CORP/BIZ Silver and Gold...The General Precious Metals Thread

bassaholic said:
Support areas are $74, $70, $64, $61, $57 (pretty decent spot here). $53, $50.

These are possible bounce points if it's going to bottom.

It's my theory though that if we break and hold below $70 we go straight to 50's.
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bassaholic said:
Against popular opinion here I'm sure...

Stop giving the AI Asian social media channels traffic.

So many exploded in the past 2-3 months. I believe it's part of the pump and dump from them.

Edited to add: My trader folks saying we see $50's.

Info for those looking to buy or sell.
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Took awhile as they held it firm in 70-80 range but here we are.

That $57 spot holding for now (I was off by $1.38 as $55.62 was support there).

If this doesn't hold that $53, $50 comes into play as support.
 
If silver breaks and hold below $50'ish, we have some support (not strong) between $45-48'ish.

If that breaks, straight down to $37-38.
 
The last run up had a bit of FOMO and the metals climbed vertically. Nothing vertical goes forever and it tends to come down pretty quickly as well. Liquidity has been sucked up with margin calls, all the IPO’s and the latest shiny baubles to chase.

It isn’t just paper gold and silver that has been slammed. The commodity markets as a whole have felt pressure in anticipation of demand destruction that the dust up in the gulf is engendering. Oil has pulled back a lot more than one might have thought. The S&P has taken heavy hits and so has crypto as a lot of $ in that and metals has left to chase the IPO’s.

All this is paper and greed driven and not on fundamentals. All one needs to know is that the macro outlook of metal has not changed one iota. Central banks continued to stack physical gold and demand from the data centers, high tech and industrial for physical silver remains unabated as well as various countries including the U.S. now considering it a strategical metal.

Know what you know, believe what you believe and don’t let the herd shake you from what you hold. As most of us realize it is an ounces game and not a (very) short term dollar game.
 
I believe the new low in silver will be around $45 to $55 a ounce.

I'll put my money where my mouth is and will buy a few ASEs when I see them selling under or at $55 including premium.

Will also buy more major miners, as their prices have been dropping in unison with the PMs spot prices.

Best to all, and good luck.
 
I look at the averages.

Copper is now trading, regularly, at two bucks, plus, over just two years ago.

It fluctuates by about fifty cents, month to month, week to week, but the new norm is crazy high compared to not so long ago.

Buy/sell accordingly.

Silver is in exact same boat.

Like West keeps emphasizing, only an internet troll would recommend selling the dip.

:popcorn3:
 
Hfcomms said:
The last run up had a bit of FOMO and the metals climbed vertically. Nothing vertical goes forever and it tends to come down pretty quickly as well. Liquidity has been sucked up with margin calls, all the IPO’s and the latest shiny baubles to chase.

It isn’t just paper gold and silver that has been slammed. The commodity markets as a whole have felt pressure in anticipation of demand destruction that the dust up in the gulf is engendering. Oil has pulled back a lot more than one might have thought. The S&P has taken heavy hits and so has crypto as a lot of $ in that and metals has left to chase the IPO’s.

All this is paper and greed driven and not on fundamentals. All one needs to know is that the macro outlook of metal has not changed one iota. Central banks continued to stack physical gold and demand from the data centers, high tech and industrial for physical silver remains unabated as well as various countries including the U.S. now considering it a strategical metal.

Know what you know, believe what you believe and don’t let the herd shake you from what you hold. As most of us realize it is an ounces game and not a (very) short term dollar game.
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Educational opportunity:
The last run up had a bit of FOMO and the metals climbed vertically.

What is FOMO?
 
West said:
I believe the new low in silver will be around $45 to $55 a ounce.

I'll put my money where my mouth is and will buy a few ASEs when I see them selling under or at $55 including premium.

Will also buy more major miners, as their prices have been dropping in unison with the PMs spot prices.

Best to all, and good luck.
Click to expand...

It's good old fashioned human nature at work, West (and I know you understand that). Most people are excited and want to buy the metals near or at their top. No one wants to buy them when they appear weak and are at or near their bottoms.

