What about SILVER????
Better check out the Financial Forum here...........
Dawoofdaddy has been touting the stock SSRI for months and months......and all it does is go UP and UP!
Up 6% on the day alone!!!!
Silver reserves are at their lowest in 50 years due in part to silvers demand in China and India.
Will SSRI hit $40 a share before years end........I wouldn't bet against it.........or Dawoofdaddy.
-FH-
Better check out the Financial Forum here...........
Dawoofdaddy has been touting the stock SSRI for months and months......and all it does is go UP and UP!
Up 6% on the day alone!!!!
Silver reserves are at their lowest in 50 years due in part to silvers demand in China and India.
Will SSRI hit $40 a share before years end........I wouldn't bet against it.........or Dawoofdaddy.
-FH-
you posted about gold not being used for much anymore...did you pay attention to your graph??? Gold is hotter than ever since Jan 05. It doubled in a year!!!Doug said:A lot of metals have gone up a lot. Useful construction stuff like copper, nickel, steel to build skyscrapers in Asia.
Silver and gold aren't used for that much anymore, silver was used in photography, really peaked around 1980.
It's used in jewelry and some electronics and for hoarding.It used to used as a coinage metal, but not really anymore, just artificial buillion coins that stay in banks. You'd wire your house with it over copper if the price were the same as it conducts electricity better, but copper will do. You probably wire your space shuttle with gold.
Prices go up when people hoard, look at silver circa 1980. I'm not saying it can't go way up, just that gold isn't terribly useful.
Prices go up when people hoard, look at silver circa 1980. I'm not saying it can't go way up, just that gold isn't terribly useful.
I have buying gold every 2 weeks for the last 3 years. Take my advice, Buy from Apmex.com.. Forget about kitco, bullion direct and the others.
You will not find a better deal on gold bullion (and coins). With a little searching you can get better buys then ebay and you know these guys are as solid as they come. Great prices on eagles as well (and remember when you sell gold eagles they are tax exempt).
Here is a comparison to show you the savings:
A 10 oz pamp sold on Ebay today:
http://cgi.ebay.com/Huge-Pamp-Suisse-10-oz-9999-Pure-Gold-Bullion-Bar_W0QQitemZ300071377563QQihZ020QQcategoryZ39484QQrdZ1QQcmdZViewItem
You can get the SAME EXACT bar on Apmex right now for $310 less. Another great thing about apmex is that if you pay by check or money order you only pay $19.95 shipping/ins. You would pay 3x that from kitco and the rest.
Also, check out their "wholesale" page on the website. Last week they had 1997 pcgs silver eagle "first strike" on special for only $17 each. I bought 300 and should be able to sell them easy at $25 per on ebay. Should clear $6 profit on each one.
Again, if you are serious about buying quality bullion and coins at the best price you will not find better then apmex(and no i do not work for them,lol)
If you want a good "bullion" coin from them also look at Austria/ Hungary 100 Coronas. They have great prices on those and well below ebay. Also, the 1 oz bars
Hope that helps. If you have any other questions feel free to ask.
Btw, Imo gold will surpass $750 this year.
I would disagree with doug's advice to buy from a local dealer. I spend about $2500 a month on gold (and some silver) and would NEVER buy from coin shop. You will pay a minimum (if your lucky) of 10% over spot from those bloodsuckers. Think of Apmex like walmart compared to the coin dealers assaks. Why pay more for the same item.
You will not find a better deal on gold bullion (and coins). With a little searching you can get better buys then ebay and you know these guys are as solid as they come. Great prices on eagles as well (and remember when you sell gold eagles they are tax exempt).
Here is a comparison to show you the savings:
A 10 oz pamp sold on Ebay today:
http://cgi.ebay.com/Huge-Pamp-Suisse-10-oz-9999-Pure-Gold-Bullion-Bar_W0QQitemZ300071377563QQihZ020QQcategoryZ39484QQrdZ1QQcmdZViewItem
You can get the SAME EXACT bar on Apmex right now for $310 less. Another great thing about apmex is that if you pay by check or money order you only pay $19.95 shipping/ins. You would pay 3x that from kitco and the rest.
