Picked some coins up at the LCS today: >13 mercs >2 barber dimes >2 barber halfs >1 peace dollar >2 standing liberty quarters >2 walking liberty halfs >1 Canadian maple 1 oz bullion 138 bucks. Howd I do
I'm sorry to keep posting this, but I feel like /pmg/ should be warned of these indicators that I've seen:
I believe over this next week we're going to see some *very* red days for silver >DXY just hit 2 year low >DXY just broke out 20 day moving average >PMI just reported above 50 for the first time >Not only that, but Euro PMI fell below 50 >AKA, US out of recession, Euro into recession >Solid earnings reported this past week >Dollar will rise this week >Dollar shorts will be squeezed, driving DXY up even harder >PM will tank >a lot of shorts covered already, so there is less buying pressure than the past few months >Thursday, Powell will not say anything to discourage market confidence >will not even mention YCC >market will rise, even more selling pressure >JPM will pile on shorts at every trend point they can >market makers will try to shake out weak hands for September - November bull run >Gold entries at 1900 will panic and encourage an even greater sell-off >World Health organization just said 2 years conservative estimate >Tokyo / Hong Kong will continue selling each night, creating downward pressure on US open >PM tried to rally & failed (return to normal) >we are at the start of fear >barring no other news silver major tank, possibly even below $25 this week
I think you should consider buying some silver Puts this week. I think you will see good profits, and then can use that profit to buy more physical I am still EXTREMELY bullish on silver overall - but I still think this next week is going to be red - a great opportunity to stack at a discount Good luck on the week ahead everyone
If silver is green this week, then that is a HUGE statement, when there are all of these odds stacked not in it's favor
(where capitulation would be is when it will spike back up - the emperor has no clothes as we all know
Do you think this will be the case for gold as well?
Ethan Powell
same question lol
Jace Mitchell
I've ways worried about junk silver not being easily flippable and a out the headache if calculating its value individually. Obviously OP has resources but I'm always weary of those because they are all trying to sell you product at the end so of course will make it out to be a better prospect than anything else.
Does anyone have a list of real cons regarding junk coins? Are they a must have for stackers? I'm 3oz gold 80oz silver here and looking to bump my silver portion more, but these premiums are murder. Junk silver has always been iffy to me, but it's either that or taking a chance at a generic round lot. And I swear those only give me SILVERTOWNE shitcoins that look so ugly that its like they used the design of those chocolate coins as inspiration. Whomever they have as their artist seriously needs to be fired.
sorry wanted some more input. is it actually possible to profit of PM's long term or is the value just inflating in relation to the currency?
Matthew Richardson
HISTORY OF SILVER CURRENCY The Vikings equated the value of 4 cows to 24 sheep to 8 ounces of silver and 8 ounces of silver were traded for every 1 ounce of gold. Given land ownership distributions and available resources, everyone more or less agreed that the labour required to rear 4 cows was approximately the same as the labour required to mint 8 ounces of silver. Although not all classes of man would have had the capacity to obtain or possess silver in those days, it had a much closer correspondence to its labour value.
One of the consequences of the liberties afforded by fractional reserve banking is a suppression in the silver spot price [relative to fiat]. Modern silver markets are buyers markets, probably because over 50% of the yearly demand is industrial (whereas for gold it is sub 8%), so the majority shareholder’s preferences are reflected (those of industrial buyers).
Possible? Yes, many in this thread could sell right now and take some pretty good profits. Many of us have purchased silver below $20 an ounce and have enough of a stack that we'd profit thousands.
And on an even longer scale it's a hedge against hyperinflation so effectively acts as a "profit" even if not really raising in value simply because the USD's value drops off a cliff. On the farther end of the scale, they work as an insurance policy if you aren't confident in modern fiscal policy and want to actually be wealthy in a country that goes Zimbabwe mode.
But if you're looking to make consistent gains like the stock market or cryptos, you aren't getting that here. PMs aren't for short term profits, and many argue they aren't even for profit at all since the thought of trading real money for paper Monopoly money is counter intuitive. Your end game with PMs shouldn't be "ride a pump and then dump," it should be "keep my savings from becoming worthless."
Luis Morris
You'll have to get creative with where you buy, you may get lucky on ebay or maybe even at car boot sales
I remember an user from a week or two ago saying he had success in buying pms at estate auctions
If you didn't short two weeks ago and want to short now then you're going to lose the shirt off of your back. The correction for gold is officially over after Friday morning dip and reversal and silver will follow.
James Evans
I have a bat boi quarter
Adam Hughes
thanks, thats essentially what i wanted to know. i feel like buying large volumes of silver right now is extremely risky (although admittedly i forsee inflation inflation destroying the USD). im basically trying to decide what my strategy should be from here out.
One con to Constitutional silver is that your per-ounce price takes some math to find, but it's pretty easy. Let's go with a real-world example.
Earlier today, I went to my LCS. Picked up some based generic rounds (pic related), and when asked, said he was at "21x" for his Constitutional. That '21x' is based on face value, meaning a dime would be $2.10, a quarter would be $5.25, and a half dollar would be $10.50. (Note also that this is why even our clad dimes are smaller than pennies, despite having 10x the FV of the cent.)
In order to find out how much per ounce that is, take that multiplier on Face Value (FV), and divide that by .715, which is the number of troy ounces in a dollar's worth of dimes, quarters, and halves (Someone a long time back bought $1K in 'junk silver' — named for being non-numismatic due to a combination of date/mint, damage or wear — and refined it, getting 715ozt of .999).
Taking these two values, we can then find out what the price-per-ounce of Constitutional is: 21 / .715 = $29.37 (trailing decimals truncated)
Considering I bought the two rounds for $29.50 each, Constitutional had the lowest price out of any form. I paid the extra 13 cents both to help continue to bring my bullion levels to my 90% levels, but also because, let's be real, who WOULDN'T get these given the opportunity?
>i feel like buying large volumes of silver right now is extremely risky It definitely is risky. Waiting is also risky. I think gold is actually the more sound investment right now, even though silver has way more ground to cover. It's definitely a coin toss. Based on my financial situation, if I had the cash from March that I threw in and had nothing at all in metals... >Today: 20% of my allocation for physical gold and silver (paying for express mail as well) >Monday: 10% in miners/paper options & 20% cash ready to go in a brokerage account >Tuesday: 10% more into physical, take gains on miners if the price shot up overnight. If the price is down, DCA into miners and buy physical. >10% ready for physical if there's a good dip in future weeks >2x 15% in case comex implodes and spot gets sent to hell. I'd try to sit on this for a while otherwise.
>there are millions of silver coins buried in the ground either dropped accidentally or hidden and forgot about How do you guys sleep at night knowing this? I can't
Thanks! >it's auto-focus >I'm a baby playing a ~25oz Ag device This is my favorite so far. I'm glad I might have found a pure hobby. I'll have to learn more about composition and how to actually work the camera sooner or later... Too busy wage slaving for more gold and silver at the moment.
I think the US government will try to push back the inevitable collapse of the everything bubble by going to war with Iran. It's why Pompeo went to the UN to snap back all the sanctions. They are pushing the ayatollahs to the brink in order to have an excuse to invade.
