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Gold On A New High


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According to ICMJ, gold has just broke the 2K threshold, $2057. I'm sure it will be up and down for a while. 

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1 hour ago, MSC said:

According to ICMJ, gold has just broke the 2K threshold, $2057. I'm sure it will be up and down for a while. 

yeah, I watched the price climb these last few years. Average price on my bullion is 1160 so it's been a great hedge so far. My wild dug gold possibly even better even after expenses?  Recently did a quick flip on a gold stock for 2K+ profit in 2 weeks. Completely out of stock market as of 2-3 weeks ago.  Gold has been best overall investment and hobby to date (if I sold today).....

Gotta luv the yellow stuff.......

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11 minutes ago, oneguy said:

yeah, I watched the price climb these last few years. Average price on my bullion is 1160 so it's been a great hedge so far. My wild dug gold possibly even better even after expenses?  Recently did a quick flip on a gold stock for 2K+ profit in 2 weeks. Completely out of stock market as of 2-3 weeks ago.  Gold has been best overall investment and hobby to date (if I sold today).....

Gotta luv the yellow stuff.......

Even better is nickel. An unreal $100,000 / ton. Russia produces about half the word supply. EV makers can't find enough for batteries.  Palladium over $2000 an ounce also. Copper has also doubled. Oil, coal, everything going higher. 

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1 hour ago, GhostMiner said:

Even better is nickel. An unreal $100,000 / ton. Russia produces about half the word supply. EV makers can't find enough for batteries.  Palladium over $2000 an ounce also. Copper has also doubled. Oil, coal, everything going higher. 

The "war nickels" from the 40's used 35% silver to save nickel as the nickel was needed for the war effort.  Anybody know what or why we needed nickel for the war effort?

I've got coffee cans full of pre '82 copper pennies from my coin shooting days. About 5-6 months ago I tried to off the coppers to a recycling joint "on the sly" telling them " do what ever you want, I know nothing"...  Anyways, they wouldn't even touch them. So I guess they'll go back into circulation.  Think price then was about $4.50/lb....

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11 minutes ago, oneguy said:

The "war nickels" from the 40's used 35% silver to save nickel as the nickel was needed for the war effort.  Anybody know what or why we needed nickel for the war effort?

I've got coffee cans full of pre '82 copper pennies from my coin shooting days. About 5-6 months ago I tried to off the coppers to a recycling joint "on the sly" telling them " do what ever you want, I know nothing"...  Anyways, they wouldn't even touch them. So I guess they'll go back into circulation.  Think price then was about $4.50/lb....

Nickel hardened armor plate and was used in ordnance & anti aircraft guns. I think we could see gas rationing to bring down price.

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3 hours ago, MSC said:

According to ICMJ, gold has just broke the 2K threshold, $2057. I'm sure it will be up and down for a while. 

Gold isn't the only thing that has gone up.-----U.S. gas prices at the pump reached an all time high.

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1 hour ago, oneguy said:

The "war nickels" from the 40's used 35% silver to save nickel as the nickel was needed for the war effort.  Anybody know what or why we needed nickel for the war effort?

From A Guide Book of Buffalo and Jefferson Nickels by Q. David Bowers:

"In an insightful article in The Numistmatist in 2000, Mark A. Benvenuto, a chemistry professor, provided data suggesting that about 827,164 pounds of nickel metal might have been saved by the alloy switch, but "statistically this figure is insignificant in view of about 300 million pounds of nickel produced annually during World War II, about 60% of which was available for use of the Allies.  (Benvenuto hypothesizes):

My theory is that the action was intended simply to be a morale booster.  Every time John Q. Public saw the enlarged mintmark atop Monticello, he knew that even the United State Mint was doing its part for the war effort...."

1 hour ago, oneguy said:

I've got coffee cans full of pre '82 copper pennies from my coin shooting days. About 5-6 months ago I tried to off the coppers to a recycling joint "on the sly" telling them " do what ever you want, I know nothing"...  Anyways, they wouldn't even touch them. So I guess they'll go back into circulation.  Think price then was about $4.50/lb....

153.5 cents of 95% copper composition, with no wear contains 1 lb of copper.  At the current $4.81/lb spot price that's a bit over 3 cents of copper each.  Reprocessing to remove the remaining 5% component of the alloy will reduce the value some, but it's still a very nice profit, in quantity.  The problem (as you likely know from your failed attempt to cash in at the salvage yard) is that melting USA cents is currently illegal in this country.

If you want to follow gold spot price in near real time (probably 5 minute delay), this is the site and here's what you can see there:

328897388_Screenshotat2022-03-08230110.png.240988e255726b6d7475d3512ee6011f.png

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The nickel is our oldest unchanged coin at this time. Everything else has undergone composition changes since. I won’t be surprised if we see a move to remove nickel from the nickel very soon.

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