Also, check out their "wholesale" page on the website. Last week they had 1997 pcgs silver eagle "first strike" on special for only $17 each. I bought 300 and should be able to sell them easy at $25 per on ebay. Should clear $6 profit on each one.
Again, if you are serious about buying quality bullion and coins at the best price you will not find better then apmex(and no i do not work for them,lol)
If you want a good "bullion" coin from them also look at Austria/ Hungary 100 Coronas. They have great prices on those and well below ebay. Also, the 1 oz bars
Hope that helps. If you have any other questions feel free to ask.
Btw, Imo gold will surpass $750 this year.
I would disagree with doug's advice to buy from a local dealer. I spend about $2500 a month on gold (and some silver) and would NEVER buy from coin shop. You will pay a minimum (if your lucky) of 10% over spot from those bloodsuckers. Think of Apmex like walmart compared to the coin dealers assaks. Why pay more for the same item.
When I was into coins the internet didn't exist, so I could see straight buillion being better on the net.
A good dealer that you know might also work with you. You are correct that I'm not up to date with modern methods of trading buillion. I'd still prefer certain real coin items that I know are quite scarce and trade nearly as buillion like liberty head $2.50 gold pieces that are over 100 years old and high grade.
A good dealer that you know might also work with you. You are correct that I'm not up to date with modern methods of trading buillion. I'd still prefer certain real coin items that I know are quite scarce and trade nearly as buillion like liberty head $2.50 gold pieces that are over 100 years old and high grade.
Buying gold and/or silver is a great idea for everyone at this forum.
Both are going much higher during the next several years.
Not only are both going up in price...its the best way to vote vs the war and also a vote vs the big govt machine that insists upon taking away our rights and stealing from us via printing money backed by nothing other than empty promises.
:aktion033
Both are going much higher during the next several years.
Not only are both going up in price...its the best way to vote vs the war and also a vote vs the big govt machine that insists upon taking away our rights and stealing from us via printing money backed by nothing other than empty promises.
:aktion033
What might be even better is hoarding copper in the form of the 5 cent coin we call a nickel. It's made of 75% copper and 25% nickel, and has potential to become worth much more than it's 5 cent face value, like the silver coins from 1964 and earlier ( 10-25-50 cents, and $1).
I'd have to check but I think it has very close to 5 cents worth of metal in it now, and it always will have its face value.
So go to your banks everybody and buy rolls and bags and boxes of nickels. Pretty soon every RX'er will have a basement full of nickels, there will be a coin shortage, the mint will need more metal furthur increasing demand ( and price).
The mint already has to make a billion of them a year, let's give those mint guys OT, and make Uncle O'sama lose more money coining nickels.
Forget the "pennies" those are made of zinc, but that's going up too, so yeah fill the garage with those while we're at it, leave the Toyota outside.
Copper baby, more useful, no risk !
Copper (IPA: /ˈkɒpə/) is a chemical element in the periodic table that has the symbol Cu (Latin: cuprum) and atomic number 29. It is a ductile metal with excellent electrical conductivity, and finds extensive use as an electrical conductor, thermal conductor, as a building material, and as a component of various alloys.
Copper is an essential nutrient to all higher plants and animals. In animals, it is found primarily in the bloodstream, as a cofactor in various enzymes, and in copper-based pigments. In sufficient amounts, copper can be poisonous or even fatal to organisms.
Copper has played a significant part in the history of mankind, which has used the easily accessible uncompounded metal for nearly 10,000 years. Civilizations in places like Iraq, China, Egypt, Greece and the Sumerian cities all have early evidence of using copper, and Britain and the United States also have extensive histories of copper use and mining. During the Roman Empire, copper was principally mined on Cyprus, hence the origin of the name of the metal as Cyprium, "metal of Cyprus", later shortened to Cuprum. A number of countries, such as Chile and the United States, still have sizeable reserves of the metal which are extracted through large open mines. Nevertheless, the price of copper rose rapidly—quintupling from a 60-year low in 1999—largely due to increased demand. This metal has come in to limelight on account of high volatility in prices.
