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Thread: Investing in Precious Metals
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11 June 2021, 17:40 #346
I had been thinking when I sold that I’d go to a local gold exchange store. Is online better if through one of those places?
-One Nation, Under God
-"The bad news is time flies. The good news is you're the pilot." ~ Michael Althsuler
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12 June 2021, 08:52 #347
Find out first what the online dealers and local stores are buying at with a quick phone call. I recently helped a friend sell 10-10 oz. silver bars. I called the local gold and silver store and he was paying spot at the the time which I felt was low since the online dealers and his business is selling bars at $5-$6 OVER spot. He went on to tell me he thought his price was fair but then said he is having a lot of trouble finding sellers! DOH! So I had my friend put an add in the local Craigslist for $2.50-$3.00 over spot and within 24 hours he had 6 reply's! I told him to state in the add it was for cash only and the price was non-negotiable and also state that you are only willing to meet at your local police dept. for the sale. That keeps the rif raff away and should prevent someone from being set up and robbed. It worked well... Nothing wrong with selling to online dealers but you will have to package up the PM's in a VERY specific manner so with the shipping supplies, cost to ship and the insurance on the package you can be around $60 just to ship it to them. So if they are paying spot you will have to deduct your costs from the price they give you, you also have to wait about 2 weeks to finally get a payment processed. If the shipment gets lost or stolen then the headaches just start to add up from there. Its a sellers market so don't get low balled by a buyer who wants to take all the profit for themselves.
The best way to survive a violent encounter is to be the one inflicting the most violence.
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14 June 2021, 07:47 #348
Latest release from SXNTF:
"Please find to follow Sixty North Gold Mining’s latest news release. We are very pleased to have commenced mobilization onto the Mon Gold Mine, to commence operations.
SIXTY NORTH GOLD ANNOUNCES MOBILIZATION OF CREW TO THE MON MINE SITE
Vancouver, British Columbia--(Newsfile Corp. – June 14, 2021) – Sixty North Gold Mining Ltd. (CSE: SXTY; FKT: 2F4; OTC-Pink: SXNTF) (the “Company” or “Sixty North Gold”)
Sixty North Gold is pleased to report that crews have commenced mobilizing to the Mon Property, Yellowknife Belt, NWT. The Company plans to reopen the existing North Ramp and extend the decline a further approximately 200 m, to access between 30,000 to 40,000 tonnes of vein material 20 m beneath the historic stopes. The Company plans to extract a bulk sample of 4,000 to 6,000 tonnes to confirm the previous mined grades from the mine. Initially crews will be setting up all of the equipment and materials that had been trucked in this past winter and underground work will commence once all preparation is complete.
Dr. Dave Webb, President & CEO, states, “Sixty North Gold continues to execute on its stated plans in preparation for extracting a bulk sample this year. We have a management team skilled in underground mining in the Yellowknife Gold belt and at the Mon Mine in particular. We are excited to have within reach our goal of bringing the permitted Mon Gold Mine back into production.”
Dr. D.R. Webb, Ph.D., P.Geol., P.Eng. is the Qualified Person within the meaning of NI 43-101 and is responsible for the technical details of this release.
About the Company
The Mon Gold Property consists of 11 contiguous mining leases and 3 mineral claims, comprising an aggregate 622 hectares, located in the South Mackenzie Mining District, NWT. The Mon Mine produced 15,000 ounces of gold from 15,000 tonnes of ore between 1989 and 1997. Permits to explore, mine and mill at 100 tpd are in place, and the Mon is the only gold project permitted for production in the NWT. Other targets on the property include recently discovered silver- and gold-rich volcanogenic massive sulphide (VMS) targets, as well as shear zone-hosted gold mineralization. The shear zones are similar in nature to, and hosted in the same rocks as, the world-class deposits at the Con and Giant Mines in Yellowknife which produced 14 million oz. gold.
The Company also has an option agreement to acquire a 100% interest in the highly prospective and contiguous 2,394 hectare Hangstone Property adjoining the Mon Property to the East and South from an independent prospector. The Mon Property shear zone and VMS targets can be projected onto the Hangstone Property. Geochemical samples have been collected and are being shipped for analysis.
For more information, please refer to the Company’s profile on SEDAR (www.sedar.com) or visit the Company’s website at www.sixtynorthgold.com.The best way to survive a violent encounter is to be the one inflicting the most violence.
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14 June 2021, 11:35 #349
I keep adding a little TCFF every month. I can't wait for the fall/winter
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14 June 2021, 18:05 #350
I got notification from JM Bullion this morning that they had a 1-oz Queen's Beast coin in stock that I'm missing (The 2018 Black Bull of Clarence) ... I couldn't click on that shit fast enough, and it was still out of stock when I got there. Dangit!
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14 June 2021, 19:01 #351
Was it the one ounce silver proof you were looking for?
The best way to survive a violent encounter is to be the one inflicting the most violence.
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16 June 2021, 13:20 #352
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3 July 2021, 12:22 #353
One of my best friends wife is a Bank Teller. A woman last week brought in 50 Morgan Dollars. She just wanted a $50 bill for them. When the bank tried to tell her they were worth a lot more, she balked and demanded face value and didn't want to deal with it. She scored 13 of them after she let others have their take.
Craaaaaaaaazy.
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3 July 2021, 13:56 #354
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3 July 2021, 14:04 #355
How much are those worth?
I was in banking for a while and have similar stories. Like way more crazy than that.
One guy was super nice but down on his luck was a regular customer. His parents passed away when he was young so he was raised by his grandparents.
When they both passed away he brought in a bunch of stock certificates and said "I counted them up and if they are still good at today's prices it should be around $50,000".
Little did he know but they were stock certificates from a huge company and those shares were issued in the 1950s.
He netted something like 1.3 million dollars.
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3 July 2021, 21:21 #356
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3 July 2021, 22:07 #357
I think you are mis reading. Nobody said anything about how much was invested or whatever the return was.
He counted the number of stock certificates he had and then looked up the current price at the time after his grandma died. Maybe around 2004 or somewhere around there is when all this happened.
I don't know and he didn't know what his grandparents paid. All he did was count the certificates and thought they were just still one for one, which obviously was not the case.
They bought them back in the 50s. If I recall, it was more than one purchase over several years. They kept the certificates in an old wooden trunk at the foot of his grandparents bed. After they died he looked in there and found that and more.
In reality though the stock had split many times in between issue and when I met him.
At the end of the day he came out quite nicely for getting free money.
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3 July 2021, 22:15 #358
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3 July 2021, 22:34 #359
It's definitely more a story of good luck rather than being shrewd. Guy gets raised by his grandparents. Grows up to be a lawn guy and a handyman or something like that. Finds a thousand shares of stock certificates that he's the sole heir to...nets around $1.3 million bucks.
He went from having $200 to $300 a month to eat on most of the time to having a rather nice bank account. What's not to love?
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3 July 2021, 22:47 #360
I guess from my perspective it was more interesting. I was the guy that sat him down and explained to him his flawed math and that he had $1.3 million in cash after taxes.
To me it was quite memorable breaking that news to a handyman that he was doing pretty good.
Honestly he was a really nice guy. Karma definitely played a part. He definitely must have been living right or something.