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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 10/18/2008 : 21:22:51
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After reading all of the posts and stories related to the major disconnect between PM price as set by COMEX and what the bullion dealers will sell PMs for, I relaized the component I was missing-
The US calculates the "official" price of gold at $42.2222 per ounce,
but you will never find anyone willingly selling gold for that price (unless they don't realize what they have for sale is gold.)
So as far as gold is concerned,
we have the "official" US price,
the COMEX price
and the bullion dealer price,
and, if you prefer, we have the internet auction price.
Four, count em', four different prices for the same ounce of gold.
No wonder there is a disconnect in the gold price.
Silver is effected the same way, with the exception there isn't an official US price of silver.
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 10/18/2008 : 22:08:56
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When it comes to the price of Silver:
"Pay no attention to that man behind the curtain!"
Don't worry, the Gub'mint is investigating all those allegations of Silver price manipulation, they're even going to look into Gold price fixin'.
I can hardly wait to read their findings.
Until then, I'll wait and see what Ted Butler has to say. |
There's profit if you melt things!!
8{> |
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misteroman
Administrator
USA
2565 Posts |
Posted - 10/18/2008 : 23:23:43
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| I still can't believe some billionaire or country has not started buying up all the gold.I heard somewhere there are a few guys trying to buy up all the s-vdb cents. |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Nickelless
Administrator
USA
5580 Posts |
 Posted - 10/18/2008 : 23:39:53
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quote:
Originally posted by pencilvanian
After reading all of the posts and stories related to the major disconnect between PM price as set by COMEX and what the bullion dealers will sell PMs for, I relaized the component I was missing-
The US calculates the "official" price of gold at $42.2222 per ounce,
but you will never find anyone willingly selling gold for that price (unless they don't realize what they have for sale is gold.)
What the heck are they basing that figure off of, and why is the "official" spot price 20 times higher?
quote:
Originally posted by misteroman
I still can't believe some billionaire or country has not started buying up all the gold.I heard somewhere there are a few guys trying to buy up all the s-vdb cents.
Given how nebulous the accounting for our government's gold has been--do we REALLY have any left at For Knox??--the gold might already have been bought up by an outside party, at least as far as the U.S. is concerned.
With regard to the 1909-S VDBs, are these prospective collectors just going to hold on to them or resell them?
What's the melt value of a 1909-S VDB, and yes, I mean melt value?! (Just kidding...) |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
Edited by - Nickelless on 10/18/2008 23:46:04 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 10/18/2008 : 23:43:12
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Ain't givin' up my 09-S VDB. I paid 3 cents for it.. and at the current price of copper, that is WAY above melt!  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 10/19/2008 : 00:35:20
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I talked with an older gentleman who claimed to have 40. I didn't believe him.... Until he showed me. I immediately offered/asked/pleaded/begged to buy one, ANY of them. Good, bad, ugly, whatever. Negative. Holding out until '09 he said. So, there sits 40 of 'em. And I still have none....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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dpwozney
Penny Sorter Member
Canada
50 Posts |
Posted - 10/19/2008 : 00:56:41
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quote:
Originally posted by Nickelless
quote:
Originally posted by pencilvanian
The US calculates the "official" price of gold at $42.2222 per ounce, but you will never find anyone willingly selling gold for that price (unless they don't realize what they have for sale is gold.)
What the heck are they basing that figure off of, and why is the "official" spot price 20 times higher?
“Most people associate the noun ‘dollar’ with the Federal Reserve Note (‘FRN’) ‘dollar bill’, engraved with the portrait of President George Washington. This association is mistaken. No statute defines - or ever has defined - the ‘one dollar’ FRN as the ‘dollar’, or even as a species of ‘dollar’”, wrote Edwin Vieira, Jr. in What Is A “Dollar”?.
In 1973, Public Law 93-110 defined the U.S.A. dollar as having the value of 1/42.2222 fine troy ounces of gold.
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"The silver is mine, and the gold is mine, saith the LORD of hosts." (Haggai 2:8) |
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I just realized it...
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