azazel

FFS, it wasn't "my" correction, but our dear top callers' and bubble predictors' ones. And once, I wanted to hold them to it. And what happened?? THIS!

 

EDIT: This is what we have been preaching for years: you GATA be in it to win it! The short term thinkers have lost/sold out.

I thought "you" wanted a correction so you could buy.

I am strapped-in but the engines' vibrations scare me.

Ah the good old A380 Rolls Royce engines, the best of British maufacturing will save the day....

$1410.... ouch,wheres G0ldfingers correction gone?

RE: Radio 4 "start the week", It was interesting that Gillian Tett (who has a very sexy lisp IMO) said that she was not worried about gold being in a bubble but more worried about other bubbles such as US treasuries...

Did anyone hear the 15 minute discussion on gold on start the week on radio 4 this morning. It was on at 9am with Andrew Marr. They were talking about the gold mania and the economist was making the case that we are not close to the end of the bull run.

 

It seems gold investing is starting to hit the mainstream.

Yes I heard most of it. I will try and find it on the BBCi player. It was Andrew Marr, start the week talking to Gillian Tett from the FT. Very interesting and worth a listen.

http://www.bbc.co.uk/iplayer/episode/b00vr...eek_08_11_2010/

Its the first item after the news...

What is the inflation adjusted high price of gold? $2300? I heard that figure at least 3 years ago, so it must need revising upwards. And what about all the inflation in the pipe, or baked in the cake, yet to come?

just one gold thread please, monthly threads make it cumbersome to follow at the beginning of every month and i agree so what if we have hundreds of pages on one thread? proves its popularity.

Gold and especially Silver have bounced back nicely/badly after the smackdown.

Yeah, whats the point in a new thread each month?

Great stuff azazel. Your on and I have to say I hope I lose

Can I get paid with £20 worth of silver please, even if its just a gram or even a scraping? Id rather not have that buttwipe stuff with Her majesty on it...

Despite wanting house prices to fall and understanding the arguments why it should happen I'm beginning to feel pretty doubtful it will actually happen to the extent discussed on here. I just don't see it falling 20% or more from here when priced in sterling. In other currencies/commodities sure.

 

Anyone care to have a wager on this?

 

If I lose the bet to you I just saved even more money off a property

 

If I win the bet well I'll probably be even more upset than if I had lost!

 

Lets say the other person wins if by Dec 2012 or earlier the nationwide index falls by 20% or more from here.

 

Any takers? Just a modest sum of say 20-50pds or so?

I will take you up on that at £20, just for fun. If houses dont crash by that amount it will be because the currency has. So gold will be even heigher. I believe both houses will crash and the currency, but I'm easy...

An interesting article about silver which includes:

....the US Mint is expected to release a new five-ounce silver bullion coin this year, the first ever. The coin will be three inches in diameter and have a composition of .999 fine silver.

I've read the five-ounce bullion coins will be near-exact replicas of the America the Beautiful quarters. There will reportedly be five different designs, and the mint plans to produce 100,000 of each. I can't wait to see them.

http://seekingalpha.com/article/232995-mor...llish-on-silver

I’ve noticed a change in sentiment on ebay. Commemorative coins such as the one in the link used to sell for about £12 and now they are selling for over £20. They seem to be going for the same price as a bullion coin now, where before they went at scrap value, which is daft as they are nicely made proof coins with some history. I know silver has gone up a bit but not that much.

http://cgi.ebay.co.uk/1-OUNCE-SILVER-PROOF...utorefresh=true

Received today and my gamble paid off - it weighs, looks and sounds like pure silver.

 

Is buying 50% silver coins worth it? I read elsewhere about US silver half-dollars from 1965-1968. They are only 40% silver so if you were to sell them for smelting they would cost so much to process it makes them worth rather less than the value of the silver within them. Since reading that I've stuck to sterling silver UK coins, 90% US coins and occasional francs and guilders 80%+

Yes, it is worth it. As a half crown between 1920 and 1946, it is 7.05 grams of silver, it needs no certificate of authenticity as it is one. I bought them as silver, not for smelting, and I'm sure there will be many people who will buy them from me for the same purpose.

I have bought over 2000 of them at £360 a kg for the silver content whilst the spot price is £495 kg. I got my last lot today. The guy I got them from, his granny had a shop in the 1950s, and she seperated the silver half crowns from the CuNi ones and hoarded them. (much like people will seperate the 1p, 2p, 5p, 10p, from the steel copies). She pased them on to her son and then the grandson who sold them cheap IMO.

