General Poor Man's Game: Gold,Silver,Platinum, and Palladium

[Enock-O-Lypse Now!]

Precious Metals, it's a game any of us can play. I'm going to try and help you poor fucks make some money off the Precious Metals game.

First lets check out the current spot prices as of 10/19/2019
Kitco list prices:

Gold: $1489.60
Silver: $17.51
Platinum: $890
Palladium: $1736


Ok, now that we know spot prices for an ounce of each metal lets start this game off with $1,500 dollar balance.

I'm going to pick up an ounce of Platinum at $890 Dollars, that will leave us with $610 dollars - I'm going to take that 150 and buy as much Silver as 610 can buy me.

I had 610 dollars left bought 34oz of Silver for a total of $595.34 leaving us with $14.66 cents we are going to set aside for now. So in reality we have invested $1,485.34 into precious metals.

What we have: 10/19/19
1 oz Platinum @ $890 oz
34 oz Silver @ $17.51 oz
0 Gold
0 Palladium
----------------------------
Why Plat and Silver to start off?

Platinum and Palladium take turns going up and down - Palladium is at the top right now while Plat is at the bottom - we buy at the bottom. When the sides decide to switch we look to make trades.

Being a poor bastard - Silver is our friend - he will be the one to get us off the ground - we build our Silver collection until the Gold / Silver Ratio is at a spot we feel comfortable swapping out our Silver for Gold.

This game is decades in the making ...slow and steady wins the race.

-------------------------------

Basic Tools:
Kitco.com - great to check out spot price - look at historical charts - those charts are keys to our success.
Apmex - good site to check out spot price - buy precious metals.

--------------------------------

Where to buy / sell?

Buy at a local shop in your area - those shops typically have prices closest to the spot price - build a relationship with the local guy and he'll hook you up down the road.

ebay - can sometimes find some deals but risk getting fucked in the ass by fake coins / bars.

Various PM websites - Apmex has been legit for a long time.

I personally like to buy the finest shit right from the source: https://www.store.firstmajestic.com/

----------------------------------


I'm tossing this thread together out of boredom but that is our starting point ...we will buy or trade PM's weekly - next Saturday we will spend another $100 on Silver.

 

[sparkuri]

One hacksaw blade can get me as much as 10 grams of palladium per night.

The look on the face of the used car dealer when he starts up that Accord for the customer is a bonus.

 

[Enock-O-Lypse Now!]

One hacksaw blade can get me as much as 10 grams of palladium per night.

The look on the face of the used car dealer when he starts up that Accord for the customer is a bonus.

2015 Palladium was below $600 an ounce now its nearing $2000

 

[sparkuri]

2015 Palladium was below $600 an ounce now its nearing $2000

 

[yuki2054]

Precious Metals, it's a game any of us can play. I'm going to try and help you poor fucks make some money off the Precious Metals game.

First lets check out the current spot prices as of 10/19/2019
Kitco list prices:

Gold: $1489.60
Silver: $17.51
Platinum: $890
Palladium: $1736


Ok, now that we know spot prices for an ounce of each metal lets start this game off with $1,500 dollar balance.

I'm going to pick up an ounce of Platinum at $890 Dollars, that will leave us with $610 dollars - I'm going to take that 150 and buy as much Silver as 610 can buy me.

I had 610 dollars left bought 34oz of Silver for a total of $595.34 leaving us with $14.66 cents we are going to set aside for now. So in reality we have invested $1,485.34 into precious metals.

What we have: 10/19/19
1 oz Platinum @ $890 oz
34 oz Silver @ $17.51 oz
0 Gold
0 Palladium
----------------------------
Why Plat and Silver to start off?

Platinum and Palladium take turns going up and down - Palladium is at the top right now while Plat is at the bottom - we buy at the bottom. When the sides decide to switch we look to make trades.

Being a poor bastard - Silver is our friend - he will be the one to get us off the ground - we build our Silver collection until the Gold / Silver Ratio is at a spot we feel comfortable swapping out our Silver for Gold.

This game is decades in the making ...slow and steady wins the race.

-------------------------------

Basic Tools:
Kitco.com - great to check out spot price - look at historical charts - those charts are keys to our success.
Apmex - good site to check out spot price - buy precious metals.

--------------------------------

Where to buy / sell?

Buy at a local shop in your area - those shops typically have prices closest to the spot price - build a relationship with the local guy and he'll hook you up down the road.

ebay - can sometimes find some deals but risk getting fucked in the ass by fake coins / bars.

Various PM websites - Apmex has been legit for a long time.

I personally like to buy the finest shit right from the source: https://www.store.firstmajestic.com/

----------------------------------


I'm tossing this thread together out of boredom but that is our starting point ...we will buy or trade PM's weekly - next Saturday we will spend another $100 on Silver.

You can also buy share options in these elements, which would be much easier to sell..

 

[Hauler]

The look on the face of the used car dealer when he starts up that Accord for the customer is a bonus.

He'll probably sell more Accords that way because the car will actually sound like it has a pair of balls.

 

[Hauler]

You can also buy share options in these elements, which would be much easier to sell..

You are the poker expert of the forum.

 

[yuki2054]

You are the poker expert of the forum.

Lol thanks man. I sometimes go all in on a flush draw after the flop. Pays off half the time, but also helps to scare the other players off. So this builds momentum. Thanks!

 

[Enock-O-Lypse Now!]

