Who Will Buy Your Gold at $5,000/oz?
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- Опубликовано: 22 июл 2024
- Who will buy your gold at $5,000? Or at any high price? Would you be able to sell 10 - 20 oz or more on a big price run? I talked to two local shops and one online dealer to get some answers.
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We already had a price run and guess what? People are still buying gold. Similar question was posed in 2008 with $800 gold, "Who will buy your gold at $2000?" Here we are.
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All it means is the dollar is depreciating.
Good point
@@lamarravery4094 Imagine what it would be if the dollar wasn't world's reserve currency. Oh, wait, you don't have to. Gold is breaking parabolic in several other currencies.
@@lamarravery4094 Which also means that holding one's wealth in a depreciating
asset, in this case US$, is a bad idea and that owning some gold is not a bad idea.
Who will buy your gold at $5,000? Oh, I don't know, who bought bitcoin at $50,000? Seriously, if NO ONE would buy gold at $5,000 the price wouldn't get to $5,000!
Yeah, more or less the take given in the video for the situation of a steady climb. Cheers!
Rich people could .
Pretty obvious. I find it so strange when people say this. It’s like they have no understanding of what price is.
And Bitcoin only works if you got a signal
Idiots bought Bitcoin at $50k. If $50k is the price for gold, those who can afford it will buy it.
Exactly two years ago, one ounce Rhodium bars were selling for $30,000 and being purchased by coin shops nationwide and locally for $28,000 each with no problem whatsoever. If you had twenty ounces, they would immediately pay you about $560,000. In other words, when gold reaches $5,000 per ounce that will not be a big deal. $5,000 is just a drop in the bucket. $5,000 is only worth $1,000 today, compared to 40 or 50 years ago.
Truth. Everything is speculation at this point. I've bought gold at less than 400 dollars per ounce. If you were trying to buy gold today. You would have to wait to get your hands on it.
Wvrja
Rhodium is a HIGHLY illiquid market. You couldn’t have found anywhere near that amount. I looked into buying it in 2018. Spot was 2k ish and the most I could find was 1 oz for 8k! I passed because of how hard it is to move. Too much risk
When gold was $300 something,people used to say “who will buy your gold at $1,000?”
Yep!
There will be panic buying and it will sell. I "seem" to remember gold at $150.00(ish) and being unable to pay so much. Smart shopper ME, decided to wait until it came down, more reasonable. Never did. I do remember waiting, seemed a LOT of people were just like me, waiting.
Also Silver dollars were FREE, well "at cost" $1.00 each from the bank, you could buy all they had at the time. This went on for a LONG TIME. couldn’t give them away.
@@Bill-xx2yh lol,it must have gone in the opposite direction.
If gold goes to $5000 an ounce we will have gone through major inflation and it will be bought right away. They were saying the same thing when gold went to $1000 and when it was heading to $2000. It will be bought at almost any price.
Yeah, the question will always come up. I tried to cover it from different conditions. Cheers!
The best way to answer that is also to ask the ratio of those between a nicely tailored suit, dinner and a movie, a side of beef , a barrel of oil and a bushel of wheat.
@777 Trader you don't understand it. Gold went from 35 to 850 in a couple of years. Multiples and it will happen again until we get out of this fiat garbage!
@@777trader8 if the price were $5000 today of course people wouldn’t buy because the supply and demand has it lower. If it were $5000 then more buyers would put their gold on the market which would push the price down.
I think the unstated premise of this is that the price hit $5000 organically through a balance of supply and demand. $2000 today for someone a few years back was what $5000 in the future seems like to us.
If/when it comes, $5000 then will feel like $2000 today.
@@TonyL-gw4qx yes sure.
They said no one would buy at $100. They said no one would buy at $500. They said no one would buy at $1000. They said no one would buy at $2000.....
They don't have a good track record! 😄
@@2is1gold 😆
We should stop listening to them.
They don’t know what prices are. They don’t even understand the most basic economics. Listen to someone who does.
The problem is that people look at prices in todays money. Not many people today would spend 5k on gold. But in 10 years different story.
The people who tell us that we can't eat gold, must think they can eat the Fiat currency that they are using and is being devalued on a daily basis.
