Ignore gold spot prices

[metalman]

if you watch the paper gold market you are missing the gold market.

paper gold no longer has a reliable relation to physical.

don't believe me? watch the physical gold market here...

1 Week Top 10 Gainers Total of 676 Gainers See All 1 Week Gainers

PCGS No	Description	Desig	Grade	Today's Price ($)	Price as of 1 week ago	Gain ($)	% Change
9020	1892-CC $20	MS	60	9,500	7,500	2,000	26.7%
9020	1892-CC $20	MS	61	12,500	10,000	2,500	25.0%
8981	LIBERTY $20 'DOLLARS'	MS	2	1,200	1,050	150	14.3%
8998	1882-S $20	MS	2	1,200	1,050	150	14.3%
9020	1892-CC $20	MS	58	5,500	4,900	600	12.2%
9020	1892-CC $20	MS	55	4,000	3,600	400	11.1%
8981	LIBERTY $20 'DOLLARS'	MS	60	1,225	1,105	120	10.9%
9022	1893 $20	MS	60	1,225	1,105	120	10.9%
9024	1893-S $20	MS	60	1,225	1,105	120	10.9%
9018	1891-S $20	MS	60	1,225	1,105	120	10.9%

1 Week Top 10 Losers (None)



gold coin price changes

[jtabeb]

Re: Ignore gold spot prices

if you watch the paper gold market you are missing the gold market.

paper gold no longer has a reliable relation to physical.

don't believe me? watch the physical gold market here...

1 Week Top 10 Gainers Total of 676 Gainers See All 1 Week Gainers

PCGS No	Description	Desig	Grade	Today's Price ($)	Price as of 1 week ago	Gain ($)	% Change
9020	1892-CC $20	MS	60	9,500	7,500	2,000	26.7%
9020	1892-CC $20	MS	61	12,500	10,000	2,500	25.0%
8981	LIBERTY $20 'DOLLARS'	MS	2	1,200	1,050	150	14.3%
8998	1882-S $20	MS	2	1,200	1,050	150	14.3%
9020	1892-CC $20	MS	58	5,500	4,900	600	12.2%
9020	1892-CC $20	MS	55	4,000	3,600	400	11.1%
8981	LIBERTY $20 'DOLLARS'	MS	60	1,225	1,105	120	10.9%
9022	1893 $20	MS	60	1,225	1,105	120	10.9%
9024	1893-S $20	MS	60	1,225	1,105	120	10.9%
9018	1891-S $20	MS	60	1,225	1,105	120	10.9%

1 Week Top 10 Losers (None)



gold coin price changes

If this is anything like the silver market, I'll bet you dollars to doughnuts that the last gold purchase any of us made from a dealer WAS OUR LAST PURCHASE. Only thing left is resale, junk and pawn shops. Physical Silver is flat-out gone.

[idianov]

Re: Ignore gold spot prices

Central Fund of Canada is now trading at 19% premium to NAV in CAD on Fri, Sep 19. The day before premium was 1.5% :eek:

cef nav sep 19.bmp

[Guest]

Re: Ignore gold spot prices

Metalman - here's an unbelievable story for you. But I swear it's true.

Down here in San Diego, right down at my local mom and pop grocery store on the corner. The owner is a Chaldean Christian guy from Iraq. He's in his sixties, and has been working hard all his life, kind of stooped over, mild mannered sort of guy with a weary look about him.

About a year ago, some guy was passing by and stopped in to purchase a soda. Said he needed money and had a "bunch of old silver coins" his granddad left him? Well our Chaldean store owner agreed to buy the lot for the spot price of silver. Can't remember what it was, but it was well before the big price run up to $21, so he likely purchased these at around $15.00 spot silver.

What did he buy?

He bought 200 pieces of the 1798 draped bust silver dollars, in decent condition. Yes - all of them were **1798**. He paid about $3000 for the lot.

So I looked them up for him and look what we found?

US DOLLAR 1798 - DRAPED BUST - 200 COIN STASH.jpg

OK, assuming these coins valued in at the minimum assessed on this chart, those two hundred coins are worth $320,000.

I think they were the 15 star, small eagles. I took a look at a couple of samples and seem to recall this is what they were. Well this may be the largest single stash of this exceedingly scarce coin in the entire US, sitting god knows were in the possession of a little downmarket grocery store owner in San Diego. Oh, and if the condition of these coins valued in at 12 grade, they'd be worth $3400 apiece. That means for $3000.00 US bonars this guy bought $680,000 USD worth of rare coins off a guy on the street.

True story. I saw a whole handful of the coins to get a sense of what condition they were in. Held 'em right in my hand. And no, I did not offer to buy them off him. I'm the guy who told him what they were worth, so how was I gonna buy them off him right after telling him that?

[rabot10]

Re: Ignore gold spot prices

Metalman - here's an unbelievable story for you. But I swear it's true.

Down here in San Diego, right down at my local mom and pop grocery store on the corner. The owner is a Chaldean Christian guy from Iraq. He's in his sixties, and has been working hard all his life, kind of stooped over, mild mannered sort of guy with a weary look about him.

About a year ago, some guy was passing by and stopped in to purchase a soda. Said he needed money and had a "bunch of old silver coins" his granddad left him? Well our Chaldean store owner agreed to buy the lot for the spot price of silver. Can't remember what it was, but it was well before the big price run up to $21, so he likely purchased these at around $15.00 spot silver.

What did he buy?

He bought 200 pieces of the 1798 draped bust silver dollars, in decent condition. Yes - all of them were **1798**. He paid about $3000 for the lot.

So I looked them up for him and look what we found?

[ATTACH]601[/ATTACH]

OK, assuming these coins valued in at the minimum assessed on this chart, those two hundred coins are worth $320,000.

I think they were the 15 star, small eagles. I took a look at a couple of samples and seem to recall this is what they were. Well this may be the largest single stash of this exceedingly scarce coin in the entire US, sitting god knows were in the possession of a little downmarket grocery store owner in San Diego. Oh, and if the condition of these coins valued in at 12 grade, they'd be worth $3400 apiece. That means for $3000.00 US bonars this guy bought $680,000 USD worth of rare coins off a guy on the street.

True story. I saw a whole handful of the coins to get a sense of what condition they were in. Held 'em right in my hand. And no, I did not offer to buy them off him. I'm the guy who told him what they were worth, so how was I gonna buy them off him right after telling him that?

Great story Luke

[Guest]

Re: Ignore gold spot prices

Great story Luke

Argghhh! I was chewing my fingernails afterwards, daydreaming about what might have happened if I'd made him an offer for that stash of old silver coins before telling him what I thought they were worth! But, of course, I could never have allowed myself to do something that sneaky and self-serving. ... Or could I have? :eek: