CSB: I'm moving our dresser back into the bedroom last night now that we've moved back into our room post-demolition and rebuild. Wife's not up to helping at the moment, so I'm going to pull all of the drawers out to make it lighter for me to slide around. I figure I'm going to be Whatcom County tough and just pull two drawers out at once and carry one in each hand into the other room, so I reach out and grab mine and hers sock drawers. Mine slides out and weighs nothing, hers slides out and I damned near fucking drop it on my toes. Has to weigh at least 20 pounds. I'm like, "What the fuck kind of industrial power tool is she keeping in here!?" I'm simultaneously intrigued and jealous.So I shift the load around so I'm kind of stacking them on top of each other and struggle into the other room, plop the drawers down, and got a good laugh when I saw what was going on: Her dad's been giving us a small load of silver coins and small bullion every holiday for the last several years, and she's been just stuffing it in the sock drawer. I had forgotten all about it at that point. Laughed even harder when remembering just that same day I read about @Swaye's sock drawer stash.
GLD is paper. Paper burns. Stacking is physical.
No. I mentioned in another thread my connection to the gold industry. Do not invest in gold or silver. Side note 1: I had a nice surprise in about 2011 when I found a handful of Krugerrands I was paid with one summer when I was a kid a decade plus before. Did some yard work for an old man that summer, never once got molested, but was a bit disappointed he gave me foreign coins. I remember checking the price of those every week for a month and then I forgot about them, only to discover them at the perfect time when cleaning. Side note 2: I use cash almost every day, so I get a lot of loose change back. Since the pandemic started I’ve gotten a ton of >1963 coinage. Like half of a mason jar worth. Not for a while now, but still curious how those made it back into circulation.
GLD is paper. Paper burns. Stacking is physical. Paper buys don’t create a shortage. Paper silver has been sold above actual supply for years. But, when physical silver gets bought up, that creates market movement.
GLD is paper. Paper burns. Stacking is physical. Paper buys don’t create a shortage. Paper silver has been sold above actual supply for years. But, when physical silver gets bought up, that creates market movement. Any idea why that hasn't been the case for silver since this all began in February.Paper slv is down/flat in that time frame. Know spot price is out of site ($4/$5 over) versus the normal $1.50 premium it normally trades at, but the coin dealers are having incredible difficulty finding supplies to sell.Where do you think a oz. of silver settles and sells at when this is all done?
GLD is paper. Paper burns. Stacking is physical. Paper buys don’t create a shortage. Paper silver has been sold above actual supply for years. But, when physical silver gets bought up, that creates market movement. Any idea why that hasn't been the case for silver since this all began in February.Paper slv is down/flat in that time frame. Know spot price is out of site ($4/$5 over) versus the normal $1.50 premium it normally trades at, but the coin dealers are having incredible difficulty finding supplies to sell.Where do you think a oz. of silver settles and sells at when this is all done? The increase in premium over spot I believe has a lot to do with retail investors. I think the actual price spike comes when manufacturers start having difficulty buying it. But it’s heading there, as the shortage is the largest it’s been in around 200 years, and the manufacturing need is larger than ever.
No. I mentioned in another thread my connection to the gold industry. Do not invest in gold or silver. Side note 1: I had a nice surprise in about 2011 when I found a handful of Krugerrands I was paid with one summer when I was a kid a decade plus before. Did some yard work for an old man that summer, never once got molested, but was a bit disappointed he gave me foreign coins. I remember checking the price of those every week for a month and then I forgot about them, only to discover them at the perfect time when cleaning. Side note 2: I use cash almost every day, so I get a lot of loose change back. Since the pandemic started I’ve gotten a ton of >1963 coinage. Like half of a mason jar worth. Not for a while now, but still curious how those made it back into circulation. Interesting. Other than the occasional pre-1960s nickel you rarely see any pre-1964 dimes or quarters anymore. Used to regularly get some back in change pre-Hunt Bros attempt to corner the silver market, but when they drove silver way up in 1980 a lot of that old pre-1964 coinage disappeared from circulation. I never see it now.
No. I mentioned in another thread my connection to the gold industry. Do not invest in gold or silver. Side note 1: I had a nice surprise in about 2011 when I found a handful of Krugerrands I was paid with one summer when I was a kid a decade plus before. Did some yard work for an old man that summer, never once got molested, but was a bit disappointed he gave me foreign coins. I remember checking the price of those every week for a month and then I forgot about them, only to discover them at the perfect time when cleaning. Side note 2: I use cash almost every day, so I get a lot of loose change back. Since the pandemic started I’ve gotten a ton of >1963 coinage. Like half of a mason jar worth. Not for a while now, but still curious how those made it back into circulation. I must’ve missed that thread. How come you don’t recommend it?
