Myers Depot Metal Detectors

Precious metal prices

dewcon

dewcon

Quality Control Expert
Joined
Sep 20, 2006
Messages
8,374
Location
Gulf, Florida
Soooo how many are selling gold and PLT now days? Starting to feel the pinch when buying a new machine? I read ML increased the price for Xcals in Europe..... somewhere around $2000 now U.S. Awww but the Euro is down..... you really think there wont be an excuse to raise prices in the U.S. next? It would really hurt to be buying a $2500 machine for dirt hunting. Everyone has to be impressed with Garrett and the AT Pro. Nice machine reasonable price. Garrett hasnt lost site that you can make money with a good produce at a reasonable price. Im hoping Fisher and Whites will follow suit and think back when it was about the hobby.

Not to many nations willing to part with a pot of gold right now...... nor are they buying. On the positive side........ im filling my treasure chest Craig.:laughing:
 
They can make up reasons to keep gas prices up even though it should be $1.50 a gallon. But they can't jack up gold prices for us:lol:
 
Gold and Silver, I think, are still good buys for long term hold. I try to buy several ounces of gold per year to stock away in a bank for future.
Silver is so cheap, and I think, underrated. It can't stay this low forever.
Silver is easy to buy by the ounce and won't hurt anyone's paycheck too much.

The thing I try to tell folks is that unless you are a coin speculator, don't buy minted gold coins. The premiums are always higher than gold rounds.
Except for the collectibles from years gone by, today's gold coins are just bullion. Same for today's silver coins... but, that is just my opinion.

and buying gold and silver coins from the US Mint, is a sucker bet. The premiums are so high it isn't worth it. Why pay 1500+ dollars for a 1 ounce bullion coin worth 1100+ dollars? It's crazy I tell you.
For my collecting purposes, I buy 1 Silver mint set each year and maybe a uncirc P&D set. And I know I overpay. But I am a collector. I just received the March of Dimes set, and it was worth the wait, it is beautiful.
 
dewcon said:
Soooo how many are selling gold and PLT now days? Starting to feel the pinch when buying a new machine? I read ML increased the price for Xcals in Europe..... somewhere around $2000 now U.S. Awww but the Euro is down..... you really think there wont be an excuse to raise prices in the U.S. next? It would really hurt to be buying a $2500 machine for dirt hunting. Everyone has to be impressed with Garrett and the AT Pro. Nice machine reasonable price. Garrett hasnt lost site that you can make money with a good produce at a reasonable price. Im hoping Fisher and Whites will follow suit and think back when it was about the hobby.

Not to many nations willing to part with a pot of gold right now...... nor are they buying. On the positive side........ im filling my treasure chest Craig.:laughing:
Click to expand...

I haven't sold any either Dew... but when I do I have a guy willing to pay me 100% of melt value on my scrap pieces... He is an investor guy I know.
 
funny how the us mint suddenly ran out silver coins 20 minutes before silver took a dive (we are lowering the price of a "x" even though we are all sold out?)
that's called shooting the life rafts
1 thing I've never seen on the news yet is how South Africa is holding up... most of the miners were on strike when the price was $1500. How are they keeping their geads above water at $1000?
 
prices could spike up 1 day easily.... all it would take is something as simple as China to say no more domestic production at these paper prices...
 
I think silver is also a byproduct of mining for lead. We may not live long enough to make it equal to what gold can do. Would you rather have silver jump a dollar or gold jump $400. I know guys said they did good on silver return. But I have an investor tell me once back when it was $350 an ounce if I invested 50 grand how well I would have been off. Takes a lot of silver stockpiled compared to gold. But it is better than aluminum which used to cost more than gold at one time:lol:
 
itsaring! said:
I think silver is also a byproduct of mining for lead. We may not live long enough to make it equal to what gold can do. Would you rather have silver jump a dollar or gold jump $400. I know guys said they did good on silver return. But I have an investor tell me once back when it was $350 an ounce if I invested 50 grand how well I would have been off. Takes a lot of silver stockpiled compared to gold. But it is better than aluminum which used to cost more than gold at one time:lol:
Click to expand...
living in Asia i can say there is little to no silver market except for jewellery. not even really a place to sell it
 
I have saved all my gold so far this year. However, my take on it is EVERYTHING you find is FREE. Sure I want to get the most for it. However if you need money and sell you have money. I sold thousands of dollars worth when gold was 300.00 an oz. Was it a bad choice? Looking back yes. But you never know.

The only difference between selling gold and playing the stock market is you have to buy stocks and hope they go up. You find free gold and silver and you are already ahead. Except for your time, which in going out to find it is better than sitting in front of a stupid TV.
 
I guess it all comes down to WHY are we keeping it and who will reap the benefit? Is it rainy day money..... how many really realize the money under their matrice isnt worth face value. All they know is they have X amount of money put away that they worked hard for and are trying to keep the government from getting even more of it. Odd thou when we have to sell something like gold or stocks..... we then notice the value.... or lack there of. If you were ever in a country say like Italy before the Euro and got some of their money with a lot i mean a lot of 0s that equaled about a $1 U.S. You realize what a bad investment money is.

Dew
 
The whole globe is in a perpetual game of economic "kick the can". This helps puts things into perspective: A million seconds is under 12 months. A billion seconds is about 32 years. A trillion seconds is about 32,000 years. The interest on our debt is piling up at a rate of 235 billion dollars per day. Double the interest rate and well..?! The Feds painted itself into a corner. When things go bad I hope I'm either dead or to old to care. Lately I'll sell a little here or there but the nicer pieces get socked away.
 
