So if the world is gonna crash, do we sell or buy, what if the economy fails and we revert to trading an ounce of silver for a loaf of bread?
Masks and Hand sanitizer are already outrageous on Amazon, canned goods etc.
Thoughts of what happens in the next few months? any predictions?
Be careful with Palladium. Its price action is heavily influenced by speculation it will be used a lot for electric car batteries.
Silver and platinum are also more dependent on industrial use. That gold dropped that much I find strange. It looks like interest rates are going further south and especially with negative rates gold is a pretty good alternative to cash.
India and China hoard massive amounts of gold and a pandemic can set free a big amount of it, maybe someone expects a lot of new supply
/conspiracy theory
yes - the big spike down was a giant sell off by "someone" who needed alot of cash suddenly.
the converting to fast cash is what the gold is for, after all.
keep watching.
Jamais l'or n'a perdu la plus petite occasion de se montrer stupide. -Balzac
If its cheap now, its a good time to buy. If its expensive now, its a good time to sell. I thought its a good time to sell now is it not? Only silly people buy now.
Be kind to people. Sharing is Caring. Collect what you like and not by the Crowd.
To seek for perfection, it is too painful and there is a very high price to pay. To seek for something comfortable is more easy. To seek for nothing is even more easy.
Quote: "jimpop"Buy cheap silver coins. If the world ends you wont be able to regret your purchases so don't worry!
PS this is more than likely going to be like SARS, Ebola and swine flu etc - hysteria caused by the media
If you look at the big picture, it's not so bad.
One day in the future there will be another viral outbreak and we will be saying "This will be like SARS, Ebola, Swine Flue and Coronavirus".
Hong Kong (where I live in) was one of the first places to have a coronavirus outbreak, so the people here travelled all over the world in places like Japan and Italy to hoard supplies like masks. Now that those countries have coronavirus outbreaks themselves, they have no supplies
Wash your loose coins before handling them. Don't touch your face while handling coins. Wash your hands after handling any coins. You will reduce your chances of getting any communicable disease.
My wife is in China now looking after her mother so do not swap with me for at least two weeks after my wife comes home.
Right now I am not even sure she will be able to get back. Most international flights are not going. She is registered with government so Canada knows where she is. She is not in Wuhan but all of China is locked down. City buses have started to run again so the authorities think things are bit better.
Quote: "ThePoet"Wash your loose coins before handling them. Don't touch your face while handling coins. Wash your hands after handling any coins. You will reduce your chances of getting any communicable disease.
My wife is in China now looking after her mother so do not swap with me for at least two weeks after my wife comes home.
Right now I am not even sure she will be able to get back. Most international flights are not going. She is registered with government so Canada knows where she is. She is not in Wuhan but all of China is locked down. City buses have started to run again so the authorities think things are bit better.
Gold rice was only a short drop its really high again, silver recovered a little and Platinum and Palladium are still quite low.
If you like coins, medals and tokens with ship motives follow my new instagram account with regular updates @numisnautiker
From time to time I sell some coins on Ebay make sure to follow me @apuking on Ebay.
Quote: "ThePoet"Wash your loose coins before handling them. Don't touch your face while handling coins. Wash your hands after handling any coins. You will reduce your chances of getting any communicable disease.
My wife is in China now looking after her mother so do not swap with me for at least two weeks after my wife comes home.
Right now I am not even sure she will be able to get back. Most international flights are not going. She is registered with government so Canada knows where she is. She is not in Wuhan but all of China is locked down. City buses have started to run again so the authorities think things are bit better.
Speaking of loose coins, recently I've seen an abnormally large amount of old/commemorative coins circulating. Hong Kong only has one type of commemorative coins, so seeing them in change is really rare. I don't know what leads to people using coins instead of notes during these special times - maybe it really is a coincidence.
