ECON Gold Up over $30.00 Silver over $30.00 [OP from July 2024]

[Johnny Twoguns]

Game changer?
(I think her estimates are way off)

"It is forecast that the world's silver supply in 2023 will amount to nearly 1.03 billion ounces. Mine production of silver in 2022 yielded 822.4 million ounces, and was the world's largest source of the silver supply."

 

[Southside]

Alright, it came back as, "Tooled". It didn't state where. I don't see any of the telltale brush marks. The ear doesn't look as bad in person. I am just not seeing it. It's important for me to learn from this.

Here's a picture of an MS 63 on the top and mine is on the bottom:View attachment 503553View attachment 503554:

As I said before, that is a beautiful coin.

 

[AuEagle]

Pm's gettin' smoked today.
Gold $2611.00 Down $32.00
Silver $30.27 Down $1.40
GSR 86.2/1

Homepage | GoldSeek

goldseek.com

 

[Johnny Twoguns]

 

[Kathy in FL]

View attachment 504456

And anyone is supposed to believe rumors on Chinese television from the Chinese government? That's just sad.

 

[1eagle]

And anyone is supposed to believe rumors on Chinese television from the Chinese government? That's just sad.

and dismissing anything about China out of hand is sad as well.

China’s US Debt Sales Fuel Speculation

China’s US Debt Sales Fuel Speculation | Global Finance Magazine

gfmag.com

 

[Johnny Twoguns]

And anyone is supposed to believe rumors on Chinese television from the Chinese government? That's just sad.

And you are blocking out information on 1.6 billion people on the planet.
Sad. So sad.

 

[Doc1]

Pm's gettin' smoked today.
Gold $2611.00 Down $32.00
Silver $30.27 Down $1.40
GSR 86.2/1

Homepage | GoldSeek

goldseek.com

Not a thing to be worried about. The smash was pure manipulation and won't hold. Additionally, the Silver world got exceptionally good news today, as the Russia's central bank announced that it will be buying Silver (as well as Gold) in future. As far as I know, they are the first major central bank to announce such a move.

That can be nothing but good news for Silver stackers, as it will put more pressure on already stressed supplies.

Best
Doc

 

[AuEagle]

Up down, doesn't really matter.
I believe Gold will hit $2800 & Silver will hit $36.00 by years end, possibly higher.
Russia & China buy Gold & Silver, U.S. prints paper debt.
JMHO. Buy while you can.

 

[Southside]

More normal up market activity.
No concerns.

 

[Hognutz]

https://twitter.com/i/web/status/1843680154905686274

View: https://twitter.com/randpaul/status/1843680154905686274?s=61

 

[West]

https://twitter.com/i/web/status/1843680154905686274

View: https://twitter.com/randpaul/status/1843680154905686274?s=61

Logical and truth!

But some PHD that's also a bureaucrat in the department of truth, will say......

"Disinformation"!

 

[Blacknarwhal]

And anyone is supposed to believe rumors on Chinese television from the Chinese government? That's just sad.

Yeah...the Chinese government is not what I'd call a credible source either.....

 

[Great Northwet]

Yeah...the Chinese government is not what I'd call a credible source either.....

A friend showed me an article about Costco starting to sell 25oz tubes of Canadien silver Maple leafs. I think it was on yahoo.finance. I can't find the article there and checked costco.com and can't find anything there either.

But the price was so close to spot that I keep looking for it. The article was dated October 3 2024. If anybody can find anything, I'd like to know about it.

 

[WOS]

I do see this was posted back in March:

Costco now offering silver coins bearing likeness of Charles III for $675 a pack

The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.

nypost.com

Costco now offering silver coins bearing likeness of Charles III for $675 a pack​

By
Ariel Zilber
Published March 8, 2024, 11:34 a.m. ET

Costco hopes to strike gold again — this time with silver.

The big box retailer — which said it sold more than $100 million worth of gold bars in its most recent quarter — said has begun selling 25-count tubes of an ounce of Canada Maple Leaf Silver Coins for $675 apiece on its web site.

The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.

