Thread: Price of Silver is Booming
08-13-2011, 01:38 AM
If you're holding gold right now you're smiling.
I almost sold about 20% of my gold stash this week until I saw JP Morgan's projected gold price revision from $1800 up to $2500. Even though they're some of the biggest crooks out there, they're admitting $2500 because they know it's going up higher than that.
I had the coins I wanted to sell already picked out and ready to go, but decided to wait a bit longer...
08-13-2011, 02:40 AM
- Join Date
- May 2008
Gold is going great guns now but when the price get way up there I look for silver to gain more and gold to slack off due to the high price. If the economy picks up a tad, silver will go up. So, it could be a double whammy for silver. Yep, I am sleeping great.
08-13-2011, 04:05 AM
I was watching a show on Discovery, or History, or something like that about a pawn shop in Detroit, which was getting taken for thousands by fake gold which passed their standard acid testing. The son and junior partner of the pawn shop started using a very expensive machine, I assume a spectrometer of some sort, to test for gold. The father and owner was against it because the machine was so expensive, he wasn't sure it would return on the investment. The machine, which costs tens of thousands of dollars, identified a few thousand dollars worth of gold that was overrated or outright fake, but passed the acid tests, in just the first few days. They ended up buying the machine.
I suppose the practice of alchemy is getting better and better."In England a king hath little more to do than to make war and give away places; which in plain terms, is to impoverish the nation and set it together by the ears. A pretty business indeed for a man to be allowed eight hundred thousand sterling a year for, and worshipped into the bargain! Of more worth is one honest man to society and in the sight of God, than all the crowned ruffians that ever lived."
—Thomas Paine, Common Sense
08-13-2011, 08:46 AM
I appreciate all the knowledge and insight on PMs. I have held off on buying some of the American Eagles cause i really thought gold might slip back down to about 1K and Oz. Hadn't happened. I'm probably off to my fav coin shop and going to put a good portion of my free cash into some Silver and probably a couple of the gold coins.
Which one do you all think is better? A standard American Eagle coin or the Buffalo Head gold coin?
I want the Buffalo....it doesn't really seem to matter, but want some input before I do.Gun Control: The theory that a woman found dead in an alley, raped and strangled with her panty hose, is somehow morally superior to a woman explaining to police how her attacker got that fatal bullet wound - Unknown
The problem is Empty People, Not Loaded Guns - Linda Schrock Taylor
08-13-2011, 11:08 AM
I like the Buffalos as well, but they can carry a bit higher of a dealer premium depending on the coin shop. Ask and compare prices. Also, if you get a Buffalo that's still wrapped in the US mint pack plastic, I would recommend not unwrapping it as tempting as it may be. Don't forget that the Buffalo is a 24k .9999 fine pure gold coin so it is extremely soft and vulnerable to dings and scratches, even if it's still in the mint pack wrapping. The Eagles are 22K so they are quite a bit more durable, but still a full troy ounce of pure gold.
I own plenty of coins that I bought because I like them... But, from a no BS 'get the most gold for as close to spot as possible' perspective, South African Kruggerands can be an excellent option. Gold coins from Mexico carry lower premiums most of the time as well. Ask and compare prices.
08-13-2011, 12:55 PM
- Join Date
- May 2008
I would stick with the gold Eagles because it is more durable than than the Buffalo; also, it is my understanding that the Eagle is the only gold coin that is not reportable regardless of the number bought or sold.
08-13-2011, 01:16 PM
This thread needs some gold and silver p0rn...
08-13-2011, 01:21 PM
08-13-2011, 02:48 PM
- Join Date
- Aug 2011
The way the Dollar is taking a hit, the Gold and Silver investment is the only way to "keep" your investment from actually losing value.
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