The case for gold

User Forum Topic
Submitted by scaredyclassic on June 23, 2020 - 6:27pm

Flirting with all time highs, gold seems high priced but not a dumb asset to own over the next few years if you think lots of stimulus money is coming still.

The case for gold always seems strong to me, but it always seems to peter out.

Could this be its time?

Submitted by Coronita on July 22, 2020 - 11:06am.

gold, silver, platinum prices up again.

1864, 22.79,905

Submitted by sdrealtor on July 22, 2020 - 11:26am.

Don’t remind me

Submitted by Coronita on July 22, 2020 - 11:28am.

sdrealtor wrote:
Don’t remind me

I sold some AMD yesterday.... Right before the almost 8% gain today alone.... Bite me.

Submitted by sdrealtor on July 22, 2020 - 12:20pm.

Kisses :*

Submitted by gzz on July 22, 2020 - 1:50pm.

Just purchased a French 20 Francs gold coin from the 1830s, July Monarchy. I am now only 1 coin away from having a complete set.

Here’s the first of them:

https://www.vcoins.com/en/stores/numisco...

“An 12” means 1803, year 12 of the Revolutionary Calendar, one aspect of the metric system that was abandoned.

The $350 price listed there is old price, an An 12 is worth more like $430+ depending on condition.

Submitted by scaredyclassic on July 22, 2020 - 2:36pm.

gzz wrote:
Just purchased a French 20 Francs gold coin from the 1830s, July Monarchy. I am now only 1 coin away from having a complete set.

Here’s the first of them:

https://www.vcoins.com/en/stores/numisco...

“An 12” means 1803, year 12 of the Revolutionary Calendar, one aspect of the metric system that was abandoned.

The $350 price listed there is old price, an An 12 is worth more like $430+ depending on condition.

not a great return if youd held it 200 years.

But it was worth 100 bucks or so 200 years ago, in a different world, and worth about that now.

Which is pretty trippy if ya think on it

Submitted by The-Shoveler on July 22, 2020 - 2:42pm.

Coronita wrote:
sdrealtor wrote:
Don’t remind me

I sold some AMD yesterday.... Right before the almost 8% gain today alone.... Bite me.

I think Mark Cuban had it about right,

Today's market reminds me of late 1990's, the thing is you don't know how long theses bubbles can go on, they can last years!!!

Submitted by gzz on July 22, 2020 - 3:55pm.

The 1803 20 Franc was circulating legal tender in France until the Great Depression. The nominal return was thus 0.0% for about 100 years. Because there was also deflation, there was a small positive real return.

The main big return to gold was in the post 1960 period. Gold in the USA was officially $42/oz until the 70s, but practically speaking we were off the standard before then. Still, you could get gold for about $40-50oz in the 50s and early 60s, now worth $1800oz.

Submitted by gzz on July 22, 2020 - 4:08pm.

If you had held the 20 francs as, paper or small change, it would have exchanged for .02 New Francs in the 60s, and about .003 Euros in the 00s.

Submitted by scaredyclassic on July 22, 2020 - 10:08pm.

Any human would be happy to have that coin in his pocket and would recognize it as very valuable for the last 5000 years

Submitted by scaredyclassic on July 24, 2020 - 8:59pm.

Bad sign.

Feeling greedy.

Selling at 2100 seems way too early.

Whenever i feel confident its a bad sign.

Im thinking a parabolic move up to 3 to 5k, by 12/25/20, and a 30 % crash sometime afterwards.

No reason other than it feels hot, theres a lot of money sloshing around, people have phones with trading apps, andvits bern down so long

Submitted by Coronita on July 24, 2020 - 9:10pm.

Being greedy is good. I wish I was. I sold AMD two days ago... Today, it was up 16.5% to $69.40/share on intel's very bad news.

Once upon a time this was a $2.60/share stock...I think I first talking about this company here a long time again, and the potential threat to Intel when it was still around a <$10/stock. Not many people took it seriously... Fast forward to 2020, and intel is in deep trouble with there 7nm process also delayed for a good year or two (on top of their 10nm process that is already broken).

If I listened to myself and kept every single share and call option of this stock.... I think it would good for a few million.

I'm not destined to score big on one hand. This isn't the first time this happened, and it certainly wont be the last. I don't need to buy any lottery tickets, or go to the Del Mar Fairgrounds bet on horses, or go to Las Vegas..... This was my lottery ticket. Once in a lifetime opportunity.... I blew it. Shit happens.

Submitted by scaredyclassic on July 24, 2020 - 11:03pm.

Its difficult to maintain faith

Submitted by gzz on July 25, 2020 - 12:52pm.

Happened to me too, got some SanDisk for about 7 during the great recession, sold for about double that, went up to 100+, then was aquired for 76 in 2016.

I plan to keep my investment properties when they are overvalued, and to wait for the next true bubble.

I also am hanging on to my iRobot, which is the only stock I currently own that has doubled. Screw fundimentals, they are a pure play that makes ROBOTS at a PROFIT. No other public company can say that. Google cut its robot division back after losing a lot of money.

On top of vacuums, they have some great DoD contracts, and robots are part of the future of war, just watch any scifi future movie.

