I've done something similar for years with my niece and nephews - they each get a silver dollar on their birthday and an explanation like yours. I usually bring a tube of random year/mintmark U.S. Morgan and Peace dollars and let them choose which one they want. Some go for the "shiny" ones, but my one nephew "got it" right away and always goes for the oldest or non standard mintmark ones. I had to stop at year 10 though... it started getting EXPENSIVE! LOL But that got at least 2 of them in to coin collecting.
ECON Gold Up over $30.00 Silver over $30.00 (daily PM tracking)
- Thread starter AuEagle
- Start date
I've done something similar for years with my niece and nephews - they each get a silver dollar on their birthday and an explanation like yours. I usually bring a tube of random year/mintmark U.S. Morgan and Peace dollars and let them choose which one they want. Some go for the "shiny" ones, but my one nephew "got it" right away and always goes for the oldest or non standard mintmark ones. I had to stop at year 10 though... it started getting EXPENSIVE! LOL But that got at least 2 of them in to coin collecting.
We did the same thing for our Grandchildren this year! Ours lit up like lite bulbs! Yep they get it!
Great Northwet
Veteran Member
I do the same.
Niece and Nephew both got Silver Eagles for years, but sometimes Maples because part of my sisters family is Canadien.
My best friend is a multi-millionaire so when his twin girls were born I got them each a coin. When the youngest was born 5 years ago, I reasoned that since the twins each got one, she should get 2 just to keep up. So I gave her more exotic Silver coins. The Arctic Fox is a 1 1/4oz. and a Panda.
My friend still says that it is the best gift anyone has ever gotten for the girls.
The 2 oldest are now almost 11 and he tells me that the time will come up soon enough to explain money to them. I asked him how he is going to do that? He replied, that's your job.
One of our members-Shane has a video about explaining money to people. I bet I can find it or bother him to get it when the time comes.
Great Northwet
Veteran Member
Sorry I thought it was you, still a couple years away though. Friend told me that after they get cell phones they will want to do banking transactions and that is the signal.
Hfcomms
EN66iq
Or more accurately the currencies they are valued in are going down….way down.
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Southside
Has No Life - Lives on TB
On a rail, quickly!
doctor_fungcool
TB Fanatic
To the MOON Alice!
Hfcomms
EN66iq
That is why for me the metals are not an investment but a very liquid savings account. I do believe when the rush for physical metal takes place that your overall purchasing power is likely to go way up but that isn’t the primary reason to acquire them. It is like the old passbook savings account paying 5% but with today’s inflation more like 10% or 15%.
Jeff Allen
Producer
Yesterday on Macro Voices Luke Gorman said he expected gold to hit 3k in Q1 of ‘25
J
J
Not that liquid when your coin shops don't have enough fiat dollars to buy an oz and you don't want a check.
Hfcomms
EN66iq
A lot more liquid than a frozen bank account or brokerage account that can go ‘poof’ right before your eyes being leveraged to the hilt. Gold and silver are money whereas the paper notes in your purse, checkbook or debit card are currency and yes there is a big difference between the two.
I can convert metal into currency locally if I want to and there are no coin shops where I live, or I can just spend the metal directly as I even have a local car dealer that flat out told me he would sell me any vehicle on the lot for gold coin. If things are still functioning if I want to I can sell back to any number of dealers I have bought from in the past.
With epic bond losses, the stock markets turning over and never ending inflation the ‘money’ seeks safe havens and the last of the liquid safe havens are monetary metal in your possession. There will not be any shortage of fiat dollars in the future as the printing presses are running on overtime….they just don’t buy very much and to that end at least for me I have no reason to sell any metal as long as fiat currency is still acceptable.
West
Senior
Right.
Plus you might have a neighbor like me who has only 1/4 ounce of gold, but has a extra 100 gallon tank of propane that you need. So you give me a half ounce of gold and I give you back my 1/4 ounce gold in change. Because I only wanted a 1/4 ounce for the tank of propane.
Amazing how that works for ever.
I’m reminded, too, that when TSHTF and you’re desperate for immediate attention for your gravely sick grandchild from the sole local overworked doctor, dentist and/or pharmacist with a semi mob outside their door all clamoring to be next, you need to have then what that professional would most value, and that might not necessarily be what you most valued beforehand, that will get your grandchild to the front of their line.
