CORP/BIZ Silver and Gold...The General Precious Metals Thread
- Thread starter Wyominglarry
- Start date
These are the laws in FL about finding gold coins. I'm told anything older than 50 years is already problematic. Might be worth looking at the various detector forums. I admit that I c-n-p'd the following from a detector article. Do your own diligence to make sure if that is your thing. Every state has their own rules. Had a friend that was panning for gold and it was confiscated because he was panning on someone's lease.
Laws, Leases, and Legal Lines in the Sand
Look, the last thing you want is to dig up a gold coin and hand it straight over to the feds. So let’s make this clear:
You CAN:
You CANNOT:
Anything 50+ years old is technically a state-protected artifact. You can report it, but if you’re just pulling a few crusty coppers or modern jewelry, you’re usually in the clear.
Do your homework. Get maps of salvage lease boundaries. Florida’s Division of Historical Resources and local county websites have what you need.
Laws, Leases, and Legal Lines in the Sand
Look, the last thing you want is to dig up a gold coin and hand it straight over to the feds. So let’s make this clear:
You CAN:
- Detect above the mean high tide line (that’s where the wet and dry sand meet) on public beaches.
- Keep modern coins and small non-historical artifacts you dig above that line.
- Detect the beaches listed above, they are public access and legal to hunt on the dry sand.
You CANNOT:
- Detect in the water unless you’re part of a state-licensed salvage operation.
- Hunt inside lease zones — specific offshore wreck sites that are under exclusive contract to companies like Mel Fisher’s Treasure Salvors or Queens Jewels LLC.
- Disturb turtle nests, dunes, or private properties. [Can turn into a freaking big deal with big fines and even criminal prosecution by the State.]
Anything 50+ years old is technically a state-protected artifact. You can report it, but if you’re just pulling a few crusty coppers or modern jewelry, you’re usually in the clear.
Do your homework. Get maps of salvage lease boundaries. Florida’s Division of Historical Resources and local county websites have what you need.
And for the curious, Florida just made gold and silver legal tender for transactions. That said, this is now causing some serious discussion about regulation and reporting of PMs in the State above and beyond what can create reportable events at the federal level.
Always be prepared for the government to give with one hand and take with the other.
And just because something is legal tender doesn't mean vendors are required to accept it. All those cashless businesses? Yeah, they're legal. Will banks accept gold deposits? Not according to the people I've spoken with (hubby was in commercial banking for 17 years and we do a lot of business with a lot of banks due to our industry). Will municipalities accept PMs for payment of taxes, fines, etc.? That's also up for debate.
Always be prepared for the government to give with one hand and take with the other.
And just because something is legal tender doesn't mean vendors are required to accept it. All those cashless businesses? Yeah, they're legal. Will banks accept gold deposits? Not according to the people I've spoken with (hubby was in commercial banking for 17 years and we do a lot of business with a lot of banks due to our industry). Will municipalities accept PMs for payment of taxes, fines, etc.? That's also up for debate.
Swampdweller
Veteran Member
Or a Garrett carrot.
Doc1
Has No Life - Lives on TB
Precious metals have long presented a quandary for the bankers...and no, I'm not talking about the Rothschild/central banks/Jewish conspiracy/secret society stuff. For the purposes of this discussion I'm talking about the bank officer in your local branch. Charlie, or Shirley or Bob.
Very few of those people have any background in precious metals and almost certainly have no education in them. On a very basic level, few of them really grasp the metal's historical role as money and quite a few of them hold a vague - but never fully understood - hostility towards them. This is largely understandable because their stock in trade is fiat money and most people aren't going to feel amenable towards something that could threaten their livelihood.
I have had several (cordial and friendly) discussions with my local bankers about the metals. In some cases, I've shown them three different gold coins: A modern American Gold Eagle with a face value of $50, an early 20th Century American $20 Gold piece and a South African Gold Krugerrand, all of which contain one troy ounce of Gold (or nearly so in the case of the US $20 Gold piece).
