jultorsk

It's the 'buying the dip' and saving 8 quid on an ounce of gold that makes me chuckle... (I've done it myself!)

I can't believe the amount of money that passes through this forum and the amount of precious metals members are sitting on and you are all eating tinned food. 
 

I paid £3.50 for a bag of ice the other day. Use to be a £1. Could sell just water with the instructions to freeze it yourself at home. 

I'm not sure it's guaranteed or even supposed to keep up with inflation, much as we would like it to  -  but it has outperformed most major global stock tracker indices; so that's pretty good in itself.
An insurance policy in so far that it preserves wealth, a tad hard to swallow when it's down 8% from recent highs, but that's the nature of any commodity......
- I regret not buying 3000 litres more heating oil 2 or 3 months ago, one makes decisions with the best of intentions, but nobody gets it right all of the time.
I'm speculating Aldi soup will outperform the bigger brands going forward, think I'm onto a winner there ........... 👍

Yes, I'd agree it's safe to say this has been well and truly debunked. The remaining argument is that it's an 'insurance' policy. Insurances are costly and none of them are perfect cover; but likely better with than without.  

Yes, I'd agree it's safe to say this has been well and truly debunked. The remaining argument is that it's an 'insurance' policy. Insurances are costly and none of them are perfect cover; but likely better with than without.  

3 years ago gold was £1,479  would have bought 3792  tins, cans, containers of soup @Earthmetal   today gold is  £1,481 would buy 2146 cans of soup 43% less soup (49% less with silver.) 
Factor in VAT and dealer premiums into the mix and the numbers and silver become dramatically worse.       
We might all as well give up the game and stack cans of food......Won't be that long now before we are flashing a can of beans and sausages on today I received 🤣

Your "wealth" would be expired by now! Just sayin'...

You appear to have become an American midway through your sentence...

I expect you'll now be calling postage 'shipping', labels 'tags', and telling people that you are 'good' when they ask how you are. You're then on the road to inexcusable habits like 'can I get' and the utterly absurd 'my bad'.

@Darr3nG I’m not biting as when I say PM’s are being out performed by tins of food some get really upset at me.  

the Silver/tin of soup ratio  would have most in tears. 
 
3 years ago silver was £20 oz and could buy 51 tins of soup a Lidl, today silver is £17.94 oz can can only buy 26 cans of soup. 
 
silver has lost 50% of its stored wealth to soup in 3 years. 
 
oh gees her comes the hate mail……..
 
 
 
 

£385 plus post

Thanks for looking 🙂
 
 

https://coins.ha.com/itm/great-britain/great-britain-elizabeth-ii-gold-proof-una-and-the-lion-200-pounds-2-oz-2019-pr70-ultra-cameo-ngc-/a/3109-31227.s?type=lotlink--bidnotice-tracked-dailystatus
 
Looks like we still have love for 2oz gold Una & Lion seems to be holding its own sold at $72,000  (including buyers premium) at Heritage USA earlier in the week 
@Frenchie
 

When people prefer to emigrate to BRICS countries instead of North America and Western Europe, then I'll believe in the BRICS currency

Gold is a hedge against both fiat currency and the stock market
If USD weakens, gold goes up. If GBP weakens relative to USD, gold goes up in GBP
Dates of S&P 500's
Biggest Declines
S&P 500
Gold
Sep 21, 1976 - Mar 6, 1978
-19.4%
53.8%
Nov 28, 1980 - Aug 12, 1982
-27.1%
-46.0%
Aug 25, 1987 - Dec 4, 1987
-33.5%
6.2%
Jul 16, 1990 - Oct 11, 1990
-19.9%
6.8%
Jul 17, 1998 - Aug 31, 1998
-19.3%
-5.0%
Mar 27, 2000 - Oct 9, 2002
-49.0%
12.4%
Oct 9, 2007 - Mar 9, 2009
-56.8%
25.5%
May 10, 2011 - Oct 3, 2011
-19.0%
9.4%
 
(the 46% decline in gold occurred just after gold’s biggest bull market in modern history.)
Gold is currently dirt cheap compared to the S&P 500, which is on its longest bull run in history


 
Recession (deflationary) will initially be a problem for gold and silver. When we see headlines about recessions and the stock market falling off a cliff, gold and silver will temporarily correlate due to deflationary pressures:

 

 

 

 

 

 

 

 
 

Chinese developer Evergrande files for US bankruptcy protection
https://www.reuters.com/legal/china-evergrande-files-protection-us-court-part-32-bln-debt-overhaul-2023-08-18/

It sold for $156,000 in the end ! 

