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Gold posts biggest drop in six years!

Started by Leothelion,

48 posts in this topic

Russ-migration

Russ-migration

Posted
Posted
You Can’t Eat Gold!

 

Leo

 

I can't believe that whackjob Gary North is still around. I'd have thought he would have crawled in a hole and stayed there after all his doomsday predictions for Y2K failed to materialize. He did make a fortune skinning the gullible for speaking fees and survival kits, though.

 

Russ, NCNE

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EZ_E

EZ_E

Posted
Posted
Physical gold was a bargain at $265 when I recommended a buy on Krands, which were discounted at the time. Now that Gold is at $427, I recommended my former customers to sell now. They ALL refused, thinking gold will go higher. I told them, sell 1/2 their positions, still no go. Unfortunately, the greed factor has set in. Physical silver may have gone up 50%, but the buy/sell spread is usually 20%, compared to 5% for 1oz gold. In addition, many coin dealers and level II suppliers will change their buy spreads when there is an upswing in spot silver. Futhermore, silver is much more bulky and difficult to move into safes and deposit boxes.

 

 

TRUTH

 

Truth,

 

What would you do with platinum now? Sell or hold on?

p.s. Just talking about two ounzes.

 

Victor

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Count_Erfit

Count_Erfit

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truthteller, have to agree but with a warning to be quick on their feet if they sell.

 

I am of the opinion that this is a generational bull market and I take....some....of my opinions from:

 

http://www.jsmineset.com/

 

Jim is of the school that thinks gold will double its 1980 high.

 

I had a VERY fortunate happening in the shop on the DAY it hit 252 and a customer sold me 52 $20's for 265. Just circs but I did not lay them off. Have a few more but mostly bulk 1 oz coins.

 

MY plan (I am NOT a trader) is using my several hundred oz of gold to sell in retirement as needs arise (if they do) Otherwise, I will just leave em when I am converted to smoke. Same on the MUCH less silver I own.

I agree with you and don't have an affinity for silver for the reasons you state.

When it's high, you can't find a buyer. When it's low, there are no sellers.

Too thin a market to put TOO much faith in. And bulky.

 

We shall all see. But I......would...... like to see some of the gold bears take a nice June SHORT position and then take a nap.

 

Both metals are in position to challenge a demand for delivery if it occurs.

 

Lurking on Kitco.com is very instructional also.

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Leothelion

Leothelion

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Posted

Jim is of the school that thinks gold will double its 1980 high.

 

That would be great! I've haven't had such luck, only read where it might reach above $600.

 

Leo

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Count_Erfit

Count_Erfit

Posted
Posted

It always goes too far. This time ..as last time...it will depend on what interest rates do. If I (at my age) had a solid 9+% guaranteed rate of return, I would drop my gold holdings to the bare core just for insurance against catastrophe.

 

However, this time the US is so weak at both the Fed level and the personal savings level that a currency CRISIS would not be a surprise.

 

They CAN'T raise the rates without driving consumption to nearly zero. Not to mention corporate profits.

 

We are in a REAL hole this time around.

 

who knows?

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Leothelion

Leothelion

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I wonder if leo ever sold? Still fun to read these theads from long ago and wonder, and fantasize about $427 gold again!

 

I freaked out and sold at $422 last year! crazy.gif But that was $10 above spot! tongue.gif

 

Could someone check these numbers for some grading results on a recent submission of mine? 2507021-01

 

Thank, Leo

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jtryka

jtryka

Posted
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2507021-001 1961 50C PF ART TONING

2507021-002 2000 P $1 MS ART TONING

2507021-003 1944 D 5C MS66

2507021-004 1946 D 5C MS ART TONING

2507021-005 1938 S 5C MS ART TONING

 

Those were the only 5 coins I could find using the number you gave.

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HaydenTubbs

HaydenTubbs

Posted
Posted
2507021-001 1961 50C PF ART TONING

2507021-002 2000 P $1 MS ART TONING

2507021-003 1944 D 5C MS66

2507021-004 1946 D 5C MS ART TONING

2507021-005 1938 S 5C MS ART TONING

 

Those were the only 5 coins I could find using the number you gave.

 

NGC tightening up their toning standards? 893scratchchin-thumb.gif

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Leothelion

Leothelion

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Posted
2507021-001 1961 50C PF ART TONING

2507021-002 2000 P $1 MS ART TONING

2507021-003 1944 D 5C MS66

2507021-004 1946 D 5C MS ART TONING

2507021-005 1938 S 5C MS ART TONING

 

Those were the only 5 coins I could find using the number you gave.

 

Thank you jtryka.

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