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RE: Why Gold ? - 12/12/2009 11:35:42 AM

Aneirin

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quote:

ORIGINAL: DemonKia

Metallurgical fetishism? That's my answer, generally . . . .. (My ex, who was a numismatist & a freak about big rusting chunks of iron, is the one who came up with that phrase . . . . )

&, please note: Peak Gold . . . . .. It's a new thought to me, so I haven't worked out much of anything about what it 'means' . . . .

Have fun!

I love it !, metallurgical fetishism, hahahaha, I seem to have that problem too, it seems I like rusty iron, and other forms of decayed metal.

Regarding the American silver dollars and half dollars, I believe when they say silver, that is not quite true, a lovelly coin I will say that, convex on one side and concave on the other, superb finger interest, but not entirely silver. I think there was a cut off time in the 1960s, where in the case of the half dollar at least, became only part silver, the other part other base metals. I have a 1968 so called silver half dollar, I think it is one of the ones which was not pure silver, I might be wrong, but check the situation regarding the composition of silver, it was in the 1960s, possibly mid sixties the change happened.

In the uk, none of our coinage is work it's face value, with the possible exception of the copper lower denominations, they being pure copper, are at least climbing in scrap value, posibly the reason the mint is now hauling them in and replacing with steel alloy faced with a thin layer of copper for colour. You know you are being conned, when you can pick up a copper coin with a magnet, and it rusts in the prescence of moisture. Our last silver coin, wa I believe one shilling of 1922, after that, currency was not worth the money its face value said it was, promissory currency only, and hey, we all know promises are hard to keep.

We are in effect, being paid in promises

< Message edited by Aneirin -- 12/12/2009 11:38:36 AM >

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Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha

Conservatism is distrust of people tempered by fear - William Gladstone

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Post #: 41

RE: Why Gold ? - 12/12/2009 4:52:43 PM

pahunkboy

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An- silver halfs 1965-1969 inclusive are 40% silver. Prior to 1965 -they were 90%. Copper is the other component.

A 40% half ranges in price from $3.29- $7. I bought a nice batch for $1.50.

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Post #: 42

RE: Why Gold ? - 12/14/2009 11:57:39 PM

ManInTheBox

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I'm not much for believing that stuff. If gold was that much more valuable than money and didn't depreciate in value why are all these commercials like goldline or whatever looking to sell it for paper money? The same thing they're claiming it's worth more than! The only gold I put my faith in is that goldbond powder :p

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Post #: 43

RE: Why Gold ? - 12/15/2009 12:42:19 AM

Aneirin

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Yesterday, I bought some three millimeter diameter sterling silver round wire for drawing down and making xmas pressies from, but I was severely shocked at the cost, for it had quadrupled in price in just over a year. So that is that, though I like working silver, there will be very little of that in the future, way too expensive, aluminum alloy, other non ferrous metals, or iron in future I think.In fact, though it is pretty worthless, some aluminum alloys have some very useful characteristics for jewellery making.

But reference those on the tv and other gold hunting outfits, no matter how desperate you are, don't use them, for you will never get the scrap worth, and if there are any jewels present, they are giving you a price for the gold. I have heard too many horror stories even about gold that was asked for back, never being quite the same after. If you have gold to rid, find it's carat, it will be printed with the assay marks, weigh the stuff with those little portable low range digital scales some people have, and find the scrap value yourself and there seek a fair price. To note though, scrap gold is not the worth of bullion, due to the extraction of the metal from the object, the refining etc. But a better thing would be, hang onto it for as long as you can as if gold is propping up currency, it is literally, worth it's weight in gold.

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Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha

Conservatism is distrust of people tempered by fear - William Gladstone

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Post #: 44

RE: Why Gold ? - 12/15/2009 1:11:09 AM

pahunkboy

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Some new aps are coming- silver in batteries- as well is some surfaces per the anti-microbial properties.

Laptop computers - namely - will have silver type batteries soon.

quadrupled seems abit high- maybe shop around on that- silver HAS tho doubled in the past 12 months.

Both Silver and Gold are in a super bull cycle. There is no bubble because less then 3% of Americans even own it.

Coins and bullion are more versatile then jewelry and trinkets. Easier to cash in.

As to if they will go up in a straight line- no. But the long term, and medium term- outlook is major bull.

Chapman and Ted Butler both think a scandal is coming at the COMEX or other exchange. Such a scandal will lead to rapid increase in PMs. Those places- digital and paper gold- been selling more then they own. and the breaking point is close.

One can buy today- and not be too worried about buying on a dip. Silver, should outperform gold- but is also more volital.

Says Butler:

Recently, I have raised the possibility that silver trading might be terminated on the world’s largest silver exchange, the COMEX (The Commodity Exchange, Inc.), now owned by the CME Group, which in turn is the largest futures exchange in the world. I hope everyone realizes that this is an extreme speculation on my part, and that the likelihood of such an event must be considered remote. Still, I am somewhat haunted by this possibility and I would like to share the reasoning behind my concern. Even if my fears never come to fruition, I feel I would be doing a disservice to subscribers by not fully airing the subject.
Any cessation of trading of COMEX silver would be a very big deal indeed. It would send shockwaves of unprecedented proportions throughout the silver world. It’s not hard to imagine shockwaves extending beyond silver. That’s because the COMEX is the most important pricing mechanism for silver. All silver pricing throughout the world emanates from the COMEX. In this day and age of instant electronic price and news dissemination, any interruption of trading on the COMEX would have immediate and profound implications.
http://news.silverseek.com/SilverSeek/1260816780.php

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Post #: 45

RE: Why Gold ? - 12/15/2009 1:55:32 AM

Aneirin

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Where I got the silver, it was cheapish anyway, it being an art college outlet, where silversmithing is taught. Perhaps the silver has at last hit it's true cost, 50 cm of 3mm round wire, locally, another outlet, though quite pricey sells that at £34.50, so, it seems I still got it cheap, £10 less than that price, but still expensive in these times.

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Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha

Conservatism is distrust of people tempered by fear - William Gladstone

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Post #: 46

RE: Why Gold ? - 12/15/2009 2:34:28 PM

UncleNasty

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quote:

ORIGINAL: servantforuse

If you bought gold last week at $1200.00 an ounce, you just lost a bunch of money. It is trading today at $1120..

If you bought 5 or 6 years ago you would by now have made a killing. It was at about $300.00/oz. then so the $80.00 reduction from last week isn't much.

Precious metals have maintained more value, or purchasing power, stability than any other thing used as a medium of exchange, and that for thousands of years.

Uncle Nasty

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Post #: 47

RE: Why Gold ? - 12/15/2009 3:49:23 PM

pahunkboy

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quote:

ORIGINAL: UncleNasty

quote:

ORIGINAL: servantforuse

If you bought gold last week at $1200.00 an ounce, you just lost a bunch of money. It is trading today at $1120..

If you bought 5 or 6 years ago you would by now have made a killing. It was at about $300.00/oz. then so the $80.00 reduction from last week isn't much.

Precious metals have maintained more value, or purchasing power, stability than any other thing used as a medium of exchange, and that for thousands of years.

Uncle Nasty