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2000$ gold

This is a discussion on 2000$ gold within the General Prepper and Survival Talk forums, part of the Survivalist, Prepper, Bushcrafter, Forest Rangers category; See charts for today: Silver and Gold jolt upward I track the "street price" by using 100 ounces charged to a credit card ordered from ...

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Thread: 2000$ gold

  1. #11
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    See charts for today: Silver and Gold jolt upward

    I track the "street price" by using 100 ounces charged to a credit card ordered from
    https://www.jmbullion.com/silver/
    , the coin being a 2020 silver dollar in stock.

    This equates to the current street price of $37.43 per ounce.
    Last edited by jimcosta; 08-04-2020 at 03:27 PM.
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  2. #12
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    Quote Originally Posted by jimcosta View Post
    The silver pros have been predicting that silver would shoot up at this time.
    They said first it would have several dollar days, which it has.
    Then in a week or so it would have $2 days over a week or so, then go to $5 daily increases.

    After that it would be free floating to the moon.

    We have already had one $2 day and today we had a $1.65 day.

    Could it be that the precious metals are now more free floating rather than all fixed by JP Morgan?
    If we ARE going into a free float, I would look for the ratio between an ounce of gold and silver to narrow. They only pull about 850,000 ounces of silver from the ground yearly... and it is nearly all earmarked for technological usage which often consumes it, making it unrecoverable. The ratio of 65-1 we have been seeing for years certainly seems manipulated: it is a ridiculous ratio, both historically (15-1 on average) and given the present rapid consumption of silver. Hang onto your silver folks.
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  3. #13
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    In my humble(LOL) opinion gold has reached the point where it is useless to a prepper for a survival purpose. It is so valuable that it is almost valueless. One ounce of gold is worth 80 silver dollars. Imagine that you want to buy a chicken and they want 25 dollars for it and will take a silver dollar in trade. Now, how well would it be to try and cut an ounce of gold into 80 pieces? 25 dollars of gold would be smaller than a BB. Would you sell your chicken for a TINY speck of gold in a survival situation? Right now it is worth 2000 dollars but I think that its value would plummet in a TEOTWAWKI situation. Your one coin will shortly not stand up very well to 80 silver eagles. I lucked out, I bought about 500 silver eagles when they were at 8 dollars a coin. I went for silver in 1999 just in case. I also bought a thousand dollars worth of gold at about 250 dollars an ounce at the same time.
    Last edited by TexDanm; 08-04-2020 at 08:20 PM.
    StratMaster likes this.

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  5. #14
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    Quote Originally Posted by TexDanm View Post
    In my humble(LOL) opinion gold has reached the point where it is useless to a prepper for a survival purpose. It is so valuable that it is almost valueless. One ounce of gold is worth 80 silver dollars. Imagine that you want to buy a chicken and they want 25 dollars for it and will take a silver dollar in trade. Now, how well would it be to try and cut an ounce of gold into 80 pieces? 25 dollars of gold would be smaller than a BB. Would you sell your chicken for a TINY speck of gold in a survival situation? Right now it is worth 2000 dollars but I think that its value would plummet in a TEOTWAWKI situation. Your one coin will shortly not stand up very well to 80 silver eagles. I lucked out, I bought about 500 silver eagles when they were at 8 dollars a coin. I went for silver in 1999 just in case. I also bought a thousand dollars worth of gold at about 250 dollars an ounce at the same time.
    I never thought either would be useful, or actually traded in much quantity during SHTF. Values set on items in short supply will be arbitrary and situational, just as you have described. PM's are a HEDGE. If a currency collapses, eventually it is replaced with a new currency. So far this has occurred every time. So, barring TEOTWAWKI, when the dollar collapses it will be replaced. PM's will then have protected your purchasing power as applied to the new currency. Until then... not much use. I hold gold and silver, but only because I had dollars far enough in excess of my preps, meaning: I can survive up to a decade on what I have stored. IMO PM's in quantity are for those who A) have already enough preps in place, and B) have many many excess dollars in addition, and C) have a high level of alarm as per our currency health or pending economic collapse.
    One COULD make the argument for silver as an INVESTMENT, and not just a hedge... but that's a separate discussion.
    65mustang and Inor like this.
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  6. #15
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    Yesterday was a $2.50 day for silver.

    At 8:00 AM yesterday Silver spot price was $24.44.
    At 5:45 AM today it is $26.98. That is a $2.54 increase.

    Street price is currently: $38.46.

    Lets see if this pattern holds for a day or two.
    Last edited by jimcosta; 08-05-2020 at 05:49 AM.
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  7. #16
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    Looks like it’s gonna break the $28 mark as you predicted a few days ago.
    65mustang likes this.

  8. #17
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    Chiefster: Sometimes my wife mumbles at me. I can't tell if she is calling me a "Woosie" or is saying her usual "We'll see."
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  9. #18
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    Well it broke $28 today. The world done gone crazy.

  10. #19
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    At 5:25 PM today,
    Spot price is: $29.52
    Street Price is: $40.93

    Today's increase is: $2.61,
    And the night shift is just waking up!
    Last edited by jimcosta; 08-06-2020 at 05:31 PM.
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  11. #20
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    I'm not really sure why but gold and silver seem to always have value. Everywhere in the world throughout history as soon as people rise from a hand to mouth existance they begin to place a value on precious metals and gemstones. The only places that didn't do this were places that didn't have these available and there they used some other rare thing or hard and slow to make things as currency.

    The value of dollar bills are going to fall FAST but as soon as people start to move around again they are going to need to have some medium of exchange and I am betting on silver as a more useful level of value than gold. I do have a lot of the small dollar coins. you can't lose on them. as long as there is any value to American currency they will be worth at least a dollar and eventually if TEOTWAWKI doesn't happen in 20 or 30 years maybe my Grandbaby wil get something for them as collectibles. they might even have value for commerce anyway. As people have gone to plastic to pay things the stores don't keep much change on hand and the banks will be the first thing to go down during any major disruption. I learned a long time ago that when you are buying something from a person rather than a store that CASH is magic. I counted out 3000 dollars one time to a Car dealer and told him that is what I would give him for a car that he was selling, or trying to sell for over 4000, dollars. Before I laid out the cast he was not budging. When I started to pick it up and get up he caved. I even made him pay the taxes and title transfer. Cash seems to bring out the greed in a way that a checkbook just doesn't touch. I usually do cash on anything that is less than about 6000 dollars if I am dealing with a private person.

    After the fall I assure you that there are going to be a lot of people that hold on to the idea that their money still has value. A lot of them are probably going to die with bails of cash. You can't eat money and when people are struggling to find enough to eat money is of less use than toilet paper. If things fall as fast as I expect the first year, as long as you are not in the big cities, food won't be too hard to come by. But there won't be any crops laid down the next year and no way to transport it to where people are. There are places like Las Vegas that will be death traps for those that don't get out FAST for example. The Same for any of the mega cities that are built in places thousands of miles from the places that feed them.

    I have always picked up any silver or jewelry for trade goods. I bought my Winchester 357 Trapper with trade silver and a nice diamond ring at a gun show. i only paid a little over a hundred dollars for the ring. The gold and the loose diamond on it were worth twice that. Take a diamond ring to a pawn shop some time and see what they will give you. I didn't screw the guy. They hadn't even offered him a hundred at the pawnshop. People like shiny things. They always have and always will.

 

 
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