Costco is doubling down on its strategy of appealing to investors in precious metals including gold and silver.David Tucker/News-Journal / USA TODAY NETWORK
Costco members are permitted to purchase a maximum of five. All purchases are non-refundable.

The price works out to $27 per coin — a premium to the spot price of $24.46 where silver futures were trading mid-morning Friday.

The move is the latest attempt by the retail chain to appeal to precious metal collectors who have been snapping up Costco’s $2,000 gold bars online.

In the most recent quarter, Costco sold more than $100 million worth of gold bars — prompting the company to double down on precious metals, according to CNN.

Those who have invested in precious metals would have seen a nice return over the course of the last 12 months.
4
The big box retailer is marketing 25-count tubes of an ounce of Canada Maple Leaf Silver Coins for $675 apiece on its web site.Costco
4
The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.Costco
Gold has risen 18% from a year ago while silver is up 21%.

Experts attribute the rise in value of precious metals to anticipated interest rate cuts by the Federal Reserve.
Since precious metals don’t pay out interest unlike other assets such as Treasury bonds, demand for gold and silver rises when rates are expected to drop.

Costco hopes to replicate the success of its $2,000 gold bars.Costco
Gold and silver are also thought to be safe hedges against inflation since investors expect precious metals to hold their value.

Costco fell short of Wall Street estimates for quarterly sales on Thursday due to tepid demand for higher margin goods, pulling its shares down 5% in extended trading.

With elevated day-to-day costs hammering household budgets, customers have kept a tight lid on their spending, particularly for big-ticket non-essential purchases such as home furnishings, sporting goods and garden supplies.
In January, US retail sales fell by the most in 10 months with decreases in sales of electronics and appliances as well as clothing, health and personal care products.

However, demand for Costco’s consumables and groceries held steady and helped the company’s comparable sales, excluding the impact of fuel and currency fluctuations, jump 5.8% in the second quarter.
With Post Wires

 

[Slydersan]

A friend showed me an article about Costco starting to sell 25oz tubes of Canadien silver Maple leafs. I think it was on yahoo.finance. I can't find the article there and checked costco.com and can't find anything there either.

But the price was so close to spot that I keep looking for it. The article was dated October 3 2024. If anybody can find anything, I'd like to know about it.

They sell out almost immediately. But I can confirm that yes you can buy Canadian leafs and American silver Eagles online and shipped to your door. They also, at times, have 10oz Canadian bars...but again...they sell out fast.

 

[West]

I do see this was posted back in March:

Costco now offering silver coins bearing likeness of Charles III for $675 a pack

The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.

nypost.com

Costco now offering silver coins bearing likeness of Charles III for $675 a pack​

By
Ariel Zilber
Published March 8, 2024, 11:34 a.m. ET

Costco hopes to strike gold again — this time with silver.

The big box retailer — which said it sold more than $100 million worth of gold bars in its most recent quarter — said has begun selling 25-count tubes of an ounce of Canada Maple Leaf Silver Coins for $675 apiece on its web site.

The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.

Costco is doubling down on its strategy of appealing to investors in precious metals including gold and silver.David Tucker/News-Journal / USA TODAY NETWORK
Costco members are permitted to purchase a maximum of five. All purchases are non-refundable.

The price works out to $27 per coin — a premium to the spot price of $24.46 where silver futures were trading mid-morning Friday.

The move is the latest attempt by the retail chain to appeal to precious metal collectors who have been snapping up Costco’s $2,000 gold bars online.

In the most recent quarter, Costco sold more than $100 million worth of gold bars — prompting the company to double down on precious metals, according to CNN.

Those who have invested in precious metals would have seen a nice return over the course of the last 12 months.
4
The big box retailer is marketing 25-count tubes of an ounce of Canada Maple Leaf Silver Coins for $675 apiece on its web site.Costco



4
The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.Costco
Gold has risen 18% from a year ago while silver is up 21%.

Experts attribute the rise in value of precious metals to anticipated interest rate cuts by the Federal Reserve.
Since precious metals don’t pay out interest unlike other assets such as Treasury bonds, demand for gold and silver rises when rates are expected to drop.

