swanky

These are the pre-1920 premiums I bid with (GC = good condition): GC crowns = 50%, GC half-crowns = 10%, everything else = 5%. Just enough to win occasional auction. But this was a 12+ months ago.

You should be buying the 50% stuff at ~90% melt value, because no way you get 100% bulk selling to a jeweller etc when they need to melt down to refine.

Pre-1920 trades for a premium, but that premium is fairly consistent so just accept it. I prefer this over pre-1947, needs less space.

But the £ hasn't devalued much. What has happened is $ has appreciated against almost everything else. That's why £/gold hasn't moved much, and would be same if $ hadn't appreciated.

1 hour ago, Bumble said:

Hitting the upper BB usually triggers algorithmic selling

I count gold being higher in the following month more often than it's lower after a upper BB hit. Daily candles are too short-term for a slow mover like gold, switch to weekly.

1 hour ago, sovereignsteve said:

He's a long term economic author who specialises in gold. I believe he also writes on bitcoin but I can't comment on his knowledge in that area.

What happened to his prediction for new gold ATH in 2021? ... Seems like he focuses on gold, that's fine for long-term forecasts (5+ years) but not for short-term. 

1 hour ago, Stacktastic said:

He must be an actor or politician or somehting, by the way he speaks.. 😛 

He's literally an author and comedian, just the kind of person I go to for financial information 🤣

I collect both and can add some information. Except I don't collect near-mint-condition .925, premium too high, so potential for bias.

• .925 is more worn than .500, makes sense as silver is softer
• The first .500 alloy, 1920-22 with the 10% nickel, also wears a lot - less than .925 but more than the successive .500 alloys
• The next alloy, 1922-27 with 50% copper, fares slightly better
• Anything from 1927 holds up really well

1 minute ago, Richhutcho said:

Would love to learn a few people's valuations as a guide to a new buyer. 

In my experience average premiums are:

• Crowns - 90%
• Half-crowns - 50%
• Smaller denominations - 25%

26 minutes ago, Richhutcho said:

ebay an obvious site but as you all probably know end up paying over the top

If the market price is consistently above your valuation then you need to reassess your valuation. I buy pre-1920 on ebay frequently, at a premium I am confident of getting when I sell.

Old (circulated) British coinage is the best way to stack silver in UK imo. Buy used = no VAT, and cost of minting covered by BoE many decades ago. That just leaves postage, and sometimes s a premium but you get that back when selling. Plus you get to handle it without worrying about smudges or milk spots.

5 hours ago, frugalman said:

 

Could be the confidence in cryptocurrency has been badly knocked due to that squid coin scam.

 

Nah. That’s like saying Nigerian gold scams badly knock gold investor  sentiment.

57 minutes ago, sixgun said:

The BoE and GBP are insignificant with respect to the gold price.

@Bixleyis referring to £ gold price ($ price did not move 3%), to which BoE is very much relevant and significant.

58 minutes ago, sixgun said:

Markets digested what was said following FOMC yesterday

It's worth cross-correlating price chart with time of announcements. The FOMC digestion was done before BoE spoke - $ price sharply dropped 1% immediately after FOMC briefing, then clawed it's way back to pre-FOMC price by the time BoE began speaking.
Immediately on BoE's rate announcement a, £ price sharply jumped 1.7-1.8%, that's clearly triggered by BoE.

4 hours ago, HerefordBullyun said:

wait for the monday smash though!

£ gold price will still be green. Half of this move is sterling falling on unexpectedly dovish BoE announcement - $ gold price is flat over a week.

I like this example: Back in 1900 in London, England, 10 shillings would buy weekly groceries for one member of a wealthy household (this is documented in diary records). That's was half of £1 sterling then, same as half a gold sovereign today. Today that gold is worth £150 ($110), definitely enough for a luxurious weekly shop. So at least gold has maintained purchasing power.

But in those 10 shillings is 1.68oz of silver, at today's market price that would get just £28 ($21), barely enough for a minimal weekly shop. If silver was widely adopted as everyday money like in 1900, the nominal value in £ or $ should be 5x.

14 hours ago, Junior said:

the math is correct

No because the units are wrong. Read my last post in full, which was mostly about units. This guide should help (jump down to 'Multiplication and Division') - http://www.gmatfree.com/module-999/math-with-units

14 hours ago, sixgun said:

New dollar = 0.04 of old dollar = 0.04 x 24g silver = 0.96g silver

This works, thought it might help to show why with the units: g/$-old x $-old/$-new = g/$-new

 Forgot about this thread, need to follow-up because this point is critical:

On 17/10/2021 at 00:00, Junior said:

And when you multiply 24 x $0.04 = $600

You just repeated yourself. And made maths worse, did you mean divide? I will assume that.

I will try another way - the maths is fundamentally broken, it's not a matter of dislike. Let's analyse the left-hand side: 24g ÷ $0.04 = ?  That means the right value must have the unit of g/$ - grams-per-$ - but you just put $ which is wrong.

To get a $ value on right side, and starting with 24g on the left, then the divisor has to have unit g/$ - grams-per-$. Then maths works out - g ÷ g/$ = $.

Why has no one questioned the maths?

On 14/10/2021 at 15:59, Junior said:

24 ÷ $0.04 = $600

What is going on here? Why would you do this?

What if I did this: 24g ÷ $1 = $24
What does that mean? 24g of silver should have cost $24 in 1900?

No VAT on used old British coinage.

30 minutes ago, TommyTwoShots said:

He is a great commentator and very knowledgable. This is a real shame if true! It is nice to read posts from actual knowledgable people rather than strange conspiracies.

He has always presented well-reasoned arguments, always open to rethinking and learning, and never have I seen him 'ad hominem' others.

I've sent a coin as a simple letter no problem (Royal Mail). Seems mental to me to send a single coin in bulky packaging.
I used a corrugated cardboard insert to fill out envelope, as thick as coin, and cut a rough hole for coin. For protection you can wrap coin in plastic film or baggie and tape to card.

58 minutes ago, SilverStorm said:

Going by memory, there’s a fellow member here who has a stack of post 2018 SML.  He checked and confirmed no milk spots.  I also confirm my 2021 SML are also free of milk spots.  😆

My 2019's are also spotless.

1 hour ago, Midasfrog said:

"Dow falls biggest drop of the year as Delta variant fears hit Wall Street Hard " 

"X happens as Y happens" - always ignore these headlines, they are trying to make you draw the link.

If there's any issue with Delta, it isn't that it appears to be infecting vaccinated people but that new strains are becoming more virulent not less. Infecting vaccinated is explained by delayed antibody response - it takes a few days for memory cells to ramp up, so infections aren't prevented but illness is for most people.

3 hours ago, zxtm99 said:

However, as pointed out above, copper and silver have quite similar properties.

The density difference is enough for a weight test to differentiate.

9 minutes ago, zxtm99 said:

Call them plated, souvenir or restrike, then eBay seem to alllow that.

I don't see the issue with this. Seller is being honest, and maybe some people just like the look of Victorian currency and don't want to pay for the silver.

It's when seller doesn't disclose that causes problems, although the fake crowns I caught were quickly refunded no questions asked.

Only fakes I've come across masquerading as genuine are crowns, lots out there.