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Precious Metals Surge As QE3 Now Merely A Formality
We dont have real time pricing on spam, but luckily we do on gold and silver. And to all those who BTFD in the past 2 weeks as we suggested, congratulations. Next up: another futile CME margin hike which will do nothing but confirm that a standalone gold standard is imminent.
Gold
Silver
courtesy of Bloomberg
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try westminster mint for low volume purchases...
Take a look at CNI - California Numismatic Investments.
Johnny Bravo digs his own silver... costs him $5 an ounce... he said...
I remember when $200 got you 30 ounces. Today, more like 4 ounces.
In a similar vein, I remember when I got my first ATM card some 20 years ago. I could only withdraw $300 at a time, but that was enough (from time to time anyway) to buy an oz of gold.
Now I can take out $500 at a time, but have to go 4 times to have the cash to buy an oz of Au.
You do the math...
Find local coin dealer in your area. They will always have pure bullion for a small premium over spot, or you could buy pre 1965 us coins (1964 and earlier Halves, quarters and dimes are 90% pure silver). These 90% silver coins are affectionately known as "junk silver" which you would buy in $1 face value increments. At $43 spot price, you can get $1 face dollar of pre '64 coins for $31 and change. For your $200 you could get a little over $6 face value in junk silver coins. For the same amount you could get 4 pure bullion coins or bars and have a few fiat dollars left over.
Personally, I would buy the junk silver coins and load up on dimes. Small denominations will be better to barter with if the STHF.
Good luck.
My local coin dealer in New Jersey (ugh.) charges tax. I go online to avoid the taxes.
I'd avoid them like the plague, I'm also in Jersey (central) and buy from 2 different dealers, 1 a bit more expensive, but more inventory. the other sells as he aquires inventory.
Shop around
Have both... soon you'll be able to exchange 2x10oz bars for a farm...
That better be a BIG farm. :D
i have also been recommending silver dimes to folks for a few years. now "worth" over $3, if paper fails, they will be quite functional. can't understand why they're worth 3X more than a coupla years ago, can you? (L0L)
I have bought a lot from Westminster....www.coin-rare.com....if you are just looking for rounds they charge a little over a dollar over spot. Eagles are different. I have had really good service with them
Grab a few of these.
http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=15252&langId=-1
Not a better bargain on the planet, especially since you'll be an instant "collector" which makes them safe to own.
I have a zillion of these and wouldn't hesitate to break out a few for daily transactions at my local cash farmer's market.
5 silver quarters in the set... 5 X $7.53 = $37.65 spot
The shipping is flat $5 so stock up and lower the price/ounce.
1932-1964 Washington Quarter $0.25 $7.5305or you can do goldmoney.com, have it stored london, zurich, hong kong... Turk not one to have your gold loaned out. Then, when you need to flee this sinking ship, you can pick up your gold abroad, not confiscated at the border on your way out.
Easier said than done!
Keep it cool, dry and nearby!
The only sector that hasn't moved at all in the PM's as most stocks are down 30-50% year-to-date are the Canadian Junior gold/silver explorers. A 10 minute video each day on the sector highlighting news as the greatest bull market in the history of the Earth is upon us.
http://www.statesidereport.com
QE1 & 2 were such a success for job creation. No one can tell me that even now they do not realize government intervention is what is standing in the way of job creation along with the thousands leaving monthly overseas so that companies like GE & GM can use TARP money to actually move plants overseas.
My statement below is controversial, but I believe it to be true:
The QEs and the bailouts and the obstacles to business (etc., do I have to go on...) have been DELIBERATELY designed to weaken America.
If we want to be great again, we have to make .gov smaller, less invasive and more transparent. And lower taxes and spending. How likely is that?
How likely u ask ? How bout 35:1 odds. That's the current Vegas line on a Ron Paul victory next Nov
Leaked report reveals what Goldman Sachs is telling its private clients
http://www.economicpolicyjournal.com/2011/09/goldman-secret-report-how-to-profit.html
The need to feel smart and justify their fees, prevents them from simply saying buy gold and silver.
FUCK GOLDMAN SACHS!
anything that report tells you to do you must do the opposite
I'm going long at 12:30 est. Only the robots will be trading after that.
3 and a half day weekend, bitchez!
I still can´t believe people run to treasuries ....at this juncture....PM´s are the last best hope....
"PM´s are the ONLY hope...."
Fixed that for ya!
A study was done by a university professor where he left 10 students around NY City with the simple instruction - find each other.
Although seemingly impossible, they did in fact all find each other.
How? - They all went to Grand Central Station. This is called a focal point.
For investors, treasuries have historically been that focal point - people go where everyone else goes.
But the PM's will slowly steel that focus!
