I'll let the genius redli answer, then I'll give you my take on that question, if you're interested.
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OT: Why is Warren Buffet always ahead of the game?
- Thread starter itseasyas1-2-3
- Start date
I'll be waiting for your response. You and I see eye to eye on this subject. Gave me information on k bars. I never heard of them until you posted about them. I have always tried to keep my net wealth to 9% gold and silver but I have US coins not k bars. So thanks for that!
My nephew said: Oh for sure. Sometimes it'll go up, sometimes down. Sometimes it'll go up a lot, sometimes down a lot. There will be a halving in 2028, maybe that'll make the price go up. If you buy at the right time, you'll make money.
My dad’s VA loan was 2% if I remember right back in the 60s.
I'll answer the question about the karatbars, but I'm waiting for redli to give his thoughts on BTC before I post my thoughts on it. Also, as far as the silver coins, are you talking Eagles, Rounds or pre-1964 junk silver? I like and own everyone of them.
I love karatbars. I have never had to use any yet, but I think it will be awesome to use them should that time arise. As I said, they are kind of like a kit kat chocolate bar. You just snap off a gram or two and pay for whatever you're buying. I haven't purchased any for several months now, but I do know they have a fairly high premium.
A karatbar has 50 grams of gold. I'll assume you know a 1 oz gold coin is 31 grams, so a karatbar is about 1.6 ounces total. For example, say gold is $ 2,650.00 an ounce, so 1.6 oz would be about $ 4,240.00, not including the spot. It could be 200.00-300.00, but I don't know since I haven't purchased any lately.
Just divide the 4,240.00 by 50 and you know how much each portion is worth, i.e. (4,240.00 divided by 50 = 84.80). I got that $4,240 by taking the 1 ounce price of gold at 2,650 X 1.6 ounces. So when I was buying a karatbar, I was actually buying 1.6 ounces of gold.
I've never been bothered by the daily/weekly price of gold or silver. Like everything else there will be rises and falls. The lowering of the silver price today was expected with the DJT win.
I imagine the large commercial banks that have huge silver shorts took a shot today to buy large and try to mitigate some of their impending losses.
NO doubt in my mind, the price will bounce right back up in a day or so. Without even going to the coin shop tomorrow, but I will go to the local pawn shop, and if they have silver, and the price is reasonable, I will likely buy all of it. And what I don't buy, my wife or daughter will. It makes no difference because it all remains in our family unit.
I can understand why some folks, in fact, many folks are not into gold or silver. It's all good, one day, they will realize that they have have misjudged the situation.
As the commercial banks were buying large today, so were China and India, so the silver reserve at the LBMA and the CONEX likely took a beating today on deliverable silver. That bill for all those silver shorts is going to becoming due before long.
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Right on. I buy eagles and 10th oz gold coins. Nebraska has no tax with precious metal purchases under ten grand. I don't think I'll see the need for k bars but maybe my children will and they won't have to buy them because I'll die in a state with no inheritance tax, I won't be staying in Nebraska if that tax stays on.
Death and inheritance taxes can kiss my grits, I already paid taxes on that money.
The reason I mentioned pre-1964 junk silver is because of their utility in making small purchases.
Anytime I can buy junk silver for about 22.5 X's face amount, it's a fair price.
Good luck. Eagles and constitution coinage is best since it's the coin of the realm.
I have some old siver certificates in my safe for laughs. I always wanted to walk into a bank and tell them I'd like to exchange these for silver now. haha
Tell your nephew about a year from now plan for the party. He'll know what I'm saying.
