St. Phatty
Active member
In 2009 one dealer said they could get me 1000 ounce bars but that didn't sound interesting at the time.
Now none of the etailers will take an order for a 1000 ounce bar.
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Short term trades in the stock market •$$$$$•
- Thread starter TNTBudSticker
- Start date
In 2009 one dealer said they could get me 1000 ounce bars but that didn't sound interesting at the time.
Now none of the etailers will take an order for a 1000 ounce bar.
Here in Alberta, the coin dealer wants 35% premium over spot for silver coins/bars. Gold premium went up to 3.5% from 3% last week. Platinum unavailable. I added another oz of gold.
I asked the dealer how he mitigated volatility risk. He politely spoke a bunch of mumbo jumbo which I interpreted as "fuck off, none of your business". I believe they mitigate risk by increasing premiums as prices drop and pulling inventory completely when they reach their threshold of pain or sit in a losing position. Then they ride it out. They keep inventory as low as possible and replace each sale immediately if they don't have an offsetting purchase. They must have a supplier operating at 1% above spot. He's the guy I need to find to build my position.
I asked the dealer how much he would pay me for the coin I just bought from him. He hemmed and hawed and said 3% below spot. That's in a falling market, I suspect in a bull trend he'll try to move the % higher, while reducing his premiums on sales. I have to find a source selling closer to spot..... At the moment, Kitco has higher gold premiums than my local dealer. How do I get to the next level as a small player?
I asked the dealer how he mitigated volatility risk. He politely spoke a bunch of mumbo jumbo which I interpreted as "fuck off, none of your business". I believe they mitigate risk by increasing premiums as prices drop and pulling inventory completely when they reach their threshold of pain or sit in a losing position. Then they ride it out. They keep inventory as low as possible and replace each sale immediately if they don't have an offsetting purchase. They must have a supplier operating at 1% above spot. He's the guy I need to find to build my position.
I asked the dealer how much he would pay me for the coin I just bought from him. He hemmed and hawed and said 3% below spot. That's in a falling market, I suspect in a bull trend he'll try to move the % higher, while reducing his premiums on sales. I have to find a source selling closer to spot..... At the moment, Kitco has higher gold premiums than my local dealer. How do I get to the next level as a small player?
St. Phatty
Active member
it's a matter of finding the right dealer.
sort of like with Cannabis
https://www.jandm.com/systemhome.htm
I haven't dealt with them for about 9 years but they have always been reliable in the past. They're in Vancouver and had no problem shipping across the border.
There are laws about that. I always bought Maples which I think they're allowed to export.
Since you're in Canada, should be even easier.
Also, the spread/premium normally decreases after a weak or 2, when one of these waterfall price declines occurs.
A Jellystone dealer in PMs wrote this yesterday (I think his kid is under 30):
https://www.investorvillage.com/smbd.asp?mb=4245&mn=1132041&pt=msg&mid=20413579
I look at it this way. Cash is valuable right now, witness how little cash it takes to buy an ounce of refined silver - on paper. They will fight it as hard as they can, but it is looking like the massive credit bubble has popped. The Russia/Saudi oil war is having a big impact on US commercial paper. The fracking patch dies under $50 oil, taking a bunch of banks with it. That is why Trump said he would buy the supply and store it in the ground (SPR). Deutsche Bank is dying from all the derivitives they have dealt in,which will take out the euro.
Yeah, cash. I am gonna order more when I pick up this batch. At least I won't have to think of wiping my azz with it. Deflation / inflation. What a struggle. We'll see what a pack of top shelf is costing, this fall.
https://www.investorvillage.com/smbd.asp?mb=4245&mn=1132041&pt=msg&mid=20413579
I look at it this way. Cash is valuable right now, witness how little cash it takes to buy an ounce of refined silver - on paper. They will fight it as hard as they can, but it is looking like the massive credit bubble has popped. The Russia/Saudi oil war is having a big impact on US commercial paper. The fracking patch dies under $50 oil, taking a bunch of banks with it. That is why Trump said he would buy the supply and store it in the ground (SPR). Deutsche Bank is dying from all the derivitives they have dealt in,which will take out the euro.
