Gold and Silver seem to be doing somewhat better lately as far as the spot prices are concerned.
I image that most of us have a little "Stash" of Stirling, round 50c's or 50% "Junkers" that we have put aside over the years.
It will be interesting to see just high the prices will get over the next couple of Months :angel:
Both gold and silver have a way to go before they get to where they were in the middle of last year.
(http://www.kitco.com/LFgif/au0365nys.gif)
(http://www.kitco.com/LFgif/ag0365nys.gif)
I remember a few years ago, one of the investment guys on the net predicting silver would top $100. It may have been in the year 2525 (1969 doesn't seem that long ago either) he was referring to, or he just had lots to sell :angel: :scratch_one-s_head: ;)
Silver selling for $100 per oz is pretty much in the realms of fantasy as far as I am concerned But I did sell a heap of scrap silver for $45 per oz not that many years ago :angel:
I'm just wondering in regards to the price of Silver.
So, so much of it went into the photography industry ie the making of film, & developing, now that's it's all digital, there's all that silver not being used. Supply, demand type of thing.
Quote from: 'interest' pid='107772' dateline='1492472511'I'm just wondering in regards to the price of Silver.
So, so much of it went into the photography industry ie the making of film, & developing, now that's it's all digital, there's all that silver not being used. Supply, demand type of thing.
Solar panels alone use heaps of silver and they are getting more popular every year.
Gold only has a limited industrial use But Silver has always been used as an industrial metal albeit an expensive one.
When the World stopped using Silver in its coinage I imagine that there would have been a "Glut" of it But I also imagine that this surplus would have been pretty much used up by now and that there would be more reliance on the newly mined metal now.
My interest in the PM prices has more to do with coins than anything else as usually when the spot prices "Peak" the better coins come out of hiding/storage as people take advantage of the higher spot prices.
I have picked up some nice coins when this happens at very reasonable prices because the market tends to get flooded at these times with everyone trying to cash in on the higher spot prices at the same time :good:
Strong Industrial demand for Silver apparently but it doesn't seem to affect price,it appears locked into the Gold price.
Gold is extensively used in Computers,Phones,Aerospace Industry etc. but i think they alloy it as Jewellery and associated uses accounts for nearly 80% of demand according to Google.
I think that the spot prices are affected more by futures traders dealing in paper PM's than the sales of the actual Physical Metals :dodgy:
From what I can work out there is far more Paper Silver and Gold being traded than there are physical metals available :angel:
I note that silver (and gold) price is up so thought I should update my silver coin bullion value spreadsheet. Almost exactly twelve months since I last updated it.
So plugged in Kitco silver price (https://www.kitco.com/images/live/silver.gif?0.7260602903966408) and RBA exchange rate (https://www.rba.gov.au/statistics/frequency/exchange-rates.html) for yesterday. Just over 50% increase in value for the period!
(https://www.australian-coins.net/gallery/albums/userpics/10055/139/Silver.jpg)
1966 50¢ coins were selling around $10 to $12 each and now $14 to $16 each on eBay.
I am following the price of silver very closely, as I
have 256 ounces sitting in the Perth mint. I may be
selling very shortly. :)
Looks like a good time to sell some. Depending on what you paid could keep some and that would owe you virtually nothing.
WIN-WIN Instant return plus still have a little nest egg.
Jeff,
Funny how silver adds up. I have about 5kg of odd pre-decimal silver in a junk box that I dip into now and then.
On the back of an envelope: at about $15 an Oz (half and half pre/post 46) that makes about $2,200 worth?
Did I get the decimal points right?
Fred.
Say 70% silver average gives 3.5kg ASW.
Price is quoted in USD per troy ounce (31g close enough).
So 3500/31=about 110 oz silver content.
Conversion from USD to AUD gives around AUD$34.50 per oz.
$34.5x110=$3,800 near enough.
Not sure where you got $15 per oz. Post '46 (50% silver) comes in a bit higher than that.
Silver price can be volatile. Just checked and New York spot price is now 5% higher than when I did my upgrade four hours ago. So your stash is pushing $4,000 now. Could be $3,000 tomorrow.........or $5,000!
