Signs of the Gold Apocalypse: M&A and Fund Extinction

Guest Post by Tom Luongo

For bear markets to truly end investor sentiment has to get to a point where they would rather walk on broken glass than buy that asset or asset class.  We’re reaching that point in the precious metals market.

In conjunction with that we also have to see arrogance on the part of short-sellers convinced that all rallies will be sold, keeping a lid on prices.  It doesn’t matter if buyers come in at higher prices or above significant technical support levels, they will push because they become convinced this is a one-way trade.

We see this in the government bond markets as well.  In traderspeak it’s called the [Insert Head of Central Bank Here] Put.  The Greenspan Put begat the Bernanke Put which morphed into the Yellen Put.

Over the past few months we’ve seen sign after sign that the gold and silver markets are nearing the end of their bear markets.  These are signs of extreme distress.  The first I’ve already mentioned, record speculative short positions among futures traders.

Then there was the re-balancing of Vanguard’s $2.3 billion Gold and Precious Metals fund into the Global Capital Cycles Fund, trimming exposure to precious metals to 25% of AUM — Assets Under Management.

And now we’re seeing the M&A (Mergers and Acquisitions) phase of the bear market.  Where companies begin merging to shave costs after having already cut back on production to preserve cash flow.

It was just announced that American Barrick Corp (NYSE:ABX) and RandGold Corp (NASDAQ:GOLD) are merging into one company.  The largest mining company by market cap in the world at around $18 billion.

Primary silver producers like Endeavor Silver (NYSE:EXK) are shuttering high-cost mines in this pricing environment.  Well run companies with low debt and strong balance sheets don’t do mergers like this, they tough it out or go on a hostile raid of assets under-valued by the market.

There is always something that stands in the way of Gold’s breakout.  I’m as frustrated by it as anyone else in the space.  But, the reality is that gold at this point is the retail investor’s hedge against government instability and loss of institutional faith.

I’ve made the point before and I’ll make it again, the last gold bull market was primed to go for two years before it finally began in earnest.  Gold made a low in 1999 but it took until after 9/11 for it to finally move above the important technical levels to force short sellers and heavily-forward-hedged producers like Barrick to lift their hedges and cover.

9/11 kicked off the last one, in my view.  The history on it is clear.  The U.S. government was attacked bodily that day which tore at the world’s view of its primacy.  The response from then FOMC Chair Alan Greenspan was to radically lower interest rates and open the liquidity taps.

That fueled the first leg of the decade-long bull market.  Then when his replacement Bernanke began pulling back and raising rates, he imploded first the marginal commodity markets, resulting in Bear Stearns’ failure and then a housing market collapse as the hot money turned cold and the banking system seized up.

Gold fell from $1033 to $681 during 2008 and the only response from the Fed was “Print, Baby, Print!”

This did not engender confidence. Gold’s second and more explosive wave of its bull market nearly tripled its price in just over two years.

Eventually, the central banks coordinated policy in 2011, the Swiss pegged the Franc to the Euro, Merkel was re-elected and that commitment to stability provided enough cross-market liquidity and confidence to rein in gold.

Because retail demand took off in the wake of the Bush v. Gore debacle and then an attack on U.S. soil for the first time since Pearl Harbor.  It lasted until the central banks finally coordinated action to soothe the worst fears of the financial markets in September 2011.

So, is that happening today?  No.  The rumblings are there.  Brexit, Italeave, the bureaucratic coup against Trump, this idiocy surrounding Kavanaugh’s confirmation, Syria, the end of coordinated QE from western central banks.

All the pieces are in place.  All that’s left is the catalyst.

gold monthly.png

 

But, everyday we see another headline of a major player in the space throwing in the towel is another data point that we are getting closer to that catalyst.

There is an extreme amount of leverage and misallocation of capital thanks to a decade of central bank largesse and destroying price discovery in the most important markets in the world, the sovereign bond markets.