Costco hopes to replicate the success of its $2,000 gold bars.Costco
Gold and silver are also thought to be safe hedges against inflation since investors expect precious metals to hold their value.

Costco fell short of Wall Street estimates for quarterly sales on Thursday due to tepid demand for higher margin goods, pulling its shares down 5% in extended trading.

With elevated day-to-day costs hammering household budgets, customers have kept a tight lid on their spending, particularly for big-ticket non-essential purchases such as home furnishings, sporting goods and garden supplies.
In January, US retail sales fell by the most in 10 months with decreases in sales of electronics and appliances as well as clothing, health and personal care products.

However, demand for Costco’s consumables and groceries held steady and helped the company’s comparable sales, excluding the impact of fuel and currency fluctuations, jump 5.8% in the second quarter.
With Post Wires

That's the most ugly clown profile I've ever seen!
If ever a silver coin should sell for a loss... there's your sign.

I have a two ounce Trump coin that's going to go for a high premium, if I have my way.

 

[Great Northwet]

I do see this was posted back in March:

Costco now offering silver coins bearing likeness of Charles III for $675 a pack

The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.

nypost.com

Costco now offering silver coins bearing likeness of Charles III for $675 a pack​

By
Ariel Zilber
Published March 8, 2024, 11:34 a.m. ET

Costco hopes to strike gold again — this time with silver.

The big box retailer — which said it sold more than $100 million worth of gold bars in its most recent quarter — said has begun selling 25-count tubes of an ounce of Canada Maple Leaf Silver Coins for $675 apiece on its web site.

The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.

Costco is doubling down on its strategy of appealing to investors in precious metals including gold and silver.David Tucker/News-Journal / USA TODAY NETWORK
Costco members are permitted to purchase a maximum of five. All purchases are non-refundable.

The price works out to $27 per coin — a premium to the spot price of $24.46 where silver futures were trading mid-morning Friday.

The move is the latest attempt by the retail chain to appeal to precious metal collectors who have been snapping up Costco’s $2,000 gold bars online.

In the most recent quarter, Costco sold more than $100 million worth of gold bars — prompting the company to double down on precious metals, according to CNN.

Those who have invested in precious metals would have seen a nice return over the course of the last 12 months.
4
The big box retailer is marketing 25-count tubes of an ounce of Canada Maple Leaf Silver Coins for $675 apiece on its web site.Costco
4
The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.Costco
Gold has risen 18% from a year ago while silver is up 21%.

Experts attribute the rise in value of precious metals to anticipated interest rate cuts by the Federal Reserve.
Since precious metals don’t pay out interest unlike other assets such as Treasury bonds, demand for gold and silver rises when rates are expected to drop.

Costco hopes to replicate the success of its $2,000 gold bars.Costco
Gold and silver are also thought to be safe hedges against inflation since investors expect precious metals to hold their value.

Costco fell short of Wall Street estimates for quarterly sales on Thursday due to tepid demand for higher margin goods, pulling its shares down 5% in extended trading.

With elevated day-to-day costs hammering household budgets, customers have kept a tight lid on their spending, particularly for big-ticket non-essential purchases such as home furnishings, sporting goods and garden supplies.
In January, US retail sales fell by the most in 10 months with decreases in sales of electronics and appliances as well as clothing, health and personal care products.

However, demand for Costco’s consumables and groceries held steady and helped the company’s comparable sales, excluding the impact of fuel and currency fluctuations, jump 5.8% in the second quarter.
With Post Wires

Thank you, WOS I think that is the article. It's March 8. I wonder why Yahoo was posting it on Oct. 3rd. Not conspiracy theory, somebody probably just made a mistake entry somewhere.

 

[WOS]

Thank you, WOS I think that is the article. It's March 8. I wonder why Yahoo was posting it on Oct. 3rd. Not conspiracy theory, somebody probably just made a mistake entry somewhere.

Your welcome. Who knows why Yahoo posted it (again) in October, but I will say that I come across articles fairly often that I'm sure were posted in the past, often months ago. Could be the "news outlets" trying to keep their outgoing feeds "full" as it were.....

 

[von Koehler]

According to Elliott Wave theory, gold is in a minor wave correction (IV), which has a potential target of $2560ish.

