Do not buy gold or silver, buy this instead

Discussion in 'Financial Cents' started by oil pan 4, Jul 13, 2016.


  1. oil pan 4

    oil pan 4 Monkey+++

    I do believe in diversification, how do I get this bit con?
    I will potentially buy any legal legitimate undervalued asset. I could throw a grand or 2 at it if I could double my money in a year or 2.
    Obviously now not a good time to buy it.
     
  2. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    BTC just cracked 5000.00

    Granted it could be 5.00 tomorrow.

    EDIT: 12 hrs later after some profit taking by the market it's down to 4720.

    EDIT: Then 24 hrs later it was down to 4100.

    EDIT: Currently (9/3 1530 EDT) it's at 4575.
    EDIT: 9/10 it's now at 4125.
    EDIT: 9/14 it's at 3200 !!
    EDIT: 9/15 3000.
    9/16 3570.
    9/17 3768.
    10/4 4270.
    10/12 5700.
    11/01 7000!!!!
    11/26 9100 (and if you had BTC before summer you could add another 1900 for splits)
     
    Last edited: Nov 26, 2017
  3. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Ya to risky was low & now it's over 5000, Nuts
     
  4. oil pan 4

    oil pan 4 Monkey+++

    I can take a gamble on bitcon by putting in a thousand or 2,000 USD.
    Just not right now since it's relatively high.
    I need to catch it when it's low.
     
  5. oil pan 4

    oil pan 4 Monkey+++

    Right now don't buy anything, everything is up.
    The only things low are Platinum at just over 1,000 an ounce. After spot fees it's actually hovering around its low normal price. It can easily go up to 1,300 to 1,500 per ounce. When an ounce of platinum (which I paid 960 each for them) gets me at least 1 ounce of gold that will be my think about it trigger, when I think I can get as much gold as possible for my platinum then I will sell. My expectation is platinum will surge as gold dips getting me around 1.5 ounces of gold for each one of platinum. I can live with that, then will wonder why I didn't buy more.

    Rhodium is still in its normal price range even with paying up to $200 an ounce spot fees. Realistically rhodium can easily blow by $2,000 an ounce like it's nothing and just keep on going.
    Gold is approaching about a 1 year high so you don't want to be buying it.
    And silver is getting back up there too. I just really don't like the idea of paying more than a total of $20 an ounce after spot fees and shipping.

    What's going to happen is 1350 is golds glass ceiling. Chances are it's going to hit that glass ceiling and come back down.
    If it breaks through 1350 and closes at that price everyone freaks out and buys more and the price continues to rise.
     
  6. Hanzo

    Hanzo Monkey+++


    Especially valuable if there are water rights. SHTF, clean water could be the most valuable thing.
     
    VisuTrac, Dunerunner and Gator 45/70 like this.
  7. Gator 45/70

    Gator 45/70 Monkey+++

    .....
     
  8. Gator 45/70

    Gator 45/70 Monkey+++

    Thankfully we in Louisiana have very little problems with water rights, We have so much of it, The parish will at times give away 300 water catch drums ( 55 gallons ) first come first serve or you can buy them for $ 32.00
    Checked out the BOL Sunday, Still plenty of standing rain water from Harvey!
     
    Dunerunner likes this.
  9. Kingfish

    Kingfish Self Reliant

    An interesting thread for sure. I read the entire thing. I have no gold but have a lot silver bars and coin. I have no plan to sell any of it as to me? it was bought to trade or use in the event that electronic money was shut down. Credit cards debit cards etc. Here cash is king coin even better. Chainsaw parts, long term gas and 25 year food preps rule my long term plans. Rabbits, chickens and a lake full of fish. Im in a holding pattern watching the world burn.
     
    Cruisin Sloth likes this.
  10. oil pan 4

    oil pan 4 Monkey+++

    APMEX is doing a $20 over spot sale on gold and hitting an 11 month high I'm thinking the price has leveled off.
    I guess I can live with making about $150 an ounce. Time to call apmex and lock it in.
    They are paying up to $50 over spot for pamp lady Fortuna ounces. Last time I sold they were out of lady Fortuna bars and we're paying $100 over spot for them. Last time I didn't have any 1 ounce lady Fortuna bars or I would have been a really happy camper.
    I decided to sell 6 ounces.
    Then when the price goes down I'll chip in a few hundred bucks and by back 7 ounces plus a little. Probably seven 1 ounce suisse bars and some smaller denominations such as a 5g and/or 10g bar to keep very long term.
    (You won't make any money short term buying and selling anything smaller than 20g bars)
    If I do this twice a year, at this level I will be making about as much money as my 401k which has many times this amount of money tied up in it, money which I can't touch for another 30 years.