Nobody is going to be much impressed then with your credit cards or bitcoins that don’t work or your last bank or 401K statement, possibly not even paper money and they might have already taken in trade all the live chickens, canned food, cigarettes and liquor they’d ever want.
You might just find then, even if you’re not a fan of silver and gold, that that’s going to be exactly what those essential services for your grandchildren require for their most prompt go-to-front-of-the-line lifesaving attention.
Again, it’s not always about what you value and would eagerly take in trade, but also what those you might trade with would most value.
For instance, I don’t smoke and drink only moderately and there’s some popular ammo calibers I don’t even have guns for, but have loaded up on all of them for future trading cause that might just be the ticket required for something essential I need.
For same reason, even if not a fan of PM’s, it’d be smart to have some for trade, yes?
Make sense?
Panic Early, Beat the Rush!
- Shane
Nobody is going to be much impressed then with your credit cards or bitcoins that don’t work or your last bank or 401K statement, possibly not even paper money and they might have already taken in trade all the live chickens, canned food, cigarettes and liquor they’d ever want.
You might just find then, even if you’re not a fan of silver and gold, that that’s going to be exactly what those essential services for your grandchildren require for their most prompt go-to-front-of-the-line lifesaving attention.
Again, it’s not always about what you value and would eagerly take in trade, but also what those you might trade with would most value.
For instance, I don’t smoke and drink only moderately and there’s some popular ammo calibers I don’t even have guns for, but have loaded up on all of them for future trading cause that might just be the ticket required for something essential I need.
For same reason, even if not a fan of PM’s, it’d be smart to have some for trade, yes?
Make sense?
Panic Early, Beat the Rush!
- Shane
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Hfcomms
EN66iq
It is engrained in our psyche that the metal has value when everything goes wonky. I’ve posted it before but in Venezuela they mine placer gold and weigh out the flakes to pay for haircuts and daily expenses. I hope it doesn’t come to that level of desperation here. Twenty five years ago Venezuela was as prosperous as the U.S. and just as cosmopolitan. Economic collapse has a way of returning us to the basics.
In Venezuela, people break off flakes of gold to pay for meals and haircuts
Local currency, the bolivar, has been rendered almost worthless by hyperinflation
financialpost.com
The only reason that we have it in our basket of assets is not because of some thought of it returning to daily currency but as a physical asset that will transfer wealth from one generation to the next. But we’ve also made sure that there are other assets in that basket just in case there is a period of time where precious metals aren’t recognized as a form of currency, is regulated and/or taxed to be near valueless, etc.
I’m not someone who believes there will be government officials banging on your door looking for grandma’s silver or jewelry, much less coinage; however, I do foresee the possibility of it being regulated into a “unlikely to be usable” asset at some point. We still have some. We just don’t spend a lot of our liquidity on it as other assets are currently more profitable which allows for an expanding “basket” as we go along.
Southside
Has No Life - Lives on TB
Southside
Has No Life - Lives on TB
On March 29, 1973, the US left Vietnam.
If you were Vietnamese, ships were leaving constantly. It was 2 oz of gold/person for passage to the US.
Why gold?
It was the ONLY thing that had any value left after the war.
Switchback
Veteran Member
Plus a $100+ premium.
West
Senior
Wow, it hit $2800 today. One day earlier than the end of the month.
All who doubted me can send me a silver dollar. I never sell so your be donating to a non profit stacker...
I never thought gold would get this high. It’s a perfect indicator for overall economic health.
Hfcomms
EN66iq
I spent more than 5K with Apmex on Monday for a few numismatics and am already up a couple hundred bucks and they are still in transit. Premiums on slabbed and graded numismatics are incredibly low right now but won’t be much longer.
A brand new one ounce gold eagle will cost you just over 3K if you pay with a credit card and a hundred year old MS-63 St. Gaudens one ounce coin slabbed and graded by PCGS is going for just less than 3K. It is basically going for a little over spot with no premium at all.
Back in 2011 coin dealers were buying that coin from you for $400 over spot.
Crazy….
A brand new one ounce gold eagle will cost you just over 3K if you pay with a credit card and a hundred year old MS-63 St. Gaudens one ounce coin slabbed and graded by PCGS is going for just less than 3K. It is basically going for a little over spot with no premium at all.
Back in 2011 coin dealers were buying that coin from you for $400 over spot.