I've asked them what they would do if I went to one of their tellers and tried to deposit any of the coins (which of course I would never do). There is often confusion, but after considering the equation they usually said that they'd accept the US coins at face value and no one knew what to do with the Krugerrand (except to not accept it).
Banks, at least at the regular person, retail level, don't like complications and I suspect that initially they wouldn't want to deal with tellers having to learn to authenticate precious metal coins. At a step above that level you get into the realm of private banking where more complications are the rule.
Without spending thousands of dollars for gold coins, you can duplicate my exercise by showing a friend (or your local bank officer) a genuine old US Silver Dollar, a circulating Eisenhower Dollar, and a Susan B. Anthony Dollar and asking them what they are worth and why.
I don't think US banks are going to start accepting precious metal coins for deposit, but I can see at least some of them in future possibly opening a side office for precious metals trade.
Best
Doc
West
Senior
The small time local private bankers in my AO. Will give me a loan on my gold. And use it as collateral. But I would get a much better deal at my LCS.
There best deal was around 80% of spot plus interest, and they wouldn't guarantee my original gold back, after I paid the loan back.
Also I had to ask the president or vise president of the banks. As Doc1 says, the tellers or big banks play dumb.
There best deal was around 80% of spot plus interest, and they wouldn't guarantee my original gold back, after I paid the loan back.
Also I had to ask the president or vise president of the banks. As Doc1 says, the tellers or big banks play dumb.
And there will be restrictions from what I’m now hearing limiting what can be used as legal tender. US coins only. Must prove a certain purity though they haven’t specified how yet. Each PM transaction will be separately reportable. This is what I’ve heard thus far.
Banks are now run by their federal back office. The branch manager is now nothing but a glorified teller. The bank president isn’t much better.
Southside
Has No Timebombs, Lives on Life
I have also gotten good deals regarding loans at the LCS. That said, right now, there are none of those, as there is NO LIQUIDITY.
All the coin shops are working counter to pay bills. If they sell, or someone pays, they can buy.
It's a crazy world out there.
Southside
Has No Timebombs, Lives on Life
Oh that is SO TRUE!
There’s a trend been developing
here, for those with eyes to see…
According to AI synopsis…
Yes, as of July 1, 2025, physical gold is officially classified as a Tier 1 high-quality liquid asset (HQLA) under Basel III banking reforms. This enables banks to count physically held gold at 100% of its market value toward their core liquidity reserves, placing it on par with cash and top-rated government bonds.
Additionally, from Central Banks, another
indicator of where things are likely headed…
And, finally, via AI again, we’ve got the top investment houses calling for cutting bond
exposure by as much as 1/2 and replacing
with gold…
Major investment houses and analysts are increasingly advising a strategic shift to reduce bond exposure in favor of gold, driven by concerns over U.S. debt, persistent inflation, and the breakdown of traditional 60/40 portfolio correlations. Gold is being repositioned not just as a "doomsday" hedge, but as a superior, high-performing asset for long-term portfolio diversification.
Key Drivers for the Shift
Inflation & Debt Concerns: With U.S. debt levels rising, gold is being viewed as a more reliable long-term store of value than bonds.
Performance Comparison: Gold has outperformed bonds in recent years, with some analysts noting that gold has, in some cases, provided better risk-adjusted returns.
Central Bank Buying: Major financial institutions are noticing increased, sustained buying of gold by global central banks, further strengthening the case for a higher gold allocation.
Declining Bond Utility: The traditional role of bonds as a stable, inversely-correlated hedge against falling stock prices has weakened.
Major Firm Perspectives & Forecasts
Goldman Sachs: Recently upgraded its 2026 gold forecast to $4,900 an ounce.
Bank of America: Hiked its 2026 forecast for gold to $5,000, emphasizing its role as a safer, long-term alternative to U.S. Treasuries due to sovereign debt concerns.
Societe Generale: Indicated in a research note that gold's ascent to $5,000 seems "increasingly inevitable".
J.P. Morgan: Analysts remain bullish on gold, with some projections suggesting it could reach $6,300 by the end of 2026.