<TABLE class=toc id=toc summary=Contents><TBODY><TR><TD>Contents
[hide]
I'd have to check but I think it has very close to 5 cents worth of metal in it now, and it always will have its face value.
So go to your banks everybody and buy rolls and bags and boxes of nickels. Pretty soon every RX'er will have a basement full of nickels, there will be a coin shortage, the mint will need more metal furthur increasing demand ( and price).
The mint already has to make a billion of them a year, let's give those mint guys OT, and make Uncle O'sama lose more money coining nickels.
Forget the "pennies" those are made of zinc, but that's going up too, so yeah fill the garage with those while we're at it, leave the Toyota outside.
Copper baby, more useful, no risk !
Copper (IPA: /ˈkɒpə/) is a chemical element in the periodic table that has the symbol Cu (Latin: cuprum) and atomic number 29. It is a ductile metal with excellent electrical conductivity, and finds extensive use as an electrical conductor, thermal conductor, as a building material, and as a component of various alloys.
Copper is an essential nutrient to all higher plants and animals. In animals, it is found primarily in the bloodstream, as a cofactor in various enzymes, and in copper-based pigments. In sufficient amounts, copper can be poisonous or even fatal to organisms.
Copper has played a significant part in the history of mankind, which has used the easily accessible uncompounded metal for nearly 10,000 years. Civilizations in places like Iraq, China, Egypt, Greece and the Sumerian cities all have early evidence of using copper, and Britain and the United States also have extensive histories of copper use and mining. During the Roman Empire, copper was principally mined on Cyprus, hence the origin of the name of the metal as Cyprium, "metal of Cyprus", later shortened to Cuprum. A number of countries, such as Chile and the United States, still have sizeable reserves of the metal which are extracted through large open mines. Nevertheless, the price of copper rose rapidly—quintupling from a 60-year low in 1999—largely due to increased demand. This metal has come in to limelight on account of high volatility in prices.
<TABLE class=toc id=toc summary=Contents><TBODY><TR><TD>Contents
[hide]
- <LI class=toclevel-1>1 Notable characteristics <LI class=toclevel-1>2 Applications <LI class=toclevel-1>3 History <LI class=toclevel-1>4 Copper mining in Britain and the United States
- <LI class=toclevel-2>4.1 British Isles
- 4.2 United States
- <LI class=toclevel-2>5.1 Toxicity
- 5.2 Miscellaneous hazards
- 11 External links
I thought i would paste this in here. Doug, Dawoof and others may get a kick out of this. I first heard about this last year as a friend of mine was doing exactly whats described below(and making good money).
Rising Metal Prices Prompt Ban on Melting and Export of Coins </NYT_HEADLINE><SCRIPT language=JavaScript type=text/JavaScript>function getSharePasskey() { return 'ex=157680000&en=111f84401f987bbc&ei=5124';}</SCRIPT><SCRIPT language=JavaScript type=text/JavaScript>function getShareURL() { return encodeURIComponent('http://www.nytimes.com/2006/12/14/business/14pennies.html');}function getShareHeadline() { return encodeURIComponent('Rising Metal Prices Prompt Ban on Melting and Export of Coins');}function getShareDescription() { return encodeURIComponent('The United States Mint has banned melting or exporting pennies and nickels over concern about rising metal prices.');}function getShareKeywords() { return encodeURIComponent('Currency,Metals and Minerals,United States Mint');}function getShareSection() { return encodeURIComponent('business');}function getShareSectionDisplay() { return encodeURIComponent('');}function getShareByline() { return encodeURIComponent('By MATTHEW HEALEY');}function getSharePubdate() { return encodeURIComponent('December 14, 2006');}</SCRIPT>
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</TD></TR></TBODY></TABLE>
<NYT_BYLINE type=" " version="1.0">By MATTHEW HEALEY
</NYT_BYLINE>Published: December 14, 2006
<NYT_TEXT>The United States Mint, concerned that rising metal prices could lead to widespread recycling of pennies and nickels, has banned melting or exporting them.
