Who is is buying Gold coins like crazy?

[tltaylor89]

I know I am greatest hedge in the world gold is and with the fawcet of currency printing we could see $7 candy bars sooner than later.

[big0mar]

Just another bubble.

Don't stay in there too long

[THE PROFIT]

I don't eat sweets

[Fishhead]

Farmland......and traces of gold

[pavyracer]

I buy pennies all the time. Because when the price of copper skyrockets I will be a millionaire.

[MC PICKS]

Foreclosed properties here bud, turn em into rentals.

[Doug]

I buy pennies all the time. Because when the price of copper skyrockets I will be a millionaire.

too bad they are 97.5% zinc, and 2.5% copper unless minted before 1982, and are also illegal to melt. What you want to save is actually nickels, they have more copper and nickel in them, than the 5 cent face value, also illegal to melt, but so what ?


nickels are worth 109% of face value, pennies 53%....for the metal

http://www.coinflation.com/coins/basemetal_coin_calculator.html

[Chi_archie]

i'm going big into catalytic converters off of vehicles

[Brock Landers]

i'm going big into catalytic converters off of vehicles

LOLOL

Palladium eh charlie?

[Chi_archie]

6 dimes an ounce for rhodium

[pavyracer]

too bad they are 97.5% zinc, and 2.5% copper unless minted before 1982, and are also illegal to melt. What you want to save is actually nickels, they have more copper and nickel in them, than the 5 cent face value, also illegal to melt, but so what ?


nickels are worth 109% of face value, pennies 53%....for the metal

http://www.coinflation.com/coins/bas...alculator.html

You sayin I can't go to the bank and convert my pennies into nickels?

[tltaylor89]

Lol
now I'm going to melt nickles.

[robmpink]

I like to melt butter and make rice crispy treats once a year.

[Sam Odom]

I've been buying bags of silver U.S. Quarters. Storage is a problem now.

[pavyracer]

I've been buying bags of silver U.S. Quarters. Storage is a problem now.

I can design a vault for you since it's my job. You can pay me with some silver quarters.

[Sam Odom]

I can design a vault for you since it's my job. You can pay me with some silver quarters.

I have to store 'off-site' because I live in a condo, 5th floor. The weight of a vault I need would violate condo rules.

[Doug]

You sayin I can't go to the bank and convert my pennies into nickels?

I'm saying if you want to hoard modern coins for their metal content, nickels are the only coin readily available that are +EV now. Copper pennies are worth about double face value, but not worth searching for, 98-99% of pennies in circulation are zinc coated copper.

About 2 years ago, nickels had 10 cents worth of metal in them ( 5.5 cents now). Hoarding them is somewhat doable. $1,000 in nickels, ( 500 rolls) would probably fit in a milkcrate pretty easily, but you probably couldn't lift it.

If it got up to 20 cents of metal in a nickel, they would vanish from circulation, and get melted ( illegally). The 75-25 copper/nickel alloy would have to change to whatever Canada now uses ( steel ?). Canadians aren't dumb enough to make nickels that cost 10 cents + to manufacture. EH !

Seriously hoarding nickels is not a bad idea. I'd guess something like an area of your garage about the size of a washing machine, filled with nickels , at $20,000 face....very rough guess, and probably low.

It could quadruple in metal value in a few years, and even if you sold it for double, you are fine, as it is illegal to melt them, but you are just a "coin dealer", not a smelter. It also CANNOT drop in value (if you get them at face value), nickels are good money, bad money drives good money out of circulation ( Gresham's law). Saving/ hoarding nickels has little downside....as long as you have a decently secure place to hold them, like a secured basement, garage, etc. If the copper/nickel drops a lot ( unlikely) , you have the face value, and a big pile of nickels, but the world economy is probably now in another Great Depression !

Save your ****ING nickels, that's the only real money left in the USA ! Grab the nickels by the roll and store them, actually !

[big0mar]

I actually run a cash for gold business in my area. Been killing it lately! Dumbasses act like their old jewelry has no value!

[robmpink]

I actually run a cash for gold business in my area. Been killing it lately! Dumbasses act like their old jewelry has no value!

Do you buy elephant tusks?

[Doug]

I actually run a cash for gold business in my area. Been killing it lately! Dumbasses act like their old jewelry has no value!

