Metals are getting double whammied by margin calls for stocks but mainly crypto. At this price for silver, most mines cannot actually mine it and sell at a profit. Junior miners are getting crushed and even the big players mine an oz between $20-$23.

I've not been able to get in for a few days either.

FAT SEXY said:

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PM Discord down or did y'all give me the boot?

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We're y'all able to get back on again?

Is it still down for y'all?

It's back up and running

Silver under $20

Good deal. Have you done business with them?

What's the read on gold? Is it going to slide further, or is now the time to buy?

I definitely DCA everything, but I hate paying the sub 1 toz premiums so my gold purchases are small and scattered.

https://thefelderreport.com/2022/07/06/if-inflation-doesnt-rapidly-dissipate-gold-prices-will-prove-dramatically-undervalued/

Where's the floor? At $18.XX, I'm strongly considering a significant bullion purchase.

Edit: Who has the best priced 1 ounce rounds these days?

Good price but I'm not giving someone thousands of dollars to sit on for almost a month

Went ahead and bought 20 from that site, just cause I think it is a good idea to have some precious metals in portfolio and I haven't bought any in over a decade (bought quite a few silver eagles low, my lord the premiums on those are high). Thanks for link.

Edit: Why are Canadian coins so much lower than American, and why are Buffalos less than Eagles? Just peoples' preferences?

Slight derail, but WTF is up with he premiums on gold?! Spot is $1,734 and the prices for 1 oz gold coins at Texas Precious Metals are $1800-$1,900 depending on the coin & quantity. Did they just forget to update their prices online? I see on Bold Precious metals that the premiums are lower, but still seem bad.

What is a "normal" premium range on 1 oz gold coins?

topher06 said:

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Went ahead and bought 20 from that site, just cause I think it is a good idea to have some precious metals in portfolio and I haven't bought any in over a decade (bought quite a few silver eagles low, my lord the premiums on those are high). Thanks for link.

Edit: Why are Canadian coins so much lower than American, and why are Buffalos less than Eagles? Just peoples' preferences?

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Buffalos are generic, no government backing.

The maples are pretty high mintage and the mint isn't charging insane premiums on them. And the Eagles are more highly sought after, for whatever reason.

Looking at the Mint website, doesn't appear their pricing is even remotely competitive with the dealers'. Guessing this is somewhat like the sport ticket scalpers, where the dealers have programs that generate thousands of accounts to buy up all of the "bulk orders" to then sell at a massive discount compared to single orders made to the Mint, but is that accurate? Is there any way to buy in bulk directly from the Mint?

Edit for convenience: https://catalog.usmint.gov/american-eagle-2022-one-ounce-silver-uncirculated-coin-22EG.html?cgid=american-eagle-coins#start=1

Edit 2: Nevermind, found the page explaining the "authorized dealer" concept. 25,000 coin/year minimum to deal silver eagles and some other vetting requirements. $2/coin fixed premium, so these dealers are making a killing at the $12/coin premiums I am seeing. Too bad we can't make some sort of TexAgs collective and become a dealer that way, I'd be down for 500 coins a year at reasonable premiums.

This has been posted before, but this is a great website to help you find the cheapest version of various precious metals around the web:

https://findbullionprices.com

So when you go to sell your gold coins, what's a typical sale price? Spot, or some discount to spot? I know it can vary from buyer to buyer but what's kind of the average scenario?

Buck Turgidson said:

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So when you go to sell your gold coins, what's a typical sale price? Spot, or some discount to spot? I know it can vary from buyer to buyer but what's kind of the average scenario?

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I am not a big gold buyer but I maybe interested if you ever decide to sale

979-eight two o-l87o
Gdogprop@gmail.com

Buck Turgidson said:

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So when you go to sell your gold coins, what's a typical sale price? Spot, or some discount to spot? I know it can vary from buyer to buyer but what's kind of the average scenario?

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Don't sell below spot.

FAT SEXY said:

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I like to buy fractional Gold that is below a 10% premium.. I achieve this regularly by purchasing 20 Franc Gold coins and 5 Gram Gold bars.

I've been buying more of the 5 gram bars lately. You can find them fairly regularly below a 10% premium if you shop around.

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Quite a few 5s and 10s for sale now at 4-6% premium.

I'm new to gold and am trying to decide whether to buy (hence my two previous posts). However, the picture I am getting here is that you start out 5% or more in the hole the minute you buy gold. You need gold to go up by that amount just to break even.

My original thought was to buy some when spot hit $1,700 but now I am thinking I should see if it drops closer to $1,600-$1,625 if I actually want to pay $1,700. I guess we'll see if gold actually gets that low (spot was $1,711 when I checked this morning).

It seems to my newb layman understanding is that the drop of gold, along with other assets, is moving inverse of the strengthening dollar which began with the March FF hike. The fed is telling us they will continue to use their blunt tool to kill demand with another hike at the end of the month. So by that logic, until the fed pivots gold and other assets are going to continue to fall in dollar terms.

This is screaming recession, if not depression, and the feds dual mandate tells us that until we unemployment get bad they will continue to hike. The current job market has a lot of room to fall before we get there. The problem is that this is all backward looking and they obviously have a history of misreading the situation and overshooting. This seems to indicate were going to have stagflation with falling asset prices and wages combined with high Consumer Price Lie (CPI) for the next year at least.

Of course I also believe that when the pivot finally happens, you will see the largest stimmy package ever conceived and once that happens you better have hard assets like gold and real estate. The bright side here is if my thoughts are correct we are entering the best buying opportunity for those two you could ask for.

I am, and will continue to DCA 10% into physical silver and PM and Uranium ETFs (just started this with a small SDIRA) and I want to put 10% into some miners as pure speculation. Those all seem like super bargains to me right now.