Economy The price of silver has been SURGING as of late. Will probably break its 45 year old record this week last set in January 1980..

I have been waiting for someone else to notice!

Dad bought gold and silver in the 70’s when it first became legal to own. By the time I was old enough to be aware of it, we missed the peaks of the early 80’s. My whole life I advised him to sell and invest in flashier and more profitable investments. (I am I to real estate). For years I though dad had picked a bad investment.

Now Dad is laughing all the way to the bank. His “I told you so” has been pretty epic. He bought it as a hedge against runaway inflation. His father had seen the hyper inflation in pre war Germany. Dad says this is only the start.

With the Brecs countries moving to gold and many national banks moving away from dollars it’s hard to see anything stopping this rise for another few years.

Question for the hive mind: at today’s prices if you were sitting on a fair amount of both metals, how would you move between them?

Do you think silver is going to do better than a 80/1 split (so trade gold for silver)

Or, is gold in a special place as a hedge given brecs buying and other factors (Trade the silver for more gold)?
 
Stoic1 said:
I think I would value something given to me or i found more than something I bought. Metal detecting for coins sounds tough though.

20251007-092122.jpg


Hmmm the picture doesn't look like gold...

The krugerrand I got in trade when my dads friend needed money, the eagle I bought, but the weird 1912 coin with gold braid came from my grandfather. It looks weird but knowing where his roots came from I gotta imagine when he got it he musta felt pretty rich. I would never sell that one.
Click to expand...

They're beauts 😍

The coin with the braided gold around it is a Saint-Gaudens $20 gold piece, colloquially known as a "double eagle."

Are you, or your grandfather, Italian-American?

That piece complete with the braided gold on a chunky gold necklace is pretty common amongst older Italians in Philly/southeastern PA/central Jersey areas.
 
Long Dark Blues said:
They're beauts 😍

The coin with the braided gold around it is a Saint-Gaudens $20 gold piece, colloquially known as a "double eagle."

Are you, or your grandfather, Italian-American?

That piece complete with the braided gold on a chunky gold necklace is pretty common amongst older Italians in Philly/southeastern PA/central Jersey areas.
Click to expand...

No.

But lord almighty that sounds cringey.

Gonna look that coin up now.
 
UFCUCF said:
I have been waiting for someone else to notice!

Dad bought gold and silver in the 70’s when it first became legal to own. By the time I was old enough to be aware of it, we missed the peaks of the early 80’s. My whole life I advised him to sell and invest in flashier and more profitable investments. (I am I to real estate). For years I though dad had picked a bad investment.

Now Dad is laughing all the way to the bank. His “I told you so” has been pretty epic. He bought it as a hedge against runaway inflation. His father had seen the hyper inflation in pre war Germany. Dad says this is only the start.

With the Brecs countries moving to gold and many national banks moving away from dollars it’s hard to see anything stopping this rise for another few years.

Question for the hive mind: at today’s prices if you were sitting on a fair amount of both metals, how would you move between them?

Do you think silver is going to do better than a 80/1 split (so trade gold for silver)

Or, is gold in a special place as a hedge given brecs buying and other factors (Trade the silver for more gold)?
Click to expand...

"Question for the hive mind: at today’s prices if you were sitting on a fair amount of both metals, how would you move between them?"

To get the most profit and thus the most of the metal you want to trade into, sell privately through Craigslist to another collector for cash. Then take that cash to a reputable coin dealer to buy.

If you trade directly at a coin shop you lose grams or sometimes ounces to the spread and premiums.

NEVER go to a pawn shop or "we buy gold" place. Jewelers are a little better but you will still not do as well.

"Do you think silver is going to do better than a 80/1 split (so trade gold for silver)"

I do, but I couldn't tell you how much better. In 2011/2012 the ration was 35ish:1. Gold would need to slow down majorly and silver heat up a lot for the ratio to shrink to make the trade worthwhile, IMO.

IMO, they are decoupled compared to 2011/2012. So it could happen for sure.

"Or, is gold in a special place as a hedge given brecs buying and other factors (Trade the silver for more gold)?"

Gold is in a special place, people LOVE it. Governments love it. Institutions love it. It's lower volatility compared to silver has a lot to do with that.
 
Long Dark Blues said:
"Question for the hive mind: at today’s prices if you were sitting on a fair amount of both metals, how would you move between them?"

To get the most profit and thus the most of the metal you want to trade into, sell privately through Craigslist to another collector for cash. Then take that cash to a reputable coin dealer to buy.

If you trade directly at a coin shop you lose grams or sometimes ounces to the spread and premiums.

NEVER go to a pawn shop or "we buy gold" place. Jewelers are a little better but you will still not do as well.

"Do you think silver is going to do better than a 80/1 split (so trade gold for silver)"

I do, but I couldn't tell you how much better. In 2011/2012 the ration was 35ish:1. Gold would need to slow down majorly and silver heat up a lot for the ratio to shrink to make the trade worthwhile, IMO.

IMO, they are decoupled compared to 2011/2012. So it could happen for sure.

"Or, is gold in a special place as a hedge given brecs buying and other factors (Trade the silver for more gold)?"

Gold is in a special place, people LOVE it. Governments love it. Institutions love it. It's lower volatility compared to silver has a lot to do with that.
Click to expand...
Thanks! All good stuff. We have come to know a few coin show dealers who will get us really close to spot price. It’s safer than Craig’slist and (in his 90’s) dad likes to have “business” to do at the shows.

Here in FL they recently passed a law to accept gold as legal tender. I’m waiting to see if there is a title company that will let me buy a house with krugerands.

What a last 24 hours for both gold (up 2.3%) and silver (up 2.6%)!
 
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I have a LOT of silver. Over 1000 oz's given to me by my grandfather before he died. He made me PROMISE never to sell it unless it was 15:1 on gold. So I have a ways to go
 
cooks1 said:
I have a LOT of silver. Over 1000 oz's given to me by my grandfather before he died. He made me PROMISE never to sell it unless it was 15:1 on gold. So I have a ways to go
Click to expand...

I don't think you will ever sell it then, Congress had to artificially fix it in the late 1700s to 15:1 for it to be that low.

I don't believe it has ever been that low again in the history of the United States, but I'm not 100% on that.

The Roman Empire artificially fixed it to 12:1, medieval Europe fixed it to 9.5-ish:1.

It never stays fixed for very long though, despite any law.
 
As of 11am:

Gold @ $4,130.30
Silver @ $51.44

🤯🤯🤯
 
www.cbsnews.com

Gold's price is plunging. Here's why (and what investors should do next).

Gold prices are tumbling as market dynamics shift. Here's what's happening and how investors should respond.
www.cbsnews.com www.cbsnews.com

People saw the peak and sold

Nothing drastic like the headlines are making it seem, gold still at 4,000 an ounce and just erasing the gains of the last two weeks as people profited
 
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