Ha, it always strikes me as a dumb comment. 😅
@@2is1gold Yeah, but you must admit, Fiat offers more fiber. 🤣
Actually, they CAN eat fiat currency. It's main benefit is that it is self-wiping. 😉
But the "can't eat it" argument is completely illogical in that there are a great many things in this world that have value but that also are not edible. Can't
eat my house, my car or truck, my chainsaw, my g_ns, my am_mo, etc. But they have good value anyway. Some of them even allow me to procure food.
Maybe we should stack survival food as well as gold and silver :-)
@@bujmoose3992 Definitely, but I am not going to stack $100k of food. 😄
I remember $35.00 an oz. It's still selling and being purchased.
Exactly- most people don’t understand the price of gold does not change, it’s the purchasing power of the fiat currency that changes and supply demand. But supply demand is not the main reason gold goes up
Are you like 200 years old??
@@adamo36532 probably closer to 70 my dad did a tour of the Canadian mint in grade 7 he said they could of bought a ounce for 33$ Canadian. He went with the chocolate versions instead because he could eat them on the way home.
8 years ago, in 2015, I almost sold my south Florida condo for $115,000; a nice price at the time. 7 years later, in 2022, the exact same villa in the building next to mine sold for $287.000, in a bidding war. Who would have guessed that in a period of 7 years my condo's value would soar by 250%.This is a similar scenario to gold rising from $2000 to $5,000 per ounce.
Yeah, the market supports what the market supports. Cheers!
We call this inflation from money printing. When gold was 500 everyone talked about no one would buy at 2000. But look at where we are now.
@@brucey5585yeah with money that has way less value now
This gain you say is 250% is not actually... it is about 150% if you calculate the percentage change... go learn some math.
How did you calculate 250% change in value? That math doesn't work.
I'm 62 and too old to worry about gold hitting $5000/oz. Would like to see it break $2500 in next 3 years
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Heck, son, you're still a kid. lol I'll be 74 in a couple of months and you're right about not worrying too much about the future gold prices. The good part of this is that
we have some gold as a financial backstop and as an asset we can pass down to our kids and grandkids, if it turns out that we really didn't need it. Funny how such
things used to look so far in the future but seem a lot closer these days. But, it is what it is and no one gets outta here alive.
2500 in 3 years... 3000 in 8 months
@@jebruinc6411 I don't like to set dates and numbers, but when the runs on metals start, things will go very quickly.
Considering fairy dust is selling for over $27,000 today, there will be plenty of buyers lined up at $5000 an ounce. Cheers!
Ha!
I have a small amount of this “fairy dust” because it enables the individual citizen to have unique ownership in the digital realm: if you own the private key, you own it (unlike the coming CBDCs that our marxist overlords will have full control of). I think this aspect of “fairy dust” has some value. How that value should be quantified into fiat currency value, eg $27k or 50c or $1mill, I can’t say. That’s why I only have a small amount of this “fairy dust” compared to precious metals. But I support it in the face of Mr Schwab saying”You will own nothing and be happy”! 😉
@@dinsy512 Interesting view of something that only exists in a virtual world solely based on the greater fool theory. It's a fart in the wind and as such it requires digital images of gold in the shape of a coin while using 'coin', 'mining', and 'wallet' for the masses to play lip service to it. Transaction fees apply and it must be converted to fiat for settlements. Those who enjoy gambling that grew up with a smart phone as part of their being certainly have flocked to all forms of it as well as NFTs.
The Schwab reference sums that stuff up quite nicely as no 'virtual currency' or NFTs exist so yes, I guess his aim is good with that arrogant statement. Cheers!
@@dinsy512 I don't own any cryptos but can see their value to those who live in countries with draconian capital controls. National borders are not much of an obstacle
to cryptos. This is one of the major reasons why nations will be outlawing cryptos, especially when they have their own CBDC. National governments and central banks
derive enormous power from their ability to create "money" from nothing. Neither has a good record of sharing their power unless they are absolutely forced to do so.
Like BitCoin.... LOL.
In Canada gold is already selling for $3000 an ounce
Bare in mind that by the time gold reaches 5k, wages should also have increased significantly in relation so it won't be as much of a jump as we think it is now
makes you wonder what would be the prices of goods and services if gold hits $5000 and gosh what would the dollar look like thanks for sharing another great video it sure got me to thinking peace and ty well appreciated .
Your presentation is thoughtful and easy to listen to. Thanks
I agree!. Informative, well thought out, and easy to understand.
