Thelonerangershorse

It's the Tiber, I know that one.

I have available these 4 lovely coins
Prices plus post
 
 
2013 Canada 5 dollar.
8.36g of .900 gold
Low mintage coin of 98,000
£450 SOLD


 
 
Half sovereigns
1909 and 1914
£220 each 


 
 
 
2022 1/10th ounce Britannia
£190 SOLD

As ever things aren't just simple. The Fed increase/decrease special drawing rights (SDR's) which is a form of weighted basket of multiple currencies, which is somewhat like buying/selling gold. 2020 to 2021 and the Fed more than tripled the value of their SDR holdings. Iceland 2009 for instance and in terms of Krona (domestic currency) the price of gold soared during the financial crisis. As did the Euro. In terms of Euro's the price of gold remained relatively flat. Gold or Euro's would have served a Icelander as equally as well as a hedge against the collapse of their domestic currency.

Doesn't matter what the scale factor, all washes, is just a number. 1850 / 4.24 = 436 factor if you prefer, current price of gold / former on-gold-standard price of gold. Or multiply by 1000, or 123 or whatever. I very much suspect that if the plan was to scale by 123 that first gold holding/trading would be suspended/prohibited or compulsory purchased as per US 1933. But those lessons have been learnt, so unlikely to be repeated IMO. As-is works (in the sense of being better than the alternatives). Were a better method identified it would be inclined to be adopted. Each method has both upside benefit and downside risks/costs. Anticipating a ending of the as-is - is a expectation of bad things such as a scorched earth.
Personally I like the former British based gold standard, broadly no inflation, borrowers had to pay a real rate of return in order to borrow (those that saved were pretty much guaranteed a decent real return on their savings) etc. The US/fiat system reduced the cost for states to borrow to near zero, deposit cash in a savings account and after tax and inflation you'll be lucky if that even offsets inflation (currency debasement), not good for those that have saved who instead have to take risks in order to potentially achieve a real rate of return.

A state creates its currency by printing it. In effect a 0% coupon undated bond (note). It's passed around, repeatedly taxed so it ends up back at the treasury and re-spent again. Fiat money is debt (credit). JP Morgan said that gold is money, everything else is credit. With gold as money the coin is worth its weight (isn't a debt (credit)). So all fiat currencies are debt. Where central banks tend to hold other countries currencies (debt) for diversity (if their own currency weakens they can settle international trade settlements in other currencies). When the US prints/spends, attempts to export inflation onto others, so others will print and buy more US debt (treasury's) to negate that otherwise loss. Lockstep of sorts, where (US) debt is typically increased at around a 6% yearly rate, so recent apparent huge debts are ... normal. Its a exponential function. Debt to GDP and deficit (importing more than exporting) are the more critical measures. Japan gets away with debt to GDP of 300%+ as much of what its treasury issues its central bank prints Yen and buys. More a case of a internal debt, as though a family had one member in £10,000 debt to another, just a internal money redistribution matter.
Or for a better explanation as Gruff posted the other day, from the man that works for Biden
https://content.invisioncic.com/l328053/monthly_2024_05/twittervid.com_LawrenceLepard_33b0b2.mp4.7263460e4d0d5b01816835577b8d0c26.mp4

Recent US debt of near $35 trillion will at a typical average real rate of 6%/year increase, in ten years time will be 1.06^10 = 1.79 times larger in real terms, stand at more than $62 trillion. As in another ten years on from that it might stand at $112 trillion. Equally however it possibly stood at a 1 / 1.79 = 0.56 smaller level ten years earlier. Either way and tax revenues/spending etc. will be multiples times larger (smaller in backward looking direction).
In 1960 US debt was $286 billion, so has grown 122 fold in 63 years, at a 7.9% annualised nominal rate. Inflation over the same period around 2.7% annualised.
The US system puts a cap on debt expansion, so the government have to periodically go to congress to ask for the debt ceiling to be increased - as a backstop to prevent any one government over-doing it.
That wont fail (excepting some exceptional circumstances) even though it seems like debt is at highs and only growing at rates that some mistakenly belief will result in failure.

US debt clock https://www.usdebtclock.org/
and you can see how the debt is increasing (top left) and how much is coming back in the way of taxes (top middle/right) and other data such as where its being spent by the treasury/government. It's all a balance, you could divide each figure by 100 (or multiple each figure by 100) and ... its still overall the same balance. What matters is if spending is too large/fast, or not fast enough ...etc. Gold in contrast is a non fiat commodity currency, worth its weight. A one ounce gold coin might have bought a Roman soldier a nice suit just as it might buy a modern day man a nice suit.

If it's sealed, how do you know there's anything in the box??

And tomorrow will be a very busy day on this thread.

Interesting, looks like a genuine screw capsule

Not a bloody great big delivery from Estonia?

At the risk of appearing (more than usual) stupid, How can everyone be in debt? If someone, (be that a person or a country) has a debt then they must have borrowed the money from somewhere and spent it somewhere else, so 2 of the 3 parties involved have a pile of cash. I completly fail to understand how everyone can have a net debt??

Also worth noting, that if someone doesn't want to see my posts, they can use the ignore function. Less crying that way

Item: 2023 25x1oz QEII Silver Britannia 

Box: Supplied in a RM 25 coin tube

Condition notes: These haven’t left the tube (only to take the photos) and show standard RM bullion condition.

Price: £620 + £10 P&P Royal Mail Special Delivery.
 
Payment Terms: Payment by bank transfer

Dispatch Time: Aim to dispatch on the day after purchase.
 
If you have any questions ask! As I’m a new seller I’m happy to send first to a reputable user who can get vouchers.
These photos are from when I tried to sell before but I can take an updated photo with todays date if required.
 

1 oz Britannia King Charles III Silver Coin 2024 £27 each plus postage
Tubes available
BT PPFF

 

UK Based. Payment by bank transfer. UK mainland fully insured RMSD included. No refunds. No returns.
£SOLD 
Overall a lovely coin - a couple of light marks on the obverse that I can see over the brow and in the guilloche pattern.
Kindly PM...


 
 
 
 

Came across this beauty had to have it, the chap squeezed every penny he could out of me even the change I had in the glove box 😂😂😂 

Lots of Orientals, a few eagles and a Yale. Thats how Saturdays should be!

Received my 1st Tube of Brits this morning along with the 2oz Yale of beaufort coin, thanks to Mr & Mrs @BackyardBullion for the great service as always.

Many thanks to @BackyardBullion for some group order goodies. Some Yale’s and a unicorn 
Also thanks to @arshimo2012 for this stunning 10oz from the Perth mint 

I got these today, Nice little set of Ukraine silver banknotes, 9 in all. Can anyone tell me anything about them , they are 7.78g or 1/4 ounce. I have seen the equivalent 4 ounce ones but nothing on these.

Not pm.s but lovely ngc box.s from our @morezone better than i thought nice and neat better than in a bag lol. 

That fat mans on my list of coins to acquire. Nice condition 

Little parcel arrived to further brighten the day
 

Bought a batch of Metalor bars on a whim. And they join a small box to the safety deposit box...