Yeah, cash. I am gonna order more when I pick up this batch. At least I won't have to think of wiping my azz with it. Deflation / inflation. What a struggle. We'll see what a pack of top shelf is costing, this fall.
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I added a few more oz's of gold this week. The margins went up today to C$140/oz. Silver is even worse, it's 45% over spot. Future deliveries put off till June 12 on paid gold orders. I'm not comfortable prepaying 2 months in advance as counterparty risk is what I'm trying to avoid. So, I'll add a few ozs a week as immediate delivery. I'm 10% to my desired allocation and wondering if I'll even get close to my position due to timing and supply. I use my debit card for purchase so I'm limited to daily, weekly and monthly limits. Physical supply is very tight.
It seems bullish to me as the US$ is peaking in value and gold has only shown a modest decline relative to the stock market and the oil price. I'm going to try and exercise some self restraint and not rush my accumulation in case we see more weakness in gold over the near to mid term time frame.
It seems bullish to me as the US$ is peaking in value and gold has only shown a modest decline relative to the stock market and the oil price. I'm going to try and exercise some self restraint and not rush my accumulation in case we see more weakness in gold over the near to mid term time frame.
Having the world's reserve currency has been a nice privilege. How long will it last with the Saudis in trouble and China/Russia wanting the dollah hegemony over with? Both have stockpiled gold. This chart also suggests it doesn't matter that gold is 1300, or 1600 - in the long run, IF you are buying it for insurance.
I was looking at these 10 year chart comparing the relative purchasing power of world currencies. Russia has very little debt, an educated stable population, yet can't catch a break. The only products they make well, the AK-47 and their AA missiles, are no the US no-buy list. No exports for them. They make nice planes too. Cars, not so much.
Anyways, check out how stable the dollah has been compared... click the countries on this link:
https://www.kitco.com/gold_currency/index.html?currency=rub&timePeriod=10y&flag=gold&otherChart=no
I was looking at these 10 year chart comparing the relative purchasing power of world currencies. Russia has very little debt, an educated stable population, yet can't catch a break. The only products they make well, the AK-47 and their AA missiles, are no the US no-buy list. No exports for them. They make nice planes too. Cars, not so much.
Anyways, check out how stable the dollah has been compared... click the countries on this link:
https://www.kitco.com/gold_currency/index.html?currency=rub&timePeriod=10y&flag=gold&otherChart=no
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Medfinder
Chemon 91
US Cash Crisis: Withdrawal Limits Spark Bank Run Fear
NEWS
Mar 21, 2020
US Cash Crisis: Withdrawal Limits Spark Bank Run Fear
The entire world has been focused on the economy as the coronavirus outbreak has devastated global markets. While stocks, commodities, and barrels of oil plunge in value, there’s been considerable demand for cold hard cash in certain countries. According to reports, Wall Street’s elite has been trying to withdraw $30-50K per person as they flee the Hamptons. Moreover, various individuals across the U.S. are claiming financial institutions like Chase and Bank of America are restricting cash withdrawal amounts.
Grocery store has a $25 limit on cash back.
The FDIC does not have much money. Banks only keep 10% of all their deposits, and invest the rest or loan it out. Every $1000 you withdraw, is $900 they can't loan out. Loans are gonna distress.
I won't bet getting any check because I took my 401K money out, and that will be shown as income. I was gonna give my check money to a family I know. Or another. I helped both of them stock for this, cause I like their kids.
So after typing all that I thought I would go to the local branch and grab a stack of 20's from the ATM. This was during Sat open hours, but the office was closed for wuflu containment. Only the ATM/teller lines open, and there were 7 cars in each line.
Wait until the checks get deposited and people want cash.
We will see next week. I have never seen any of this, and it is unfolding fast. Buffet called derivitives "weapons of financial mass destruction". They were the problem in 2008, and the scale is far larger now. The world is broke, and the supply of the reserve currency is as scarce as TP. Many debts globally are denominated in dollars.
