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  • Gold

    If all the money that the USA is printing is going to be worthless and gold and silver is expected to reach all time highs . . . Why are so many trying to sell gold and silver??
    '60 Hawk

  • #2
    Gold and silver are usually in demand for jewelry and electronics. At one time silver was desirable for photo film which is more or less a bygone product. Like any other commodity...it's speculation and timing. Not everyone gets the profit...or not as much as others. Take the risk and sometimes it pays off and sometimes not.

    ​​​​​​​I remember many years ago my dad raised the question that if money is going to be so worthless than why were people buying gold hoping to turn it back into money at a later date?
    Poet...Mystic...Soldier of Fortune. As always...self-absorbed, adversarial, cocky and in general a malcontent.

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    • #3
      Funny (or weird) how "perception of value" affects life. For example, probably a lot of us Studebaker people would walk right by a ton of jewelry to get to a pile of dusty dirty Studebaker parts. I know I would. I'm sure that those who know the precious metal market, study, trade, and have the knowledge to negotiate the methods of the market or know how to monetize it. I don't know that market, so I avoid it.

      I have an old high school classmate that began working in a dental lab working with gold. That led him into a hobby making jewelry. His hobby and artistic skills brought him recognition in his skills for making custom jewelry and eventually full-time owner of an exclusive jewelry store. One Christmas, my wife expressed an interest in having a nice gold necklace. I had her to give me some advertisements of several necklaces so I would have something to go by (because she knows I do not value jewelry and have zero taste in fashion or jewelry).

      I took those advertizements to my friend and showed him the cheap costume jewelry pictures. He told me he was not going to lose money but would sell me a solid gold necklace (not hollow thin gold plated wire like the cheap stuff) at cost. So...instead of a price label, he took the necklace and weighed it on a jewelers scale. So I paid the market value, by weight, of the gold. I don't recall the exact price now, but the advertisements from the department store stuff were priced at around $100. The one my wife has was a little under $1000.00 When she first found out about the price...she acted as if I should return it. But, I didn't...and she wears it proudly! In fact, due to my poor taste in fashion... it's the only surprise gift I have ever given her that she has kept. (That's my "Gold" story)

      As an industrial supply salesman in the early 1980s...when inflation was rampant, the market in silver got so bad that I could not price electrical fuses (silver content) to a customer without first calling the manufacturer for that day's price. The same situation existed for the diamond tool business when selling diamond cutting tools used by the glass industry for bevelling glass mirrors and tabletops. I hope we don't see that kind of inflation again, but who knows???
      John Clary
      Greer, SC

      SDC member since 1975

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      • #4
        I did some research and found that the government can call in the gold that everyone owns and will pay $42.22 per oz. It has been done before and at that time they paid 20 some odd dollars. However, for some reason, gold coins dated before 1933 are exempt as collectors items. Something to think about.
        '60 Hawk

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        • #5
          Gold is my livelihood. The mine site that I work at here in NV will pour around a million ounces into bars this year. The company, worldwide will pour about 5 million. I never get to see any of it. it is microscopic, in the rock that we mine, and only becomes gold through the milling process. The upward trend in gold prices have really helped the industry. The governor here has declared us an essential business, so we are lucky to have worked through the pandemic.

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          • #6
            I have an acquaintance that works for a company that makes sensitive gauges. A woman at the company has the job of affixing a thin platinum wire and cuts off very small amounts (1/32"-1/16") to complete the process. Over the years these tiny snippets were saved and add up to a significant amount. There was no protocol for what happened to the cut ends and the last I heard there was a debate over who had possession of what otherwise would have been brushed off the work surface and thrown away.
            '64 Lark Type, powered by '85 Corvette L-98 (carburetor), 700R4, - CASO to the Max.

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            • #7
              BIG money in old Catalytic Converters, due to their Platinum content...

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              • #8
                Originally posted by 345 DeSoto View Post
                BIG money in old Catalytic Converters, due to their Platinum content...
                There's been regular problems at commuter parking lots that are unattended during the work day with catalytic converters being stolen. Drivers return at the end of the day and find their exhaust systems cut. It's probably not too common right now with the 'Rona lockdown and more people telecommuting.
                Poet...Mystic...Soldier of Fortune. As always...self-absorbed, adversarial, cocky and in general a malcontent.

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                • #9
                  Originally posted by wittsend View Post
                  I have an acquaintance that works for a company that makes sensitive gauges. A woman at the company has the job of affixing a thin platinum wire and cuts off very small amounts (1/32"-1/16") to complete the process. Over the years these tiny snippets were saved and add up to a significant amount. There was no protocol for what happened to the cut ends and the last I heard there was a debate over who had possession of what otherwise would have been brushed off the work surface and thrown away.
                  I'm not sure what the debate is about. She was hired to do a job, on the company premises with materials, training and technology provided by the company. The scraps belong to the company, removal could be considered theft. I don't see the difference between this and taking discarded equipment out of the company gate. Not permitted unless the company has provided a release.

                  Now, in the real world, the company should total up the value of what she has saved them and provided recompense of a fashion in-line with her efforts.

                  Bob

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                  • #10
                    Agree with Bob. Trash (even trash that has been set out at the curb for pickup) belongs to the property owner until it is picked up by the trash company or city sanitation crew. At that point, it becomes the property of the latter. Courts have ruled this understanding as a contract, whether written or not.
                    Skip Lackie

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