Posted on 01/29/2021 10:56:24 AM PST by amorphous
Most investors who focus on precious metals and commodities know that gold had a great year in 2020, up 24.6%. However, not as many know that silver did even better! Silver was up 47.4% in 2020, rising from $17.80 per ounce on January 2, 2020, to $26.35 per ounce on December 31, 2020.
Silver didn’t just outperform gold in 2020; it also outperformed every other major asset class, including U.S. small cap stocks (up 18.5%), U.S. stocks (up 15.5%), U.S. corporate bonds (up 9.7%) and U.S. Treasuries (up 3.6%). Many other asset classes declined in price in 2020, including commodities, the U.S. dollar, real estate and crude oil.
Silver backed off a little in early 2021 (it’s now trading around $25.25 per ounce), but it has held onto almost all of its 2020 gains. Of course, the question for investors is: Where do we go from here?
(Excerpt) Read more at dailyreckoning.com ...
You normally gotta pay sales tax, which puts you in an immediate loss situation. Go to a gun show, where there's always a coin dealer or two. Take him aside and mention you want to buy big amounts of silver and ask what his best price is, "including sales tax" (cough). They usually take the hint and work with you.
You make some good points.
Do you think the Gold and Silver Markets have been artificially suppressed?
“I think I’ll keep using land as one of my stores of value.”
That’s not secure either. This past December I closed the sale of a long time family property in SoCal that was in ‘the path of development’. I explored developing it myself and ran headlong into the cronyism and corruption of Democrat politics. There ended up being discussion of eminent domain to seize the property so I sold out and the best offer was significant.
But I almost lost it.
“Do you think the Gold and Silver Markets have been artificially suppressed?”
I don’t think so just because gold and silver are such important industrial materials these days. They’re entrenched in the commodities markets even though they’re seen as precious metals.
I don’t know about that but ammo prices have certainly gone up.
However, my son and I have been finding places to buy it.
You just have to be wiling to pay the price.
Of course, remember when England sold much of its gold at $250 just to keep that bull run contained? Read GATA.org for compelling information.
Quote from Eddie George, Governor Bank of England in 1999, when BoE dropped 400 tones of Gold, 50% of the BoE’s gold on the market:
“We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K.”
I remember this great folly as it unfolded, only recently were suspicions verified. Keep in mind, we have entered into a great gold rush, manipulation can not suppress the price when physical shortages are EVERYWHERE! Demand sooner or later overrides manipulation, the vast sheeple’s eyes are on paper equities, fast , dirty,paper money. Let’s see what happens when the USD drops another 12 percent ( this Last year), currency crisis IS ahead! Do keep in mind PMs are Biblical clean money, been so for more than 2,000 years.
JP Morgan supplies SLV with their required SEC silver fractional physical- be very, very careful investing in paper silver....if I were a betting man, JP Morgan just may be finally broken through SLV....remember, what happens when a “ failure to deliver” happens?
It may already be too late to buy physical gold.
Huh? Goldman’ s conservative forecast is $3500. Other legendary greats calling for 5,000.....IF ( I believe when) we have the currency crisis, 15,000 is likely. I watch all the internet gold sellers, most have been out of fractionals, quarter oz, half oz, for the last year! What does that tell you? Well, you can hack saw a AGE in half or quarters for small purchases, best to have 1/10th, and quarter US Gold Eagles BUT they have gone dry long ago.....AND a few mints have started minting 1/2 oz of silver rounds....think they did that “ just because”.....been in this for more than 20 years and I have never, ever seen anything like this....keep in mind Venezuela’s gold price( and Argentina) .....it happened in less than three years....
” Gold in Venezuela gained 252.69 Bolivar overnight with the last trade at 18,658.65 with Silver pushing up to 274.457 Bolivar showing a gain of 21.873. Gold under the Argentine Peso now has a 162,823.50 price behind an ounce proving a gain of 2,278.73 Peso’s with Silver gaining 191.88 A-Peso’s with its last trade at 2,395.11. Turkey now has Gold priced at 13,626.09 Lira, proving a 21.91 gain with Silver’s last trade at 200.477 T-Lira, gaining 13.728 since yesterday...”...Get.Out.Of.Paper. ASAP.
