re: All Things: Gold & Silver

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Random Thought: The U.S. Treasury deciding to discontinue the manufacture of Pennies was one of the most bullish signals I've ever seen in the commodities sector..

When a government flags that it's too expensive to mint the proper Coinage you should probably pay attention.

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<——Longtime Collector of rare coins, tangential precious metal collector

(I bought and sold silver in ‘79 & ‘80)

The phasing out of the US One Cent coin is (in my opinion) wholly independent of the recent metals run-up.

The vast majority of financial transactions at present are cashless; this will only increase moving forward.

Additionally as inflation increases, the one cent coins become more and more irrelevant* in single transactions as we move forward.

Is everyone here aware that for around sixty years, the US produced “Half Cent” coins? (1793-1857)



Why did we stop making them? Not because of metals pricing but because they became irrelevant in practical transactional usage.

*Not the legion of electronic fractions of cents a la “Office Space”. Those will survive and some will profit from them.

Good points and all. That said, the Treasury is literally on record saying that they're phasing out pennies because of the cost to produce them.

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Does anybody see a dip, or pullback coming in the next week?

Also, long term, do y'all think these two will maintain the 80+-1 ratio? I think it will shrink. 50 would be a great start.

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I've been a bullion bull since Russia invaded Ukraine.

I think this week has proven they have tried to pull it back on multiple occasions but it just keeps bouncing up and making higher floors along the way. Moving laterally is actually a much heathier sign right now than it taking off to the moon (or pulling back).

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Which companies do y'all suggest? How fast and easy is it to liquidate if needed? What insurance companies or policies make sense?

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I have found the large online dealers to provide a safe purchase environment. Apmex, SD Bullion, Kitco, BSACG, Costco. …
all good dealers from my experience.

It is also good to cultivate a relationship with a local dealer ….

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It is also good to cultivate a relationship with a local dealer

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I buy locally. My guy sometimes gives me below spot if he bought it earlier, when lower. A guy that sells to me for less than I would pay is a good guy, in my book. He is always less than JMB and that ilk.

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It is also good to cultivate a relationship with a local dealer ….

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Amen to this....

I was able to purchase 2 tubes of 1986 and 2 tubes of 1994 silver eagles for a shade over spot at Capital Coin and Bullion I literally left them blank signed checks and told them if they had a good deal to call/text me and I would authorize them to fill out the remainder and when it cleared I would come in and collect my prize.

I traded in a 1,000 oz comex bar and some 100 oz bars and traded them in for 900 BU silver dollars.

The online bullion dealers are great just know that you will always get a better deal at your LCS if you establish a relationship and prove your worth to them.

As we saw last week, gold and silver can be heavily manipulated and hammered down for no good reason. The long term trends are sound though…you just have to sustain the choppiness.

For the first time ever, this board convinced me to make a specific move.

I sold my paper silver and (most) paper gold holdings and ordered silver bars and gold coins last week.

I literally made almost this exact same comment in this exact thread a few weeks ago.

On the advice of some people on this board, I did research on the paper market versus the actual market. I think the silver market in particular is that a real risk of backwardation.

This would occur if there is not enough physical metal to cover the paper futures. That would kill the credibility of the paper market and cause prices to plunge, while physical metal would sharply increase.

This may never happen. If it doesn’t, I still have my physical metal available to sell relatively easily. There is a shop 20 minutes from my house that will buy. All it costs me is the inconvenience of housing some gold and silver in my safe next to my guns.

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And the transaction costs on both sides (pay over spec, sell under spec).

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I pay spot. He makes his money when people sell to him.

If you don't hold it, you don't own it.