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overtheedge
Member since May 2012
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THE ONLY MARKETS THAT DON’T NEED “HELP”

- Andy Hoffman - Miles Franklin

Really?
Perhaps in NZ the people have some ability to recognize gold and its fineness, but here in the USA that ability does NOT exist even at the refinery.
For instance, the refiners I have dealt with do an assay of all incoming gold unless it is a recognizable minted coin.
Then the exchange value is less than the assayed value using spot pricing.
Part of this difference is the assay costs, fabrication costs, marketing the gold and room for profit.
On 0.823 Au and 0.173 Ag, my average return was 72% of spot for gross weight in <10ozt lots and rising to 75-76% of gross weight in larger lots for the same assay.
Have you ever actually sold gold shot, gold dust or nuggets?

I further notice you hedged your claims for gold shot by adding the idea of junk silver coins as possibly useful.

Silver is the preferred metal for token coinage.
The people do recognize silver coins and medallions.
It helps that these coins and medallions have stamped assays and weights.
Something gold shot lacks,

Yes, many gold coins are too heavy for modest purchases.
A 1/10th ounce gold coin will still have a valuation of about $120USD making exchanges for tangibles require smaller weights.
But even this problem can be reduced by the use of gram gold cards. IGR, for one, commonly mints 0.5 gram cards.
At $1100USD, these 0.5 gram cards have a spot value of $17.68USD.
Roughly the same as 1ozt silver coins and medallions.
The only problem with these small weight cards is the heavy seigniorage and premiums which makes silver a more economical buy.

The idea that industrial use will decline rendering silver a has-been is silly at best and totally discounts history.
Silver was in heavy use before this latest industrial demand occured.
Predominantly in the form of token coinage used by the general populace.

Count me among those that has no idea what the gold-silver exchange ratio will be.
Demand for token coinage might reduce the ratio, while recovery from base metal refining could alter it appreciably.
If base metal production drops off more, silver supply will drop even more reducing the ratio.
Recovery of silver from many industrial uses is far from being economically viable.
For many plated goods, the salvage value is in the base metals and not in the thin coat of silver.
Supposedly during the early and mid Middle Ages in England, the Ag/Au ratio was 12:1 with the average serf wage at 12ozt sterling (0.916 Ag) per annum. The lord of the manor house might make a few thousand pounds sterling. Consider lbs as the abreviation and the stylized £ for the British (monetary) Pound.
Perhaps what was shall be again.

Might I suggest that you shouldn't believe me or anyone else including the financial analysts.
Quit searching for an opinion you like and then plagiarize it as your own.
Do your own research and reach your own conclusions. The term is due diligence.
You are the one that has to live with the outcome of your decision.

Commented 3263 days ago

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