The Mint is also testing dozens of cheaper alternative metal compositions in the expectation that Congress will mandate a change when it meets in the new year.
According to calculations by the Mint, the metal value of pennies, which are made of copper-coated zinc, is now more than one cent. The metal value of 5-cent coins, made from a copper-nickel blend, is up to 7 cents. Adding in the costs of manufacturing means the Mint now spends 1.73 cents for every penny and 8.74 cents for every nickel it makes.
Until 1982, pennies were made of 95 percent copper. The commodity metal value of one of those coins, which still make up a large percentage of the pennies in circulation, is 2.13 cents, according to the Mint.
If even 1 percent of the 150 billion pennies and 20 billion nickels in circulation were claimed for salvage, replacing them would cost taxpayers $43 million, the Mint estimates.
In an interview yesterday, Edmund C. Moy, director of the Mint, said officials were aware of only a few people asking if it was legal to melt coins for their metal value. Without the ban, which takes effect tomorrow, it would be.
The new ban also forbids exporting pennies or nickels in any significant quantities. While the Mint is not concerned about tourists’ pocket change or numismatic collections, it wants to block wholesale export of coins to countries where recycling them for their metal content could be economically viable.
Penalties for violating the ban can include a $10,000 fine and up to five years in jail. “We want to make it clear to anyone considering this that it’s not worth it,” Mr. Moy said
Rising Metal Prices Prompt Ban on Melting and Export of Coins </NYT_HEADLINE><SCRIPT language=JavaScript type=text/JavaScript>function getSharePasskey() { return 'ex=157680000&en=111f84401f987bbc&ei=5124';}</SCRIPT><SCRIPT language=JavaScript type=text/JavaScript>function getShareURL() { return encodeURIComponent('http://www.nytimes.com/2006/12/14/business/14pennies.html');}function getShareHeadline() { return encodeURIComponent('Rising Metal Prices Prompt Ban on Melting and Export of Coins');}function getShareDescription() { return encodeURIComponent('The United States Mint has banned melting or exporting pennies and nickels over concern about rising metal prices.');}function getShareKeywords() { return encodeURIComponent('Currency,Metals and Minerals,United States Mint');}function getShareSection() { return encodeURIComponent('business');}function getShareSectionDisplay() { return encodeURIComponent('');}function getShareByline() { return encodeURIComponent('By MATTHEW HEALEY');}function getSharePubdate() { return encodeURIComponent('December 14, 2006');}</SCRIPT>
<SCRIPT language=javascript> <!-- function submitCCCForm(){ PopUp = window.open('', '_Icon','location=no,toolbar=no,status=no,width=650,height=550,scrollbars=yes,resizable=yes'); this.document.cccform.submit(); } // --> </SCRIPT><FORM name=cccform action=https://s100.copyright.com/CommonApp/LoadingApplication.jsp target=_Icon><INPUT type=hidden value="Rising Metal Prices Prompt Ban on Melting and Export of Coins" name=Title><INPUT type=hidden value="By MATTHEW HEALEY" name=Author><INPUT type=hidden value=http://www.nytimes.com/2006/12/14/business/14pennies.html name=ContentID><INPUT type=hidden value=default name=FormatType><INPUT type=hidden value="DEC 14 2006" name=PublicationDate><INPUT type=hidden value="The New York Times" name=PublisherName><INPUT type=hidden value=nytimes.com name=Publication></FORM>
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<NYT_BYLINE type=" " version="1.0">By MATTHEW HEALEY
</NYT_BYLINE>Published: December 14, 2006
<NYT_TEXT>The United States Mint, concerned that rising metal prices could lead to widespread recycling of pennies and nickels, has banned melting or exporting them.
The Mint is also testing dozens of cheaper alternative metal compositions in the expectation that Congress will mandate a change when it meets in the new year.
According to calculations by the Mint, the metal value of pennies, which are made of copper-coated zinc, is now more than one cent. The metal value of 5-cent coins, made from a copper-nickel blend, is up to 7 cents. Adding in the costs of manufacturing means the Mint now spends 1.73 cents for every penny and 8.74 cents for every nickel it makes.