Quote from: 'JeffH' pid='122877' dateline='1595885621'1966 50¢ coins were selling around $10 to $12 each and now $14 to $16 each on eBay.
I am very happy that triggersmob got me one a long time ago :)
The price of silver is very volatible. Always has been. Picking the right time to sell or buy is very trickey.
I have stashed away 1,023 x 1966 50c pieces and 5.8 kilos of pre decimal silver coins as well as quite a bit of gold holdings.
After reviewing my precious metal prices earlier today, I have made a nice little profit on todays prices as against when I secured the stuff years ago.
But you didn't sell them? Only a "paper profit" then. Price could plummet tomorrow -unlikely though.
A few years back I was buying up any 1966 50¢ available at less than $7 per. A businessman in Hong Kong was then buying them from me at $10 each. He had been buying many small lots on eBay but postage was killing the price. Doing it that way saved him because I only sent a batch when I had enough to spread the postage cost. He had been a student here years ago and liked those coins; said he never had enough money then to hoard them. They were part of his superannuation strategy so he should be sitting pretty now.
And of course, a tidy profit for me.
Hi Jeff, re #12 yeah I dont know where the $15 came from either, I was a bit off the pace there!
If I visualise the silver as a pile of $100 notes it does look more attractive!
I'll sit on it and pass it on to my heirs.
Fred.
Turn it into $100 notes I say while the price is high.
And don't make the mistake of waiting for it to peak. Too many have lost by trying that.
I paid just over $27 per ounce a few years ago, when silver was predicted to rise
and indeed it did. From memory I think it got to about $40 per ounce, but I hung
in there too long and the price crashed again. It has taken this long to get ahead
again. I might sell soon and put the money in to my superannuation.
Quote from: 'Triggersmob' pid='122878' dateline='1595886493'I am following the price of silver very closely, as I
have 256 ounces sitting in the Perth mint. I may be
selling very shortly. :)
That's a nice little hoard but why keep them at the mint? Don't you have to pay them to hold them for you?
Is that so you aren't so attached to them so when the time comes you can sell them?
I prefer to keep mine here so I can Scrooge McDuck through them.
Quote from: 'gweidion' pid='122894' dateline='1595993181'Quote from: 'Triggersmob' pid='122878' dateline='1595886493'I am following the price of silver very closely, as I
have 256 ounces sitting in the Perth mint. I may be
selling very shortly. :)
That's a nice little hoard but why keep them at the mint? Don't you have to pay them to hold them for you?
Is that so you aren't so attached to them so when the time comes you can sell them?
I prefer to keep mine here so I can Scrooge McDuck through them.
I purchased the silver from the Perth mint and at the time it was held for you for free
and it still is as long as I don't purchase more. They changed the rule just after I bought.
The price of silver is up to about AUD$40 again, at long last.
Will wait and see what happens next week. Hopefully the
price will rise even more. My finger is ready to push the
button though. :)
Silver topped AU$40 Thursday then dropped slightly and seems to be holding fairly steady at the moment.
(https://www.kitco.com/LFgif/ag0030lns.gif)
I wonder if $50 is too much to hope for. :)
Always the way Jeff! I had to sell off my good (QE) florins to raise some money around April. Likewise those bloody double header $1 (which I only asked issue price for). Now they are going for like $40 ........ ($15 ..... bah humbug). :laugh2:
Uni,
My philosophy is BUY LOW, SELL HIGH.
In practice it seems to operate in reverse.
Steve,
I think $50 is too optimistic. But what would i know -even the experts don't agree lately.
Me too Jeff, I would never have sold if I didn't need to. My gut told me yonks ago that the double headers would be good ..... (I think put up a post) ........ though I only had 10 ...... now I see $150 go to $400 ......... so sad, but that's what happens ..... no regrets on my end as the people I sold to seemed like nice people and they weren't making any more at the time. :-) :winkextra:
[quote="JeffH" pid='122958' dateline='1596864865']
My philosophy is BUY LOW, SELL HIGH.
In practice it seems to operate in reverse.
[/quote]
My philosophy is buy low, buy medium, try not to buy ridiculously high. Sell never. Let your kids or grandkids sort that out.
(Unless I'm dumping coins I no longer want or need, in which case I'm hoping to break even.)