Given that state of affairs when the catalyst occurs — Trump is impeached, Brexit fails, Merkel is overthrown in Germany, a King Leopold moment, or simply the outbreak of hostilities between the U.S. and Russia over Syria — it will be the ride of a lifetime for gold investors.

And an incredibly stressful time to be alive.

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Fleabaggs
Fleabaggs

The time to buy is when the last Bear is visited by the Priest and the Governor in his cell.
If you don’t have any PM’s under the the chicken coop, do it now.
Even if it’s just a 100.00.

Mark
Mark

http://www.sdbullion.com

Solid company, great track record, small purchases friendly.

Harrington Richardson
Harrington Richardson

Precious metals investing is tricky. The market is dominated in extremis by paper trading. 99% (seriously, no hyperbole) of what is called the gold markets is paper contracts and very little gold is ever actually physically delivered. The market is characterized by “raids” where short sellers or a central bank will drop 100,000 paper contracts on the market crashing prices. When you buy an etf like GLD or IAU you have continual shrinkage because you are charged “expenses.” If TSHTF you can only redeem in fiat paper. If you buy a contract for delivery and they don’t feel like delivering they can declare a force majeure (kind of like “an act of God” scenario) and pay you off in fiat. It is just a bizarre rigged game which at the end of the day is done to support fiat paper money over a gold standard. If you want that ultimate monetary insurance only gold can bring, just buy some and lock it in a real safe out of sight and under your control.
In my opinion, mining stocks show some life every ten or twenty years and then give up all their gains. Mining is a shitty business and for the most part uninvestible. There are certainly no AT&T’s of mining that will chug along paying a 6% dividend ad infinitum.

James the Wanderer

There is almost no company, in any industry, that will “chug along paying a 6% dividend ad infinitum”. The existence of business cycles, boom and bust, make it unlikely to begin with; but mindless concepts like “inventory is unproductive capital”, “JIT delivery is more efficient supply-chain management” and so on mean that a single hiccup can demolish a business, there is no slack or supply left in the chain and that any upset, loss or even delay in shipments of supplies mean no production for a while.
When the 2200 A.D. archaeologists probe the ruins to find the cause of the collapse that silenced the world economies, they will ultimately decide it was driven by some kind of alien invasion – something called a “Harvard MBA”.

Shark
Shark

Ah yes, the constant refrain of “the sky is falling” from the gold bugs…I’ve weighed in on this before. It’s like those atrocious “Now is the best time to buy silver” ads on television…as the commodities continue to slip and slide downward. The markets will be good until they aren’t, the precious metals market will be bad until it isn’t…and no one can tell when that will be, despite all the silly crystal ball pseudo-prognosticating. I’ve got a stash of silver eagles that’ll have to do if the feces hits the air circulation device. Is it enough? NO, but then again, what possibly could be? Besides, I have a life to live, and tying up more than a small amount of my money in continually declining assets isn’t much of a strategy. But if you want to listen to Chicken Little for investment advice, good luck.

