dicker

I’m a bit lost…

So I have had bought NGC coins and a number have come in the same style of sheath. I suspect this is direct from NGC?

Seeing the comments above - I know someone here who is an undeniable whale when it comes to silver. A one percent rise would equate to approx 50k to them from our last conversation a couple of years ago… I guess this weeks rise in silver probably would have bought him a Lambo.

I said six months or so here that I thought Silver was in a great position to accelerate and it has. Silver sitting at 28.44 For those who are chartists, you won’t see a better cup and handle formation than this. It has taken ~30 years. It was last at this price in 2011…. Enjoy the ride.

Gold at 2483 I maintain my long held position that I can’t predict gold price from day to day or week to week but long term, Gold in GBP and USD is a worthy asset in the long term. The Labour government is an economic disaster, unable to manage the basics, in favour of vanity projects, appeasing unions, and punishing business…who actually generate money unlike the state. But I’m not sure many Labour MP’s genuinely understand this. More borrowing follows of course along with higher taxes. At some point a reset of economic policy will happen, but not by this government. The medicine needed for the ill UK economy will be unpleasant but necessary. Gold will, in my opinion insulate holders from the worst of what is to come.

Whilst the cynical me would suggest there is something in it for each bank to post forecasts, Volcker and Frank-Dodd killed prop trading, and therefore banks running their own book. Well theoretically at least. I suspect some banks still essentially run a P&L book on the premise of managing risk, but not to the extent where they will move markets. So I don’t believe that Citi is buying and JPM are selling (in very crude terms), and are using research to help their prop trading strategy. Research departments at banks are run quite differently, with genuinely different thinking emerging from banks. Sometimes, confusingly different departments within the same bank have radically differing opinions which can make banks look somewhat stupid with differing outlooks published days apart with wildly varying predictions. Putting aside my own views, JPM are specialists in Fixed Income (Bonds) with from my perspective an unparalleled perspective. They also managed to avoid much of the 2008 fallout by having limited exposure to CDS’s and maintaining what they term a “fortress balance sheet” - which is essentially very high value and liquid assets and a high capital to risk ratio. Put simply they managed risk well and whilst other banks faced oblivion, JPM had sufficient capital to both stay afloat and buy assets from other banks despite writing off 5.5bn. Citi on the other hand needed a bailout of approx 50bn. On balance, I would go with JPM’s estimate, because in my opinion they have the processes and rigour to manage risk at a global market level, with thinking that goes beyond looking at a single asset. As a side note when talking on risk management, Citi “accidentally” credited USD81 trillion to a single customer earlier this year. They were supposed to send USD280 (yes two hundered and eighty dollars). Their (Citi’s) total assets are only just over USD2bn. And this is not the first time that the basics (like crediting customers with the right amount of money…) were found significantly wanting at Citi.

@LawrenceChard Any updates on your thinking?

@LawrenceChard Thanks for posting these - great conundrums! There is some wear. So if this was a Sovereign, I might put the wear down or being in jewellery or the coin being circulated. However this is a larger coin, so not sure if it would have been in jewellery…? But some small details exist on this coin that do on a genuine one. A good example being the denticle under the I of IMP. Fatter than the surrounding ones on this example AND a reference coin. Note: This is the same on the proof version. If counterfeit, I suggest that this coin has been minted using an impression of an original rather than a die made from scratch. But, from what I can see from this photo it looks genuine but with wear. I look forward to the seeing the update on this @LawrenceChard Best Dicker

Hi - are some of these still for sale?

Oddly, today my YouTube feed has exploded with videos on the price of silver going exponentially. Feels like organised pumping.

@LawrenceChard Do you see higher than average sales over weekends like this where are “big” events that might cause gold prices to rise? all the best Dicker

I have bought gold back from Australia and it definitely shows up on scanners. I think I posted here before that security in Australia (leaving) asked if I had fishing weights in my bag. Gold may look similar to lead on a scanner.

27.58…not bad.

We know, Wonger. I’m looking forward to COT numbers in particular.

Welcome back to the forum Wonger. We look forward to your wisdom.