hey Boston....
- Thread starter barrister1602
- Start date
100% legit. Probably the number one retailer for sourcing PM's. They also resell on ebay and do weekly promotions that are cheaper than their own website . They usually start the promotions on Thursday or Friday. Look for deals on Canadian Maples, US Buffaloes and US Eagles, as well as bullion.
Also providentmetals.com and jmbullion.com are good places to source precious metals. There are other PM dealers on ebay that also offer good value that I have used without problem. (bullion exchanges, MCM, and others)
thanks!! I'm a complete newbie to the PM game. What are your thoughts on Gold/Silver Eagles? I can buy a 1 ounce gold bar from Apmex cheaper than a 1 ounce gold eagle. Should I concentrate on bars instead of eagles or get both? I appreciate your thoughts on this.
I prefer a mix of bullion and coins, leaning more towards the coins - like 80% coins. You will get the premium back when you sell anyways and possibly more as the coins serve a dual purpose of investment and collectible, whereas the bullion is purely investment. They are a magnificent site and beauty.
On the silver side, I prefer the Chinese Silver Pandas, as they hold their investment value better than the eagles. That said, the premium shot up from $6/coin to $10/coin over spot, and with the 2016 run they dropped the silver content from 32g to 30g. The US eagles are good too with a lower premium over spot. Make sure you store them in air tight container - get the 20 unit tubes. If exposed to air, silver is prone to tarnish. Just make sure they aren't exposed to open air, no matter how you store them.
On the silver side, I prefer the Chinese Silver Pandas, as they hold their investment value better than the eagles. That said, the premium shot up from $6/coin to $10/coin over spot, and with the 2016 run they dropped the silver content from 32g to 30g. The US eagles are good too with a lower premium over spot. Make sure you store them in air tight container - get the 20 unit tubes. If exposed to air, silver is prone to tarnish. Just make sure they aren't exposed to open air, no matter how you store them.
barrister - one other thing - on the silver side, there are some very intelligent people who wholeheartedly believe that JP Morgan has a 500M ounce silver stash that they keep for their house account. It's well known those crooks manipulate anything they can make money on, and the speculation is that when JPM wants silver to go to $100/oz, it will. So you have two sovereign sized entities (JPM and China) hoarding silver.
In other words, you may have better upside with silver bullion. The gold to silver ratio is at 78 or so last time I checked. Historically it has been way less than that.
In other words, you may have better upside with silver bullion. The gold to silver ratio is at 78 or so last time I checked. Historically it has been way less than that.
Not hating, cos I find precious metals fun myself but just curious, approximately what % of ur portfolio is legit hard precious metals?
I know your question was directed to Boston, but its something I've also been thinking about. I am starting from scratch in the PM game. I've been doing research and talking to various folks. Very wide opinions about investing in PM. I recently settled a large case and have some extra funds to play with. I've used part of these funds to buy some land that I speculate will increase dramatically in the next few years because the direction of development in Tulsa. I'm also going to use part of these funds to get in the PM game. When it is all said and done, I will have about 5% to 8% of my total funds in PM's.
Just purchased a load of Uncirculated Silver Eagles from APMEX. Also got the Silver Eagle monster box and the tubes you recommended. Thanks for your help on this.
You all will be fuked when our economy crashes and everything is on the public ledger. Spend it all now on crack and high class hookers. Investments are useless.
I think those monster boxes come with 25 20 unit tubes. I wouldn't even break the seal if it comes from the mint like that. In general, the less invasive you are on the packaging, the better it will hold its resale value. The chinese panda's I collect are worth more sealed in their original packaging.
Ask me how I know about the tarnish. I didn't store like 35 coins properly and they got nipped by tarnish. F'ing sucks.
Gold back tests very well and there's some evidence to support it as a pillar of an overall asset allocation. The theory goes that it provides a great diversification for periods of high inflation or stock market downturns. Personally, I don't hold any because the data does not go back far enough for me to feel confident in it as an investment. I only look at gold 1975+ because pre Bretton Woods is pointless and 1972-1974 is unrepeatable. Check out the link for more historic data on Gold as an investment.
https://portfoliocharts.com/portfolio/golden-butterfly/
https://portfoliocharts.com/portfolio/golden-butterfly/
People are losing faith in politicians, fiat currency and central banks. Participation rate at historic lows. Food stamps at historic highs. The big boys have already started accumulating gold. You are still not too late though. China has at least a few more years before they pull the rug out from under the West with their PM backed currency. Until then, we can continue to reflate. Some T/A I follow indicates gold at $3k/ounce is starting to get bubblicious.
