SilverStorm

Welcome!  It is said that a journey of a 1,000 miles begins with a single step.  When we share the experiences of our journey, it will fortify us to continue stacking in the long run.   Good job on your 20 oz, that's definitely more than when I first started out.  

1 hour ago, SilverPlatinum said:

The Coin Shoppe, but it's sold out right now (it only took 2 hours to be sold out):

 

Thanks for the info.  I've heard of them, but have never bought from them.   What's your experience dealing with Coin Shoppe?  Have you had any issues ordering from them?   Thanks!

3 hours ago, SilverPlatinum said:

Ordered one 10 ounce bar from a Canadian dealer (which after 2 hours was sold out!).

Now I have both years: 2021 and 2022.

I think the New Zealand mint should make another year 2023 then stop making them; otherwise they will loss value.

 

Which Canadian dealer did you buy it from?!?!  

Thank you Lawrence for doing this.  Without accurate information, it is impossible to make informed decisions.   

2 hours ago, modofantasma said:

At the moment just aiming to buy all the above ground gold and silver, including yours.

Quick, hide!  Before modo grabs your stash!  😆

^^^ Well yes, of course.  Credit card debt and unsecured loans should be tackled first, because typically they are at a much higher interest rate.  Every person's financial situation is unique, and there is no "one solution fits all" scenario.   

10 hours ago, Lyrinn said:

Mortgage overpayment verses PMs is always a hard one. It really comes down to personal circumstances. My mortgage allows me to overpay 10% of the remaining amount - resets in Jan every year - without penalty (additional charges), which I do.

I think finance is a lot like diet. Everything in moderation does no harm. Overpay on mortgage; pay off credit cards (or don't get them); live within your means; repair instead of replace; buy PMs.

Spread your portfolio into as many baskets/assets as possible.

Paying down debt faster is always a good financial decision.  Why pay more interest expense when you don't have to?  At the end of the day (i.e. mortgage term), more money in your pocket is better than in the bank's pocket.

Can you ask a reputable local bullion dealer to order the coin in?  It would save on the hassle for sure.

My stacking goal is to join the 100 oz club.   It's extremely difficult, and I don't know if I will ever get there.  But it's the journey, not the destination that's important.  😄

16 minutes ago, boughtthetop said:

Officially i thinks its 100g,but in this he tests 200g & 1kg

My apologies, I was thinking about the wrong product when I posted my answer above.   To clarify, I was looking to get either the GVS Bullion Tester or the Goldanalytix Magnetic Screen Scale.   Both of these are magnetic scales, and tests the PM for it's innate magnetic properties.   The Goldanalytix Magnetic Screen Scale (I believe) has a weight limit.   This is why I went with the GVS Bullion Tester.  

The GoldScreenBox works similar to the Sigma Metalytics PMV (as shown in the video).   With regards to the pricing and capability of this product, I didn't look into it, as I already have the Sigma PMV Pro Mini.

I hope this clarifies my above post.  

1 hour ago, ryanp007 said:

Figured Id change it up today, so today I received this awesome email from some random guy in Russia. It seems totally legit and is probably an excellent business opportunity but, sadly, I dont live in the UK. So I figured Id pass this opportunity of a lifetime on to you fine folks 🤣🤣🤣🤣🤣

It's probably Putin and his cronies trying to side skirt the financial sanctions lol!  😜   Tell him you'll cooperate but want to be paid in gold!  😝

This is where having head knowledge about the history, composition, minting methods, die strikes, etc becomes very important.  Testing equipment like the Sigma and the GVS can't detect accurate fakes, as it only tests for correct metal content.   I do believe Lawrence concurs with my statement.    And this is why I predominantly stick with current year BU as I don't know old coins well enough to distinguish between an original and an accurate fake (after having passed a Sigma test of course).   The only time I may consider picking up an old coin is if it has been graded and slabbed by a professional, like NGC or PCGS.

All above are good points for not buying testing equipment. For me, it is having that piece of mind knowing that my metals have been tested and verified by me; this is a great feeling, it allows me to sleep soundly at night knowing there are no fakes in my stack.  And you can’t place a price tag on that.  

On 03/03/2022 at 05:07, LawrenceChard said:

So, what was the price?

😎

OMG, you're asking me now lol.  Olympus wanted Cdn $12,471.20 (VAT included) for the Olympus EPOCH 650.  Shipping and insurance extra.   That price quote was good until Aug. 15, 2021, so undoubtedly it has gone higher now.  Unfortunately for me, that is something I can't afford.   

On 16/03/2022 at 10:38, boughtthetop said:

Anyone use that GoldScreenBox posted above, seen a kiwi use it on youtube, looks like a nifty bit of kit

The GoldScreenBox is cheaper than the GVS (I forget by how much).  I ended up buying the GVS because it can test heavier weight bars and it has a premium look and feel to it.   I believe the GoldScreenBox has a weight limit (you need to reconfirm), and that's why I didn't go with it.  

(Edit: see revised comment below)

And this is why I got the GVS Bullion Tester.  If the Sigma throws a strange reading, I can use my GVS machine to re-confirm authenticity.  So far so good.

Sigma is probably your best bet if you are testing really old coins.  While the GVS is good, it's suitability is for modern day bullion.  You throw in an ancient coin on the GVS, you won't know if the values given is correct or not.  With a Sigma, you'll know right away if the tested coin is within bounds (or out of bounds) of acceptability.  

So I managed to snag one, so stoked!  Once it comes in next week, I'll post pics.   

7 hours ago, Toshunya86 said:

Not an expert , but the fixed peg can change . 

which means that if the rubles strengthens (which will be the case) , they can change the fixed ratio gold/ruble.