Intrestingly, in 1921 when some of them were in circulation, a 50 hour weeks wages would have been 13 of them. I paid £32.50 for 13. I wouldnt work a week for £32.50! In 1946 for a 48 hour week you would get paid 32 of them, I paid £80. At that point it was decided that silver was too valuable and it was removed from the coinage.

http://privatewww.essex.ac.uk/~alan/family/N-Money.html

Pahhhhhh! Silvers going to $30, stuff TA, this is just a blip. Silver is still playing catchup from being vastly undervalued by an arrogant fiat system that demoted silver and gold to the history books, at its peril. Ping!!!

I won a 1-ounce silver round yesterday for £17 inc p&p

 

I tend to go for unusual searches, and relying on buyers / sellers not always knowing what they've got. This one I found by searching for 'Troy'

 

http://cgi.ebay.co.uk/USA-Modern-Replica-S...=item3f04038dde

 

I've also started looking at old (Victorian and older) crowns now that I can't use Sarnia and CI silver bullion.

 

 

 

I have sold my PHAG having made nearly 20% profit since July when I bought it. Hoping for a dip towards the end of the year so I can buy it back.

Are you sure its made from silver, the replica coin?

Crowns tend to be overpriced. I have been buying 50% half crowns for a bargain price recently from some guy I know of. I will be back to buying pre 1947 again on ebay soon and pre 1920 if the price is right.

Gold going to $2,000 but silver a better buy says Jim Rogers

http://www.arabianmoney.net/gold-silver/20...ays-jim-rogers/

Sarnia Silver is now selling 1/2 ounce coins which gets round the VAT problem of £18 being VAT free from Guernsey. They are priced at about £14 which is "expensive" in my view considering there is no VAT. I thought he would have to do that otherwise his buisness has no legs once the silver price exceeded £18 for a coin.

http://sarniasilver.com/index.html

Inflation-adjusted we're not there yet.

 

http://gold.approximity.com/since1968/Silv...SD_CPI-adj.html

In the period of 1970-1980s, inflation got out of control which contributed to the spike in precious metal prices seen on your chart Goldfinger. I know there has already been alot of inflation, especially in house prices, but the fear is that all the QE and loss of confidense in the fiat money systems will cause an inflation event some say will make the 1970 look like a "walk in the park". So to inflation adjust the price and spike of the 70's with todays figures, before the feared coming inflation event would significantly underestimate the extent of the move that is to come.

I agree with you on this - pictures of angels with magnets pulling the gold price up (notwithstanding the fact that gold is not attracted to magnets) is so err odd and kitsch that on the odd occasion I do check his site , I worry. A quick recap of public and private debt in the West, soon puts me back on track.

I dont think its meant to be scientifically accurate, just an illustration. You cant deny his track record though. I like his style and it sets him out as unique amongst all the other gold analysts.

Ford Fiesta or Camry?

Fiesta, my freind has one, Jim says he will send me the details of what he needs. I will pay for it myself and ask Jim for gold as payment. It will be well cool to own some of Jims gold! I will let you know how I get on, I might even start a thread somewhere, with pictures.

Bahahaha haha, Im hoping to get Jim his engine for his amphibious vehicle. How cool is that?

Yeah, I think Jim Sinclair will go down in history as a genius, at least in golds history. I was thinking of getting his leather bound book as it may become quite a collectors item one day.

Yeah, I also think it will benefit from the China rare earths scare, and so might do silver. Who owns all the silver anyway??

 

 

Not quite, but my timing was impeccable.

Yeah I remember well, I had just bought G&S and the prices fell, particularly silver and I had no cash to buy palladium at £135 an ounce from Bairds without selling what I had just got at a loss, and I was new to this PM thing. I wish I had bought a load though. Is that where you got yours from, bairds GF?

Not exactly about silver but did you hear that story involving palladium? New materials will increase the demand on the rare metal. Shall we call you palladiumfinger?

http://www.bbc.co.uk/news/science-environment-11484773

silver ends on £14 an ounce, £450 a kilo. Nice...

I just had a quick listen and he did say that, but I can't find anything to back it up. Are you sure you only had 1 glass... ? 

It woz a pint glass..... Its nothing compared to the excesses of the banks.... Lets face it what is the odd trillion or quadrillion these days eh?? Golds in a bubble though!!

That's an enthusiastic post. Do you have a link for the Irish bank comment, I can only see reports of 18-21% of GDP for a single bank? ...and yes they are taking the piss!

Sorry, I got slightly over excited after some early afternoon wine, having listened to Jermey Vine BBC Radio2 at work....A strong coffee and I'm OK now.....

He said at 1:22, after the song, that bailing out the biggest bank will cost as much as Ireland takes in tax for the whole year.

I might be stupid, but Im not deaf!! Eh, woot did he say????? Please tell me I'm wrong....

http://www.bbc.co.uk/iplayer/console/b00tw...Vine_30_09_2010

Goldfinger, remind me of the true value of silver, how many ounces for a house? Ive been buying shedloads recently, I will let you all know the details once the transactions are complete. Ive been buying well below spot and a great story to tell..........