Greetings from Sydney! Thanks bro for another awesome video! Very refreshing!!! Love it! Sending love, peace and health to you and your family ❤😊
Thanks! 🤜🤛
First person I found to actually have this topic, thank you.
Gold and silver are 4th level back to keep you from starving after a worst-case scenario. They are behind 6 months of food (rice and beans), a garden, and an orchard. Yes, my grandparents described the great depression.
Agreed.
@@_outofphase5480 All my neighbors have chickens and cows.
@@kellyharbeson18 I have a 50-pound bag of rice in gallon jugs. I will grow my own corn using compost and other organics. My neighbors and will be ok.
My orchard is doing great. Olives, pears, nectarines, and persimmons have already been harvested.
@Kelly Harbeson Rice is available at low cost these days and can be stored for long periods of time. It makes a pretty good staple for a food stack. So do dry beans.
💯 on the info 👌 !
I have a feeling your right !
I see that for property investors are getting loans for minimal interest to go by up all these house that are about to be dumped. And cadh out why we sit empty .
I'll buy gold for $5000 if I see the dollar hyperinflating, in a second just as most will. Good video👍
Thanks!
After that great intro, this one got an instant up-thumb. Yet another relevant subject handled with proper depth of scope. Thank you, Sir.
Thanks!
For the unfamiliar, could you do a video comparing the size of Buffalos & fractional Eagles to common currency (nickels, dimes, quarters, halfs)?
At $5000 an oz, the person who would buy is the same person who would buy 2 oz at $2500 an oz. Did people worry who would buy at 1000 when it cost 500?
Yes, some did. In fact, gold prices have been a topic of debate ever since it got to $35 an oz. back in 1933. But here is an interesting point. Social Security
started making benefit payments back in 1935. At that time, the usual pay-out was $35 a month. Oddly enough that was equal to the price of an oz. of gold.
Today, the average SS benefit is around $1700 a month. An oz. of gold is just above that but it's close enough to say that the SS benefit payment from 1935
until 2023 is similar in terms of its buying power. An oz. of gold is higher priced than the $1700 average SS benefit of today by about $475 or so. Saving in
gold for one's retirement seems a pretty decent idea, along with other investments, of course.
There will always be FOMO when prices run up.
Great video.
Thanks!
When I started stacking gold could be sourced around 700/OzT. It is possible that I will, eventually, look back on purchases around 5k/OzT and regret not purchasing more.
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My fault of my lifetime I wouldn't buy it at that level.... Most of my gold was at 1900$
Your dollar had more value back then. 700 was alot of money back then.
@@tommoore4717 Along the same tangent, isn't it disturbing that approximately 60% of Americans couldn't put their hands on 1k in short notice without incurring debt?
Thanks 2 is 1, another sound, rational, educational video! Absolutely LOVE your classic books as well.
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I found out a funny thing about human nature & psychology. When things are cheaper, nobody wants it, when the price jump to outrageous levels, people will fall over themselves to procure it. So when Gold blows through 5k and silver above $50 per troy ounce, there will be a line at the LCS to sell but there will be a longer line into the street to buy!...
Yep. “Wisdom of crowds”. Cheers!
1830 - Who is going to buy your gold at $50/oz? lol
1953 - Who is going to buy your gold at $90/oz? rofl
2000 - Who is going to buy your gold at $700/oz? lmao
2050 - Who is going to buy your gold at $65,000/oz? ROFLMAO!!!!
My thoughts have never been to sell my metals back, but to use them to purchase other things if and when need be. The thought of selling back to a coin dealer sounds short-term thinking or an emergency. But, again, if that time comes, I will use it like we do fiat.
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@Kelly Harbeson While such a dire situation is not impossible, it also does not seem to have high odds of occurring.
PMs are definitely buy and hold assets. Many who stack know that PM ownership is likely to be a lifetime purchase.
Good stuff. If you think about it next time and don’t mind, please ask if they buy Sovereigns.
I think its more of a case of people not selling. We've had a good run of Gold prices going up and at the moment here in the UK, its getting difficult to find anything worth buying, (particularly pre-owned) at a sensible price. As you say, the higher the price the more people rush into it. When Gold hits $5000, (£4000) I will let you know if I want to sell anything from MY stack, at the moment the answer would probably be a resounding NO, and I will probably still be adding to it.....though at a much slower pace, unless that £600K house is back on the market for £300K!!! 😁
Then, a loaf of bread will be 20 bucks. It's all relative
Excellent shit.