No. I mentioned in another thread my connection to the gold industry. Do not invest in gold or silver. Side note 1: I had a nice surprise in about 2011 when I found a handful of Krugerrands I was paid with one summer when I was a kid a decade plus before. Did some yard work for an old man that summer, never once got molested, but was a bit disappointed he gave me foreign coins. I remember checking the price of those every week for a month and then I forgot about them, only to discover them at the perfect time when cleaning. Side note 2: I use cash almost every day, so I get a lot of loose change back. Since the pandemic started I’ve gotten a ton of >1963 coinage. Like half of a mason jar worth. Not for a while now, but still curious how those made it back into circulation. I must’ve missed that thread. How come you don’t recommend it? In addition to gold being outperformed by many other investment vehicles? The house of cards of something where the price is set by supply and demand and the supply is unknown to anyone.Basically, there is wayyy more gold above and below ground than statistics say there is. Gold charlatans would have you believe that we’ve extracted most of it, or reached peak gold, and that’s the opposite of reality - it’s an iceberg. Production numbers for on the book projects are vastly underreported. There are a lot of projects that began a decade ago during the boom which will begin to yield.
No. I mentioned in another thread my connection to the gold industry. Do not invest in gold or silver. Side note 1: I had a nice surprise in about 2011 when I found a handful of Krugerrands I was paid with one summer when I was a kid a decade plus before. Did some yard work for an old man that summer, never once got molested, but was a bit disappointed he gave me foreign coins. I remember checking the price of those every week for a month and then I forgot about them, only to discover them at the perfect time when cleaning. Side note 2: I use cash almost every day, so I get a lot of loose change back. Since the pandemic started I’ve gotten a ton of >1963 coinage. Like half of a mason jar worth. Not for a while now, but still curious how those made it back into circulation. I must’ve missed that thread. How come you don’t recommend it? In addition to gold being outperformed by many other investment vehicles? The house of cards of something where the price is set by supply and demand and the supply is unknown to anyone.Basically, there is wayyy more gold above and below ground than statistics say there is. Gold charlatans would have you believe that we’ve extracted most of it, or reached peak gold, and that’s the opposite of reality - it’s an iceberg. Production numbers for on the book projects are vastly underreported. There are a lot of projects that began a decade ago during the boom which will begin to yield. So there is WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAY more gold than anyone has use for?Makes sense.
No. I mentioned in another thread my connection to the gold industry. Do not invest in gold or silver. Side note 1: I had a nice surprise in about 2011 when I found a handful of Krugerrands I was paid with one summer when I was a kid a decade plus before. Did some yard work for an old man that summer, never once got molested, but was a bit disappointed he gave me foreign coins. I remember checking the price of those every week for a month and then I forgot about them, only to discover them at the perfect time when cleaning. Side note 2: I use cash almost every day, so I get a lot of loose change back. Since the pandemic started I’ve gotten a ton of >1963 coinage. Like half of a mason jar worth. Not for a while now, but still curious how those made it back into circulation. I must’ve missed that thread. How come you don’t recommend it? In addition to gold being outperformed by many other investment vehicles? The house of cards of something where the price is set by supply and demand and the supply is unknown to anyone.Basically, there is wayyy more gold above and below ground than statistics say there is. Gold charlatans would have you believe that we’ve extracted most of it, or reached peak gold, and that’s the opposite of reality - it’s an iceberg. Production numbers for on the book projects are vastly underreported. There are a lot of projects that began a decade ago during the boom which will begin to yield. So there is WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAY more gold than anyone has use for?Makes sense. Uh...no. Not exactly.Most of the 'reported' gold will never be mined. CAPEX way too high and many of these billion dollar resources are so fucking remote that getting a mine constructed would be impossible. The game is to 'prove up' a resource, then shuffle the claims/project off to the next guy higher up the food chain. Meanwhile the guys lower on the food chain raise just enough money to pay themselves a nice little salary every year in the hopes that their project is the next big thing. The gold charlatans know the gold bugs are just gullible enough that just one more investment will be the big payday/motherlode. Anything out of BC follows that scam. You're probably chasing a pump and dump with those fellas.Mining gold is not like the guys you see on Discovery channel with bailing wire and duct tape trying to get a few nuggets. Legitimate mines cost tens of millions of dollars to construct and the lead time to get through permitting/environmental/archaelogical, all sorts of shit.There is an actual shortage of physical gold. The squeeze will come in silver first simply because of the industrial uses like electric vehicles and lithium battery storage.@RatherBeBrewing is correct in that some projects will start to move toward production/yield again - but that's a slow road and there's hundreds of millions of ounces that will never see the light of day for the reasons above.
