PM Prices Starting to Rise
Source: Pexels
It's been a long year for a lot of people in terms of financial investments, specifically if you dare to think outside the box of tradition IRAs, 401(k)s, and mutual funds. While the broad stock market has done fairly well, precious metals have been taking a beating. The crypto space has also been stifled these last 10 months.
I won't say much about crypto in this post, instead focusing more on the precious metals. A few weeks ago we saw silver hit a low that we hadn't seen in quite some time. It was down just above $14, $14.06 to be specific. Although it's not great if you're trying to sell, it's a great time to be buying. Over the last few weeks those numbers have been creeping up.
Early this week we really started to see a rise and the price of silver even got into the mid $14.80s. This have dropped slightly over the last few days, but seem like they're primed to start climbing again.
I'm not a technical analyst, but I try to keep an ear out for what's happening with precious metals as I want to invest more in both of them. According to the Daily Coin, JP Morgan has shed their short positions in silver and gold and are now long on both of them. That could mean they're getting ready for the price to go back up.
If you're planning on investing in more physical precious metals, now might be one of your last opportunities to get it at these low prices that we've been seeing. It could go lower, but it's hard to tell which direction things will go. If we could tell that, we'd be rich, right?
Are you planning on making any big buys before the PM prices finally rebounds?
Note: Not investment advice. These are just for informational/entertainment purposes. Do your own research. Never invest more than you can afford to lose.
I was a buyer in the last run up that watched Silver touch nearly $50 and come all the way down. I do see PMs as a chaos hedge but you have to pray for world chaos to make serious money. I am left with giving it its 5% of net worth and forgiving it for never sending me any income.
I'm sorry that you didn't get the returns you were hoping for. From what I hear and read, there's a lot of manipulation that's causing the prices to be so low. If silver were to be at its true level, they worry that people would see that as a sign of a weak economy... which is really is.
Hopefully you're able to get a good return on your money at some point. Things are going closer and closer to chaos, so even if that's what's required, I wouldn't bet against silver having big gains soon. Just my opinion though.
sir noname! yes sir it sounds like a great time to start buying. Hey do they make any Platinum coins? and what is that about a one dollar coin?
Yes, they make platinum coins. They're just more expensive than silver.
Now sure what you mean on this.
howdy again sir Bondie! ha..well sir, pocket change was saying this: The One Dollar Face Value Coins will have the same Purchasing Power as 100 Federal Reserve Note Dollars, after the Reset of all U.S. Coinage."
And I didn't know about the coin reset or what he meant by the one dollar coins.
Ahh! Now I'm tracking.
First, background information. The Federal Reserve, which is a privately-owned company is the one that creates the currency for the US government. The US borrows it from The Fed and promises to pay them back with interest. This is why we have the national debt.
The US Mint is part of the US government and mints the coinage for the US. They are separate from The Fed.
pocketechange has a theory that the US government will arbitrarily increase the value of the US coinage so that $0.01 minted by the US government will have the same purchasing power as $1.00 printed by The Fed. Thereby the government will be able to pay off its debt to The Fed. The people who are invested in US coinage will see a huge increase in purchasing power (100x) by holding physical US coinage.
Coins such as the US Silver American Eagle have a face value of $1.00, so not only does it contain silver, but in pocketechange's theory, would have the purchasing power of 100 $1 bills as the American Eagle is minted by the US Mint, not printed by The Fed.
Make sense now?
wow! yes sir Blondie, I understand it. Well what do you think, you think that could happen? I mean it sounds a little too good to be true but it sounds like sir pocketchange has expertise and knowledge.
I'm not sure about it. I tend to lean toward going back to a precious metals standard. Part of the reason we're in this mess is that we're using an unbacked, fiat system. The only reason the currency has value is because the government says so.
The main difference between the current system and the one that pocketechange is proposing is that in his theory the currency would be minted by the government itself and not a central bank. Therefore, it wouldn't have to pay interest to itself. However, it would still be a fiat system so it would allow for unlimited currency-printing. That's just going to cause another similar crisis eventually.
oh so you are saying that even if they implemented the method he is talking about it would only be temporary. That sounds logical too, not a permanent fix.
It could be a temporary patch, but any and every fiat currency in history has gone to zero value. So in the long-term it wouldn't work out either.
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As much as I like the PM’s, Common Clad U.S . Coinage is at Rock Bottom Prices...
It's true. You really can't beat being able to pay face value for something. I wouldn't mind being able to pick up American Eagles for face value. Heck, I wouldn't even mind paying the $2.50-$3.50 premium on them if that was on top of the $1 face value. :D
The One Dollar Face Value Coins will have the same Purchasing Power as 100 Federal Reserve Note Dollars, after the Reset of all U.S. Coinage... The Precious Metal U.S. Coinage will have the High Face Value Advantage, along with the Premiums involved... You may want to hold off on buying the One Dollar Face Value, Silver U.S. Eagles, unless you're outside the United States and can't get your hands on the One Dollar Clad U.S. Coinage...
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howdy sir Blondie! well sir, I guess I'm too late to start collecting. rats. I should have started last year. or ten years ago. think of the stack I'd have by now. But I did find out that our local town has a coin shop and the reviews on it are really really good.
You're not too late. And if you had started investing that long ago, you might have gotten to ride down from the highs at $50 like one of my other commenters. I still think it's a great time to get in. If I were you, I'd be checking out that shop and seeing what you can get that has low premiums on it. Likely the silver quarters or dimes. Silver rounds can be good too.
howdy again sir Blondie! haha ya know what, after seeing all the different silver rounds the quarters and dimes are so ugly! lol.
Up to you. I think everything can have a place. The quarters and dimes are relatively cheap. You can get a Roosevelt dime for around $1.10 right now and it contains 0.0723 ounces of silver (assumed at 0.0715 because of wear and tear).
Alternatively, you can get 1/10 ounce rounds for around $3.00. Do you really want to pay an extra $1.90 for an extra 0.03 ounces? For that $3.00 you could get 2.7 silver dimes. I'm not saying that I wouldn't get one 1/10th ounce round, but that's not where I'd put my money. Just me.
well sir Blondie....I guess I don't like the little stuff, I like the one ounce or more but then the little stuff would be necessary if silver was used as currency for a time when and if the stuff hits the fan.
Which I don't think is going to happen in our lifetimes but that's an extreme minority viewpoint! lol.
I like the larger stuff as well. It feels good to have a 2, 5, or even 10 ounce bar in your hands. That's a good feeling. You can get the same feeling by holding 10 ounces of dimes. It just takes a few more pieces. ;)
Being that there is less than 4% purchasing power left in the dollar and the debt is growing rapidly, I wouldn't be surprised if it happened by the end of next year!
sir Blondie but you would think that they would see it coming and do something before things collapse. Do you have 10 ounce bars?
They can see it coming, but they're running out of time to cushion the blow. There's only so much that can be done.