Speaking of buying the dips, a dealer friend of mine just had an unfortunate experience. He called me asking if I wanted to buy forty Morgan Silver Dollars. I said "sure, if the price is right." Then he told me that they were all "S" mint marks, but different dates. That struck me as odd so, after we agreed on a price I said, "OK...as long as you agree to make it right if I find any counterfeits." He agreed to this (as I knew he would, because he's a friend and a straight shooter).

The next day, Friday, I stopped by his shop and picked up all of the Morgans and gave the man his money. The coins didn't look quite right to me, but they were all in difficult-to-open hard plastic capsules and I couldn't look at them in any detail across his counter. My friend said that he had taken a couple out of their plastic capsules and weighed them and their weights were in spec. That's a good sign when authenticating coins, but it's only one of several tests that you must perform on any given example. In addition to weight, you need to measure the diameter and thickness. There are many other more sophisticated acid and electronic tests you can perform, but simple weight, diameter and thickness tests will catch 95% of counterfeits. By now I'm sure you all know where this is leading...

I randomly selected five Morgans out of the lot of forty coins and began by finding a very thin knife to pry the plastic capsules apart. Then I weighed them. Check! All good. Then I measured their diameter with my electronic calipers. Check! All good. Then I measured their thickness with my micrometer. Chec...er, not so good. Each coin was many thousandths of an inch too thick. Later my friend asked me to drill into one of the coins, which I did. Then we saw the brass-colored base metal beneath the silver exterior.

He returned my money, but unfortunately he was stuck with a very expensive mistake. You can't be too careful these days.

Best
Doc
 
Doc1 said:
It's good old fashioned human nature at work, West (and I know you understand that). Most people are excited and want to buy the metals near or at their top. No one wants to buy them when they appear weak and are at or near their bottoms.

Speaking of buying the dips, a dealer friend of mine just had an unfortunate experience. He called me asking if I wanted to buy forty Morgan Silver Dollars. I said "sure, if the price is right." Then he told me that they were all "S" mint marks, but different dates. That struck me as odd so, after we agreed on a price I said, "OK...as long as you agree to make it right if I find any counterfeits." He agreed to this (as I knew he would, because he's a friend and a straight shooter).

The next day, Friday, I stopped by his shop and picked up all of the Morgans and gave the man his money. The coins didn't look quite right to me, but they were all in difficult-to-open hard plastic capsules and I couldn't look at them in any detail across his counter. My friend said that he had taken a couple out of their plastic capsules and weighed them and their weights were in spec. That's a good sign when authenticating coins, but it's only one of several tests that you must perform on any given example. In addition to weight, you need to measure the diameter and thickness. There are many other more sophisticated acid and electronic tests you can perform, but simple weight, diameter and thickness tests will catch 95% of counterfeits. By now I'm sure you all know where this is leading...

I randomly selected five Morgans out of the lot of forty coins and began by finding a very thin knife to pry the plastic capsules apart. Then I weighed them. Check! All good. Then I measured their diameter with my electronic calipers. Check! All good. Then I measured their thickness with my micrometer. Chec...er, not so good. Each coin was many thousandths of an inch too thick. Later my friend asked me to drill into one of the coins, which I did. Then we saw the brass-colored base metal beneath the silver exterior.

He returned my money, but unfortunately he was stuck with a very expensive mistake. You can't be too careful these days.

Best
Doc
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I missed this kind of knowledge in our silver threads
 
Doc1 said:
It's good old fashioned human nature at work, West (and I know you understand that). Most people are excited and want to buy the metals near or at their top. No one wants to buy them when they appear weak and are at or near their bottoms.

Speaking of buying the dips, a dealer friend of mine just had an unfortunate experience. He called me asking if I wanted to buy forty Morgan Silver Dollars. I said "sure, if the price is right." Then he told me that they were all "S" mint marks, but different dates. That struck me as odd so, after we agreed on a price I said, "OK...as long as you agree to make it right if I find any counterfeits." He agreed to this (as I knew he would, because he's a friend and a straight shooter).

The next day, Friday, I stopped by his shop and picked up all of the Morgans and gave the man his money. The coins didn't look quite right to me, but they were all in difficult-to-open hard plastic capsules and I couldn't look at them in any detail across his counter. My friend said that he had taken a couple out of their plastic capsules and weighed them and their weights were in spec. That's a good sign when authenticating coins, but it's only one of several tests that you must perform on any given example. In addition to weight, you need to measure the diameter and thickness. There are many other more sophisticated acid and electronic tests you can perform, but simple weight, diameter and thickness tests will catch 95% of counterfeits. By now I'm sure you all know where this is leading...