Some GB coins went for crazy prices in that platinum sale yesterday now the results are in 

The Platinum sale is about to start and this 1819 is sitting at $82,500 ($99,000 incl Buyer's Premium).
There's also another 'Sovereign' currently bid at $662,500 and a gobsmacking Gothic Crown at $230,000.
https://coins.ha.com/itm/great-britain/great-britain-henry-vii-1485-1509-fine-gold-sovereign-of-20-shillings-nd-1492-au50-ngc-/a/3109-31158.s?ic4=GalleryView-ShortDescription-071515
https://coins.ha.com/itm/great-britain/great-britain-victoria-proof-gothic-crown-1847-pr66-deep-cameo-pcgs-/a/3109-31209.s?ic4=GalleryView-ShortDescription-071515
British coins sure seem to be on good footing, and its entertaining to watch the live bidding even though such coins are only distant dreams to me 

The Platinum sale is about to start and this 1819 is sitting at $82,500 ($99,000 incl Buyer's Premium).
There's also another 'Sovereign' currently bid at $662,500 and a gobsmacking Gothic Crown at $230,000.
https://coins.ha.com/itm/great-britain/great-britain-henry-vii-1485-1509-fine-gold-sovereign-of-20-shillings-nd-1492-au50-ngc-/a/3109-31158.s?ic4=GalleryView-ShortDescription-071515
https://coins.ha.com/itm/great-britain/great-britain-victoria-proof-gothic-crown-1847-pr66-deep-cameo-pcgs-/a/3109-31209.s?ic4=GalleryView-ShortDescription-071515
British coins sure seem to be on good footing, and its entertaining to watch the live bidding even though such coins are only distant dreams to me 

Two factors which might help to push the price of gold back up again.
 
1. The possible downgrading of a number of US banks, including JP Morgan Chase. 
https://www.reuters.com/business/finance/fitch-warns-it-may-be-forced-downgrade-multiple-banks-including-jpmorgan-cnbc-2023-08-15/
 
2. The upcoming BRICS summit. 
https://www.reuters.com/world/africa/brics-nations-meet-south-africa-seeking-blunt-western-dominance-2023-08-17/
Although it does specifically state in the article that according to South Africa, discussion of an alternative gold backed currency will not be on the agenda.   I don't know what to make of it TBH.

I little update regarding this 5 sovereign and history. 
I bought this coin in 2012 from My local coin shop.  I made a thread about this coin when I joined this forum (link further up). At the time some thought it was a fake coin.  I spoke to Lawrence and I told him from whom I bought it from and also who else verified the coin at the time. Lawrence said of the two, that If those two said it was real then likely it is. Had I lived closer to Blackpool, I would have had Lawrence look at it.
To cut a long story short, some guessed who the coin shop off Charring Cross was. It is the one in Cecil Court run  by Philip Cohen
Anyway couple of weeks ago I was in Hatton Garden where I went to sell some scrap gold and got the coin XRF as I put in this thread. The reason for this was about what happened In April. That month, I went to Coincraft (opposite the British Museum), a popular coin shop in all the coin magazines. Walked in and showed them my Jubilee Head 5 Sovereign, first one person, then a second (more senior status) and both said it a fake. I said how can you be sure without even putting his loupe to his eye. He said it a good fake but still a fake. They were both being dismissive. I said ''Have you got a XRF Scanner to test the coin'' The answer NO we do not buy bullion.  The truth is that shop is there to sell overpriced tat to tourist with their £40 Morgan Dollars and Silver Crowns and half. I would buy nothing from them. 
 
Today I decided to pay a visit to Philip Cohen. Last time I was there was more then 9 years ago. I said nothing that he had seen the coin before. To him it was the first time he had seen this coin. He had a good look and said '' This is a very nice coin''  I said to him '' How can you be sure that it is not a fake?''  He answer, Been in the business long enough and have seen many fakes and genuine 1887.  I then told him that he had seen that coin over 9 years ago and that his opinion was exactly the same. 
I told him what Coincraft had said.  He said if that coin was fake, he would shut the shop tomorrow.  I asked him if that was his coin would he get it graded, he said no. He thinks that it would be graded MS62 or maybe as high as MS63. He doesn't think the edge marks detract from the quality of the coin.  Anyway he offered to buy it off me for what I consider is a fair price of +£2450. 
If I do decide to sell, it would be to him.  To me he comes across as a very fair and honest person. Integrity is more important than money. 
If anyone in London has any nice coins to sell, I would go to see him. 

1866 Australia Sovereign AU 55 - £520 + POST

The platinum jubilee was the first royal celebration to be commemorated by issuing a 50p piece. A collectors piece with a fabulous design. I have two to offer, both are slabs only.
The first is the platinum proof 50p, only 150 issued, 55 in PF70. The other is the gold proof 50p,  issued with a higher mintage 580, only 35 are graded PF70.
Platinum piece is offered at £1725 posted sd, the Gold proof at £1325 posted. Both together at £3000.