Sanrith Descartes
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Investing General Discussion
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The big brokers are not going to care if its a buffalo or maple leaf, etc. They are going to just pay you for the base gold per oz. Actually there might be SLIGHT difference in price depending how much they have in stock, but its insignificant. Its ok to park wealth in I suppose, but I found it a hassle and only approaches stonks if you DO get into rare coins, graded/certified coins, fancy stuff and sell to other private individuals.
coins vs bullion: they don't care
This is why you have to hit up min. of 3 brokers per sell order and write down what they are offering that day for each of your pieces. Prices will fluctuate a "little" bit based on their current stock. So if you have a big order to sell, its worth it to split the order up and send it to who is offering best quote for each
item.
edit #3: You can also bargain with them somewhat. I've been on the phone with them and said hmm, I want to send you this whole order but so and so is offering xxx for this type of coin, can you match? A lot of times they will say yes and then you don't have to bother splitting the order.
Sanrith Descartes
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My thought process is that the BTC craze is driving down the price of gold while FOMO money flees to BTC. I might be able to grab some ounces at a price worth holding over the long term.
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Yeah its safe and I don't care what anyone says: its safer long term than shitcoin. I think its the one true (portable) inflation/commies-take-over-the-U.S. hedge. The last few republicans to flee Vietnam had gold in their pockets, not stock certs or shitcoins.
That being said, I don't hold hardly any atm. I'm way too addicted to the stock market and its gainz. Gonna need a 800 counseling number once I meet my first real bear market since becoming a active trader a year ago.
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Sanrith Descartes
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Don't fear the bear, play the bear. There is always money to be made in the market. You just need different tactics for different markets. Its why learning options trading, reading financial reports and learning basic technical analysis tools are important.
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Silver has way more legs than gold. Silver has way more industrial uses. From my understanding very little silver is specifically mined anymore, most of it is mined as a side product of other mining. Couple this with an exponential future use of silver in technology. The silver to gold ratio is far out of whack right now, lots of scrutiny over JP Morgan’s manipulation of it.
Common coins like American Eagles or kookaburras or the others are good investments. The modern year stuff, not the collector stuff.
Some bars are fancier than others and are probably easier to sell and people look out for them, but they don’t have much premium over just ugly generic bars from what I can tell.
Premiums across the board are insane right now because of the lack of retail silver available.
I’ve spent a lot of money with JM bullion and SD bullion, two of the biggest dealers. There are a few other big names, they’re all good.
You’re definitely better off buying larger bars vs the smaller ones, get better premiums that way.
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Borzak
Silver Baron of the Realm
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Yeah apmex sets it on gold value. I look from time to time over the years. They put a premium to get a certain year and you pay less to get "random year" and such. Also I think there's a small premium for coins that are just rolled out by one of the mints. One demand settles out it's just based on some percentage of the spot price.
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I like reading Kitco news:
www.kitco.com
I like Stansberry videos for updates on things also.
Latest News, Video News, Analysis and Opinions | KITCO NEWS
The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
www.kitco.com
I like Stansberry videos for updates on things also.
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Here’s a good write up on the current state of silver. The squeeze aspect I find dubious to come to fruition of course, but interest in silver is coming up fast.
I’d be happy if silver goes to $50-100 an ounce within the next 10 years.
I’d be happy if silver goes to $50-100 an ounce within the next 10 years.
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But we've seen and invested in stocks that do that in 10 months instead..
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Sanrith Descartes
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As a reminder past performance is no guarantee of future returns.
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True enough, that’s why I don’t think PMs should comprise more than a small amount of anyone’s portfolio.
It’s just one more tool in the toolbox. I see people investing every penny they have in silver or gold and they’ve missed out on so many gains if they’d had them in any other investment.
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Sanrith Descartes
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In the 1st four years this thread had 60 pages or so of posts. And then came 'Rona. In a year we added almost 700 pages. This week upcoming will mark the 1-year anniversary of the beginnings of the Great Rona Plunge. I went back and pulled out some quotes from the day or two leading up to the beginnings and then day 1. Enjoy...
ps.
Blazin
wins the "be careful what you wish for" award with this gem "Looking forward to this week, come on scary headlines! "
ps.
Blazin
wins the "be careful what you wish for" award with this gem "Looking forward to this week, come on scary headlines! "- 3
Sanrith Descartes
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For point of reference we are still more than a week away from the real drops. If any of the newer folks want to go back and read the great crash. it starts around page 67 or so. In real time posts live as it happened.
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Sanrith Descartes
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Of course its a BA made plane. Maybe we can ground the 777 models also. Maybe going back to trains and cars for travel aint the worst idea.
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Wingz
Being Poor Sucks.
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This is what diversity hires get you. You don't hire the best anymore..you hire for "quotas"
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Gravel
Mr. Poopybutthole
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It's interesting, because last week I made a comment about technicals, and I actually knew that I'd get a response about how they work if enough people believe in it.
Also last week, I saw an article about how the trailing 52 week return for the market would go nuts in a month or two. Essentially once the "drop" falls off, it shoots up to something like an 82% return (can't remember the exact number).
I rolled my eyes at it because it's a ridiculous metric. All it means is that the drop wasn't based in reality and the actual trend of the market remained pretty consistent. It was a true V shaped recovery.
The problem is, there's a correlation between these two ideas. We could see a black swan event that comes out of it when the big drop falls off because the market then sees itself as overpriced. Even though it's not at all grounded in reality (well, it probably is overpriced, but not like the technicals would make it seem). Logic doesn't actually matter, in fact, it's likely that the algo's blow up and something terrible happens.
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Sanrith Descartes
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Yeah I have been waiting for the upcoming couple of weeks for a while now. Those insta circuitbreaker days with the 9% drops falling off the 1 yr are going to be interesting. Or maybe not.
.Living those days as they happened was amazing though. I forget how many times we were explaing how circuitbreakers worked. Shit it was the first time I had ever remembered seeing the futures go limit down or limit up.