The FDIC does not have much money. Banks only keep 10% of all their deposits, and invest the rest or loan it out. Every $1000 you withdraw, is $900 they can't loan out. Loans are gonna distress.
I won't bet getting any check because I took my 401K money out, and that will be shown as income. I was gonna give my check money to a family I know. Or another. I helped both of them stock for this, cause I like their kids.
So after typing all that I thought I would go to the local branch and grab a stack of 20's from the ATM. This was during Sat open hours, but the office was closed for wuflu containment. Only the ATM/teller lines open, and there were 7 cars in each line.
Wait until the checks get deposited and people want cash.
We will see next week. I have never seen any of this, and it is unfolding fast. Buffet called derivitives "weapons of financial mass destruction". They were the problem in 2008, and the scale is far larger now. The world is broke, and the supply of the reserve currency is as scarce as TP. Many debts globally are denominated in dollars.
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St. Phatty
Active member
Let's Print Some !
Perhaps I could help out with the watermark paper.
of course the intaglio printing, raised ink, & special effects require some engineering.
i hear there's a lot of unemployed Chinese right now.
Given their past history of counterfeiting gold & silver bars - and currency - and their skill at manufacturing - anything the US gov. can produce, China can copy.
Green Squall
Well-known member
My local coin shop was completely out of everything and so were the major online dealers by the time I looked, but I did manage to purchase 14 oz of silver from two different websites on leads from r/silverbugs on Reddit. I'm not a big investor by any means, but I've ceased looking at my Acorns account lol.
10 oz silver bar - $150.30
4 oz silver starter kit - $56.77
Total - $207.97
10 oz silver bar - $150.30
4 oz silver starter kit - $56.77
Total - $207.97
Gold rose dramatically today especially relative to the stock markets. I've halted my acquisitions for now. I'm hoping that the bullion banks try to drive the price down before options expiration day (Friday). Also hoping I can get physical gold from the dealer if the price drops. Premium today is spot + $165C and silver is 55% over spot. I won't chase the POG, time is on my side...
Gold dropped today as I expected. The local CS raised it's premium to $220C above spot. My local bank sold me an ounce today for spot + $145C. I have to wait 5 days for delivery and it's a bar, not a coin but they accepted my credit card so I'll also get air miles, lol. I expect gold to pull back more before the end of trading on Friday. I won't add anymore this week unless it drops another $50US.
US$$$ are king for sure but right now, where I live, no retailers are accepting cash because of the wuflu. I suspect this will be the case for the next few weeks/months. I'm sure the black market is still mostly cash though. The nice thing about holding cash is that there is no counter party risk except for the possibility of the US govy defaulting or going digital like India did a couple of years ago.
Me, I'm an older guy trying to protect his retirement stash. Fortunately I got my savings out of the stock market just before the crash in early March. I didn't have the balls to play the bounce, I've lost my share of $$$ in the markets over the last 30 years. I'm not a good trader. My biggest problem is my money is sitting in a savings acct making nothing and it's in C$. The C$ lost 6% against the $US in March.
To compound my problems, I'm diversifying into gold, paying a hefty premium for it and looking at a further haircut when I sell it. Over the last 15 years gold has returned 10.3% annualized so if it continues as such I should reap a decent return over the next 10 years. I'm also thinking of a lakefront property in BC if the real estate market plummets in the upcoming recession. Life was so simple when I was young, as I get to the end of my working years it's turning into a crap shoot.
St. Phatty
Active member
This is not a good time to buy phys. gold, soaring demand & shut-down mines.
The dealers have not increased what they pay to sellers.
One option is to buy direct from phys. gold holders. They will get a better price, you will get a better price.
if you do that you should bring a real good scale and maybe some calipers, to make sure it's real.
