Author Topic: Anyone Buying MCC at these Levels?  (Read 825 times)

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Offline wg

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Re: Anyone Buying MCC at these Levels?
« Reply #15 on: March 26, 2020, 06:24:46 AM »
( .. )
If Arif is right, my sounces of Ag will do me no good. If silver tags along for the ride, I'll be quite happy :)

...

Quote
.... There is a major silver shortage and virtually impossible to find. Smaller quantities of silver fetch a 100% markup on spot.

With very little physical available and demand substantial, there is soon likely to be pressure on the paper market. Investors who have bought gold and silver futures will be concerned of the contracts being honoured and ask for delivery.

What we are seeing now is probably the beginning of the end of the gold and silver paper market.....

https://goldswitzerland.com/swiss-gold-refiners-cease-production-end-of-paper-market/


Offline pandamonium

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Re: Anyone Buying MCC at these Levels?
« Reply #16 on: March 27, 2020, 08:48:33 AM »
Rare Coin Collector.....remember when they were completely sold out years ago?

1986P G10Y PF 69 UC  1/10   proof gold panda    -bid-     Ebay 333556319601

Read "condition" or "sellers notes"...

Silver bullion is not selling for $10 over spot.    It is now double spot price.    It will only go up from here as the virus will not allow transportation/refinement of gold/silver....

Golly, $1,000 oz silver?    Who would ever post something like that?   OK, I did years ago.     Lets see how this plays out.....

Offline Mirkkanen

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Re: Anyone Buying MCC at these Levels?
« Reply #17 on: March 27, 2020, 10:48:21 PM »
Pandamonium, lets.see.how much you believe in Ag :)

If silver goes to $1,000/oz in the next 3 years, I will give you 3 ounces (I'll be super wealthy so I won't mind). If silver does not even hit $100/oz in the next 3 years, will you send me 5 oz?

Will wait patiently for a reply . . .

Offline pandamonium

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Re: Anyone Buying MCC at these Levels?
« Reply #18 on: March 28, 2020, 07:49:17 AM »
OK and i agree.    It better be real silver.     Can i have my choice of say 1984 PF 69 HK Expo silver panda as 1 oz of silver?......

Offline Mirkkanen

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Re: Anyone Buying MCC at these Levels?
« Reply #19 on: March 28, 2020, 10:14:54 AM »
hah, well, I don't have any of thoooose ounces. I was talking just regular oz of bullion silver.

Offline KeyDate1/2ozPandas

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Re: Anyone Buying MCC at these Levels?
« Reply #20 on: March 28, 2020, 12:51:18 PM »
With silver spot above $14, you can easily buy 50,000-100,000 oz of silver eagles ($21/oz), generic rounds ($18/oz) and bars ($17/oz) on any given day in the US wholesale market.  There is no shortage of silver, what there is a shortage of is silver at spot prices, which happens when prices decline rapidly.  After a few weeks or months of prices at the new level spreads contract as new sellers give up their silver near historic low spreads of $0-$2/oz.  My view is baby boomers (dealers, investors, collectors) are trying to pump the price the up so they can exit their position profitably because they were convinced to buy it back in 2000s on misinformation about supply constraints and unlimited demand from industries, it never materialized similar to peak oil theories (I took my losses on peak oil type investments, never again I hope).  Don't bail the baby boomers out, let them give you their silver for $5/oz when they all have to sell for expenses in 5-15 years, then it will safe to invest in silver for the longer-term play if industrial demand exists for the material.  I have seen this play out in the stamps market for years, it used to be postage stamps from 1970-1990s would sell for near face value, then 80%, then 65%, then 55%, now below 50%.  Baby boomers and their estates are selling faster than anyone is buying.  Any time you get a package from me covered in 15 cents - 40 cent stamps remember to sell your silver bullion (not numismatic) before baby boomers do. 

Gold is portable and is considered a currency, its industrial uses are limited and its price trades on fear and greed.  With every country printing 20-40% of their GDP in the coming months gold is positioned to do very well.  Gold is at all-time highs in almost all world currencies, except the mighty dollar which is the strongest currency in the world and probably will remain that way unless we go to war.  Right now common gold eagles are +$150/oz, common modern world gold (including pandas) +$80/oz up from -$10/oz in early February.  It is hard to find modern gold to purchase in today's market may be 50-100/oz a day, there were many sellers in early February when gold was $1670, but now at $1630 very few are will to part with their gold. 