Augee
Augee

But Jaws, here’s the thing. It’s not an investment, but could prove out to be. It’s more of wealth preservation in a different form than paper.
Mock the bugs if you wish, but know this, too.
Sometime around 1995, it took $400 USD to purchase a 1 oz. gold coin.
A few years later, the TV ads were pushing them again; see, because the spot price dropped to $250.
I balked then, after previously buying one for around $400, mistakenly seeing it as an investment that lost value. I should have backed up the truck, and bought a shitload more, but, that was a missed opportunity.
Harry Rick is correct, in that buying physical and taking delivery of it is the safer bet, than buying ETFs, and the mining stock traders better know their stuff, via due diligence.
Out of country storage of metals in vaults, not banks, if there are concerns about confiscation in one’s home country, similar to what FDR did in the 30’s.
Now, at it’s peak spot price, it took $1900 USD to buy a 1 oz. gold coin. Silver: $40 / oz.
With reversion to the mean, gold spot is running around 1200 and silver at $14 / oz. respectively.
Also due to the naked short selling described by HR above.
(Rumor has it that the short sellers are the big banks like JPM, et. al are doing those paper transaction contracts at the behest of The Fed, because, if confidence in the USD is lost, and metals go ballistic, it’s game over for the banksters, The Fed, and the USD will be threatened as the world’s reserve currency.)
Meanwhile, Russia, China, India and some select in-the-know people in North America are quietly piling up gold and silver reserves as a form of sound money.
Rumor has it that some major players at Goldman Sachs, JPM, etc. are quietly doing the same, but touting gold as a barbous relic publicly, like the sage of Omaha stated.
If the Silk Road establishment keeps making progress, and the U.S. keeps shitting on China and Russia,
you don’t think they’re working on alternative payment systems than using USD as the method of transactional payments?
If, after a world wide blowup of the financial system takes place, and the IMF or the World Bank establishes a new currency for international payments that is created with a gold backing, then He who holds gold will do just fine, perhaps staving off being personally wiped out financially if / when TSHTF.
What’s gonna happen? Who knows. When? Likewise, who knows.
But, currently is takes $1200 USD to buy a 1 oz. coin.
That’s inflation for you, as, since 1995, it took $400.
And in or around 1920, it only took $20 USD. Then with FDR’s royal screwing of U.S. holders, it was confiscated, and revalued, where it took $35 USD.
What do Russia and China and India know, that the common U.S. consumer doesn’t?
Also, silver is less abundant than gold, and is used for many industrial applications for it’s metal properties…solar panels, for one.

In the end, to each their own, for tactics and strategies to be a financial survivor, with storm clouds on the horizon.
Having a large cash position as dry powder to scoop up sound stocks or other investments is probably good, vs. being long on FANG stocks, but, too, if bail ins are declared, or the ATM’s go dark, or accounts are frozen during a banking crisis, what then, bitches?
And yes, a good stash of copper jacket lead is wise, as well.
In my humble opinion.

Mark
Mark

Augee,

An outstanding post!

Minor point overall you covered the most important bases. I’d add in the current Gold/Silver ratio, it takes 80 ounces of silver to buy one ounce of gold today, that is out of wack and once it returns to anywhere near the historical norm of around 16 to one…the poor man’s gold will have significantly increased in value. I don’t pretend to know when that is going to happen.

https://www.macrotrends.net/1441/gold-to-silver-ratio

I’m a long term macro guy when it comes to PM’s. I still have some bought in the 80’s at bargain basement cost after the Hunt brothers got their clocked cleaned by the Banksters and some bought in 1999 at was obviously a tremendous opportunity…and some after the slide down from the 2o11 peak. (600% increase before the Banksters got scared).

With the way the world looks from a gaggle of Black Swans circling overhead I suspect we are at a cycle point with PMs greater then in 1999.

A hedge, wealth protection, SHTF insurance, loved ones legacy…depending on your age, historical knowledge, personal situation and personality type…PMs can be better then a sleeping pill.

Fleabaggs
Fleabaggs

Mark..
To ad to the Move up will be the fact that so many mines have shut down. They can’t all reopen right away when demand goes up. That will exasperate the demand for physical delivery. Silver always has more exaggerated upswings than gold as well.
The only paper I own are 2 cheap pieces of remote dust in the SW desert.

Mark
Mark

Flea,

Yep…without doubt that is yet another positive factor.

We all know how the Banksters rig all the markets, especially PMs. To my surprise it has dragged on longer then I thought they would be able to keep it up. There is just no doubt in my mind silver is the most undervalued hard asset at this point in the 4th Turning, SHTF, slow motion bursting Everything Bubble, Great Reset super nova Wealth Transfer.

(How’s that for getting a bunch of buzz words in one sentence?)