I've accumulated 22 oz's to date. Average purchase price about $2450CDN which is about where spot is now. I've ceased buying physical for now and have been day trading a few mining stocks this week for good profit. Typically buy the open and sell within an hour for a quick 2 - 3% profit. This kind of strategy works until it doesn't. Every day this week it's worked and I suspect it'll work again tomorrow. So far this week I'm up 10%.
Of course, a correction is coming and timing is everything. That's why I go to cash as quickly as possible and leave significant upside on the table. All of the top tier miners were averaging 4 - 6% every day this week. I'm hoping for gold to correct so I can start adding more physical and bring the miners back down. Wash, rinse, repeat...
I'll give the miners one more day but I'll place a 2% trailing stop after open to lock in profits for the week. Happy trading
Of course, a correction is coming and timing is everything. That's why I go to cash as quickly as possible and leave significant upside on the table. All of the top tier miners were averaging 4 - 6% every day this week. I'm hoping for gold to correct so I can start adding more physical and bring the miners back down. Wash, rinse, repeat...
I'll give the miners one more day but I'll place a 2% trailing stop after open to lock in profits for the week. Happy trading
Bitcoin is going Up and that Stock RIOT went along with it.
2021 Could be interesting and watching metals.
Been away for the whole year since moving around and finally settled.
Not really sure whats a good vaccine stock since its " Buy the Rumor,Sell the news " And don't want to get trapped.
2021 Could be interesting and watching metals.
Been away for the whole year since moving around and finally settled.
Not really sure whats a good vaccine stock since its " Buy the Rumor,Sell the news " And don't want to get trapped.
St. Phatty
Active member
Bitcoin is going Up and that Stock RIOT went along with it.
2021 Could be interesting and watching metals.
Been away for the whole year since moving around and finally settled.
Not really sure whats a good vaccine stock since its " Buy the Rumor,Sell the news " And don't want to get trapped.
with the precious metals the Miners are supposed to give the investor more exposure to the metal price.
i.e. Silver goes up 5%, the Silver miners go up 10%.
Does the same thing apply with the Bitcoin miners ?
though i'm not sure if any publicly held company is selling Bitcoin mining set-ups that also protect the investor from the cost of Electricity.
I looked into a deeper report and found some causes of the rising bitcoins..."?There are currently zero S&P 500 companies that hold bitcoin on their balance sheet. Square, which could be considered for S&P500 inclusion next year, purchased $50M worth of bitcoin in October."
"Out of the 106 participants in the survey, 51.4% said between five and nine S&P 500 companies will have bitcoin on their balance sheets by the end of 2021. About 16% were more optimistic, saying 10 or more companies will hold bitcoin."
Roughly a third, or 29.7%, said one to four of such companies will hold bitcoin, and only 2.7% said one or fewer companies will hold bitcoin.
So..this looks good for bitcoins are the far side.A few coins here and there and it all adds up
Looking into Short term trades... Remark Holdings Inc $1.99
NASDAQ: MARK
I Sort of picked this because of the 50-200 days crossing.Lets see if this works.
"Out of the 106 participants in the survey, 51.4% said between five and nine S&P 500 companies will have bitcoin on their balance sheets by the end of 2021. About 16% were more optimistic, saying 10 or more companies will hold bitcoin."
Roughly a third, or 29.7%, said one to four of such companies will hold bitcoin, and only 2.7% said one or fewer companies will hold bitcoin.
So..this looks good for bitcoins are the far side.A few coins here and there and it all adds up
Looking into Short term trades... Remark Holdings Inc $1.99
NASDAQ: MARK
I Sort of picked this because of the 50-200 days crossing.Lets see if this works.
BTC/USD
31,830.0 +2761.0
Holy Shitballs !...this thing took off...BitCoin becoming something!
RIOT On Monday might look good 
I think its going to be a busy week out here in the Good 'Ole USA
It's Saturday Afternoon ..Happy New Year
31,830.0 +2761.0
Holy Shitballs !...this thing took off...BitCoin becoming something!
RIOT On Monday might look good
I think its going to be a busy week out here in the Good 'Ole USA
It's Saturday Afternoon ..Happy New Year