Great to see a "dedollarization" happening.

Umm...be careful what you wish for.   It might come and bite you.  

Dedollarization = collapse of US dollar as global reserve currency = global SHTF.  Dedollarization will happen, but I hope not in my lifetime.  Because if you think economic conditions are bad now, you ain't seen nothing yet.   

On 29/03/2022 at 11:10, LawrenceChard said:

The link says:

Now, if they were offering to sell their gold at $1550, their gold reserves would be cleared out in minutes.

 

This is where the phrase "backup the truck" is applicable!  😀

Please constraint your comments to the topic on hand.  If you have a beef, or just plain want to be a s**** disturber, please take it to PM.   Or create your own thread for that.  I am trying to post relevant content that members may find interesting.   If what I have to say is not according to your world view, that is fine.  Everyone is entitled to their opinion.  But please respect the opinion of others without the need of becoming combative or argumentative.  It's just not necessary.  

1 hour ago, Minimalist said:

So let me get this straight, the Post based their findings on an app which advised Russians to convert into Western currencies which the Russian Central Bank does not permit. Pure propaganda. 

Don't shoot the messenger, I just cut and paste.  

Do you know if Russian ATMs carry foreign currency?   If they do, then it is not out of the realm of possibility for Russians to exchange Rubles for western currencies.   I'm not familiar with Russian banking systems, so perhaps what you say is true.  But whatever the case may be, the point I was trying to make is that one should prepare for such an eventuality (i.e. fiat currency collapse).   And therefore the immediate need to prepare for this eventuality by holding and stacking PMs.

4 hours ago, Bigmarc said:

If you are a barber or butcher in Russia, what do you take as payment? If you are in a situation where local currency no longer works properly surely it's in everybody's interest to work out how to take whatever payment is possible. 

Agree with your comment.  Venezuelans did use gold flakes to barter for goods & services, so we'll need to wait and see if the Russians will also adopt the same bartering method.  

5 hours ago, Stacktastic said:

i was thinking that although a decent limited edition Rolex would not be a bad long term shout as you can cross borders with it, but it shouts 'mug me please'.
Surely buying bags of rice, salt, alcohol, coffee & things that might become scarce would be best - especially the rice as you can eat it.
I would have had a lpallet delivered months back if I was russian & they know from experience how things can turn.
combine the weather & government its a potentially deadly situation for the average joe. 
My guess is that gold is probably sky high on the premiums now from dealers due to demand. 

Im in a cash position but then again I know what to do with it when the time is right. 
That time is not now.  

 

Having cash on hand is a good idea.  If SHTF scenario, everyone is running to ATMs to withdraw cash.  And there won't be enough for everyone that wants it.

7 hours ago, MJCOIN said:

I am concerned about crypto for many reasons.  Mainly because I don't understand it.  Also, what happens if you can't get online because there's no power or you don't have an internet connection or you forget your password or any other number of reasons?

For me, crypto is a big no.  For others who know more about it I'm sure they are comfortable with their position.  Each to their own.

Agree with your assessment.  If crypto is a true store of wealth, it would have sky rocketed to new heights by now.   

It’s a no brainer, you don’t get involved with gangsters. Especially if you got a 2 year old.  

I was browsing the news and came across this interesting article on how current sanctions affect ordinary Russians.   I copied and pasted only the first half of the article; you can click on the link to read the entire article if you wish.  I have bolded the relevant point I want to emphasize.

Link: Russian sanctions: It’s all about the price of bread in Russia - The Washington Post

Ordinary Russians were already worried about rising food prices. Then came war and sanctions

For many Russian citizens older than about 30, the scenario is painfully familiar: Prices for nearly all goods are rising, and the value of the ruble is dropping.

A popular Telegram group is advising people to withdraw all their savings, convert cash into dollars or euros, or buy “physical assets” such as phones, watches and cars that can be sold at a later stage. Lines are forming at ATMs and banks, and rumors where foreign currency might be available are spreading fast. Nearly everybody is making frenzied calculations about how long their savings will last to buy basic staples.

The situation is reminiscent of the hyperinflation of the early 1990s, when President Boris Yeltsin liberalized prices as a prerequisite for the creation of a market economy after the collapse of the Soviet Union. As a worried Muscovite confided in 1992 in a journal that is now preserved in an archive of diaries by ordinary Russians: “Prices are outrageous! From 2 to 11 rubles [in one year] for a loaf of black bread.”

Rising food prices and food insecurity were the most obvious signs that something was going wrong on the path toward democracy and prosperity charted by Yeltsin.

In Vladimir Putin’s Russia, high-quality food staples became more widely available and relatively affordable. After 2015, though, inflation began creeping back due to low oil prices and Western sanctions for Russia’s annexation of Crimea. Prices rose further during the pandemic due to global supply chain disruptions.

By the time the war started, Russians were already vulnerable to food price inflation. In a July 2021 survey, 60.4 percent of respondents said they spend about half of their monthly income on food. And the cost of food was a concern for nearly every family. The survey said 96.3 percent of respondents drew attention to the rise in food prices. “In their opinion, vegetables, fruits, dairy products, meat, and vegetable oils have risen most of all,” the survey found.

The concern about the cost of basic staples and the frenzied efforts to convert cash or virtual savings into commodities with lasting value are thus familiar to Russian citizens. What remains unpredictable is how sanctions will affect ordinary Russians as the situation unfolds....

When fiat currency collapses and becomes worthless, having silver/gold on hand will help to feed and clothe yourself and/or your family.  This is why we stack, for when a SHTF scenario comes knocking on your door.  The axiom "better to have and not need it, rather than need it and not have it" could not be more true.