+ $1870 and green.
FOFOA has written about gold becoming the focal point.
Great observation, Pladizow.
fofoa.blogspot.com <--- But you will have to look around for his article on gold as focal point.
As far as treasuries are concerned they now meet in the middle of the train tracks!:)
Don't get to excited it's just a simple misunderstood tradition.
It's a tradition to receive a negative real return on investment?
The country of Colombia added 2.5 tons of gold last month......hmmmm
Owning Silver & Gold sure takes the sting out of watching everything go to shit.
At least SOME of the sting.
But, it does say bad things about where America is going. THAT is sad.
SD1 - Where are you now? In general, I have great respect for you and your posts, but where'd you get the whacky no QEx idea?
Question: there are finer minds than mine here ...... but after a lot of economic and biographical reading ......... is today comparable to August 1931?
Less than 4% of Americans were directly impacted by October 1929 stock crash ...... banks held up well post-crash .... no panics or collapses ..... economy softened ..... most balance sheets of larger companies were in deceent/solid shape. Hoover had big biz guarantee that wages would not be cut for 12-18 months ..... then Smoot Hawley protectionist tariffs movement started .... as very very fragile post-WW1 Europe (150-200 years political and economic order changed dramatically as of 1919) began to implode. Euro bank collapse started to bring down NY banks and the 60 day bank run starting at end of Novemebr 1931 started the depression. America was not in that bad a shape .... but Europe was in transition to political modernity and could not absorb all the changes fast enough to establish a new foundation .....
I think banks/countries are more interlocked then in the 30's, but otherwise; yeah; i think you got the idea pretty right.
Bingo! Good to have another history major here! Now get a copy of "When Money Dies" and read it at least twice.
19% vat on silver bars suck! thus high premium on coins, thus go to gold...
Anyho; beats saving €€€
I like Monarch Precious Metals for small purchases. Their prices are about equal to all the others, but their shipping costs are a little less than APMEX. I always shop around, but Monarch seems to win most of the time, and for several years now, they have always delivered as promised.
Agree, and those of us who here know that any margin hike by the CME will do nothing to change the final outcome, for more than a few hours. But by raising the requirements it does take out some of the speculation which is good for us long term. Those that demean what we do here obviously missed the entire move, are pissed off, and upset with their holdings in NFLX, AMZN, CMG, and on and on.
For us here, just leave them alone. They obviously have no clue how to protect what assets they have left. And GDX the one to watch. A strong close over 64 with volume could move the entire sector starting next week. Shorts still tough. Got some small FAZ but if the head inmate begins chanting again and rolling his beads, look out.
What was the highest close price for gold...$1880.10 ???
$1917.90 Gold 8/23/11
$49.82 Silver
anyone buying puts on GLD and SLV in the hopes the market will figure out these guys don't own the physical and the ETFs will become worthless?
That's a pretty speculative play IMHO.
I'd short financials and go long metals/miners.
Miners are dirt cheap right now and that will not last.
But which ones? Many will go nowhere but down.
I'm having a difficult time distinguishing the good from the bad.
My problem too. That's why I stick to the real physical Au, Pt and Ag.
I was planning on investing in the HUI companies, and commensurate with their weighting in the HUI.
Anybody got a view on the merits or demerits of this?
The 16 or so HUI companies, are all unhedged, and therefore satisfy a key investment criteria. Of course, there may be other equally relevant criteria, not least windfall taxes, nationalisation, environmental litigation etc.
Here is a site that identifies the HUI companies, and keeps alot of useful info updated. Don't have a link for the weightings to hand.
http://www.kitco.com/pop_windows/stocks/hui.html
i bought the minimal dip recently in gold. in the grand scheme of things the dip was barely visible, and short lived as most know.
The GLD to gold quote spread has been widening lately, even into this bouncing market. This, to me, matters much more than the absolute paper quote price. That is the true confidence indicator. Once that blows out, I mark it as the beginning of the end-game. Until then, its business as usual.
THAT is a good observation / indicator too.
I will watch that one as well.
Good job reporting that!
Give me the paper, I will stimulate the economy!
That graph is a gold boner. Sha-wing! Party on Garth. Party on Wayne.
The Fed does not need to start another QE program for gold to shoot up. Merely continuing to monetize the debt it has on its balance sheet already will send PMs sky high.
I don't like it but, as I said elsewhere, the TBTF's will sell their paper PM's near the near term top and then prop up the market with the proceeds next week (maybe sooner).
That may happen, but I believe there is huge demand for physical, especially on a dip. "Everyone" wants to BTFD. We get a dip, and there will likely be plenty of physical buyers.
Then paper starts to become trouble...