Submitted by scaredyclassic on July 27, 2020 - 8:01am.

Getting a little nervous about the speed and ferocity of gold and silvers movement.

If youve bern burnt before, you live timidly. How do 2nd marriages ever occur

Submitted by The-Shoveler on July 27, 2020 - 8:27am.

Why I put a trailing stop, IMO it falls a dollar I am out (my last few shares anyway).

Submitted by scaredyclassic on July 27, 2020 - 8:35am.

The-Shoveler wrote:
Why I put a trailing stop, IMO it falls a dollar I am out (my last few shares anyway).

I would not be shocked if it were 1600 or 2400 in 30 days.

But id be surprised if it didnt pass 2k getting to either one.

Submitted by The-Shoveler on July 27, 2020 - 9:07am.

In my case I was referring to SLV,

I don't own Gold.

Submitted by scaredyclassic on July 27, 2020 - 9:39am.

silver will be 40 dollars or 10, i have no idea.

the world is disorderly.

holy jesus, I've been the same mental patient for a decade.

https://www.piggington.com/gld_etf_full_...

piggington jumped the shark many years ago. basically this is an anxiety journal for me.

I know there are weirder threads with me drunkenly going off on the merits of gold and defending its honor against all forms of american triumphalists. it's been a long strange ride. I fear I do not ave the guts to ride this one to the top.

Submitted by The-Shoveler on July 27, 2020 - 10:05am.

I was listening to a pod cast about silver, This guy was saying Silver was likely to reach 25 or so, but if stocks crash then Silver and Gold were likely to follow (Silver down to maybe 15-17 range) but then it could go to 50 or so after it builds a base after the crash.

Me I always think the issue with Silver is that it is a "must" have industrial commodity so at some point the gov steps in to limit the price.

Anyway just my opinion which is not worth much LOL.

Submitted by scaredyclassic on July 27, 2020 - 10:55am.

The-Shoveler wrote:
I was listening to a pod cast about silver, This guy was saying Silver was likely to reach 25 or so, but if stocks crash then Silver and Gold were likely to follow (Silver down to maybe 15-17 range) but then it could go to 50 or so after it builds a base after the crash.

Me I always think the issue with Silver is that it is a "must" have industrial commodity so at some point the gov steps in to limit the price.

Anyway just my opinion which is not worth much LOL.

how does the us govt limit the price of an internationally mined and traded commodity?

Submitted by The-Shoveler on July 27, 2020 - 11:11am.

scaredyclassic wrote:
The-Shoveler wrote:
I was listening to a pod cast about silver, This guy was saying Silver was likely to reach 25 or so, but if stocks crash then Silver and Gold were likely to follow (Silver down to maybe 15-17 range) but then it could go to 50 or so after it builds a base after the crash.

Me I always think the issue with Silver is that it is a "must" have industrial commodity so at some point the gov steps in to limit the price.

Anyway just my opinion which is not worth much LOL.

how does the us govt limit the price of an internationally mined and traded commodity?

Not sure but that was the rumor the last time it got into the 40's, the gov started investigating etc.. large holders of Silver (heavy handed investigations etc...)

The gov does not care a bit about Gold it can do whatever it wants.

Submitted by Coronita on July 27, 2020 - 12:48pm.

I'm trying to figure out where to sell some bullion locally.

Submitted by scaredyclassic on July 27, 2020 - 12:53pm.

i dont know about actual metal. just paper metal.

Submitted by The-Shoveler on July 27, 2020 - 2:05pm.

I thought this quote was interesting,

We’re in a “golden age of fraud,” describing the current market climate as rife with euphoria, FOMO and “post-truth” politics — “a really fertile field for people to play fast and loose with the truth, and for corporate wrongdoers to get away with it for a long time,”

Submitted by scaredyclassic on July 27, 2020 - 2:17pm.

it's always been a scammy little country. baldfaced liars! in the U.N., in the markets, face to face, we are liars! we love it! this is who we are, a bunch of fakeass money grubbing bastards!

get with the program, it's the only game in town.

sheesh, the details of the bay of pigs book im reading have got me more disillusioned with the usa than usual...

Submitted by gzz on July 27, 2020 - 3:45pm.

Flu, what are you looking to sell?

I am not into 1oz gold of any sort, nor anything that is grams not oz with limited exceptions.

But old and new smaller gold coins, 1oz silver, 10oz silver, and “fractional” gold I’d buy almost anything at kitco’s spot price.

Here’s what I purchased today. The oldest one there is the 1828 Charles X 5 Francs.

https://i.imgur.com/IwC142M.jpg

Submitted by gzz on July 27, 2020 - 3:48pm.

The other option Flu is JMBullion will buy via mail. They won’t give you that great a price, but they send you a postage paid mailer and make it very easy. And the price isn’t too bad.

Submitted by scaredyclassic on July 27, 2020 - 6:16pm.

it seems silly to trade actual coins. if you have soem, just hold them. give them to heirs.

Submitted by scaredyclassic on July 27, 2020 - 7:01pm.

Coronita wrote:
gold, silver, platinum prices up again.

1864, 22.79,905

Quick run up. Does it mean anything.

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