After that low point, the fifth wave (V) should commence, taking gold up to new all time highs.

 

[Johnny Twoguns]

I do see this was posted back in March:

Costco now offering silver coins bearing likeness of Charles III for $675 a pack

The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.

nypost.com

Costco now offering silver coins bearing likeness of Charles III for $675 a pack​

By
Ariel Zilber
Published March 8, 2024, 11:34 a.m. ET

Costco hopes to strike gold again — this time with silver.

The big box retailer — which said it sold more than $100 million worth of gold bars in its most recent quarter — said has begun selling 25-count tubes of an ounce of Canada Maple Leaf Silver Coins for $675 apiece on its web site.

The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.

Costco is doubling down on its strategy of appealing to investors in precious metals including gold and silver.David Tucker/News-Journal / USA TODAY NETWORK
Costco members are permitted to purchase a maximum of five. All purchases are non-refundable.

The price works out to $27 per coin — a premium to the spot price of $24.46 where silver futures were trading mid-morning Friday.

The move is the latest attempt by the retail chain to appeal to precious metal collectors who have been snapping up Costco’s $2,000 gold bars online.

In the most recent quarter, Costco sold more than $100 million worth of gold bars — prompting the company to double down on precious metals, according to CNN.

Those who have invested in precious metals would have seen a nice return over the course of the last 12 months.
4
The big box retailer is marketing 25-count tubes of an ounce of Canada Maple Leaf Silver Coins for $675 apiece on its web site.Costco
4
The front of the coin shows an image depicting a maple leaf while the back displays a likeness of King Charles III.Costco
Gold has risen 18% from a year ago while silver is up 21%.

Experts attribute the rise in value of precious metals to anticipated interest rate cuts by the Federal Reserve.
Since precious metals don’t pay out interest unlike other assets such as Treasury bonds, demand for gold and silver rises when rates are expected to drop.

Costco hopes to replicate the success of its $2,000 gold bars.Costco
Gold and silver are also thought to be safe hedges against inflation since investors expect precious metals to hold their value.

Costco fell short of Wall Street estimates for quarterly sales on Thursday due to tepid demand for higher margin goods, pulling its shares down 5% in extended trading.

With elevated day-to-day costs hammering household budgets, customers have kept a tight lid on their spending, particularly for big-ticket non-essential purchases such as home furnishings, sporting goods and garden supplies.
In January, US retail sales fell by the most in 10 months with decreases in sales of electronics and appliances as well as clothing, health and personal care products.

However, demand for Costco’s consumables and groceries held steady and helped the company’s comparable sales, excluding the impact of fuel and currency fluctuations, jump 5.8% in the second quarter.
With Post Wires

$67 for coins of the pedo satanist? No thanks.

On other news........................ Sheckman says at $144,000 per oz of gold, Trump could pay off or neutralize the debt. IF the holders of the debt agreed at that price...........................

 

[Johnny Twoguns]

According to Elliott Wave theory, gold is in a minor wave correction (IV), which has a potential target of $2560ish.

After that low point, the fifth wave (V) should commence, taking gold up to new all time highs.

I used to follow Elliot Wave for years and years. Then I lost my faith.

Doesn't work or nothing can be correct about such massive manipulations and fraud? I don't know. I just lost interest in it. Not disparaging your posting it of course, I just didn't really find it accurate over months and years.

 

[Doc1]

I used to follow Elliot Wave for years and years. Then I lost my faith.

Doesn't work or nothing can be correct about such massive manipulations and fraud? I don't know. I just lost interest in it. Not disparaging your posting it of course, I just didn't really find it accurate over months and years.

Agreed and this applies to all types of technical analysis, not only Elliot Wave. The problem, as you note, is the massive manipulation in the precious metals space. No type of analysis can account for that.

What I'm absolutely certain of is that in the foreseeable future, the nominal US Dollar price of Gold and Silver will continue to rise. No, not every day, week or even month will see a rise, but the general trend over years will be higher. Why? Because Washington and the Fed are terminally addicted to deficit spending and increased inflation...and inflation is nothing more than the Government and Central Bank creating excessive amounts of "money," which constantly devalues existing money and makes newly-created money less valuable.

