Buying physical gold/silver
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Last: 11 hrs ago by NastyNate
When America officially broke any resemblance to a gold standard in the 1970s, James Baker and Henry Kissinger brokered a deal with Saudi Arabia (SA) -- America is your "strong arm" in the Middle East and you sell oil in dollars only. The upshot of that is that every country, to buy oil from SA, has needed to get dollars first and then buy the oil. This puts an amazing floor under the US Dollar, because the SA oil market is huge and lots of countries are trading francs, dinar, etc. for dollars to then buy oil.FAT SEXY said:
What effect would Saudi Arabia joining BRICS have on the global economic system? I've heard rumblings for awhile now that they are interested in joining, among other countries.
If the Petrodollar goes completely away--meaning countries can broker deals with SA to purchase oil in other currencies and the US Dollar is no longer part of it--then all those dollars being purchased to then buy oil go away. The net result of diminished buying of dollars to then buy oil is that the US Dollar weakens, some say it will be dramatically.
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Agreed with all of this but want to add a couple items:
As an indisputable fact, no other country in the world except the USA can protect international shipping lanes for products like O&G. Not china, not russia, not india. Nobody else but us.
Further, I've seen it argued that the US invaded iraq not bc of WMD but because sadaam declared his intent to sell oil in exchange for the euro or gold. So he got axed.
If both of those are actually true, and the house of Saud decided to price oil exports in anything other than the dollar, I think that would mean World War III. They know that too. For that reason, I don't think it happens.
As an indisputable fact, no other country in the world except the USA can protect international shipping lanes for products like O&G. Not china, not russia, not india. Nobody else but us.
Further, I've seen it argued that the US invaded iraq not bc of WMD but because sadaam declared his intent to sell oil in exchange for the euro or gold. So he got axed.
If both of those are actually true, and the house of Saud decided to price oil exports in anything other than the dollar, I think that would mean World War III. They know that too. For that reason, I don't think it happens.
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Platinum coins sub $1k on sdbullion. Added
Anyone order from an online bullion dealer and received the wrong item? I ordered 25 2023 Perth Lunar Rabbit 1-ounce and received 25 2023 Royal Mint Lunar Rabbit 1-ounce. The Perth Lunars are the popular, collectible ones. The dealer does not have the Perth Lunars and is offering me a $30 "coupon" to keep the Royal Mint ones. At APMEX, it's a $5 difference, per coin, in price. I paid $30.78 per coin, which is a screaming deal, as today I ordered the Perth coin for $33.30 from another dealer. I've countered with a $50 coupon. Any suggestions on how to proceed? Just return the wrong coins for a refund?
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Life is short. I would get the one you want.
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Do you mind sharing the online dealer's name so we know who not to shop with?Aggiemike96 said:
Anyone order from an online bullion dealer and received the wrong item? I ordered 25 2023 Perth Lunar Rabbit 1-ounce and received 25 2023 Royal Mint Lunar Rabbit 1-ounce. The Perth Lunars are the popular, collectible ones. The dealer does not have the Perth Lunars and is offering me a $30 "coupon" to keep the Royal Mint ones. At APMEX, it's a $5 difference, per coin, in price. I paid $30.78 per coin, which is a screaming deal, as today I ordered the Perth coin for $33.30 from another dealer. I've countered with a $50 coupon. Any suggestions on how to proceed? Just return the wrong coins for a refund?
The downside of going for "best price" and letting the online dealer choose your 10oz'ers … these ItalPreziosi bars look about like a mud fence
That looks like some of the bars when I tried to smelt sterling silverware
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Did they send you one of each of those? If so, that Pioneer is really cool.
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i will not be surprised at all when saudi arabia is selling oil to china in exchange for yuan. will happen in the next 5 years IMO. and we aren't going to start a war over it. weaponizing the dollar against russia was a huge blunder that is only starting to play out.Red Pear Realty said:
Agreed with all of this but want to add a couple items:
As an indisputable fact, no other country in the world except the USA can protect international shipping lanes for products like O&G. Not china, not russia, not india. Nobody else but us.