You can also buy share options in these elements, which would be much easier to sell..

That is an option as well many do but I was introduced into the game by some old men and a half an ounce of cocaine ...they said keep it pysical - they had old stories of bums going to collect and the banks didn’t have the physical - so they told me to avoid dat paper.

 

[yuki2054]

That is an option as well many do but I was introduced into the game by some old men and a half an ounce of cocaine ...they said keep it pysical - they had old stories of bums going to collect and the banks didn’t have the physical - so they told me to avoid dat paper.

My experience of buying, and subsequently reselling the gold rings was they didn't give me ten percent of what I'd paid for them. At least from the British royal mint, you can buy gold with them and then sell when the price goes up.

Which it most likely will, seeing as precious metals are something of a no brainer. Or again buy the shares. I don't know very much of shares or options trading however. I think we are best leaving that to the professionals!?!

 

[Hauler]

seeing as precious metals are something of a no brainer.

What if there is a mine where someone has discovered a motherload of gold - like 80,000,000 tons of the shit? And what if they aren't telling anyone because the news of their discovery would crash the market and make their find, and gold everywhere, virtually worthless?

Precious metals are only as precious as you are being told they are.

 

[Rambo John J]

What if there is a mine where someone has discovered a motherload of gold - like 80,000,000 tons of the shit? And what if they aren't telling anyone because the news of their discovery would crash the market and make their find, and gold everywhere, virtually worthless?

Precious metals are only as precious as you are being told they are.

Gold is very useful and unique as an element...will always have some value...the combination of supreme malleability, conductivity, reflectivity, corrosion resistance, etc... Ensure it will hold value

Your hypothetical is good...Diamonds are somewhat in line with that...but diamond also has unique properties and uses...diamond's is value certainly is inflated and manipulated

 

[Hauler]

..the combination of supreme malleability, conductivity, reflectivity, corrosion resistance, etc... Ensure it will hold value

Other than jewelry, investments and Washington DC toilet seats, what is gold used for?

 

[Rambo John J]

Other than jewelry, investments and Washington DC toilet seats, what is gold used for?

High end optics and telescopes
Space vehicles space suits
Dentistry and medicine
Electronics...gold is an essential part of much of our electronics

I do love your hypothetical though...that is how my mind works, and that thought does apply to so many "valuable" things/items.

 

[Jesus X]

it is crazy that platinum is cheaper than gold and they used to overcharge rappers for platinum when they made their chains.

 

[HEATH VON DOOM]

Other than jewelry, investments and Washington DC toilet seats, what is gold used for?

@conor mcgregor nut hugger moms teeth

 

[Enock-O-Lypse Now!]

First Majestic Silver go to their website and buy lots of Silver baby!

@sparkuri is absolutely right ....time to Buy buy buy!!!

 

[Rambo John J]

First Majestic Silver go to their website and buy lots of Silver baby!

@sparkuri is absolutely right ....time to Buy buy buy!!!

I just am wary they don't lock the price right now
Is 17.50 right now...could be 20+ in a few days when they ship

Nice site...considering 30oz in coins

 

[Enock-O-Lypse Now!]

I just am wary they don't lock the price right now
Is 17.50 right now...could be 20+ in a few days when they ship

Nice site...considering 30oz in coins

I’ve purchased from them before - once you checkout that price is locked in, but you are right many local dealers are charging near 20 an oz compared to the spot price ....

Funny thing is, if you go in and sell some silver they will only offer you spot or under.

 

[Deleted member 1]

First Majestic Silver go to their website and buy lots of Silver baby!

@sparkuri is absolutely right ....time to Buy buy buy!!!

They want $17.50 an ounce?

 

[Rambo John J]

I’ve purchased from them before - once you checkout that price is locked in, but you are right many local dealers are charging near 20 an oz compared to the spot price ....

Funny thing is, if you go in and sell some silver they will only offer you spot or under.

it said it is the price at shipping time, not order time
just read it

They may have changed that policy very recently.

 

[Rambo John J]

I’ve purchased from them before - once you checkout that price is locked in, but you are right many local dealers are charging near 20 an oz compared to the spot price ....

Funny thing is, if you go in and sell some silver they will only offer you spot or under.

yep
20 bucks here in town right now
called yesterday
told him to get fuct

 

[Enock-O-Lypse Now!]

They want $17.50 an ounce?

When ever silver drops to low prices it’s common for dealers to charge a $2-3 dollar premium above spot price.

Back in 2011 when Silver nearly hit 50 an ounce it was hard to find dealers willing to buy.


The dealers are always trying to come out on top / their game is similar to the pawn industry

 

[Rambo John J]

When ever silver drops to low prices it’s common for dealers to charge a $2-3 dollar premium above spot price.

Back in 2011 when Silver nearly hit 50 an ounce it was hard to find dealers willing to buy.


The dealers are always trying to come out on top / their game is similar to the pawn industry

50 an ounce
makes it tempting to pull the trigger

I wish they could give an exact shipping date

 

[Deleted member 1]

When ever silver drops to low prices it’s common for dealers to charge a $2-3 dollar premium above spot price.

Back in 2011 when Silver nearly hit 50 an ounce it was hard to find dealers willing to buy.


The dealers are always trying to come out on top / their game is similar to the pawn industry

I'm out then. spot prices less than $12 right? But they want $17.50? That's what I was getting at.