Steve said:
funny how the us mint suddenly ran out silver coins 20 minutes before silver took a dive (we are lowering the price of a "x" even though we are all sold out?)
that's called shooting the life rafts
1 thing I've never seen on the news yet is how South Africa is holding up... most of the miners were on strike when the price was $1500. How are they keeping their geads above water at $1000?
Click to expand...

the mint's prices of direct to collector coins is ridiculously high.
however, their price to dealers is like. spot plus 2.00. so depending on when they contracted to the company that supplies the blanks to them, when silver drops > .50 and ounce, they could lose a bunch of change.

Silver eagles, imo, are not worth the premium.
 
Free Money?

Free money? Hardly. Come on guys, look at the money you spend to find that gold. It takes TIME. It takes equipment. For some of you it takes a boat, scuba gear, air refills, wetsuits, booties, weight belts, masks, snorkels, fuel to get there, payments for parking and for some a permit. It takes repairs to your detectors where ML gets a FAT amount.

The list goes on. It is NOT free money. In fact, you might be paying more to find the gold than if you bought it. I know some guys drive an hour to hunt. That is fuel and wear and tear on a vehicle that probably cost them $30,000 not including the insurance to drive it. Then there is the cost to your life and your health. Water hunting is hard on the body, the shoulder and elbow joints wear out. It takes a toll on your relationships. Many on here are divorced, probably because the wife wanted a man at home, not getting sunburned on the beach looking for treasure. You know who you are. :lol: That is a cost too.

Then there is the danger of sharks, sting rays, jelly fish, skin eating parasites and the brain infection bacteria that has killed numerous people in Florida. Free money?


Free in your dreams. :laughing::laughing:
 
imalookin2 said:
Free money? Hardly. Come on guys, look at the money you spend to find that gold. It takes TIME. It takes equipment. For some of you it takes a boat, scuba gear, air refills, wetsuits, booties, weight belts, masks, snorkels, fuel to get there, payments for parking and for some a permit. It takes repairs to your detectors where ML gets a FAT amount.

The list goes on. It is NOT free money. In fact, you might be paying more to find the gold than if you bought it. I know some guys drive an hour to hunt. That is fuel and wear and tear on a vehicle that probably cost them $30,000 not including the insurance to drive it. Then there is the cost to your life and your health. Water hunting is hard on the body, the shoulder and elbow joints wear out. It takes a toll on your relationships. Many on here are divorced, probably because the wife wanted a man at home, not getting sunburned on the beach looking for treasure. You know who you are. :lol: That is a cost too.

Then there is the danger of sharks, sting rays, jelly fish, skin eating parasites and the brain infection bacteria that has killed numerous people in Florida. Free money?


Free in your dreams. :laughing::laughing:
Click to expand...

Take a bunch of gold to get me out of the hole this year. Glad its a hobby:lol: Oh yeah that divorce thing. Thanks for dropping me off at my new place. :lol:
 
itsaring! said:
Take a bunch of gold to get me out of the hole this year. Glad its a hobby:lol: Oh yeah that divorce thing. Thanks for dropping me off at my new place. :lol:
Click to expand...
You are welcome my friend. :laughing: Now it is time to find a woman who LIKES detecting. :D Actually I was thinking about Craig when I mentioned that. He is not divorced yet though. :lol:
 
Ok FREE is relative. ANY hobby will cost you. RC toys, Trains, shooting, archery, fishing, antique cars. All will take up your time also.

This one is the ONLY one that pays you back that I know of. So I think of it as free.

I have a boat, insurance, scuba gear and it costs me 5.00 each tank for 3 hours of fun.

I am a widower, I am on a fixed income of a grand a month. Last month I took in almost 2300.00. I did spend about 400.00 in gas for my boat and truck. I haven't had to sell any of my finds. I have probably over 100.00 in clad also and who knows how much silver and other finds. A bottle I found might be worth a few hundred also.

I have no debt but taxes and utilities. So a bit of the money I found last month is free. Better than sitting in front of a stupid TV and getting fat and older.
 
I certainly don't drive a 30,000 dollar car (30,000 pesos is more on the mark) and it gets me to the beach just fine. I know my break even point is about 10 dollars per hunt for gas, some days i don't hit it and some days i pass it by far.
For me overall detecting is a hobby that i enjoy which happens to pay...
 
dewcon said:
I guess it all comes down to WHY are we keeping it and who will reap the benefit? Is it rainy day money..... how many really realize the money under their matrice isnt worth face value. All they know is they have X amount of money put away that they worked hard for and are trying to keep the government from getting even more of it. Odd thou when we have to sell something like gold or stocks..... we then notice the value.... or lack there of. If you were ever in a country say like Italy before the Euro and got some of their money with a lot i mean a lot of 0s that equaled about a $1 U.S. You realize what a bad investment money is.

Dew
Click to expand...

That about sums it up,,,,,,its called "paper gains/losses",,,,,,,,neither until you sell it,,,,,dunno, I am about ready to send more in to melt to 24k and make another ring though,,,,,

IMA, get on the positive side buddy,,,,,,consider all the good hunts and do the math, it ought to be in your favor, if not, you are doing something wrong,,,and add the banner finds each year, its paying you a couple bucks,,,,GL HH
 
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