Crazy….
desert_fox
Threadkiller
Might be something to watch:
https://www.reuters.com/world/uk/lo...-bank-gold-after-big-shipments-us-2025-01-29/
January 29, 20255:57 PM MSTUpdated a day ago
LONDON, Jan 29 (Reuters) - London bullion market players are racing to borrow gold from central banks, which store bullion in London, following a surge in gold deliveries to the United States on speculation of potential import tariffs there, two sources familiar with the matter said.
The minimum waiting time to load gold out of the Bank of England, which stores gold for central banks, has reached four weeks, one of the sources said. In normal times, the release time is a few days or a week.
The BoE declined to comment when asked about the queue.
U.S. President Donald Trump has not mentioned precious metals in his tariff plans, but the risk has been enough to boost gold deliveries to New York as part of the market sought to hedge its positions on the U.S. COMEX (CME.O), opens new tab exchange and part sought to benefit from a jump in the price premium of COMEX futures over London spot prices .
London is home to the world's largest over-the-counter gold trading hub, where market players trade directly with each other rather than via an exchange.
"The key with the BoE is that they are not a commercial vault so not prepared to handle the onslaught of gold borrowing banks are requesting from the central banks," said Robert Gottlieb, an industry expert and former head of precious metals at Koch Supply and Trading. The size of so-called Loco London free float, the amount of gold readily available to the London OTC market stored in London, has fallen after the jump in supplies to New York.
Over the last two months, 12.2 million troy ounces of gold were delivered to COMEX-approved warehouses , raising stocks there by 70% to 29.8 million ounces, the highest since August 2022. Reports of the flow of gold to New York attracted the attention of the British parliament's Treasury Committee, one of whose members asked BoE Governor Andrew Bailey on Wednesday whether he saw any risks in this development.
"We are not in the gold standard anymore, it doesn't have significance for policy in that sense," Bailey replied, referring to an extinct monetary system where gold backed the value of a currency.
However, London remained a major gold market, and "if you want to be involved in that market and you want to trade and use your gold, you really need to have it in London," Bailey added.
Deliveries to the U.S. left less free-float metal in London vaults, the metal that is not owned by central banks or holdings of physically-backed gold exchange-traded funds. This in turn boosted demand from players in London who are ready to lease their gold and make it available to the OTC market.
Liquidity challenges in other large trading hubs are less pronounced than in London but are being felt globally, said Alexander Zumpfe, a precious metals trader at Heraeus Metals.
"The logistical complexities of moving large quantities of gold, particularly from Europe to the U.S., are amplifying these stresses. Asia has also seen some knock-on effects, particularly in markets like Singapore and Hong Kong," Zumpfe added.
https://www.reuters.com/world/uk/lo...-bank-gold-after-big-shipments-us-2025-01-29/
London gold market queues up to borrow central bank gold after big shipments to US, sources say
By Polina DevittJanuary 29, 20255:57 PM MSTUpdated a day ago
LONDON, Jan 29 (Reuters) - London bullion market players are racing to borrow gold from central banks, which store bullion in London, following a surge in gold deliveries to the United States on speculation of potential import tariffs there, two sources familiar with the matter said.
The minimum waiting time to load gold out of the Bank of England, which stores gold for central banks, has reached four weeks, one of the sources said. In normal times, the release time is a few days or a week.
The BoE declined to comment when asked about the queue.
U.S. President Donald Trump has not mentioned precious metals in his tariff plans, but the risk has been enough to boost gold deliveries to New York as part of the market sought to hedge its positions on the U.S. COMEX (CME.O), opens new tab exchange and part sought to benefit from a jump in the price premium of COMEX futures over London spot prices .
London is home to the world's largest over-the-counter gold trading hub, where market players trade directly with each other rather than via an exchange.
"The key with the BoE is that they are not a commercial vault so not prepared to handle the onslaught of gold borrowing banks are requesting from the central banks," said Robert Gottlieb, an industry expert and former head of precious metals at Koch Supply and Trading. The size of so-called Loco London free float, the amount of gold readily available to the London OTC market stored in London, has fallen after the jump in supplies to New York.
Over the last two months, 12.2 million troy ounces of gold were delivered to COMEX-approved warehouses , raising stocks there by 70% to 29.8 million ounces, the highest since August 2022. Reports of the flow of gold to New York attracted the attention of the British parliament's Treasury Committee, one of whose members asked BoE Governor Andrew Bailey on Wednesday whether he saw any risks in this development.
"We are not in the gold standard anymore, it doesn't have significance for policy in that sense," Bailey replied, referring to an extinct monetary system where gold backed the value of a currency.