Until 1982, pennies were made of 95 percent copper. The commodity metal value of one of those coins, which still make up a large percentage of the pennies in circulation, is 2.13 cents, according to the Mint.
If even 1 percent of the 150 billion pennies and 20 billion nickels in circulation were claimed for salvage, replacing them would cost taxpayers $43 million, the Mint estimates.
In an interview yesterday, Edmund C. Moy, director of the Mint, said officials were aware of only a few people asking if it was legal to melt coins for their metal value. Without the ban, which takes effect tomorrow, it would be.
The new ban also forbids exporting pennies or nickels in any significant quantities. While the Mint is not concerned about tourists’ pocket change or numismatic collections, it wants to block wholesale export of coins to countries where recycling them for their metal content could be economically viable.
Penalties for violating the ban can include a $10,000 fine and up to five years in jail. “We want to make it clear to anyone considering this that it’s not worth it,” Mr. Moy said
DAWOOFDADDY said:
Just wait until the war with Iran starts and also when gold finally uncouples itself from the usd.
Add to that the powers that be have held gold down as much as they can i think. Just the fact that it broke $640 today and finally held is important. If it can get past $650 by weeks end (and can hold with those c-suckers in NY trying to take it down every morning) i think its a quick ride to $700. Where it goes from there is anyone's guess.
Coins have always been melted whenever they become worth more as metal than money. The earliest US gold coins are extremely scarce as most were exported to Europe and melted. few survive. I'm talking about coins from the 1790's and very early 1800's.
Huge quantities of silver coins were melted around 1980, when silver neared $50 an ounce.
I didn't know they made a law against melting now. It would seem hard to enforce. Either way if the price of these basic metals continues to rise the coins will disappear. Even dimes and quarters are in danger, but still worth more as money than metal.
Huge quantities of silver coins were melted around 1980, when silver neared $50 an ounce.
I didn't know they made a law against melting now. It would seem hard to enforce. Either way if the price of these basic metals continues to rise the coins will disappear. Even dimes and quarters are in danger, but still worth more as money than metal.
One last thing.. Doug, Being that you are a coin fan (like me) what do you think about this baby? This is my favorite coin (even though i don't have one,lol)
I wouldn't mind having a stack of 20 of these though!Some day!!!(yeah right)
http://www.ecoinprices.com/images/1907-20-dol-gold-high-relief-pcgs-ms64.jpg
I wouldn't mind having a stack of 20 of these though!Some day!!!(yeah right)
neverbeanother#7 said:
uncouples itself from the dollar ? The gov't assigned a price of $35/ oz for decades but gold became legal when Nixon was president, and the price became market price.
Gold was over $700 around the same time silver was $50.
I like the base metals personally, but they don't store easily, still a garage full of nickels is a lot of $$$.
neverbeanother#7 said:One last thing.. Doug, Being that you are a coin fan (like me) what do you think about this baby? This is my favorite coin (even though i don't have one,lol)
I wouldn't mind having a stack of 20 of these though!Some day!!!(yeah right)
They don't stack being high relief, like the 1921 Peace dollars. I guess they stack OK if slabbed.
Whatever happenned with the 10 or so 1933 double eagles uncle Osama confiscated from a collector a few years ago ?
The one they call legal sold for over 8 million.
Gold has nothing to do with the value of money. Moneys only value is the work that has been done to make it worth something. Without people working the money becomes worthless. That's why gamblers are looked at like they are. Because they are not working for their money and it lowers the value of the money. That's why imigrants are important to the rich because they increase the value of money.
Even the richest person on earth has nothing if no one is working. His money becomes worthless. Gold is just a material object and a valuable metal that aliens come here for. We are nothing more than gold miners for the aliens anyway.
Even the richest person on earth has nothing if no one is working. His money becomes worthless. Gold is just a material object and a valuable metal that aliens come here for. We are nothing more than gold miners for the aliens anyway.