Royal London Asset Management (RLAM): Expressed a preference for gold over bonds, highlighting its superior returns (up 49.5%) compared to the near-zero returns of bonds in recent, high-rate environments.
New Portfolio Strategy: "60-20-20"
The traditional 60% stocks / 40% bonds portfolio is evolving into a "60-20-20" structure (60% stocks, 20% bonds, 20% gold/alternatives). This strategy seeks to maintain growth while adding the protection of gold, which has shown a lower correlation to stocks than bonds.
Anyways, some smart money makers above
there taking note of gold increasingly moving
front & center, probably be prudent we, too,
stay atop these ever shifting preferences.
Panic Early, Beat the Rush!
- Shane
here, for those with eyes to see…
According to AI synopsis…
Yes, as of July 1, 2025, physical gold is officially classified as a Tier 1 high-quality liquid asset (HQLA) under Basel III banking reforms. This enables banks to count physically held gold at 100% of its market value toward their core liquidity reserves, placing it on par with cash and top-rated government bonds.
Additionally, from Central Banks, another
indicator of where things are likely headed…
And, finally, via AI again, we’ve got the top investment houses calling for cutting bond
exposure by as much as 1/2 and replacing
with gold…
Major investment houses and analysts are increasingly advising a strategic shift to reduce bond exposure in favor of gold, driven by concerns over U.S. debt, persistent inflation, and the breakdown of traditional 60/40 portfolio correlations. Gold is being repositioned not just as a "doomsday" hedge, but as a superior, high-performing asset for long-term portfolio diversification.
Key Drivers for the Shift
Inflation & Debt Concerns: With U.S. debt levels rising, gold is being viewed as a more reliable long-term store of value than bonds.
Performance Comparison: Gold has outperformed bonds in recent years, with some analysts noting that gold has, in some cases, provided better risk-adjusted returns.
Central Bank Buying: Major financial institutions are noticing increased, sustained buying of gold by global central banks, further strengthening the case for a higher gold allocation.
Declining Bond Utility: The traditional role of bonds as a stable, inversely-correlated hedge against falling stock prices has weakened.
Major Firm Perspectives & Forecasts
Goldman Sachs: Recently upgraded its 2026 gold forecast to $4,900 an ounce.
Bank of America: Hiked its 2026 forecast for gold to $5,000, emphasizing its role as a safer, long-term alternative to U.S. Treasuries due to sovereign debt concerns.
Societe Generale: Indicated in a research note that gold's ascent to $5,000 seems "increasingly inevitable".
J.P. Morgan: Analysts remain bullish on gold, with some projections suggesting it could reach $6,300 by the end of 2026.
Royal London Asset Management (RLAM): Expressed a preference for gold over bonds, highlighting its superior returns (up 49.5%) compared to the near-zero returns of bonds in recent, high-rate environments.
New Portfolio Strategy: "60-20-20"
The traditional 60% stocks / 40% bonds portfolio is evolving into a "60-20-20" structure (60% stocks, 20% bonds, 20% gold/alternatives). This strategy seeks to maintain growth while adding the protection of gold, which has shown a lower correlation to stocks than bonds.
Anyways, some smart money makers above
there taking note of gold increasingly moving
front & center, probably be prudent we, too,
stay atop these ever shifting preferences.
Panic Early, Beat the Rush!
- Shane
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Doc1
Has No Life - Lives on TB
Shane, all of that is true. As I posted recently, we tiny retail buyers can't expect to have any effect on the PM markets, but we can get guidance from what the governments and central banks are doing (among other institutions).
The article you posted is some weeks old but it's instructive to note that the MSM basically ignored it. With the US national media, you can often learn more by what they ignore than from what they produce.
Best
Doc
The article you posted is some weeks old but it's instructive to note that the MSM basically ignored it. With the US national media, you can often learn more by what they ignore than from what they produce.
Best
Doc
No illusions there, it’s like a hurricane coming, best you can do is hunker down or get out & away beforehand.