I’m 2/3rds outside the Bankster’s reach and if it can just hold together another 10 months I’ll be 100% out…and the only significant paper I will have will be the 25 giant packs of TP in my barn hayloft! (In case that runs out I have a dozen sponges for back up: wipe – wash – rinse – repeat. Everyone else can use their fiat).

Mark
Mark

When the NY Post Starts Talking About Economic Collapse, You’d Better Pay Attention

https://www.theorganicprepper.com/ny-post-economic-collapse/

Fleabaggs
Fleabaggs

The argument that PM’s don’t earn interest doesn’t wash with me. To my way of thinking, staying even with inflation is interest.

EL Coyote
EL Coyote

Fleabo, my buddy said the Clintonistas let the air out of the market when Bush 2 came in. (He had to start a war to reverse the deflation.) Gold is like a buoy, at high tide – when they are printing money – it will rise. Now that they are withdrawing money from circulation, the gold buoy is dropping. If you look at the gold chart, they inflated up until 2008 when the market crashed, then they inflated like mad up until 2011 when they changed course. All this baloney about Kavanaugh impacting the gold price is hocus pocus. The gold price is simply reacting to money printing, sorry to bust your bubble.

Fleabaggs
Fleabaggs

Coy Dog…
That’s a clever line repeated by the misinformed who tell the uninformed who become the I’ll informed.
The market has been temporarily rigged with uncovered short sales (Naked), something I covered on one of my lectures on the impossibility of unwinding our financial condition in the U.S. that T4c scoffed at.
When things collapse, Gold and Silver will still buy the same amount of goods and services they always did.
When silver went to 49 the illegal shorting began in Ernest. Meanwhile Jamie Dimonstein started hoarding physical silver. Since that time all price discovery in all markets everywhere have been purposely distorted which has the added effect of making honest analyst’s look stupid to keep the average Joe and Jane locked into the system.
If PM’s we’re allowed to be fairly priced the dollar inflation since 65 would be so obvious even this new congresswoman from NYC would notice and the Rothchild/Rockefeller scam would be over.
Sorry to bust your bubble.

EC
EC

You didn’t say anything different from what I said, ya moran.

Fleabaggs
Fleabaggs

EL Morono..
Go back and read read our comments. You claim the price is dropping due money contraction. I said it’s being illegally suppressed. The money supply isn’t contracting. The Feds are buying securities with it.
I said when true pricing is restored when markets collapse PM’s will still buy as much as they ever did. Dollars will not.
You said none of that nor did you imply it. Read H&R’s reply below.

EL Coyote
EL Coyote

I get it, Fleabo, shit, you don’t have to send me to some moran’s comment. Gold would be at $3500 to $5000 and silver would be at $70 to $300. You think I was born yesterday, moran? It cost me my entire 401K money ($30K) for an education in the school of hard knocks, I got my ass kicked by HFT computers.

“The money supply isn’t contracting. The Feds are buying securities with it.” That was then, this is now. Foreigners are still buying American debt for the security of American power. Even the Chinks and Japs still have big bucks invested in treasuries. If rates go up, the price of gold will come down more. It’ll look interesting at $900/oz – but then, I’m the one who said Ripple would go to .15

After a while you learn to leave women alone, you want love, get a dog. – Old Pangloss

BL
BL

EC- The new version of that would be , get a sex bot. That whole bot hysteria has died down lately. Maybe old Bill Cosby can order one delivered to his “country club” prison cell. He may be old and blind, but he can still feel his way through.

Harrington Richardson
Harrington Richardson

I have a picture on my office wall of a 1930 Wall Street dandy with a beautiful roadster for sale for $100 in Gold. Gold was $20.60 per Troy Ounce at that time. So he is asking for five ounces of gold approximately. Today the five ounces are about $6,050. The 105 paper dollars the five ounces of
gold cost in 1930 are today worth $105 Dollars.
It is guesstimated that in order to properly price gold it would require dividing the existing pool of created Dollars by the number of gold ounces extant yielding a price around $10,000 more or less. At the time of Bretton Woods it was $35 per ounce. Nixon took us off gold for balance of payments when France said we had inflated our currency to the point where they felt it should be $46 per ounce. It is at this point where you see every chart begin to resemble a hockey stick after 1971.
Gold “is.” It is the amount of fiat for every existing ounce that has changed.