My best guess, which will in all likelihood be proven entirely incorrect as events unfold -
Short term drop as liquid funds are needed to cover immediate commitments. To be followed by a return to the traditional role of precious metal as a haven during turbulence in the stock market. Longer term, as the Chinese and to a lesser extent Indian economies contract it will dampen the effect of increased demand elsewhere.
Why will the Chinese and Indian markets suffer you ask? "The Supply Chain" is the simple answer. India has already stopped exporting items they quite rightly feel should be meeting the needs of their own population. Over 90% of our supply of antibiotics depend on Chinese sources and it's the same story for just about every medical product we use. A prominent legislator was urging for this to be used as a bargaining lever in the recent trade war with the US. Even the most short sighted politician ought to be able to see the danger in allowing our major competitors on the world stage to control our access to life's essentials. They need to be made by Americans in American factories even if it's not the cheapest solution. I'd rather pay an extra $5 for a prescription than watch children die from infected insect bites.
Of course such action would need politicians who care about something more than their next re-election and corporations who can see further than the bottom line. So don't count on it.
My final, and bravest thought..... as we reach the end of "flu season" in early May the Coronavirus will fade away into the memory hole along with Bird Flu and Ebola and we can go back to worrying about more important things such as gender pronouns and the weather. The DOW will be quickly back to 30k, precious metals will be sitting pretty and all those people who refused to panic will be very, very happy.
Invest in Glocks, 30 round mags and 9mm FMJ.
Non illegitimis carborundum est. Excellent advice for all coins.
Make Numismatics Great Again!
My guess is that over the next few months people will realise that the virus isn't as deadly as the media were hyping it up to be (All fatalities so far have been people with pre-existing health conditions) and then people will be sitting around wondering what they're going to do with the 2,000 rolls of toilet paper they stocked up on during all the panic buying.
Investment in a Toilet Paper Factory will ensure you end up being a millionaire. My dad was a tried and true Yorkshireman and he always said "Aye up lad, there's money to be made in t'shit lad".
Mike
Master Referee - See my profile for what I collect.
Quote: "13coinmike"WOW, what tremendous drops
So if the world is gonna crash, do we sell or buy, what if the economy fails and we revert to trading an ounce of silver for a loaf of bread?
Masks and Hand sanitizer are already outrageous on Amazon, canned goods etc.
Thoughts of what happens in the next few months? any predictions?
Quote: "13coinmike"WOW, what tremendous drops
So if the world is gonna crash, do we sell or buy, what if the economy fails and we revert to trading an ounce of silver for a loaf of bread?
Masks and Hand sanitizer are already outrageous on Amazon, canned goods etc.
Thoughts of what happens in the next few months? any predictions?
Quote: "13coinmike"WOW, what tremendous drops
So if the world is gonna crash, do we sell or buy, what if the economy fails and we revert to trading an ounce of silver for a loaf of bread?
Masks and Hand sanitizer are already outrageous on Amazon, canned goods etc.
Thoughts of what happens in the next few months? any predictions?
Sadly, another HUGE drop in metals today. :(
Why sadly? It's a good time to be buying
Indeed a good time to buy, but I already have an investment in Metals (also stocks) and it is depressing to see my $ drop in value. I do realize however that the market will recover someday, it is just many Silver investors saw $15 for a long time, we finally got up to $18 range and now.....back there again. I see though many Coin houses have frozen premiums for the moment.
Palladium prices came off a lot but that makes sense as the whole rally was fueled by speculation of its use in electric cars' batteries. Platinum remains weak as industrial demand is expected to become much lower.
Silver is a bit of a mix of industrial use and store of value. Hard to tell but do find these price levels attractive. Lower prices will probably cause a decrease in production so my best guess is that we will not see much lower than $14.
Gold is a tough one. This week it looks like everything is sold (including Bitcoin) as leveraged investors are forced to sell to raise cash to cover other failed bets. Bit I also expect quite some money printing to be announced in an effort to support the economy. This could lead to substantially higher gold prices.
Anyway, who knows what the future will bring. As Brizmike correctly said, this situation also provides opportunity. But please stay safe and don't take advantage of others in need.
