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Fri Aug 7, 2020, 04:03 PM

my .02 on selling gold

I have a small squirrel stash of gold waiting to be melted. Everything from pocket watch cases to metal detecting finds from a 12 year period. This is my only shot at these prices I'd wager so here is my betting theory.

It will probably end up like the end of this video....

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Reply my .02 on selling gold (Original post)
Boxerfan Aug 7 OP
CountAllVotes Aug 7 #1
safeinOhio Aug 7 #2
Boxerfan Aug 13 #4
doc03 Aug 17 #5

Response to Boxerfan (Original post)

Fri Aug 7, 2020, 04:35 PM

1. I have a small amount too

I don't think I will sell it.

I think I'll keep it because it may soon be the only thing worth anything!

I had high hopes for silver. It may never see $50 an oz. again it seems but

Best of luck!

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Response to Boxerfan (Original post)

Fri Aug 7, 2020, 05:11 PM

2. Have a small jar of silver coin

I found metal detecting. Sold the gold a long time ago.
Had 20 one oz coin I bought. Sold them years ago for double what I payed for them. If I had bought Apple stock with that money, Id be a millionaire today.
Now I get my treasure finds at garage sales. Doing way better than metal detecting. I do get it out once in a while.

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Response to Boxerfan (Original post)

Sun Aug 9, 2020, 09:36 AM

3. OK...That was funny!

Hold until you're the only one left?

I was told once that if it really came down to the point where gold was the only thing worth anything, then....OK...now what?

Are you trading gold dust or ingot shavings for loaves of bread or meat?

We value gold in terms of dollars. Paper currency. So what if you trade all your gold for currency and there is a devaulation of the currency?

One of my biggest fears toward the end of the W. Bush era was realized; that the credit rating of a US Treasury Bond would be downgraded. It was only to the extent that the Credit Swap rate went up - the cost to insure a given amount of US Treasuries rose significantly in the years of the financial crisis. Gold rallied back then as well.

We have never defaulted on an interest payment, nor have we ever failed to redeem any maturing series or Treasury paper at par, so the demand for our bonds remains fairly strong.

Trumpy and the Repubbies could seriously change that if they keep going the way they are going. Trumpy stimulated an economy in no need of stimulating, by giving away the tax cut to the wealthy and corps, thus fueling a market rally.

But how long can that last?

I hope your gold trade is profitable, however. It could of course, go way higher, but if the dollar gets to the point where it is worthless, then what?

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Response to Boxerfan (Original post)

Thu Aug 13, 2020, 10:07 PM

4. We are at the British Army now...Hold!

Besides I'm afraid of safe delivery thanks to the sabotage on the US Postal service.
I'm hoping my nerves can hold to the Terminator phase but I doubt it.

Beside I wait to long & everything else has gone up in runaway inflation. What would you expect if Anus Lips fails to leave office despite an obvious loss. He will do that I'm certain-he has no choice.

That's the nuke phase of the video. I hope we never get there.

I didn't make it but I also thought it a good parody.

I wish I had found a jar of silver-I have a $5.00 gold coin that will be my daughters. I'm saving my 2 best rings but I am melting a 9.98 gram pure nugget .

But as far as rings chains etc...I really did well but it is diminishing returns. Very few donations nowadays & I just don't do tot lots anymore. And frankly for a dirt digger tot lots is where the bulk of lost jewelry is found.

But I also ran a Tesoro for years and it found stuff left behind by the coin hunters. My strategy?. I'm in it for exercise so dig anything that beeps. Don't use a screen id or anything other than just above iron discrimination. Every 2-3 hundred pulltabs you get a free gold ring. More or less I've had droughts & otherwise but in all a real blessing. But my local dirt is as clean as my machine can get it. And the other detectorists hate me for it. Tough beans they left so much behind trying to just get silver. I will say they did that very well.

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Response to Boxerfan (Original post)

Mon Aug 17, 2020, 05:30 PM

5. I have one proof double eagle it has finally

become worth more than I paid $1595. I think I will hold on to it. Have several silver eagle proofs and one uncirculated. You found some with a metal detector? I have thinking about buying one. I have a pawn stars old man coin I payed $80 for I see them on eBay for $125. A friend of mine has bought a 1oz double eagle every year since they were introduced 1986 I think and a gold buffalo every year he could get thousands for them.

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