EL Coyote
EL Coyote

Frenchies got tired of defending the $35/oz with their gold since the US was printing at everybody else’s expense.

Augee
Augee

Another lame argument is ” you can’t eat gold” during a hyperinflationary crisis, and “how will 7-11 make change for a gold eagle, If they accept it, and if you don’t want $1400 worth of food?”
Well, you sure as hell won’t find those green pieces of paper IOU’s, very tasty and healthy, and they’re losing value hugely, in hyperinflation. See Venezuela.
The solution? Pre ’65 coins, if you can find some ‘junk’ silver, which is anything but junk.
I’d venture a guess that a silver 1 oz. Eagle, Peace dollar, or Barber might buy some groceries or a pretty good meal from a merchant, especially if spot goes back near $40 / oz., or if the gold to silver ratio reverts closer to historical norms, at 16:1 as Mark accurately pointed out.
I vaguely remember a greasy spoon diner reportedly having a breakfast special sign in their window where they’d accept 2 pre-’65 quarters for a blue plate special, back when spot silver spiked higher.
It could happen again.
Where to find?
Coin shops and dealers.
They really accumulate some for resale when spot prices rise.
Many people are sitting on / hoarding junk silver coins, and sell them off when spots are high, for redemption to fiat spending dollars, due to the higher premium on silver that said higher spot prices produce.

Mark
Mark

Yea buddy!

https://sdbullion.com/90-percent-silver-100-dollar-face-value-bag

90% Junk Silver Coins and Face Bags

Junk Silver Coins, also known as US 90% Silver Coins, generally refers to old US currency coins whose valued is based on the silver bullion value of the silver content they contain. These are 90% silver coins minted by the US Government pre-1965 (half dollars, quarters, and dimes). New investors often incorrectly correlate the term junk silver to the condition of the coin. In actuality, 90% silver coins can come in a variety of conditions from near brilliant uncirculated (BU) to circulated (worn). US 90% silver coins are sought after based on both their silver content and currency value.

Benefits of Investing in 90% Silver Coins

Like the American Silver Eagle Coins, 90% Junk Silver Coins are still official US currency and thus can be used as a means of legal tender face value payment yet it is often saved and held for the long term given the silver bullion value contained within them.

Old US silver coins were once commonplace and formally part of our nation’s standard circulation coinage. Beginning from the signing of the 1792 Coinage Act continuing until silver was formally removed from large circulation coin strikes by the 1965 Coinage Act.

These formerly circulating United States silver coins are sometimes referred to as: Constitutional Silver Coins, Junk Silver Coins, pre 1964 silver coins, pre 1965 silver coins, 90% Silver Coins, or 40% Silver Coins (struck from 1965 – 1970).

In the modern silver bullion coin industry, older once circulated silver coins are often sold in ‘face bags’ which measure the total ’legal tender’ face value each bag contains. The vast majority of Junk Silver Coins traded here at SD Bullion are 90% silver coins stuck and issued before 1965.

90% Silver Coin Supplies are a Leading Indicator of Silver Demand

Seasoned silver investors often associate 90% as a leading indicator of silver investment demand. Because 90% US silver coins have not been minted since 1964, they are typically the first silver precious metal coin to indicate a shortage of silver supplies during a period of increased silver demand. For example, during the peak of the 2008 Financial Crisis, silver bullion supply shortages led to 90% Junk Silver Coin price premiums of up to 40% above the then fluctuating silver spot price.

Conversely when financial markets are calm and physical silver bullion supplies are loose and ready for immediate delivery, older junk silver coins can reach price levels at or very close to the fluctuating silver spot price. When selling older 40% or 90% silver coinage to silver bullion dealers during normal calm market periods, you should expect to receive a bid or offer price slightly lower than the fluctuating silver spot price.