So you cheat people for a living, then !

What a great guy !

Are you a fence, too ?

Pay a ****ing fair price for stuff, or you're a crook, and I'm sure you are a POS thief/ fence, no doubt !

[tltaylor89]

Thinking about buying a bullion bar.

[Doug]

Thinking about buying a bullion bar.

Go in bullion coin form instead....American eagle, Canadian Mapleleaf, K-rand.....easier to trade, bars are 1970's stuff.

[str]

I actually run a cash for gold business in my area. Been killing it lately! Dumbasses act like their old jewelry has no value!

You should feel real good about yourself.
I mean after all, why give someone an honest,fair price when you can screw them royally.
Keep up the good work

[toastedbread01]

Gold is like the opposite of oil. When the dollar is shit, it never goes up as much as it is supposed to.

[Grandmaster B]

Go in bullion coin form instead....American eagle, Canadian Mapleleaf, K-rand.....easier to trade, bars are 1970's stuff.

I like american eagles...graded by NGC...I dont care if its a extra $20 for the grading

you dont recommend bars though?

[freeVICK]

price of gold is through the roof. sell!!!

[Chi_archie]

good thoughts in this thread.... keep it up

[pavyracer]

Doug,

I am actually going to cash my paycheck this week in nickels. I wore my truck's tires cashing it in pennies.

[Doug]

I like american eagles...graded by NGC...I dont care if its a extra $20 for the grading

you dont recommend bars though?

Grading/ authentication by NGC or PCGS is unnecessary on bullion gold. It's easy to tell if it is genuine or not, and MS-69 or MS-70 means little on bullion, this isn't like a real coin from the 1920's or earlier, where the difference between MS-63 and MS-66 can be thousands of dollars.

These modern Eagles ( Eagles are originally $10 gold coins, which were no longer produced after the 1st Commie POTUS (FDR) took the USA of the gold standard around 1932-3.

You'll never get the $20 fee back, unless maybe it is MS-70, by a top grading service ( PCGS, NGC, ANACS).

I don't like bars as much, would prefer a bullion coin over a bar, can get the coins as small as .1 0z, they are easily saleable, and impossible to fake, if the buyer has any knowledge at all. The only thing that weighs like Gold is Platinum, and that costs more. Lead isn't even close. Platinum is ridiculously heavy.

I'll take a die struck coin over a bar.

[Doug]

Doug,

I am actually going to cash my paycheck this week in nickels. I wore my truck's tires cashing it in pennies.

If you're serious about speculating in metal via holding coins, nickels are what you want to hoard.

[tltaylor89]

Gold is like the opposite of oil. When the dollar is shit, it never goes up as much as it is supposed to.

Gold had always outperformed every currency anyways no matter if the dollar was shit.Bring up a chart of gold vs currency the line for gold never deviates down.

[Doug]

Gold had always outperformed every currency anyways no matter if the dollar was shit.Bring up a chart of gold vs currency the line for gold never deviates down.

Gold was officially $35 /ounce for a long time, Nixon made it legal to own again. Gold peaked at $1,000 / ounce in 1980. It's about $1,200 now, but was $300-500 for much of the time between 1980 and 2010. Buyers in 1980 at $1,000 aren't too happy. Gold can have a bad 30 year run.

You can't eat Gold, I like FH's farmland....if you know what you're doing with that.

[tltaylor89]

Doug I want 100,000-$130,000 in gold to hedge against inflation this is a 2-3 year physical trade for
me.With the amount of paper the US is printing inflation is almost a must.Government can't quantitative ease forever .

[Doug]

Doug I want 100,000-$130,000 in gold to hedge against inflation this is a 2-3 year physical trade for
me.With the amount of paper the US is printing inflation is almost a must.Government can't quantitative ease forever .

Storage won't be a problem, that will fit in your hands, or a hot dog bun !

[nobs]

Damn Tltaylor, you posted this thread and just kicked all the Metals square in the NUTS. Palladium and Platinum falling like 5% every day since this thread was posted. Silver down almsot 20%, gold down about 12 %, another 1.5% today, and now its getting crushed on the overnights. Wow.

Its all good though, in the long run these will all go back up, this is just a buying opportunity. Just cant believe that I saw Palladium coins seeling loike Hotcakes for $575-$600 last week and now its about to go into the 300's.