collapse

* Recent Posts

2024 NCAA Tournament Thread by Uncle Rico
[Today at 02:30:34 PM]


2024 Coaching Carousel by TAMU, Knower of Ball
[Today at 02:24:16 PM]


10 years after “Done Deal” … It’s Happening! by MU82
[Today at 02:05:43 PM]


Dallas bars tonite by Jay Bee
[Today at 02:05:40 PM]


Katz has MU in Final Four by MU82
[Today at 01:58:18 PM]


2024 Transfer Portal by MU82
[Today at 01:49:43 PM]


Chicago bars for Fri game by Galway Eagle
[Today at 01:20:04 PM]

Please Register - It's FREE!

The absolute only thing required for this FREE registration is a valid e-mail address.  We keep all your information confidential and will NEVER give or sell it to anyone else.
Login to get rid of this box (and ads) , or register NOW!


Author Topic: Precious Metals  (Read 1841 times)

Coleman

  • All American
  • *****
  • Posts: 3450
Precious Metals
« on: August 05, 2020, 10:56:30 AM »
Anyone else watching this market right now? Silver and Gold are on a tear.

I own a little bit of silver and gold, more as a hobby than anything (less than 1% of my net worth), its fun to see this though.

Hards Alumni

  • All American
  • *****
  • Posts: 6583
Re: Precious Metals
« Reply #1 on: August 05, 2020, 12:35:29 PM »
Anyone else watching this market right now? Silver and Gold are on a tear.

I own a little bit of silver and gold, more as a hobby than anything (less than 1% of my net worth), its fun to see this though.

Do you have it at your house?  ;) ;D

Coleman

  • All American
  • *****
  • Posts: 3450
Re: Precious Metals
« Reply #2 on: August 05, 2020, 12:41:47 PM »
Do you have it at your house?  ;) ;D

Nice try. Bank deposit box

Hards Alumni

  • All American
  • *****
  • Posts: 6583
Re: Precious Metals
« Reply #3 on: August 05, 2020, 12:47:26 PM »
Nice try. Bank deposit box

haha, but for real.  Some people say they 'own' gold or silver, and don't have hands on it.

Good to hear you do.

warriorchick

  • All American
  • *****
  • Posts: 8067
Re: Precious Metals
« Reply #4 on: August 05, 2020, 10:02:06 PM »
I just do whatever William DeVane tells me to do.
Have some patience, FFS.

WarriorFan

  • All American
  • *****
  • Posts: 1629
Re: Precious Metals
« Reply #5 on: August 06, 2020, 09:57:06 AM »
I have a friend who proudly told me that in response to the impending certain collapse of the entire global monetary system he had bought several bars of gold.
My response: "cool, where are they?"

The PERTH (Australia) MINT!!!!

WTF good are they for you there if you live in Wisconsin and the global monetary system has collapsed?????

I have never understood why people buy Gold as an investment.  If you have enough money that you need your own personal reserve currency, OK, but as an investment, it doesn't pay dividends, its valuation is largely inverse to the dollar so if you're a dollar earner in a dollar society there are no net gains, and you have to pay to store it!!!
"The meaning of life isn't gnashing our bicuspids over what comes after death but tasting the tiny moments that come before it."

Hards Alumni

  • All American
  • *****
  • Posts: 6583
Re: Precious Metals
« Reply #6 on: August 06, 2020, 10:26:36 AM »
I have a friend who proudly told me that in response to the impending certain collapse of the entire global monetary system he had bought several bars of gold.
My response: "cool, where are they?"

The PERTH (Australia) MINT!!!!

WTF good are they for you there if you live in Wisconsin and the global monetary system has collapsed?????

I have never understood why people buy Gold as an investment.  If you have enough money that you need your own personal reserve currency, OK, but as an investment, it doesn't pay dividends, its valuation is largely inverse to the dollar so if you're a dollar earner in a dollar society there are no net gains, and you have to pay to store it!!!

Exactly.  I understand it as a hedge against the dollar, but that is for trading only.  Also, if there is a global financial collapse holding a chunk of metal isn't worthless, but it isn't the store of value some folks think it is.  Currency needs to be fungible, divisible, portable, durable, and acceptable.  Gold isn't all of those things.

Coleman

  • All American
  • *****
  • Posts: 3450
Re: Precious Metals
« Reply #7 on: August 06, 2020, 12:05:10 PM »
I have a friend who proudly told me that in response to the impending certain collapse of the entire global monetary system he had bought several bars of gold.
My response: "cool, where are they?"

The PERTH (Australia) MINT!!!!

WTF good are they for you there if you live in Wisconsin and the global monetary system has collapsed?????

I have never understood why people buy Gold as an investment.  If you have enough money that you need your own personal reserve currency, OK, but as an investment, it doesn't pay dividends, its valuation is largely inverse to the dollar so if you're a dollar earner in a dollar society there are no net gains, and you have to pay to store it!!!

Yeah I am not one of those people who thinks the world monetary system is going to collapse (although I do think we are in for a bit of moderate inflation in the next couple years with all of the liquidity currently being pumped into the economy). I collect shiny because its fun. It is basically a hobby.  My retirement savings are 90% stocks and my reserves are in cash.

I bought most of my silver when it was $14-$18 an ounce. If we hit $30, I will probably cash out. Easy money.
« Last Edit: August 06, 2020, 12:12:08 PM by Coleman »

Jockey

  • All American
  • *****
  • Posts: 2016
  • “We want to get rid of the ballots"
Re: Precious Metals
« Reply #8 on: August 06, 2020, 12:22:53 PM »
Yeah I am not one of those people who thinks the world monetary system is going to collapse (although I do think we are in for a bit of moderate inflation in the next couple years with all of the liquidity currently being pumped into the economy). I collect shiny because its fun. It is basically a hobby.  My retirement savings are 90% stocks and my reserves are in cash.

I bought most of my silver when it was $14-$18 an ounce. If we hit $30, I will probably cash out. Easy money.

Common date low grade silver dollars are hard to find for under $32-$34. I've got a ton of them. I bought high grade coins for my collections, but whenever prices were favorable, I'd buy bulk by the roll. 1,000s for as low as $7-$8 dollars a coin.

Like you say, it's getting close to that time. Our economy is in trouble for the long haul, so I think we may have a couple years margin here, but why not take the sure profit over a gamble.

MU Fan in Connecticut

  • Registered User
  • All American
  • *****
  • Posts: 3436
Re: Precious Metals
« Reply #9 on: August 07, 2020, 09:59:08 AM »
My company makes copper wire and raw material dropped quite a bit at the onset of Coronavirus but has skyrocketed the last month.

NorthernDancerColt

  • All American
  • *****
  • Posts: 760
Re: Precious Metals
« Reply #10 on: August 20, 2020, 05:20:22 AM »
I just do whatever William DeVane tells me to do.
For a true Thespian advocate for precious metals, look no further than Joe Turkel, who played Lloyd the bartender in the Shining. When Jack tried to pay his bar tab with fiat currency Federal Reserve Notes, Lloyd clearly referenced Silver Certificates while he proclaimed, “your money’s no good.”
Zenyatta has a lot....a lot... of ground to make up. She gets there from here she’d be a super horse......what’s this.....Zenyatta hooked to the grandstand side....Zenyatta flying on the outside....this....is...un-belieeeeeevable!...looked impossible at the top of the stretch...

 

feedback