I’m reminded, too, that every time throughout history that there’s been a big financial and/or monetary reset 90% or more are blindsided and on the wrong side of it and suffer greatly for it, also in hindsight usually seen only later needlessly, too, if only they’d of known what was coming where they could have better weathered it.
Lots of status quo assumptions likely fixing to get upended this year, IMO, sure won’t be boring!
Panic Early, Beat the Rush!
- Shane
West
Senior
I'm stacking things like this now....
Gold Silver Platinum Tester Kits for Accurate Testing
Reliable gold silver platinum tester kits for precise metal purity testing. Easy-to-use kits to verify your precious metals confidently.
www.goldandsilvertesting.com
And a small smelter, books on coins etc..
I'm going to be a 10%er.
This has passed so it needs some update on the Florida State Senate's site but here you go. A little more in-depth on PMs being legal tender in FL.
Gold Coin and Silver Coin as Legal Tender
Subject to ratification of required rules by the Legislature, effective July 1, 2026, the bill recognizes gold coin and silver coin as legal tender for payment of debts.
Gold coin and silver coin are defined as the solid, pure form of gold or silver in various physical forms. The gold coin and silver coin must be imprinted, stamped, or otherwise marked with the coin’s weight and purity and may be imprinted, stamped, or otherwise marked with only the name or symbol that identifies any refiner or mint of the gold coin or silver coin. The bill provides for statutory construction to clarify the scope of gold coin and silver coin being recognized as legal tender.
The use of gold coin or silver coin for payment is optional.
Governmental entities may recognize gold coin and silver coin as legal tender for payment of taxes, charges, or dues, and may tender such coin for the payment of debts. Any governmental entity choosing to accept or tender gold coin and silver coin may only do so electronically and, unless an exemption applies, must contract with a qualified public depository that can act as a custodian of such coin.
Gold coin and silver coin recognized as legal tender are exempt from sales tax.
Regulatory Requirements
The bill establishes the following regulatory requirements related to the use of gold coin and silver coin as legal tender:
The bill makes the following conforming revisions related to establishing gold coin and silver coin as legal tender:
Effective upon becoming law, the Chief Financial Officer (CFO) and the Financial Services Commission (FSC) must adopt rules to implement the bill. The Department of Financial Services and the OFR must submit a report to the Legislature containing the adopted rules, additional statutory recommendations, and possible unintended consequences and provide such report and rules to the Legislature by November 1, 2025. The rules adopted by the CFO and FSC must be ratified by the Legislature before becoming effective.
The bill does not take effect July 1, 2026, unless reenacted by the Legislature, which is done to ensure that required rules have been ratified and this new system of legal tender is properly implemented before taking effect.
If approved by the Governor, or allowed to become law without the Governor’s signature, except as otherwise expressly provided, these provisions take effect upon becoming law.
Gold Coin and Silver Coin as Legal Tender
Subject to ratification of required rules by the Legislature, effective July 1, 2026, the bill recognizes gold coin and silver coin as legal tender for payment of debts.
Gold coin and silver coin are defined as the solid, pure form of gold or silver in various physical forms. The gold coin and silver coin must be imprinted, stamped, or otherwise marked with the coin’s weight and purity and may be imprinted, stamped, or otherwise marked with only the name or symbol that identifies any refiner or mint of the gold coin or silver coin. The bill provides for statutory construction to clarify the scope of gold coin and silver coin being recognized as legal tender.
The use of gold coin or silver coin for payment is optional.
Governmental entities may recognize gold coin and silver coin as legal tender for payment of taxes, charges, or dues, and may tender such coin for the payment of debts. Any governmental entity choosing to accept or tender gold coin and silver coin may only do so electronically and, unless an exemption applies, must contract with a qualified public depository that can act as a custodian of such coin.
Gold coin and silver coin recognized as legal tender are exempt from sales tax.
Regulatory Requirements
The bill establishes the following regulatory requirements related to the use of gold coin and silver coin as legal tender:
- Financial institutions and money services businesses that effectuate transactions or offer products or services relating to gold coin or silver coin must meet requirements regarding privately insuring deposits, maintaining separate accounts, contracting with a licensed custodian of gold coin or silver coin (custodian), purchasing gold coin or silver coin from an accredited refiner or wholesaler, recordkeeping, and providing consumer disclosures.
