Panicky Greeks Paying Over $1,700 Per Ounce For Physical Gold

coinupdate.com ^

[Rusty0604]

The Bank of Greece has received as much as $409 per coin, which works out to a price of more than $1,700 per ounce of gold! Prices paid on the black market are reckoned to be even higher.

[Christian_Capitalist]

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[bert]

If you are interested in dealing with them, Call them and ask for their guidance.

[WOBBLY BOB]

gold ping

[djf]

Some of the analysts are actually saying now there is more gold than silver in usable, above ground form.

Estimates for gold are usually in the 7-10 billion ounce range. Silver estimates are coming in at 5-6 billion ounces.

[Rusty0604]

On shipping instructions I put “do not leave at door”. So if I’m not home to sign for it I pick it up at the post office. APMEX usually ships within a few days.

[Christian_Capitalist]

Some of the analysts are actually saying now there is more gold than silver in usable, above ground form. Estimates for gold are usually in the 7-10 billion ounce range. Silver estimates are coming in at 5-6 billion ounces.

I'm comfortable with the mathematics provided by this article, which relates that "Clearly, silver is not more rare than gold, but a 1 to 5.78 rarity ratio is indicative of the incredible leverage to be found in all silver related investments...".

I do believe that silver is a good deal more common than gold; it's just an atomically more-common Element in the makeup of the Earth's crust!

But it's not vastly more common. Even if there is only 6 times as much as silver above ground as there is gold (or a little less than that, even), if both return to usage as Monetary or quasi-monetary metals within the next decade (as I think not only possible, but perhaps likely), then it's easy to imagine silver returning to its ancient, historical Valuation Ratio of about 1/16 of gold's price; and possibly even move closer to its actual scarcity ratio, perhaps 1/10th of gold's price.

But a return to those levels, from silver's current price of only 1/66th the price of gold, would imply gains in silver valuations 4 to 6 times greater than concurrent gains in gold valuations. Silver also has more utility value as small-denomination coinage for the purchase of food and other essentials in an inflationary depression or similar national crisis. I trade both but I like silver a little better.