I randomly selected five Morgans out of the lot of forty coins and began by finding a very thin knife to pry the plastic capsules apart. Then I weighed them. Check! All good. Then I measured their diameter with my electronic calipers. Check! All good. Then I measured their thickness with my micrometer. Chec...er, not so good. Each coin was many thousandths of an inch too thick. Later my friend asked me to drill into one of the coins, which I did. Then we saw the brass-colored base metal beneath the silver exterior.

He returned my money, but unfortunately he was stuck with a very expensive mistake. You can't be too careful these days.

Best
Doc
Click to expand...
thanks for sharing!
 
Doc1 said:
It's good old fashioned human nature at work, West (and I know you understand that). Most people are excited and want to buy the metals near or at their top. No one wants to buy them when they appear weak and are at or near their bottoms.

Speaking of buying the dips, a dealer friend of mine just had an unfortunate experience. He called me asking if I wanted to buy forty Morgan Silver Dollars. I said "sure, if the price is right." Then he told me that they were all "S" mint marks, but different dates. That struck me as odd so, after we agreed on a price I said, "OK...as long as you agree to make it right if I find any counterfeits." He agreed to this (as I knew he would, because he's a friend and a straight shooter).

The next day, Friday, I stopped by his shop and picked up all of the Morgans and gave the man his money. The coins didn't look quite right to me, but they were all in difficult-to-open hard plastic capsules and I couldn't look at them in any detail across his counter. My friend said that he had taken a couple out of their plastic capsules and weighed them and their weights were in spec. That's a good sign when authenticating coins, but it's only one of several tests that you must perform on any given example. In addition to weight, you need to measure the diameter and thickness. There are many other more sophisticated acid and electronic tests you can perform, but simple weight, diameter and thickness tests will catch 95% of counterfeits. By now I'm sure you all know where this is leading...

I randomly selected five Morgans out of the lot of forty coins and began by finding a very thin knife to pry the plastic capsules apart. Then I weighed them. Check! All good. Then I measured their diameter with my electronic calipers. Check! All good. Then I measured their thickness with my micrometer. Chec...er, not so good. Each coin was many thousandths of an inch too thick. Later my friend asked me to drill into one of the coins, which I did. Then we saw the brass-colored base metal beneath the silver exterior.

He returned my money, but unfortunately he was stuck with a very expensive mistake. You can't be too careful these days.

Best
Doc
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Right on as usual. Just add, that pinging the counterfeits with a nail set or alike can also work. Hit it hard enough that it almost punctures the coin.

And a loup. That way if its real it hasn't lost any precious.

:D
 
West said:
Right on as usual. Just add, that pinging the counterfeits with a nail set or alike can also work. Hit it hard enough that it almost punctures the coin.

And a loup. That way if its real it hasn't lost any precious.

:D
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I recently bought a "Pocket Pinger" coin testing device. It works as advertised, but frankly I get better results spinning a Silver coin on a square ceramic tile I keep just for that purpose. Nothing else has the aural "ring" of Silver. I have a couple of 10x loups and other magnifying devices. Over the years and decades I've noticed the Chinese counterfeits getting better and better. Sometimes, even with a 10x loup they're very difficult to detect.

Best
Doc
 
Bogey said:
A Sigma precious metal tester is my dream machine, but my reality and go to is the pocket pinger. 30 bucks and change is cheap peace of mind.
Click to expand...

Another one of my dealer friends has a professional Sigma machine; they're accurate and very easy to use. I think he paid around $2400 for it. If memory serves, their consumer level machine is around $1200. Unfortunately, that's a bit too rich for my blood. Well, actually, I *could* afford it, but I wouldn't get enough use out of it to be worthwhile.

There are other ways to test precious metals that are as accurate, but take more time. As I've explained previously on this thread and others, you can use weight and dimensions to get very accurate results. Additionally, you can use standard acid tests, specific gravity tests and there is the "Pocket PInger" device.

The advantage of the Sigma machine is that it's very quick.

Best
Doc
 
Its different this time.

Errrr..... something is different. I can feel it.

Just musing.

The size of ones stack does matter!