- Financial institutions and money services businesses are not required to offer products or services relating to gold coin and silver coin and financial institutions do not incur liability for refusing to offer services related to such coin.
- A financial institution which acts as a custodian is exempt from obtaining a separate license as a custodian pursuant to s. 560.204(1), F.S.
- The bill establishes a regulatory framework for custodians that hold or facilitate transactions of gold coin or silver coin that is recognized as legal tender. Custodians must be licensed as money transmitters. The bill requires the Office of Financial Regulation (OFR) to examine a custodian before issuing a license and at least annually thereafter. A custodian must meet requirements regarding privately insuring deposits, security, recordkeeping, and maintaining separate ledger accounts. Custodians with direct contractual relationships with owners of gold coin or silver coin must comply with additional requirements relating to disclosures, account statements, return of the gold coin or silver coin, requests for audit reports, and confidentiality of records. The bill provides that a custodian is a fiduciary to its customers and provides that the transmission of gold coin or silver coin by a custodian is subject to the OFR’s jurisdiction.
The bill makes the following conforming revisions related to establishing gold coin and silver coin as legal tender:
- The Florida Control of Money Laundering and Terrorist Financing in Financial Institutions Act is amended to apply to gold coin or silver coin that is recognized as legal tender.
- The Uniform Commercial Code is clarified to specify that a person may not be compelled to tender payment in gold coin or silver coin.
- The Probate Code is clarified to provide that gold coin or silver coin recognized as legal tender is not tangible personal property and to provide for applicability of the provision. [NOTE: I'm not yet sure how this is going to affect PMs in probate court.]
- The bill directs the Division of Law Revision to rename ch. 560, part II, F.S., and to incorporate the new sections created in the bill within certain parts of ch. 560, F.S.
Effective upon becoming law, the Chief Financial Officer (CFO) and the Financial Services Commission (FSC) must adopt rules to implement the bill. The Department of Financial Services and the OFR must submit a report to the Legislature containing the adopted rules, additional statutory recommendations, and possible unintended consequences and provide such report and rules to the Legislature by November 1, 2025. The rules adopted by the CFO and FSC must be ratified by the Legislature before becoming effective.
The bill does not take effect July 1, 2026, unless reenacted by the Legislature, which is done to ensure that required rules have been ratified and this new system of legal tender is properly implemented before taking effect.
If approved by the Governor, or allowed to become law without the Governor’s signature, except as otherwise expressly provided, these provisions take effect upon becoming law.
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In reference to the above where it refers to PMs not being "tangible property" with intrinsic value yada, yada, yada ... what it is going to mean for probate could be a dramatic increase in value of an estate at transfer.
Instead of someone handing off gold coins as "collector item" with simple intrinsic value, now it looks like it might dramatically increase taxes and probate issues if the estate isn't planned correctly.
Instead of someone handing off gold coins as "collector item" with simple intrinsic value, now it looks like it might dramatically increase taxes and probate issues if the estate isn't planned correctly.
Got the following confirmed with regard to government entities accepting gold and silver as legal tender in the state of Florida ...
QUOTE: Governmental entities may recognize gold coin and silver coin as legal tender for payment of taxes, charges, or dues, and may tender such coin for the payment of debts. Any governmental entity choosing to accept or tender gold coin and silver coin may only do so electronically and, unless an exemption applies, must contract with a qualified public depository that can act as a custodian of such coin.
While some municipal offices can accept gold and silver, it will ONLY BE IN THE FORM OF DIGITAL TRANSFER. Also, municipalities will not be required to take it as a form of payment any more than private vendors are going to be required to accept it.
Another thing ... from the noise being made, DIGITAL transfer from state licensed and approved accounts may be the only way to make payments. You can deposit your approved physical into these accounts but payments go out in digital format. That's going to be a heck of a lot of paperwork that requires close monitoring by all parties involved. I also suspect that, despite the accounts required to be fiduciary (and sales tax free), there will be significant fees attached in some way such as a service fee on the account and a transaction fee on the payment/transfer.