However, London remained a major gold market, and "if you want to be involved in that market and you want to trade and use your gold, you really need to have it in London," Bailey added.
Deliveries to the U.S. left less free-float metal in London vaults, the metal that is not owned by central banks or holdings of physically-backed gold exchange-traded funds. This in turn boosted demand from players in London who are ready to lease their gold and make it available to the OTC market.
Liquidity challenges in other large trading hubs are less pronounced than in London but are being felt globally, said Alexander Zumpfe, a precious metals trader at Heraeus Metals.
"The logistical complexities of moving large quantities of gold, particularly from Europe to the U.S., are amplifying these stresses. Asia has also seen some knock-on effects, particularly in markets like Singapore and Hong Kong," Zumpfe added.
alpha
Veteran Member
As an example of how manipulated precious metals prices are, consider this...
In 2000 the average price of one ounce of gold was $279.29 - Today it has risen to $2,800
In 2010 the price of one Bitcoin was $0.10 - Today it has risen to $105,301.29
None the less, though I can cry over missed opportunity and think of all the ounces of gold that one Bitcoin could buy today if I had thought that an algorithmic "currency" would amount to anything, it didn't stop me from stacking! When the bottom falls out and manipulation becomes useless, what will be the value of one ounce of gold?
In 2000 the average price of one ounce of gold was $279.29 - Today it has risen to $2,800
In 2010 the price of one Bitcoin was $0.10 - Today it has risen to $105,301.29
None the less, though I can cry over missed opportunity and think of all the ounces of gold that one Bitcoin could buy today if I had thought that an algorithmic "currency" would amount to anything, it didn't stop me from stacking! When the bottom falls out and manipulation becomes useless, what will be the value of one ounce of gold?
ShadowMan
Designated Grumpy Old Fart
In my mind....GOLD is something that is very real. It's tangible, tactile, you can put it in your pocket. It can be made into actual useful "things. Bitcoin....not so much, just electrons and imagination with FRN's not far behind. Well, FRN's you could use as toilet paper and some currencies in the past have actually had little value beyond that, or starting a fire. BUT GOLD, is very real and very useful beyond just the value we humans put on it in our minds.
That's just my humble opinion.....for what little that's worth.
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West
Senior
Barbarian!
If people like us was born just 100 years ago we would be so rich!
Be buying eggs for $.10 cents and charging people about $5 silver dollars a hour for our services.
I digress....
West
Senior
$279 dollars back then is like $2000 today. But for me $279 back then was less physically demanding on my body to get the job done.
IDK...should of, would of, could of....
When the bottom falls out and manipulation becomes useless, what will be the value of one ounce of gold?
It will be valued at whatever people are willing to trade for it. In some circumstances it will be worth nothing. In some cases, it could be worth a ride out of Dodge. It is all going to depend on whether other people are willing to take your gold in trade for what they have to offer.
It will be valued at whatever people are willing to trade for it. In some circumstances it will be worth nothing. In some cases, it could be worth a ride out of Dodge. It is all going to depend on whether other people are willing to take your gold in trade for what they have to offer.
Hfcomms
EN66iq
Nobody really knows how Bitcoin et al are going to fare until we get a real economic and banking crisis so it shouldn’t be long now and we will see if the crypto supporters are proven right or not. I know what physical metal has done for millennia and central banks aren’t hoarding it for nothing.
MartinK9
Contributing Member
That is the crux, my cousins will inherit my PMs when I pass, what they do with them is none of my business. Hopefully they'll lose them in a tragic boating accident like I did.
It's not just a storage of wealth, it's the avoidance of UK Death Tax.
West
Senior
Also if I have a great, grand daughter (or daughter)and a good suiter for her....but they need gold wedding bands to seal the deal... I'll fabricate some nice rings for them!
Of note the price or value of the gold to make the rings, would just be a self imposed liability on me. I'll choke it up and get the rings done, no matter the cost. Dang straight.
Of note the price or value of the gold to make the rings, would just be a self imposed liability on me. I'll choke it up and get the rings done, no matter the cost. Dang straight.
Gitche Gumee Kid
Veteran Member
Welcome to the TB2K board , MartinK9.
GGK
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Taco Salad
Contributing Member
I agree. At least with tulip bulbs when the bottom dropped out you could still plant them so people would have pretty flowers to throw on your grave when you starved to death.
MartinK9
Contributing Member
Thankyou.