Types of 90% US Silver Coins, 40% Silver, and 35% Silver

SD Bullion carries a full inventory of pre-1965 US silver coins including:
•Pre-1965 90% Siver US Dimes – includes Mercury, Liberty Head, and Roosevelt
•Pre-1965 90% Silver US Quarters- includes Washington, Liberty Head and Standing Liberty
•Pre-1965 90% Silver US Half Dollars – includes Liberty Head, Walking Liberty, Kennedy, and Franklin
•Pre-1965 90% Silver Dollars- includes Peace Dollars and Morgan Dollars
•40% Silver US Half Dollars – includes Kennedy Half Dollars minted between 1965-1970 and also 1976
•35% Silver War Nickels- minted 1942-1945

Available Junk 90% Silver Face Bags of $1, $100, $500, and $1000 on Sale

You can buy 90% Junk Silver Face Bags in increments as little as $1 face value. Each $1 face value contains .715 ounces of silver.

You can also buy 90% Silver Coins in bulk increments of $100 Face Value, $500 Face Value, and $1000 Face Value.

Why do people buy and save Constitutional Silver Coins?

Both old US 40% and 90% silver coins are still legal tender today but they are most actively traded based on their overall silver content and not their legal tender face values. Many silver savers like owning these old US silver coins for potential use in direct barter or trade. For example small old US 90% silver dimes contain about 2.25 grams of silver in each coin. In a financial crisis, many contend these small denomination silver coins could come in handy when purchasing everyday goods and services.

Yet the largest most important reasons people buy and hold old US Constitutional Silver Coins for the long term is the fact their precious silver content has proven to be a good hedge against ongoing fiat currency debasement and purchasing power loss. In short, silver retains its value over the long term allowing holders to keep a portion of their wealth in these private, tangible, legal tender, precious metal silver coins of our forefathers.

The Doc’s Take on 90% Constitutional Silver Coins

Owning 90% Junk Silver Coins is often part of a diversified precious metal investment portfolio. It is primarily sought after by silver investors for its currency value and as a hedge against the possibility of an economic or currency collapse.

Because of its smaller denominations, it provides a way to barter for everyday items during a period of survival. Old US Silver Coins also better maintain their values vs fiat currency over the long term, due to their precious metal content.

Have additional questions on selling or buying 90% Junk Silver Coins? Call our bullion trading desk at 1-800-294-8732.

EL Coyote
EL Coyote

I’m not sure if advertising on a blog without asking permission from the Admin is kosher.

Anonymous
Anonymous

Good point. He’s sounding more and more like a SD Bullion account executive, or at least an inside sales guy.
Still, unless Admin tells him to cease and desist, he is providing a source, for those wanting to dabble, without knowing how or where to.

Mark
Mark

Gentleman,

Just passing on a tried and true source for PMs from personal experience and some detailed information I thought might help someone on TBP.

If I would have thought it would be taken this way I never would have sent it.

Just a good deed not looking to be punished.

Fleabaggs
Fleabaggs

I buy mine there.

EC
EC

Not looking to punish you, I appreciate the info!

Mark
Mark

Your welcome!

EC
EC

Do you know if coin purchase thru SD is considered cash equivalent for purpose of CC rewards exclusion?

Fleabaggs
Fleabaggs

L C..
Just saw your note on R Gore post.

Mark
Mark

EC,
I don’t.

Augee
Augee

Mark, I didn’t take it the wrong way. In fact, I thought that was very informative, and well sourced.
Since Admin has coin info links on the site’s sidebar, I didn’t think he’d object, either.
He does have a few wise, influential regyoolahs round these parts that watch out for anyone abusing posting or commenting for their own gain, on Admins blog. And that’s a good thing.
Andy Irvani was one subjected to the ban hammer, and rightfully so, since she was warned repeatedly to stop posting self promotion links.