    Only problem is this has a cap to how big I can go. My self imposed limit will be $10,000 per transaction any more than that and you show up on government radar. Us proletariat aren't allowed to have that much currency. If we do that means we got it illegally or the government hasn't been doing it job to squeeze every last drop from you.

    If silver bid hits over 20 an ounce I say sell. Buy back in at 15 to 18 an ounce delivered.
    End up with 10% to 25% more silver than you started off with. I haven't seen a good opportunity to make big money trading silver for quite a while now because the spot fee percentage usually makes up 15% to 20% of the total bar price on a normal day, where with gold, normally spot fees make up usually 5% or less the cost of the bar.

    Since the spot fees are so high on silver, selling to some one like apmex just doesn't make sense. I'm thinking if the price is kind of high next year around gun show time I rent a space, build a display case and charge my own spot fees. Make that spot fee money back plus some, gun show dealers usually charge up to $5 over spot.

    There is nothing wrong with buying extra chain saw parts. I bought my chain breaker and mender tool along with Oregon links back around 2008. Plus some extra saw parts for my gas and electric saw. This year I'm upgrading to carbide cutter chains. If you want to cut wood around here you pretty much have to use carbide chain.
    That reminds me, I need to get some stihl links too.

    Water is good, if you don't have water then nothing else really matters.

    Edit: I was not able to reach an agreement with the apmex people.
    They don't want it bad enough yet.
    Plus I need to see what rita does to FL.
    A 2017 remake of Hurricane Andrew should drive it even higher.
     
    Last edited: Sep 5, 2017
  11. oil pan 4

    oil pan 4 Monkey+++

    Well saturday I partnered with the local bullion dealer.
    Says at least once or twice a year, almost always after the prices surge and stay high for a little while he gets people wanting to buy real large amounts of gold or silver.
    Problem is that he can't keep a ton of inventory on hand and has a small group of people he will draw from to fill these orders.
    Sure he can order anything but it takes a week to get anything out here, then by the time the order comes in the people don't have the money any more.
    Says when he can fill these orders in less than 24hr he is almost always able to separate these people from their money.

    Then I think I am going to start building a display case. I have some 1/4 inch thick glass I am going to mate with 3/16 lexan connected together with some left over solar panel epoxy. Then build the rest out of stainless so it will look nice and be solid. Then hit up some gun shows when the prices are high.
    I figure 1 gun show I could sell everything I have or at lest most of it for a lot more than what I paid for it for an out of pocket cost of less than $100.

    As prices dip, restock inventory.
    Each time I do this increase inventory by at least 25%.
    Then just maybe I won't have to work for some one else till I die.

    Selling back to a dealer just doesn't make enough money fast enough, usually 10% if I'm lucky.

    Edit, just checked, no gun shows in this region till october. I'll be ready just in case.
     
    Last edited: Sep 10, 2017
  12. oil pan 4

    oil pan 4 Monkey+++

    Rhodium closed above $1100 today.
     
  13. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    And [btc] is at 5700. Seriously WTF? It's just 1's and 0's
     
  14. oil pan 4

    oil pan 4 Monkey+++

    Rhodium bid closed at $1,200 friday.
     
  15. oil pan 4

    oil pan 4 Monkey+++

    Rhodium doesn't like the number 13 so it shot straight past it and closed over $1,400 an ounce then contracted $30, closing just under $1,400 an ounce yesterday.
     
  16. oil pan 4

    oil pan 4 Monkey+++

    Rhodium shot past $1,500 an ounce yesterday.
     
  17. oil pan 4

    oil pan 4 Monkey+++

    If rhodium doesn't close at 1,600 today it will tomorrow.

    After months of inactivity rhodium roars to life. It's not even warmed up yet.
     
  18. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Rhodium sold in bullion , not coins ?
    So to an untrained eye , could be lead
    Sloth
     
  19. oil pan 4

    oil pan 4 Monkey+++

    Platinum is getting low again.
    Anything below 900 an ounce is slightly tempting.
    Gold and silver still too high to buy. Unless you habitually buy a few ounces of silver every week, lay off the large purchases.
     
  20. oil pan 4

    oil pan 4 Monkey+++

    The rhodium bid finally closed at $1,600 or higher.
     
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