Further, I've seen it argued that the US invaded iraq not bc of WMD but because sadaam declared his intent to sell oil in exchange for the euro or gold. So he got axed.
If both of those are actually true, and the house of Saud decided to price oil exports in anything other than the dollar, I think that would mean World War III. They know that too. For that reason, I don't think it happens.
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We've spent billions just to mess with Russia in Ukraine and you don't think we will release the non-redacted 9/11 report and use it as an excuse to end the Saudis if they get uppity and pose a threat to the dollar? Just so we're clear, if the dollar falls, its game over for America.
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i didn't predict the fall of the dollar, it can and will still be the global reserve either way. the east is gradually and intentionally de-dollarizing though, and soon enough it will include saudis trading oil for currencies other than the dollar. and we are not going to go to war with them over it, that would only accelerate the decline of USD hegemony. we need them too much.
to your point, we basically gave them a pass about 9/11. but we're going to go to war because they sold oil to china and accepted yuan instead of dollars? not likely.
to your point, we basically gave them a pass about 9/11. but we're going to go to war because they sold oil to china and accepted yuan instead of dollars? not likely.
Here's the final resolution. I requested a $50 coupon and they agreed. My original price paid was $769.50 or $30.78/ounce (very reasonable for Perth lunars). I'm pleased that the coupon knocks them down to $28.78/ounce. I'll probably order more Perth stuff and they'll probably ship more Royal Mint stuff. Ha. They will continue to get my business because they had/have the best prices on some items. Customer service was very responsive. Though I'm disappointed they shipped the wrong item (that is now out of stock), I'm pleased with the resolution. SilverGoldBull.com
FOR SALE - Twenty-five 2023 Royal Mint Rabbit Lunars! You know my cost, make an offer if interested!
FOR SALE - Twenty-five 2023 Royal Mint Rabbit Lunars! You know my cost, make an offer if interested!
Good to know! Thanks for the details
Some Saturday morning silver p**n for you! I present the complete Series I Lunars from the Perth mint in 2-ounce size. Perth began making gold Lunars in 1996 (Whoop!) and the silver coins began in 1999 with the Rabbit. Series I ended in 2007 (twelve lunar years 1996-2007). However, Perth wanted a complete set of silver as well as gold, so they minted the 2008 Rat, 2009 Ox, and 2010 Tiger as 2007 coins. The obverse indicates 2007; however, the animals correspond to Rat, Ox, and Tiger. The Ox and Tiger 2-ounce coins are rare and have a hefty premium. I landed two 2-ounce Tigers about a year ago and finally landed the 2-ounce Ox earlier this week. Here they are!
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Awesome!
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Never wanted $10k worth of silver as much as this....
https://sdbullion.com/catalog/product/view/id/5524
https://sdbullion.com/catalog/product/view/id/5524
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Looking to unload 500 new condition SMI 1 oz rounds with mint mark SI if anyone wants to make an offer before I go thru a dealer. I live in bastrop and willing to travel an hour or so
I woild think you will get quite a few offers and you may already know what the dealer will pay so that helps with the offers for sure
Good luck
Good luck
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Jealous! Best I've ever found was a single Japanese silver coin from the 70's worth about $1.50
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Some Britannias
Excuse my ignorance, but what does SMI mean?
Sunshine Minting Inc - http://www.sunshinemint.com/
Friendly reminder that none of your precious metals went into FDIC receivership last week
Amen. My stack is here whenever I need it. Can't say the same thing about money in a bank or retirement fund.
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Yesterday's tracked #silver sales at APMEX were the highest I've ever recorded for a Saturday.
— Michael 🏳️🌈 #silversqueeze (@mikesay98) March 12, 2023
Sales were 49% higher than the previous record and 322% above average! #silversqueeze pic.twitter.com/dtsGzOiQFi
Any of you have any recommendations on safes?
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