North Tampa Saturday, $1 a round 5.56 , 77 grain match,$ 1.20 round for 9mm self defense...none was selling...I went back Sunday 3:00 PM, picked up some for less than half of asking price ( just a few boxes). The crates did not sell.
Have heard predictions that gold could go to 10,000 an ounce and beyond so that lines up with your currency crisis prediction.
I get ya. I have a lot of small gold pieces.
Their inventories change by the minute. Best bet if using a “ major”, is buy from their pre-order. It will take up to 5 weeks to receive it from them who buy directly from the mint. Next best- eBay- BE CAREFUL, there is much, and much is high, high today, cheap tommorrow? Buy from coin shops who list on eBay, you can look up their ratings and transaction histories. I do know this bull is historic, one banker ( suntrust senior officer) I know buys tens of thousands at one whack....dealers always hold back inventory knowing it is getting scarce, and prefer $100,000.00 plus orders...the door is closing rapidly. Myself, silver is today’s choice, US Morgan’s, Peace dollars and US silver Eagles that are less than $5 over spot ( silver Eagles have always been pricey). Vintage US gold coinage ($5, $10 gold coinage) has been my choice till last week when premiums skyrocketed. Be diligent, remember, there always are pullbacks and the higher the price, more people sell to take profits. My formula has always been 60/40, 60 silver, 40 percent gold. Do not pass up something you feel has high premiums, I remember refusing to buy silver Eagles at $4.50 each when silver spot was $3.80....early date US silver Eagles 86-88 now bring about $45-50...1988 Gold Eagles are bringing about $2200 plus minus.Todays spot was $1848. Happy hunting, don’t panic, but realize very few today are aware of the current historic gold bull, they are to busy trying to make money in the paper markets where inflation, taxes, and drop in the USD give them a very, very expensive haircut....do be aware Biden’s Treasury pick, Yellen has spoken of taxing “ unrealized Capitol gains”....that includes Roth’s, IRA’s, anything that has a social security number attached to it...I will ramble on one more point, get in before the $1.7 trillion relief package is passed, THAT is when we are off to the races. God Bless.
” If you think the S if going to HTF, then you might want to stick with someone who knows your face.”
If the SHTF, shiny metal is only worth melting down to make bullets. Ammo will become currency.
Good point. Keep in mind real estate is NOT liquid, and taxes are skyrocketing, I sold 40 gold Eagles in 08 for $800 each to get into my house...today those Eagles are worth $80,000, my 240,000 house at that time was just recently appraised at $400,000...MINUS the $4200 in taxes for 12 years ($50,000 in taxes paid)...gold was the clear winner.
A roll of gold Eagles (20) , about $40,000 today, fits easily in your pocket. I have lived all over the world, in times of severe financial stress, people move, sometimes to escape violence, disease, natural disaster, food or just to find work. My local gunshop just closed, he had a few crates of 5.56 and 9mm, guess what? He would only take gold for it...think hard about that.
....and yes Gold got the ammo, primers and a few pounds of powder....point being gold, not cash, not violence, obtained what today seems unobtainable.
No bites? For the thinkers, look at the wealthiest nation in South America, Argentina. In 2001 their Pesos was pegged to the dollar 1 to 1...the socialist government that crept in due to their CURRENCY crisis had a chilling effect....did you see what their gold price for one ounce was today?
162,000 Pesos....IF they had not experienced the currency crisis, socialism and maintained their 1 to 1 dollar peg, the price for an ounce of gold would be 1,850 pesos, not 162,000. This is happening all over the world, every nation’s paper unit is taking a beating against gold. Common links? 1) socialism 2) debt 3) currency crisis....every wonder why our money says “ In God We Trust? ....well, a Demoncrat just introduced a bill to remove that phrase from our money, hello Venezuela.....
You have a wealth of knowledge on the subject. Thanks for sharing.
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