QUOTE: Governmental entities may recognize gold coin and silver coin as legal tender for payment of taxes, charges, or dues, and may tender such coin for the payment of debts. Any governmental entity choosing to accept or tender gold coin and silver coin may only do so electronically and, unless an exemption applies, must contract with a qualified public depository that can act as a custodian of such coin.
While some municipal offices can accept gold and silver, it will ONLY BE IN THE FORM OF DIGITAL TRANSFER. Also, municipalities will not be required to take it as a form of payment any more than private vendors are going to be required to accept it.
Another thing ... from the noise being made, DIGITAL transfer from state licensed and approved accounts may be the only way to make payments. You can deposit your approved physical into these accounts but payments go out in digital format. That's going to be a heck of a lot of paperwork that requires close monitoring by all parties involved. I also suspect that, despite the accounts required to be fiduciary (and sales tax free), there will be significant fees attached in some way such as a service fee on the account and a transaction fee on the payment/transfer.
markshere2
Senior Member
You can count on .GOV coming after what they see as their slice of your estate, hammer and tongs, with the full force of whatever made up rulings that can invent.
Get rid of your valuables and die broke, that's my plan.
We are going with the "Die with Zero" philosophy. Isn't quite what it sounds like. Think of it more like a tax and estate plan.
A pretty good summary of the philosophy can be found at
9 Money Rules from "Die With Zero" by Bill Perkins (Book Summary)
Book summary and top quotes from Die With Zero: Getting All You Can from Your Money and Your Life by Bill Perkins (9 money rules for living before dying)
www.sloww.co
It isn't a perfect plan, but that's why you take it and fit it to your personal needs (and wants).
Knowing how much wealth will be enough to get you to the finish line,We are going with the "Die with Zero" philosophy. Isn't quite what it sounds like. Think of it more like a tax and estate plan.
A pretty good summary of the philosophy can be found at
9 Money Rules from "Die With Zero" by Bill Perkins (Book Summary)
Book summary and top quotes from Die With Zero: Getting All You Can from Your Money and Your Life by Bill Perkins (9 money rules for living before dying)www.sloww.co
It isn't a perfect plan, but that's why you take it and fit it to your personal needs (and wants).
so you can better relax, work less, and enjoy life more, is the challenge.
Also, for some, their 'work' may well be their passion, too, their reason
for eagerly getting up every morning, thus not something to necessarily,
or mandatorily, want to shut down and retire from.
Finding for oneself where your own definition of abundant happiness, joy
and contentment springs from, is likely the key to then next determine
how much $ would be minimally required both monthly and/or annually
to achieve it.
It's probably less about acquiring more material goods and more about
just not having to worry about financially covering the basics.
YMMV
Panic Early, Beat the Rush!
- Shane
And what you do with the funds you are the steward of, including using them to help other people grow.
Blacknarwhal
Three-Time Trump Voter
I'm stacking things like this now....
Gold Silver Platinum Tester Kits for Accurate Testing
Reliable gold silver platinum tester kits for precise metal purity testing. Easy-to-use kits to verify your precious metals confidently.
And a small smelter, books on coins etc..
I'm going to be a 10%er.
A small smelter. You know, I keep seeing "scrap gold" on ebay, and wonder how much of those little bars are REAL gold.
von Koehler
Has No Life - Lives on TB
Beware of anything coming out of China.
Doc1
Has No Life - Lives on TB
Correct. As I have noted several times in the past, eBay is filled with obvious counterfeit Silver Eagles and Silver Dollars. There are a few reputable coin dealers still selling on eBay, but there are countless shady sellers hawking counterfeit coins.
How do I know from a distance that these coins are counterfeit? Easy. No one is going to be selling US Silver Eagles or (old) US Silver Dollars for a fraction of melt value. Currently, Silver Eagles are going for around eight to ten dollars more than spot. Same thing with Silver Dollars but - depending on the coin - often at a lower premium.