* Soros - buy gold - check
* Icahn - buy gold - check
* Druckenmiller - buy gold - check
* Kyle Bass - buy gold - check
* GLD holdings up drastically this year - check
* Chinese, Russians and other central banks accumulating massive amounts of gold - check
* NIRP/ZIRP favorable to gold - check
* What asset class hasn't been in a bubble for a long while? - check.
I've seen this theory and don't believe China is planning a PM backed currency. The Gold Standard puts large constraints on controlling the monetary supply; the monetary supply is expanded by the production rate of gold. That doesn't equate to the growth rate of the economy and can effectively limit the economic growth. While China is the largest producer of gold in the world, a new gold resource can create large expansion in the monetary supply creating an uncontrolled inflation, an unknown quantity that can't be predicted (see Spain when Americas gold began to see European soil). There's also the concern of deflation and the contraction of the monetary supply seen by hoarding gold (see The Great Depression). To me it seems like a very big risk for China with too many unknowns and uncontrollable variables.
What the big boys are likely doing is diversifying against "deep" market risk. Essentially, deep risk are market losses that take long periods of time to recover, if it's recoverable at all. One example is inflation where purchasing power is consistently diminished and never truly recovered because the FED avoids deflation like the plague. As I've mentioned before, gold has historically done very well as a risk mitigation to periods of high inflation and market downturns.
That silver rumor has been around since the 70's since the Hunt brothers down in Texas tried to horde it under the same theory. People lost their shirts.
Wrong. You are confusing the Hunt brothers feeble attempt at cornering the silver market with what is going on in the physical silver market today. But good point how guys with just a few $B can move prices so dramatically. The Chinese and JP Morgan want to slowwwly accumulate physical silver until the time is right for a breakout. Then, and only then is it off to the races.
You can read about it here:
http://www.silverdoctors.com/silver...er-to-soar-as-physical-stockpiling-completed/
The Chinese have publicly stated that gold is a central part of their currency in the future. Not only that, they were recently denied having their A shares be part of the MCSI basket of equities. So here is what is arguably a society that could be developed into fledgling democracy that the big boys refuse to let have a seat at the table.
There is really only one way that China can win a currency war with the U.S. That's with an asset backed currency, and they've made it very clear that PM's are a central part of that strategy.
Not entirely true. Vanguard has A-shares on its Emerging Markets Index Fund. Vanguard uses FTSE indices though. However, it's worth noting inclusion of the A-shares is based on quota licenses which limits the numbers of A-shares purchased. That is the main reason MSCI pulled back from including A-shares in their indices. The market is not fully accessible and open which
adds additional risk to the funds that track the indices.
Even if China wants a currency war with the U.S., the only situation in which a PM backed currency can win is in a period of high inflation. The Fed executes its monetary policy to limit high inflation (and deflation) which doesn't give China the opportunity to strike.
For anyone interested, tube of eagles on sale on apmex ebay. Assuming you get 2% back on your credit card, that works out to about $20 cheaper than equivalent cash price on website.
http://www.ebay.com/itm/12185917159...=email&utm_campaign=2016-6-15-eBay-4-products
http://www.ebay.com/itm/12185917159...=email&utm_campaign=2016-6-15-eBay-4-products
I picked up some more eagles too. They are beautiful coins. Gold made a solid run to a 13 handle today, but backed off. It's still the traditional slow season for gold through end of July until India wedding season starts up again. Silver is still under-performing, but gives time to stack while it's still cheap.
PM's and PM based equities are setup well for a solid continuation of the new bull market. I fully expect we'll have a black swan event in financial markets down the road. When that happens, everybody will make a mad scramble to accumulate as much PM and other hard assets they can get their hands on.
A 'handle' change from 1200's to 1300's. Trader talk. Gold likes nice round numbers - e.g. 1220, 1250, 1280 and in particular - the handle change around another hundred usually provides technical resistance and impressive volleys between the bulls and the bears.
At least for gold, a handle change makes a big psychological difference and oftentimes provides fuel for next leg higher if stuck at technical resistance below the handle change.
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