Size matters!

Below the camera is wrong date, IDK how to reset date, but those are last weeks bucks coming in to my feed plot.
IMG_20260623_172006.jpg
 
Doc1 said:
It's good old fashioned human nature at work, West (and I know you understand that). Most people are excited and want to buy the metals near or at their top. No one wants to buy them when they appear weak and are at or near their bottoms.

Speaking of buying the dips, a dealer friend of mine just had an unfortunate experience. He called me asking if I wanted to buy forty Morgan Silver Dollars. I said "sure, if the price is right." Then he told me that they were all "S" mint marks, but different dates. That struck me as odd so, after we agreed on a price I said, "OK...as long as you agree to make it right if I find any counterfeits." He agreed to this (as I knew he would, because he's a friend and a straight shooter).

The next day, Friday, I stopped by his shop and picked up all of the Morgans and gave the man his money. The coins didn't look quite right to me, but they were all in difficult-to-open hard plastic capsules and I couldn't look at them in any detail across his counter. My friend said that he had taken a couple out of their plastic capsules and weighed them and their weights were in spec. That's a good sign when authenticating coins, but it's only one of several tests that you must perform on any given example. In addition to weight, you need to measure the diameter and thickness. There are many other more sophisticated acid and electronic tests you can perform, but simple weight, diameter and thickness tests will catch 95% of counterfeits. By now I'm sure you all know where this is leading...

I randomly selected five Morgans out of the lot of forty coins and began by finding a very thin knife to pry the plastic capsules apart. Then I weighed them. Check! All good. Then I measured their diameter with my electronic calipers. Check! All good. Then I measured their thickness with my micrometer. Chec...er, not so good. Each coin was many thousandths of an inch too thick. Later my friend asked me to drill into one of the coins, which I did. Then we saw the brass-colored base metal beneath the silver exterior.

He returned my money, but unfortunately he was stuck with a very expensive mistake. You can't be too careful these days.

Best
Doc
Click to expand...

This is why I’ve only bought from reputable dealers that test every piece of metal that comes in unless it is mint sealed. I’d buy junk from a coin shop or craigslist but nothing else unless I have a Sigma tester.
 
I would like to have a sigma tester, just haven't yet.
I bought most of mine when it was too cheap to bother doing counterfeits, except for collectible coins.
I did end up with a counterfeit gold 1945 Saudi Arabia 4 Pound coin. I bought it a long time ago & put it away. Dug it up and started investigating it. Turns out that is was a commonly copied coin, to hide gold. Mine, it turns out was one of the better copies, and has 1.053oz of metal @ 94% gold, where it should have been 91.523% fineness. Sometimes, things work out OK.

I am sure I have fakes somewhere, though. It has been a long slog.
 
Samuel Adams said:
I look at the averages.

Copper is now trading, regularly, at two bucks, plus, over just two years ago.

It fluctuates by about fifty cents, month to month, week to week, but the new norm is crazy high compared to not so long ago.

Buy/sell accordingly.

Silver is in exact same boat.

Like West keeps emphasizing, only an internet troll would recommend selling the dip.

:popcorn3:
Click to expand...
Just recycled almost 100 pounds of good clean copper.

Got over $450

Yes copper is on fire! Poor man's gold!
 
Hfcomms said:
Rumors of their demise are premature. Is the government going to keep printing and pay it’s bills with monkey money? That is really all you need to know to discern the long term direction of metals and other commodities.
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Good, I was thinking gold was just getting to old to beable to get back in the saddle....

:D
 
West said:
Just recycled almost 100 pounds of good clean copper.

Got over $450

Yes copper is on fire! Poor man's gold!
Click to expand...

I have to buy some more 10/2 UF for an underground circuit I need to wire. Not looking forward to buying that roll….sticker shock. Copper might not be a precious metal, unless you need it.
 
Hfcomms said:
I have to buy some more 10/2 UF for an underground circuit I need to wire. Not looking forward to buying that roll….sticker shock. Copper might not be a precious metal, unless you need it.
Click to expand...
Years ago. I bought a abandon storage locker for $100. There was almost a ton of 14, 12, and 10 gauge 2+ground and a few half 250' rolls of Uf 10-2 with ground. Plus a bunch of flexible 12-2 metal shield wire.
 
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