You did nothing of the sort. You offered sound advice, and a go to source.
It’s all good, brother.
Readers can take it or leave it.
Keep your comments coming.

Mark
Mark

Thanks Augee!

I have never noticed the coin links…I’ll look for it.

Fleabaggs
Fleabaggs

Mark..
We’ll put.

Mark
Mark

Thanks Flea…I’ve been long time loaded up on American Eagles and Junk…since it came down to the mid teens I started stacking their We the People – Liberty Bell 10 oz bars.

When I hold that real money in my hand I feel dam patriotic!

And in its own way it tells the Banksters to go to hell.

Harrington Richardson
Harrington Richardson

They left out a couple of details. The average $1,000 bag of circulated 90% silver coins contains 715 (more or less) ounces of silver. Uncirculated they will contain 723 ounces. War nickels have the most silver per Dollar but some of the metals they are alloyed with are combustible or explosive making it tricky for the average guy to just fire up a backyard smelter to melt down war nickels.

steve
steve

Plus nickel is very carcinogenic -the gases from smelting that is.

Anonymous
Anonymous

Any vaporized metal can be carcinogenic, look at all the 9/11 survivors who have cancer or died of cancer. That metal went somewhere and it looks like a lot was vaporized in 200 degree temps. EC

steve
steve

Mark,

Great post.
I buy from SDB also.

In 1940 a gallon of gas was about a quarter. That same silver quarter still buys that gallon of gas today! Same with gold. For a 1000 years a 1 oz gold coin bought a nice men’s suit. Still does today, a 1000 years later. Thats inflation protection extraordinaire.

Mark
Mark

Steve,

Thanks.

“Thats inflation protection extraordinaire.”

With out a doubt buddy!

This thread “triggered me” so I pulled out some fiat and ran to my “silver safe space.” A great number of buys were unavailable…temporary sold out. I bet the volume of physical silver being sold at these prices is massive. I don’t care if they drive it down to $10…I’ll buy all the way down and wait like a vulture on a branch…this an’t my first PM rodeo.

Fleabaggs
Fleabaggs

Steve..
Exactly. That’s what I was trying to express about matching inflation is interest in my way of thinking.
A Suit bought in 1950 that cost 50 bucks would be out of our price range now. 50 bucks will get me a used blazer at Goodwill today.

steve
steve

Augee,

I agree 100%. You can buy bags of “junk coins” from dealers e.g. BGASC.com. I do biz with them. Very quick and competitive pricing.

One more thing not mentioned about PMs and maybe the most important. They are a store of energy ALREADY SPENT. Stock, Bonds, etc are based on a future energy expenditure that may or may not occur. When the collapse occurs there will be very little precious energy to spend, which itself will drive PMs to the moon. Ore grades are crashing and exploration and mining costs are soaring.

Mark
Mark

Yet another positive and precious point….

Augee
Augee

Steve, re: miners, exploration companies, much to learn and know before diving into that roll of the dice. Casey’s Louis James knows his stuff, and now independent counsel. Casey’s put out a paper on the 8 P’s of study, if considering speculation on Jr. miners / explorers. Many sprout up when base metals rise, and something like 90% of them lose money for investors. But one good one, well researched with good People, Proven reserves, and 6 other P factors…could end up being a 10-bagger return on your investment.
For investing, I think the smarter place to ride favorable coat tails to strong returns are with the royalty companies. Royal Gold and Silver Wheaton are 2 pretty good ones, if not mistaken.
They pool investment money, fund the producers for a cut of the producer’s sales profits, on a sliding scale that’s lucratively favorable when spot prices rise quickly.
If I have it right.
Might’ve missed a detail or two.

EL Coyote
EL Coyote

Steve, Mark’s recommended site has lower quotes. Although I like the idea of dime rolls…

Mark
Mark

I picked up five rolls of dimes last week…if Brandon Smith’s timing is right they will come in handy sooner rather later.

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