You know the point in the Titanic sinking where the stern starts to rise and the mid-boat keel and stringers start to groan and rivets begin to shear from the strain? Not to mix metaphors, but what ever happened to the Hindenburg Omen?
RE headed lower.....
Do you really own your house? Or is the title defective?
Get this:
Robo-signed mortgage docs date back to late 1990s
Widespread robo-signing of mortgage documents found as far back as 1998 could haunt owners
http://finance.yahoo.com/news/Robosigned...
..and yet ONE MORE reason NOT to buy a house for years to come...
Buy it when you can own it;
buy it and pay it;
pay it in GLD/SLV
Yesterday I was curious,checked the melt value of a sacagawea dollar,I was shocked,a little more enlightened,at $.08,worthless!
Yesterday I was curious,checked the melt value of a sacagawea dollar,I was shocked,a little more enlightened,at $.08,worthless!
Au neck and neck with Platinum racing to 1900. What's the weather report on a margin hike today? Or is the complex going to let it ride and smack 'em down next week?
With silver up nicely and the banks being sued by the government among a growing group of others, my five day weekend (started yesterday) is looking just peachy.
My big question now is not whether to start drinking early, but whether to go for Bloody Marys or Vodka tonics.
So much to do and so little time. Well, it's noon somewhere...
And many thanks to the Syracuse Orange (my alma mater) for coming back from a 29-14 4th quarter deficit, tie the game, have a game-ending field goal blocked only to win in OT with a TD and cover the 6 1/2 point spread. Brilliant!
Have a nice weekend, all you gold and silver bugs!
First some tonics, then some bloodys for lunch, then back to the tonics till bloody dinner time.
Anybody holding Silvercorp?
http://www.vancouversun.com/Silvercorp+denies+fraud+allegations/5345578/story.html
GTFO now.
The Vix is up, the bulls are bears and the bears are bulls, can only mean one (or two things) drum roll...........
Colorado gold.com
Easily the best prices I've found in 7 years of searching. There is a $25 for orders of silver under 500 ounces and Gold under 100 oz. I think I have those numbers right. Even with the charge their prices include shipping and are cheaper than most. They are brokers.. 20 plus years in business. Family business with three people Dad, son and daughter. Phone orders only.
I did have two issues with them over the years.. Once David , The owner's son, quoted me the wrong price over the phone.. They give you a trade number and once you have the number, the deal is done. He called me back and said he made a $300 mistake in my favor. I told him it's already a done deal , The trade number was issued and whatever mistake he made, he would have to eat it. This was my very first order with them so I was not exactly sure who I was dealing with.
On another occasion I sent a rather large check as payment for some bars.. David claimed he never received it.. and that because the price had risen so much between the order date and time I called that he was inclined to cancel the transaction.. I told him he better not, I have all the receipts to prove payment was made.... I ended up calling his local Post office and they had the payment... They claimed they tried to deliver it and left notices, Something David disputed. In any event.. I received my order.
Come to think of it... I don't know why I'm recommending them. I've always received my order and they are the cheapest I've found in many years of searching but I did not like David's attitude towards me the last time I ordered.. implying that I never sent payment... when I have years of history with the company.
www.silverrevolucion.com
www.silverrevolucion.com
Took a loan on my 401K and jacked out 1/2 value to buy physical shiny. Paying it back with worthless dollars. The 4% for the loan will more than be offset by the rise of the coins. No fucking brainer! Bite me!
Now that's a thought--take a loan on my sinking TSP and put it into gold.
Damn, why didn't I think of it earlier, and no interest on the loan, either.
My brother starting asking me about PM's again. Is it too late to get in? Why don't I take profits now that gold is high? I tried to explain to him, why would I trade a appreciating currency for a depreciating currency. I think he's starting to get it. Funny how "Yahoo" (an appropriate name if ever there was one) was showing Gold down 12% 0r $223 on their Finance page. this morning. I almost shit, thought what kind of margin increase would cause this kind of a drop. But no, just a harmless little error. Never happens with oil or the Dow or the S&P. Fuckin' shills.
A FEW more people are starting to get it...
DoChen,@12:26
Want some of that Platinum Mapes 1oz @ under $850.00??, I WISH he would honor that order...........LOL
What a BAD mistake.
LOL
Everyone makes mistakes.
I would not want to try and screw anyone like that because of a "fat finger" mistake like that. And then argue about it later.
Bad karma.
REPLY TOMr. Bhatia:
Only the the top 0.1% Americans are fucking americans.They are also fucking the rest of 99.9% Americans
ATTENTION!!!!!
New Advertiser
MINT STATE GOLD has an error on their website, selling
One Ounce PLATINUM MAPLE LEAFS @ under $850.00 an OUNCE.
Please do not order as they have it listed improperly.
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