Sentiment

[SilverDragon72]

I was in a coin shop today. The owner was an older guy and he was talking to two customers about the crash. His sentiment was that he was scared and wanted to unload his bullion.

This goes against the belief that dealers would hold back bullion if the prices were too low.

I think the old timers who have a significant amount of their wealth in bullion will be reacting the same way as this guy. If you're retired and have a lot of gold and silver, you can't afford to take chances.

Hm... doesn't that apply to a lot of realcenters? And yet not many people here seem to be planning to sell their hoard...

I have no plans on selling mine. Unless I were to receive a ridiculous offer for it....

Then I would simply go out and buy MORE!

[NDFarmer]

Explanation of what I mean by "free interest on taxes" -> Most people that pay taxes do so by payroll deduction and the formulas for payroll deduction are INTENTIONALLY WRONG. Such that if you do what the formula tells you that means you WILL GET A TAX REFUND. People tend to love these, of course. But if they realized that they just gave the government a zero percent interest loan they might think differently.

I never could understand people making such a big deal about getting a tax refund. I hear all time people celebrating when they get money back FROM THE GOVERNMENT. No you did not get money back from the government. You just got YOUR OWN money back.

[CardsNCoins]

........You just got SOME OF YOUR OWN money back.

Fixed it for you ND.

[scyther]

Only applies to people who still believe in fiat...

Fiat's real whether you like it or not. If I were retired and the value of my life savings went down significantly, I don't think I could shrug it off and say "still have the same amount of ounces, it's all good".

sure fiats "real", and I am retired....and a lot of my 'savings' are in silver, but they're also in land, and they are in nickels....the buddy, I love nickels. I noticed you "sorted" thru 40,000...I assume you were looking for war nickels?....that's good..probably found a few, right....but PLEASE tell me, you stacked those 20 bricks ($100 FV box, 2,000 nickels in each) and SAVED them...please tell me that...lol....THATS the way to save money, imo....each roll, I think of it, as a Hard $2 metal "bill".i RARELY keep any paper folding money, just an odd 20 or two, for when I go visit my old gal to get a haircut....I got a "deal" going with my bro's at the credit union, every two weeks, they order me a brick of nicks ....two a month, $200, in addition to the stack....when I get first whiff,they're gonna debase?...then i'm doing a 100 mile radius sweep and get 10 to 30 more bricks...mark my words, the nickel is going to be a very important coin, a really good store of wealth....AS WELL as silver....and in that, you'll see the Kennedy 40%'er get real popular...almost a fifth a toz of silver...backed by the 1964 90% Kennedy halve, which is a couple ticks over a third an ounce of silver...this will be the money you trade with.

sure I like the 95% coppers, fine coin, but the brick of nick's, is purty much hassle free...know what I mean?......and I posted on the nickel board, I actually scored me a WHOLE brick of 2009's!! lol...fresh from the mint...sure I could make me some extra money, but I don't wanna be wrapping and sending and receiving, and bing bang boom....not worth it to me.

Yeah, I sort for war nickels, buffalos, Vs, and Jeffs for my Dansco album, and keep all pre-60s cause why not. I usually return the rest to the bank though, and get more the next week. I agree nickels are a great way to save cash, but I just don't have that much cash to save, and unfortunately no income, so I don't have many stacked. Maybe $200.

It's kind of a paradox- the most convenient way to save is in unopened bricks (they stack well!), but then I just need to sort them cause I know there's probably at least one silver, and once I sort them- why save it? Just get a new unopened brick! I get 2 boxes a week from my bank by the way, and yeah I'll stack a few when a I hear news of debasement.

[SilverDragon72]

Explanation of what I mean by "free interest on taxes" -> Most people that pay taxes do so by payroll deduction and the formulas for payroll deduction are INTENTIONALLY WRONG. Such that if you do what the formula tells you that means you WILL GET A TAX REFUND. People tend to love these, of course. But if they realized that they just gave the government a zero percent interest loan they might think differently.

I never could understand people making such a big deal about getting a tax refund. I hear all time people celebrating when they get money back FROM THE GOVERNMENT. No you did not get money back from the government. You just got YOUR OWN money back.

You got your OWN money back, and yet the government calls your "refund" taxable INCOME!

[scyther]

Explanation of what I mean by "free interest on taxes" -> Most people that pay taxes do so by payroll deduction and the formulas for payroll deduction are INTENTIONALLY WRONG. Such that if you do what the formula tells you that means you WILL GET A TAX REFUND. People tend to love these, of course. But if they realized that they just gave the government a zero percent interest loan they might think differently.

I never could understand people making such a big deal about getting a tax refund. I hear all time people celebrating when they get money back FROM THE GOVERNMENT. No you did not get money back from the government. You just got YOUR OWN money back.

You got your OWN money back, and yet the government calls your "refund" taxable INCOME!

They do? I didn't know that... I was naive yet again... so they literally tax you twice on the same income? Well, that explains why everyone gets a tax refund...

[Rosco]

Made several buys in past 5 weeks an that added ounces to the stack. Yes FRN price changed but I still have X ounces. Looking for a few more FRNs to buy additional. All the pain would disappear if I could find XXX to buy more . Enjoying life at 75

[beauanderos]

Well... it looks like they're aiming at $22.80 now... as pennypicker pointed out. Gold broke below $1400

[Engineer]

As a point of reference, gold is down 10% while brent crude is down 2.5%.

A silver quarter will buy $4.25 worth of gas, so I think there's another 75 cents worth of drop for that quarter before it bumps up against the old standby of $.25 gas in 1964.

[beauanderos]

I was wondering if they would consider the damage done today was "enough." Apparently not, after hours now and gold is down $135, silver broke previous support at $22.80 and is down a whopping $3.22. Mother of G**

[68Camaro]

There unfortunately tends to develop a knock-on affect where the inertia is hard to stop for a time....