Offline pandamonium

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Re: Anyone Buying MCC at these Levels?
« Reply #21 on: March 28, 2020, 07:25:47 PM »
The US wholesale market says they are empty.     The miners cannot sell, the transporters cannot ship, the refineries cannot find supply or refine, the mints cannot strike coins/medals due to virus shutdown.    Even if they could, the demand would overwhelm supply. 
 
In a panic world, prices can jump up high and quick.    Looks like we are entering into panic buying.   The next few days/weeks should give us a good idea of what will happen.   This should be very interesting.    All my collector friends are watching bullion prices and the Chinese market.    Like i said, when supply is gone then ebay will be the next target.    We will soon find out how panic behavior affects prices...

One example is Mountain House #10 tins.    Ebay beef stew 2 tins sold for $100 each a week or two ago due to panic buying of food across the US.   That has calmed down a bit and a tin of beef stew just sold on ebay for about $40 plus.   
I just got back from my monthly grocery shopping today.   Inflation is beginning.   I paid about 10% to 20% more for groceries this month compared to last month.....

Offline KeepOnTrying!

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Re: Anyone Buying MCC at these Levels?
« Reply #22 on: March 30, 2020, 02:35:25 PM »
With silver spot above $14, you can easily buy 50,000-100,000 oz of silver eagles ($21/oz), generic rounds ($18/oz) and bars ($17/oz) on any given day in the US wholesale market.  There is no shortage of silver, what there is a shortage of is silver at spot prices, which happens when prices decline rapidly.  After a few weeks or months of prices at the new level spreads contract as new sellers give up their silver near historic low spreads of $0-$2/oz.  My view is baby boomers (dealers, investors, collectors) are trying to pump the price the up so they can exit their position profitably because they were convinced to buy it back in 2000s on misinformation about supply constraints and unlimited demand from industries, it never materialized similar to peak oil theories (I took my losses on peak oil type investments, never again I hope).  Don't bail the baby boomers out, let them give you their silver for $5/oz when they all have to sell for expenses in 5-15 years, then it will safe to invest in silver for the longer-term play if industrial demand exists for the material.  I have seen this play out in the stamps market for years, it used to be postage stamps from 1970-1990s would sell for near face value, then 80%, then 65%, then 55%, now below 50%.  Baby boomers and their estates are selling faster than anyone is buying.  Any time you get a package from me covered in 15 cents - 40 cent stamps remember to sell your silver bullion (not numismatic) before baby boomers do. 

Gold is portable and is considered a currency, its industrial uses are limited and its price trades on fear and greed.  With every country printing 20-40% of their GDP in the coming months gold is positioned to do very well.  Gold is at all-time highs in almost all world currencies, except the mighty dollar which is the strongest currency in the world and probably will remain that way unless we go to war.  Right now common gold eagles are +$150/oz, common modern world gold (including pandas) +$80/oz up from -$10/oz in early February.  It is hard to find modern gold to purchase in today's market may be 50-100/oz a day, there were many sellers in early February when gold was $1670, but now at $1630 very few are will to part with their gold. 



Great analysis and strategy. +1.
KeepOnTrying and Never Give Up!
That lion is also after you!

Offline Mirkkanen

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Re: Anyone Buying MCC at these Levels?
« Reply #23 on: March 30, 2020, 02:42:08 PM »
After reading KeyDate's comment, if anyone sitting on "too large" a position of silver bullion wants to exit his/her position, I will help out by buying a few hundred ounces at $14/oz. PM me?

In the meantime, still watching market movements. I am thinking we'll see another dip lower in stocks. I hope I am right . . .


Offline bonke

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Re: Anyone Buying MCC at these Levels?
« Reply #24 on: March 30, 2020, 04:09:39 PM »
I am interested in buying

1)  Pan 25b - 1985 China gold 10y panda - Ghost Temple Die State

2)  Pan 30b - 1986 China gold 100y panda - Ghost Date Die State

3)  Pan 189b - 1993 China gold 100y panda - Textured Numerals

Without doubt, I want these in NGC MS69 holders and without problems, such as red spots, toning, etc.

If you have these available, please send me a personal message with slab numbers and price.  I will respond as soon as I see the message.

Mark Bonke

ps  Yes, I am buying modern Chinese coins at these levels.  This pulls my request back on topic.