I am giving a presentation on money to a church group in ten days. One of the props I'll used is a 1902 $20 Dollar Gold piece my father left me when he passed.

Imagine that in 1924, your great grandfathers were concerned about their family's future and decided to bury some money. If, in 1924 your paternal great grandfather had buried a $20 bill in a mason jar - and $20 was a considerable sum of money in 1924 - and your maternal great grandfather had buried a $20 Gold piece and if, in 2024 you dug both up, what do you think they'd be worth?

Before I answer that question, understand that in 1924 you could take a $20 bill into any bank and exchange it for a $20 Gold piece or you could exchange a $20 bill for a $20 Gold piece.

So, in 2024 the value of the old, buried $20 bill would be exactly $20 in today's currency. The $20 Gold piece would be worth roughly $2800!

Think about that when you consider how much your government has eviscerated the value of the nation's currency!

Best
Doc

 

[von Koehler]

I used to follow Elliot Wave for years and years. Then I lost my faith.

Doesn't work or nothing can be correct about such massive manipulations and fraud? I don't know. I just lost interest in it. Not disparaging your posting it of course, I just didn't really find it accurate over months and years.

All I can say is, by following Elliott Wave analysis I made over a 70 percent profit from gold in the last couple of months. I closed out this position and took profits.

I am patiently waiting for the minor down wave (4) to burn itself out, and then return to the long position. The last upward wave should be very profitable.

 

[mecoastie]

$67 for coins of the pedo satanist? No thanks.

On other news........................ Sheckman says at $144,000 per oz of gold, Trump could pay off or neutralize the debt. IF the holders of the debt agreed at that price...........................

675 for 25 coins is 27 each not 67.

 

[1eagle]

$67 for coins of the pedo satanist? No thanks.

On other news........................ Sheckman says at $144,000 per oz of gold, Trump could pay off or neutralize the debt. IF the holders of the debt agreed at that price...........................

Problem with that price is finding a buyer to cash out. I suspect most coin and pawn shops aren’t capitalized to buy at that price.

 

[West]

Problem with that price is finding a buyer to cash out. I suspect most coin and pawn shops aren’t capitalized to buy at that price.

Most of the local pawn shops in my area might give $20 AG per ounce and about $1500 for AU. Then stack it in their safes. Only one pawn broker I know puts it back out at a high premium above spot.

Now the LCS almost a 2 hrs. Drive for me and is also a Exchange buys PMs at spot or a little less. And sells with a vary comparative premium and usually less than the big named exchanges.

 

[Doc1]

Problem with that price is finding a buyer to cash out. I suspect most coin and pawn shops aren’t capitalized to buy at that price.

Anyone who seriously stacks metal for retirement or as an investment should be looking for buyers long before the time of need. Whether at $1,444.00 or $144,000.00 there are always Gold buyers out there.

The pool of potential Gold buyers does shrink as the price goes up, but it doesn't disappear. I suspect that at some point, banks might even become buyers and the US Government might be a buyer, too. Also, If Gold does hit $144,000/oz the US Dollar will have been devalued to such a degree that $144,000 won't seem like the insurmountable price it appears to be now.

Imagine a future where $144,000 is roughly the cost of an average used car or truck and that figure won't seem quite as intimidating.

Before anyone scoffs at that notion, just remember that many years ago people would've thought you were crazy if you'd suggested that milk would ever become $5/gallon.

Best
Doc

 

[Southside]

Aah, for the love of fractional gold.

 

[West]

Anyone who seriously stacks metal for retirement or as an investment should be looking for buyers long before the time of need. Whether at $1,444.00 or $144,000.00 there are always Gold buyers out there.

The pool of potential Gold buyers does shrink as the price goes up, but it doesn't disappear. I suspect that at some point, banks might even become buyers and the US Government might be a buyer, too. Also, If Gold does hit $144,000/oz the US Dollar will have been devalued to such a degree that $144,000 won't seem like the insurmountable price it appears to be now.

Imagine a future where $144,000 is roughly the cost of an average used car or truck and that figure won't seem quite as intimidating.

