With All The Turmoil We've Been Having !

@luvmycam - I liked reading your post.

"With COVID-19 continuing to spread across the globe and disrupting economies and a potential vaccine being at least 6 months away I personally think precious metals will go further up in the months to come. 30% unemployment and the great damage to the economy is going to take years, possibly a decade to rectify. The recent social unrest adds another layer of complexity, further putting strain on small business, causing additional job losses and bankruptcies during the most inopportune time possible."


All this sounds hugely deflationary. People who have lost jobs, burned thru savings and taken on more debt will have no appetite for PMs. Doesn't mean gold won't go up. I have been interested in PMs only recently but the premiums to spot are really high right now. So there is plenty of demand but a disrupted supply chain. One oz gold routinely go for $1850-$1900 on ebay and that is pretty close to the all time highs of 2011.

Of the majors, Great Britain is the first to do actual "printing" of money. If everybody ends up printing then maybe not a big deal. But if they do it in a vacuum, look out below for the British pound. As recently as 2007, the pound was double the USD. It is now $1.35 and trending lower. If anybody should be buying gold, it would be them.

Sorry to heat that. Not sure of your age, but the writing's been on the wall for over a decade. In 10 years these prices will be negligent.

Annnd...then it's gone. Like all paper can go. PM's aren't investments, they help preserve wealth when fiat and stocks go "poof".

I would hope we could agree to disagree, but 5,000 years of PM history tells a different story. PM's have always had value.

Yes, 5000 illustrious years of squabbles large and small giving rise to massive gains in technology and agriculture and medicine, helping millions upon millions to rise up out of poverty.  All courtesy of fiat currency.

Yes if you are in Venezuela, things have gone poof, or if you are in Argentina things go poof over and over again. 
 
Lucky we live here where odds of that happening are nil.

I guess if you were of the mindset that the fiat currency collapse is just around the corner, you would never sell. But if you're the average guy you might try and sell when the premiums are the highest and try and buy when the premiums are the lowest.

Premiums to spot seem to be high but how does one capture it?

Sellers on ebay might get as much as $1900 for a 1 oz gold coin. Subtract $190 for ebay and $57 for PayPal and maybe $30 for insured shipping and you're left with about $1625. Your LCS MIGHT give you spot but most likely spot -$30 to -$50.

Buy $2000 worth of gold or silver today. Put it in a safe place along with $2000 worth of "Fiat" cash money. Dust them off in 10 years. Come back then and let us know which has more buying power...

Fiat / Cash depreciates over time. Easier to use yes , but easier to "Abuse" or over print.

A Gold backed dollar is sound money...

**Please don't post anything politically-charged. Some of your reply has been removed.**

1971, United States President, Richard Nixon, introduced a series of economic measures including canceling the direct convertibility of dollars into gold due to declining gold reserves.

"Although fiat money is viewed as a more stable currency that can cushion against recessions, the global financial crisis proved otherwise. Even though the Federal Reserve controls the money supply, it was not able to prevent the crisis from happening.

Critics of fiat money argue that the limited supply of gold makes it a more stable currency than fiat money that has an unlimited supply."

https://corporatefinanceinstitute.c...ey-currency/