Make sure your state makes gold and silver legal tender. Currently there are 12 legal tender states and Kansas I has a bill in the hopper.
U B Welcome!!!
Blessed are the Peacekeepers!!!
BTW… Thanks for your “bandits” behind you ~ and, can’t wait for the Silver Guy to be un-blind-folded!!! 🎉
I'm more interested in when folks will start buying goods with gold and silver. Also curious if we can exchange ounces for kilos if we buy enough ounces with minimal fees.
Thanks for the great video. I'll admit I'm not a weekly follower, but that looks like a really nice folder on the right side. What kind of knife is that?
That's a Rockstead Higo II X-CF-ZDP. Cheers!
As usual level headed information, advice and research with your coin shops. Great content pal!
Thanks!
If gold was to hit $5000 id hate to see what else is happening in the economy and how society is effected, so I honestly think if it goes up that much the last thing educated ppl will want to do is get rid of a hard asset like gold for something that's worthless
Always appreciate your reality based take friend! You articulated so many good points here. I have always been fascinated by the unique phenomenon of buying mania on price runs of pms. 5k gold insinuates devastating inflation levels. Likely at that point the dollar will not be the primary valuation metric for anything. The end of times fantasists can make all the plans they want but in truth we are soft collectively and these scenarios represent a brutal and needed reality check. Financial stress takes a back seat when day to day life is a constant primal attempt at survival.
Just took my daughter to the orthodontist and it’s gonna cost me over 3 oz of gold. 😢 oh the pain.
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Great videos! I just found your channel, and have learned a lot so far. I have a QUESTION on the coming CBDC. I understand that the government can implement a "use it or lose it" option or they may not. Do you know if that will be a part of the rollout, or has it not been decided? Keep up the great work and thanks!!
Hi Carol. I've covered CBDCs a few times now, and I'd start by saying not to worry too much yet. A CBDC may take a very long time to gain approval in the U.S. and will not be able to force total adoption. What you're referring to is the possible programmability of CBDCs. That particular case is completely hypothetical. I gave it as an example of what could happen last year but gave it in the context of stimulus dollars going out, not for entitlements or savings. Even the most basic rollout is probably a long way off. RUclipsrs are pushing fear for views, acting like FedNow is part of a domestic CBDC rollout, which it is not. Some channels have actually said THE END is July referencing the first phase of the FedNow payment platform rolling out. Again, they're just pushing misinformation and fear to drive views. We'll be fine. Cheers!
Great video !
Shuod I buy 1 ounce Coins (5 of them for start) or Go for the 5 ounce Bar? If to buy coins so same type or diffrent ?
I will start with silver and in between buy 1/4 Gold Coins
and what about buying 1Gram and 2 Gram Gold Bars ?
When the dollar fails. One oz of gold will be 5000. The dollar will obviously be less than half of the current price.
2 is 1 you need the Benchmade Infidel as a sexy knife backdrop. I just picked up one. Nice auto OF knife.
It's like any other asset. The price is determined by what people are willing to pay. If the price hits $5,000, then BY DEFINITION that means people are willing to pay $5,000. If nobody were willing to buy your gold at $5,000, then again... by definition, that means the price did NOT hit $5,000 in the first place. The price is NOT set first, and then you see if anyone's interested. The price of gold is merely defined by "what are people willing to pay right now?"
Agreed. 🤜🤛
I know, right? It's a silly proposition.
Being so new to the PM game I’m not worried about selling, I’m worried about BUYING! As price increases my cash isn’t increasing to match. I’m hoping it comes down and stays under $2000 for the next couple years so I can catch up on my stack.
@@tweety7353 What is funny is this post could be verbatim on a pro-Bitcoin video, just substitute AU/AG for BTC. It's funny how similar both camps are but they hate each other. LOL.
Great information. Thanks!
I would have a hard time parting with that much gold lol... Even if i needed the cash. Takes so long to accumulate and a minute to sell. I'm always here till the end brother 🤙🏻
Absolutely!
We could also phrase it, "Who will want dollars when 5,000 of them will only get you 1 ounce of gold?"
