Is it time for the bears?
The last weeks had a lot of impact on our personal lives and the precious metal markets. With the coronavirus lockdown in Germany social life has reached a low. This hasn't changed much in my life, but as not everyone is an introverted online hermit, things changed considerably for many people.
Even though we don't have an official lockdown in my state, we are urged to only leave the home if absolutely necessary. And you can't really do much aside from the necessary anyway. Everything is closed at least until the 20th of April. Only drug-, hardware-, and grocery stores are allowed to open along with banks.
Other businesses either continue work if they can or file for reduced working hour money. Most do the latter. In my company, which is a software development company everyone is doing home office. Luckily we can do that, others can't. And that is a big problem.
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Chile 50 Pesos 1970
It's looking similar all over the world, and governments are stepping in by throwing money around. The European central bank started with up to 750 billion, USA 2.2 trillion and South Africa starts quantitative easing. The precious metals market should be thrilled, but somehow it isn't. In that current situation, both bears and bulls are just confused.
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France 20 francs 1887 Napoleon Bonaparte III
But that didn't stop me from "panic buying" a couple of gold coins. Which I'll share with you in this article. The interesting part is, that the premium on precious metals has been rising since. The reason is most likely that most mints have shot down along with mines. And that caused an artificial shortage of precious metals and the resulting products. Which should resolve itself after the lockdown.
But for now, I think I'll stop buying from certain dealers. gold premiums for bullion are around 7% from 0.x just a month ago. And the silver premium rose to a crazy 56%. I won't mention the other precious metals which reached three-digit percentages over spot in Germany.
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German Empire 20 Mark 1873 Emperor Wilhelm
Others did some panic buying as well, but mostly toilet paper and some pasta. Others tried respiratory masks, disinfectants, and soap. It does tell something about the stupidity of people. We have neither a food shortage nor do most people actually need respiratory masks or disinfectants. People in the healthcare system actually need them, others don't.
The only thing they need to do is wash their hands. Thoroughly and regularly. Disinfectant is only a replacement for soap, not necessary for normal people to have around.
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Soviet 10 Rubel 1976 chervonets
I hope you are all staying healthy and safe in those crazy times. With some luck a vaccine is around by early 2021. This should ease the situation considerably. Until then, keep on stacking, wash your hands, cough in your ellbow and keep social distancing yourself!
Stacking saves dragons from unemployment, just like Elly my plush dragon
Now that's my kind of panic buying. Lovely gold pieces too. In my last post , I bought both silver and gold from my local store just before the last retail bullion went into hiding as the Premiums were rising and before my Canadian currency took big hit against the USD. Glad I pulled the trigger when I did.
Thanks for sharing @bauloewe
I saw them too, very cool pieces from the RCM :D
I like the 20 Francs gold coin. Thanks for sharing the Chili, German and rubel coins, I do not see much of those shown here. I wonder what you will pick up on your next "panic buy"!
Be safe and take care @bauloewe 🥰🌺🤙
Hey, thanks :) Napoleon III makes for a nice coin. Imo better than the 20 franc rooster.
And I have something else lined up which should arrive next week. But its more numismatic, so no point arguing about premium there ;)
I do have both, and because I am a girl, I like the Marianne/Gallic Rooster gold coin!
I had to have a second look at the rooster and I have to say I misjudged that coin tremendously.
I thought it was just a skinny rooster with elongated legs and always scrolled past them. I definitely missed some details :D
The flower betweens the rooster's legs is a nice detail and the edge decoration is just beautiful. I haven't seen that on other coins yet.
Hi Good post. Question: How do I make a post in our community? Do I use hive-136819 as first tag ? With # or without # ?
Hey, sorry for getting back so late:
I was trying to look at the post data on the blockchain. But my Dev environment was a bit broken. After looking at it I'm no smarter than before.
On peakd.com you can select from a dropdown menu when you create a new post which community you want to post to. If you pick silvergoldstackers it just changes the category to hive-136819. It doesn't add it to the tag metadata. So I assume if you put hive-136819 as your first tag it should post in this community?`But I can't guarantee that yet. Need to for "science that" soon.