Other hints are sellers with very low feedback numbers and - obviously - anyone selling from China. The Chinese sellers have been getting smarter, using sellers with US addresses, but again, unrealistic low prices will tell you everything you need to know.
Remember TANSTAAFL: There Ain't No Such Thing As A Free Lunch.
Best
Doc
Mark D
Now running for Emperor.
Entities are selling PM's to cover losses elsewhere.
FWIW, on the Daily, we are in pretty comfortable Buy territory now - probably could go a little deeper on the MACD and RSI.
The weekly looks like we have a little farther to fall - probably wise to save some $$$ for that opportunity.
This morning's Gap down was a really nice opportunity. Here's hoping for that final plunge into Capitulation over the next week or two. =-)
Hope you sold at the top a while back.
Do your own Due Diligence.
Enjoy.
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phloydius
Veteran Member
Directed at the twitter user, not the TB2k poster:
This makes all the sense in the world and it is the constant that happens almost every time.
When things crash, and you have to cover losses (mostly from leverage) to keep from losing even more -- you sell what you can not what you want.
West
Senior
But you said...you would sell me all your silver at $50 when it drops to $50 a ounce. Remember...
Jk.
Hey did anyone see the second post in this thread? I know I was way to conservative about the date. 2029! What the hell was I thinking!
Southside
Has No Timebombs, Lives on Life
Even if spot makes it to $50, there will be none available at that price.
Maybe $8 over, maybe $15. But it will be a significant # over.
I lied.
Maybe $8 over, maybe $15. But it will be a significant # over.
Yea, about that.......But you said...you would sell me all your silver at $50 when it drops to $50 a ounce. Remember...
Jk.
Hey did anyone see the second post in this thread? I know I was way to conservative about the date. 2029! What the hell was I thinking!
I lied.
West
Senior
APMEX is selling right now over $18 I think.
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Yeah, we know a couple of people that are freaking out. They bought high and really don’t have the time built into their financials for it to take long to go back up before they lose money they can’t really afford to. They were counting on Florida’s new ”legal tender” law to make some money on the spread but:
1 - can only use digital by law, so there’s a fee and loss there
2 - while there is no sales tax on use, there could be capital gains issues
3 - it looks like there will also be a transaction fee.
West
Senior
It was my Grandma for me, but on my father's side, so he too was a huge influence.
Dad invested heavily in 1980, not the top, but close to it. Then sold to break even. Dad also caught gold fever, and we lived on mining claims in two summers. Again he broke even.
A. Its best to buy every month or two small amounts.
B. Its cheaper to buy it, than to mine it. Especially if its less labor. So get a job where your not living off of beans, soup, sardines, crackers, wild fish and berries while literally working arse off to move several yards of dirt/gravel a day.
Doc1
Has No Life - Lives on TB
There is nothing to worry about in the longer term. There are massive and conflicting forces wrestling in the precious metals arena right now. Asian spot prices are significantly higher than Western spot prices now.
For we metal stackers in the US, there are only two critical stats to watch, which will give you a roadmap to the future:
1.) Is the US going to end deficit spending and rein in inflation? If it is, the Dollar will grow stronger and the metals prices will decrease. If it isn't, metals prices must rise going forward. Which direction do you think the US will adopt?
2.) Will Silver production world wide produce surpluses or deficits? Silver production has been in deficit for several years and the world's consumption needs have been partially met with above ground stocks. Countless sources are stating that these above ground stocks are nearing exhaustion and new mine production isn't adequate for world needs.
There are endless short-term market decisions and manipulations which cause metals prices to ebb and flow, but the two issues I listed above are the ones which will determine the long-term direction of metals prices.
Stackers need to show more patience and remember that it wasn't too long ago that we were waiting on pins and needles for Silver to broach $20 and for Gold to break $3000. Remember that? People who got into Silver at around $20 and into Gold at below $3000 should be grateful now. Those who got into Gold at around $5500 and those who got into Silver at $120 a couple of months ago must understand that both are destined to go higher. Wait, have patience and don't sell your metal in a panic.
Best
Doc
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