Exactly. Nice way to look at it, IMO.
That's exactly write
Really enjoy your view on the economy and your knowledge on metals!
Thank you!
this is a tough one. price runs up do you pull the plug for safety or diamond hands it so you're still on top?
Just bought my first one ounce buffalos as always I appreciate your perspective on the universe
Nice!
How about ungraded Constitutional gold like quarter, half, whole or double eagles? Are they easy sells?
Yeah, pre-33 is popular. Cheers!
High prices are the cure for high prices, or at least I hope so as I’ve been sitting on the sidelines the past couple of months.
Silver Seeker is the name of the channel that calls around to various shops on buying and selling silver and gold prices.
My wife has no interest in this. So I’m playing this in the background so she catches the gist of what you’re saying. She’s afraid I am going to become a border of wealth without enjoying it.
This was excellent. Thanks for that.
those local dealers are only buying if their wholesalers are buying them from them as a pass-thru
You’re the best bro. Always a clear head
Hey, thank you!
People think that it would be difficult, if private sellers, yet no one is thinking about using it as collateral or credit lines within the business market.
(Banks, private farms)
You’ve got me thinking that I should look through my coins and exchanging some obscure items for Eagles, Buffaloes and so forth… Things that easier to sell if the needs arose.
What I've tried to do is sell them off at highs and hold onto the cash for the next pullback. Some dealers don't mind obscure, though. It all depends on your local options. Cheers!
i buy the same thing when it comes to gold and ill play around with the desings and mints with silver
Another Great Video. 👍 Thank you. 🙏
Thanks!
Thanks good information
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Also I'm a bank owner and a firm believer in banks and safety deposit boxes are cheep rent in a vault that u have access to even if the bank is closed so think about that.
How do you access the vault if the bank is closed? I call BS.
I believe gold will reach 5k/oz finally, but should be over decades. Though I wish gold be higher, 5k/oz means serious inflation of the whole society, don't expect that day..
If it goes to 5k. Your chances of getting eipped off will be 1000%
If gold goes to $5,000 an ounce it's likely that I won't be selling. I appreciate the honest look at something that, while it will likely never happen, makes people feel good to know they have an out if it does. Thanks!
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@Kelly Harbeson The choice part in this is owning the gold and silver to sell when we most need it.
Those who could own PMs but have chosen not to will be the ones who are REALLY sorry.
Very interesting video. Why are online dealers spot price are different than my local LCS? My LCS prices are a little lower than on line bullion dears. Selling to them is tough because of insurance, shipping ect.. Can you explain why there are different spot prices? Local spot prices and on line spot prices. Thanks
While the markets are open, the price of gold is set by bidders vs. gold holders. Because of this, the price fluctuates throughout the trading day.
Gold is traded around the world, so markets are always open somewhere and can be traded by those who have set up trading accounts. Added
to this are the "bid" and "ask" prices, which also differ somewhat. Some places quote gold at the bid price and some at the ask price.
Thanks ❤for your time
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3 gold oz for a truck. 1/2oz for a used car is my guess for the days ahead if gold is revalued to true worldwide demand after paper market and petro dollar collapse.
I like the knives you put on display in your videos. I have a little collection as well.
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I saw ur books, 3 of the 4 greats.. Missing one ?
agmrf, silver mountain resources almost in half from where you mentioned it. What are you doing with it? Are you posting an update on that? With Silver at a short term high, you would think it would be higher not lower.
Their stock price was $0.15 September 7th when they sponsored a post. It doubled in a week. I didn't know it was going to do so well so soon. I don't know why it's down again right now. I never know what's going to happen with stocks. I wish I did.
Look at the debt clock for the fundamental value of gold. $5k is peanuts.
If the dollar crashes, what good is discussing banks in up the first place?
The only thing I would do to capture profit would be to convert silver directly to gold and sell gold as little at a time as possible to pay the bills. Silver I play with, gold is my store of value and a permanent hedge to cash. Everything else is vapour.
He’s referring to Silver Seeker, great channel
Great info
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If the price goes to $5000 you will not want to sell it
I think the higher the Gold Price gets the more holding some fractional could become an advantage when it comes to selling.
For example: A lot of people buy Bitcoin. But at today’s prices, how many actually buy a whole one?
Yeah, good point.