Before anyone scoffs at that notion, just remember that many years ago people would've thought you were crazy if you'd suggested that milk would ever become $5/gallon.

Best
Doc

Or cheap hamburger over $10 a pound.

 

[Southside]

Or cheap hamburger over $10 a pound.

Yep, getting crazy out there.

 

[shane]

…Imagine that in 1924, your great grandfathers were concerned about their family's future and decided to bury some money. If, in 1924 your paternal great grandfather had buried a $20 bill in a mason jar - and $20 was a considerable sum of money in 1924 - and your maternal great grandfather had buried a $20 Gold piece and if, in 2024 you dug both up, what do you think they'd be worth?…

I use same example with any that’ll listen.

Also, I share that I remember exactly what I paid in silver coinage for my first case of beer, first pack of cigs and first gallon of gas, respectively $4.05, 35 cents and less than 35 cents. Then I give them current silver value of those quarters and dimes, reminding them none of those consumable commodities are any better today that they should cost so much more, but rather that your $ is worth so much less now that it’s detached from a PM basis.

Panic Early, Beat the Rush!
- Shane

 

[Southside]

I use same example with any that’ll listen.

Also, I share that I remember exactly what I paid in silver coinage for my first case of beer, first pack of cigs and first gallon of gas, respectively $4.05, 35 cents and less than 35 cents. Then I give them current silver value of those quarters and dimes, reminding them none of those consumable commodities are any better today that they should cost so much more, but rather that your $ is worth so much less now that it’s detached from a PM basis.

Panic Early, Beat the Rush!
- Shane

I look at it roughly the same way.
When I was 4(last circ. silver currency) gas was 24.9/gal, cheap stuff.

Gas is cheap now. Guess is, in comparison to silver, it is going to get MUCH cheaper!

 

[AuEagle]

Commin' back up.
Gold $2624.00 Up $15.00
Silver $30.91 Up .37

Homepage | GoldSeek

goldseek.com

 

[Southside]

Commin' back up.
Gold $2624.00 Up $15.00
Silver $30.91 Up .37

Homepage | GoldSeek

goldseek.com

I haven't looked in a few days. Did they get it below $2,600?
Maybe the printing press is broken. Or the PPT went on vacation.

 

[Secamp32]

There are plenty of places online that you can sell to better than a pawn shop. Costco is out of ASE and maples but is selling Buffalo rounds.

 

[AuEagle]

I haven't looked in a few days. Did they get it below $2,600?
Maybe the printing press is broken. Or the PPT went on vacation.

No, about 2606.00 was the low as I recall.

 

[AuEagle]

Problem with that price is finding a buyer to cash out. I suspect most coin and pawn shops aren’t capitalized to buy at that price.

There are many buyers out there. LCS's, private buyers, find a coin show & make contacts.

 

[Southside]

There are many buyers out there. LCS's, private buyers, find a coin show & make contacts.

Most LCS's have a "Money Guy" behind them so they DON'T miss out on deals.
I am sure my LCS could do a 7 figure buy.

 

[BadMedicine]

Problem with that price is finding a buyer to cash out. I suspect most coin and pawn shops aren’t capitalized to buy at that price.

You've got a fundamental misunderstanding of how the PM's PRESERVE the wealth.

If you woke up tomorrow and silver was $1MILLION an ounce, how many ounces would you sell? The next day it might be $2MILLION or $10 MILLION.... so every ounce you sold before you NEEDED the commodity you were going to buy with it (food, rent, gas) would have LOST value overnight in spending power, yet GROWN if kept in Silver.

So, if you have a big pile, it keep appreciating while you barter/sell of little amounts for what you need. If an ounce of silver went to $1MILLION over night, -EVERYTHING ELSE PRICED IN DOLLARS WOULD RISE IN COST BY THE SAME AMOUNT..

So "cashing out"....EVER, (Except to use as leverage on a better/faster growing asset... like selling $1M in silver to buy 2M worth of real estate- and those deals do occur) is to convert your savings from a strong and stable currency, to a week and weakening one. You NEVER want to cash out of your SAFEST INSURANCE AGAINST INFLATION.