Quote: "jokinen"Gold is a tough one. This week it looks like everything is sold (including Bitcoin) as leveraged investors are forced to sell to raise cash to cover other failed bets. Bit I also expect quite some money printing to be announced in an effort to support the economy. This could lead to substantially higher gold prices.
Gold has come down a lot over the last week or so, but only because the price has been ridiculously high recently. If you look at the 3 year chart the price over the last few months has been a couple of hundred dollars an ounce more than the average over the last 3 years.
Well, I agree that gold looks expensive, also when you compare it to inflation levels over a longer period of time. I believe some central banks have been buying, and the prospect of extremely low interest rates for many years in most advanced economies is another support for assets considered to be a good store of value (this includes real estate in prime areas).
Actually thinking of buying some more stocks. After all it's a more productive allocation of capital than buying coins :-)
Quote: "Idolenz"https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
I would love to have had money in 2000 or my family buying tons of gold in 1970. One could get some nice gold coins at that time.
I don't know what it would take to get it down to reasonable levels again
I bought a silver coin early in February when Corona was becoming more and more infamous ... half laughing at myself, and half wary that the situation would truly turn into an ‘end of the world’.
Unfortunately I can’t afford any gold - neither several kilograms of serious silver investment.
But I am thinking of buying a couple more silver coins (every little helps, right?) but prices are crazy right now and fluctuating too much. I don’t know if I should or not. Wait a bit more when the situation gets worse? My head is going to explode 🤯😂
Well, I just HAD to buy some Platinum, could not pass up the low price, most places are sold out of a lot of coins, was difficult to find what I wanted.
Will buy gold if it drops to $1300, I have never never seen anything like this, the US and GLOBAL economy will take a long time to recover.
Worst part is our Government has verified you can get re-infected, from the same virus, So now every year not only will humans have to fight the flu, now we get two shots, then 3 shots, then 4, etc. Hard to believe the Medical community can do a heart or lung transplant, but we cant kill a microscopic organism. go figure?
MM
Not that it applies to me, 90% of my silver coins have numismatic value rather than melt.
I love coins. Especially silver, gold and anything really old.
Member of the Royal Numismatic Society of New Zealand and the Auckland Numismatic Society
Quote: "Moneytane"Silver has really dropped.
On March 1 it was $18.19 US an ounce
now its $12.61 after dropping $1.78 in a day.
Time to buy bulk silver.
Not that it applies to me, 90% of my silver coins have numismatic value rather than melt.
Man, from what Im seeing, most outlets are increasing premiums. On March 1 the premium on a 1 ounce American Silver Eagle was about $4 for a price of $22 Eagles,
So now the premium is $8 to$9 equaling $21 Eagles
if you find anyone selling silver $12 or even $14, PLEASE PLEASE LET ME KNOW
Quote: "jokinen"Platinum and silver prices are collapsing right now. Silver at $12 per ounce now!
Good time to buy silver coins or will it drop further
Weight
Total collection weight185.1 kg
Actual silver weight 290 oz $NZD 7126= $4190 US about $14.44 US per oz
this is what numista is saying for my silver, maybe needs updating
My collection has recovered - the 10 Kina coin worth $34 at the peak is back up to $30.31.
Muzz - my silver haul is way below yours - 1.36kg worth NZ$1,035.
Still it will sustain me and many of my silver coins now have numismatic value.
I love coins. Especially silver, gold and anything really old.
Member of the Royal Numismatic Society of New Zealand and the Auckland Numismatic Society
Update October 2024 - American dollars, not Pesos de Nuevo Zelando
Silver is now $33.50 an ounce and has been climbing almost non stop since 2022
Gold is at $2700 an ounce
Palladium - $900 an ounce
Platinum - $1700 an ounce.
I love coins. Especially silver, gold and anything really old.
Member of the Royal Numismatic Society of New Zealand and the Auckland Numismatic Society