The bankers will always buy gold. I’m not worried at all
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@@dudewhathappenedtomycountr9099 I guess I should have said, the rich will always buy gold.
I sold some silver during the last mania run. I think it was between 40 and 43 dollars at the time. I remember thinking there was no way they would want to buy it. But, to my surprise, there was literally another guy there waiting for me to sell so he could scoop them up, lol. From what I could gather from the shop owner, they sell MORE when the price gets weird. Back then old Engelhard bars were nothing special; now I wish I had held on to them...
I thought I was the only one who remembered that Engelhard bars were just another bar and now those ugly bars are considered collectable 😂😂😂
If „buyers arent buying“ the Price falls and buyers buy again. We see that every day.
Yep.
If there is a sudden run-up in price and it is not a SHTF situation (think $50 silver in 2011) then it is likely that the market will be skittish and many more sophisticated buyers will be buying only at significant discounts (think 20% behind spot). They will want to avoid getting stuck with a lot of expensive inventory if the market suddenly retreats.
But you WILL be able to sell. Your best chance will be to sell to other individuals who are willing to buy near spot or at a lower discount. E-Bay and other peer-to-peer selling platforms will go nuts.
Did you manage to pickup one of the 1/10 gold 2022 Ghana aliens? 1000 mintage. Would love to see it in a vid
That one flew above my radar.
Again, the voice of reason. 🙏
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My gold isn’t for sale, respect & love for the content
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Think. I'd stay with 1/4 1/10 1/2 oz gold but I do have a 86 st . gaudens love them 😅 probably was 400$
Great video!
Central banks, goldsmiths, Indians, commodity traders, and retail FOMO buyers will be buyers of gold at any price. Remember, people were still buying Bitcoin all the way past $60k. I will also be a buyer of gold at any price when I can make a good ratio trade with my silver, or with excess cash if there's no better place to put it.
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I just think I would sell at a certain no. But I'm not desperate so I'll go the long route private sale might take a year but that's what I'll do. Also if you r buying looking at the price tag and thinking of selling maybe you should rethink your situation and buy some stocks and get some new Nike, cus if u dnt like what u r doing it doesn't work get out now. Cuz I will never sell n I don't worry about no,s cuz I like what I'm doin
Always great info!
Thanks!
Exchanging your golden silver for fiat money?
The price action from 2011 until now has really given the precious metals people normalcy bias. They think gold will trade for under 2000 per ounce forever.
Why would anyone think that when we know what the prices of gold and silver have done in the past? This is the proof that anyone would
need to see that it is the great fiat debt paper currency experiment that is now on life support, not gold or silver. Prices spiked in 2011 due
to a number of factors, including a near-miss with the so-called debt ceiling not being raised before a national solvency issue occurred.
We have that same issue today and it will be interesting to see how or even if it gets resolved before its deadline is reached.
@@edb3877 Many do. Just browse the metals channels.
you could have said this when gold was $250 , who would buy your gold at $2000, lol
Yeah, I’m sure there were plenty of people saying it then.
Metals won't be overpriced if there is buying demand at that price... Duh
You’re overestimating the ability of haters to use logic. 😂
@@2is1gold 😂
Fire and Brimstone... I'm gonna need a bigger garden.
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Great video💯💯💯
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Looking at the price of a 1oz 2021 - W gold Liberty High Relief on APMEX, if those go out of stock, you have your answer.
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@@2is1gold … in less than 10 hours, ungraded 1oz gold 2021 - W Liberty High Relief coins selling for $4999 ea. are sold out! 🤣🤣🤣
The same question was asked when gold was $35 per oz fast forward to $800, $1100, and nowv$2000...
If gold moons, you’ll sell it to an online dealer, deposit the currency in a bank, let it season for 60 days, then buy real estate. That was easy😉
Some states are passing legislation to allow people to pay taxes with precious metals. Those states are also working on creating their own PM currencies. Soon enough folks will be able to use gold to buy real estate directly. I also read that mortgage lenders are including new language in contracts to allow for buyers to make mortgage payments with gold.
Hi. Do you still have to wait 60 days even if you can prove where the money came from?
I sold JM Bullion some platinum last week in two orders spaced 1 day apart. My order numbers were a few hundred apart. That’s a lot of orders in one day! Also, they paid 2.5% over spot which was the highest I found online or at my LCSs.
Nice!