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Platinum

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    Sweden

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  1. Super Thanks
    Platinum reacted to ChrisSilver in Declaring the condition of your item/coin for sale   
    The below is not a forum rule but simply a recommendation for sellers.

    A seller of a coin (or other item) will have a much better idea of the condition and imperfections of the item, than the buyer has. Of course this is only logical as the seller has the item and the buyer hasn't seen it in person.

    When I myself sell, I try to list every imperfection on the coin. Sure, this likely will put some people off from purchasing but I believe that it is important to be 100% honest. I also understand how it is from a buyers point of view. As a buyer, I (probably wrongly) assume that most sellers are like me and therefore if I see that there is no comment about the condition, I presume the condition is very good or at least good (in my opinion.) When however, an item arrives and there are issues or imperfections on the coin (or other item) it is saddening, but often not worth complaining over. I would however be cautious of that seller in the future.

    In my opinion, telling the condition of a coin from a photograph is hard. Some members are exceptional at studying photos and picking up details, but I personally find looking at a static image quite difficult to ascertain the real condition of a coin. Often a photo will look like there are some imperfections on an item but the actual item looks perfect in real life, and vice versa.

    Though the buyer also has a responsibility to ask the condition, as a seller you know more about the condition of the item. To avoid any issues and to keep the forum trade section transparent and honest we strongly recommend for sellers to disclose the condition of their item. i.e. mentioning any imperfections, spots, milk spotting, lint inside the capsule, damage to the capsule etc.

    Of course, a seller can not state what grade the coin is (unless it is graded.) Those looking for absolutely perfect examples in their collection may want to consider graded coins. But a seller can state if their are any imperfections.

    I already see a large number of members who always list every small detail about their item and I would like to say thank you for doing this 😊
  2. Super Thanks
    Platinum reacted to ChrisSilver in ⚠️ Warning. Be aware of members asking you to contact them outside of the forum ⚠️   
    ⚠️ We have been alerted to some suspicious activity  ⚠️

     ⚠️ Warning. Be aware of members asking you to contact them outside of the forum in regards to doing a trade off of the forum ⚠️

    If anyone is sent / has been sent a private message in regards to doing a trade outside of the forum, e.g. a member has messaged you asking for your WhatsApp or contact number. Please can you hit the report button on the private messages so that we are then able to look into it (we do not have access to members messages unless they are reported)

    We strongly advise members to not communicate with members outside of the forum when doing a deal, and to use the forum private messaging feature which can then be referenced to in the future if needed.

    If you have noticed any suspicious activity please can you bring it to our attention by hitting the report button. 

    Please do your due diligence when trading on the forum. 

    Also see the topic:
     
  3. Super Like
    Platinum got a reaction from 5huggy in The Greatest Gold Quotes Of All Time?   
    Wise words.
  4. Super Like
    Platinum reacted to 5huggy in The Greatest Gold Quotes Of All Time?   
    To heck with it - I am posting here the WHOLE article as I think it is an awesome analysis worthy of disseminating to TSF 
    The highlights are mine! and IMHO correct!
    ***********************
    The quote in the title, “Gold Is Money, Everything Else Is Credit” is attributed to JP Morgan himself while testifying in front of Congress back in 1912 shortly before his death.  I will explore this quote because it was exactly 100% correct back then and even more pertinent today, I will explain.  Before I get to this I would like to mention a couple of things.  First, JP Morgan did not say this; he actually said, “Money is gold, nothing else.”  Secondly, back in 1912 Congress was rarely lied to if ever.  Whereas today hearing the truth is as rare as hens teeth.  Please recall our past Federal Reserve chairman Ben Bernocchio as he lied to Congress when he replied, “No” when asked if gold was money.
    JP Morgan was in my opinion trying to convey the idea (his knowledge) that gold was the money itself and everything else was a “derivative” (derived) from this money.  He understood that any currency, any debt, any equity or receipt had counterparty risk.  He understood that “promises” were made to be broken.  They could be outright broken through fraud or default or broken slowly through the debasement of a currency.  He also understood that the longer the chain of promises became, the more likely that one link in the chain would ultimately break rendering all of the links worthless.
    Fast forward 100 years and we now live in a world where nearly everything is touched by or actually is credit.  The various currencies themselves, all debt of course, stocks, real estate, commodities…everything.  Think about it, margin debt across the globe is at an all-time high.  Real estate has been borrowed against by a bigger percentage than any time in history.  Even commodities have become a “credit casino,” just ask the Chinese who have recently found out that the underlying commodities (including gold) collateral for loans may never have even existed.  Then of course we have $1.4 quadrillion with a very large “Q” of derivatives hanging over the financial world.  This is all credit and it all has counterparty risk.
    I want to be very basic here for those not up to speed yet and it’s always good to review and think about the basics for those who are.  “Counterparty” risk is the risk that whoever you are doing business with does not or cannot perform his side of the bargain.  The other party may go bankrupt themselves or someone that they do business with goes under and makes it impossible for your direct counterparty to perform.  There is of course also the risk of fraud, your counter party gets your money and runs which might cause you to not be able to perform on a contract with someone else.  It is important to understand that counterparties may fail to perform for any number of reasons and it could be any number of counterparties that the “failure” comes from.  The important thing to understand is that counterparty risk can occur out of nowhere, it can occur at any time and it can occur from places that you’ve never dreamed of.
    Why am I talking about counterparty risk?  Simple, because it exists everywhere and in almost everything we do or touch.  You go to work and you “trust” that you’ll be paid on pay day.  You put your check in the bank and you “trust” that when you return, you can retrieve the funds with a little bit of interest.  You go to the store and “trust” that they will accept your credit or debit card and that they will have the items stocked that you are looking for.  The store must have the same “trust” with their banks and suppliers.  The suppliers must trust their middlemen and banks and so do the raw producers.  This “trust” must also exist between banks, brokers, insurance companies and even central banks, treasuries and sovereign nations themselves.
    The above has always and will always be the case, the world must run on “trust” but there is now a problem.  The problem is that “credit” has engulfed the world.  And the danger that a counterparty cascade begins because the risk of a default has never been greater than it is now.  This is because leverage and debt ratios have never been higher.  It is no longer “if,” it is only a mathematical question of “when.”  Again I will go back to a question that I asked you a few weeks back, “Do you believe that the U.S. government is broke?”  A vast majority would now answer “yes” to this question whereas 6 years ago it was considered heresy to even speak about it.  If you answered yes then you are also saying that you believe the house of cards financial system that is based 100% on credit will also come down.  The derivatives chain will break and that everything financial will have a worth or “value” far lower than it does now…because of counterparty failures creating a credit contraction.  Just think back to late 2008 when even central banks became distrustful of other central banks…this next episode will be far worse.
    OK, so back to the title and quote by JP Morgan.  “Gold is money, everything else is credit.”  What he was trying to explain is that physical gold in your possession has no counterparty risk.  Gold does not “derive” its value from anything or anywhere.  Gold is value because it is money itself in the most pure and basic form.  Gold will be THE last man standing so to speak when everything falls down around it.  Not only will it still be standing, it will be standing tall because of fear and panic.  When the credit edifice comes down, people from all walks of life (including governments themselves) will seek safety.  For the past 80 years, “safety” was considered U.S. Treasury debt but… it’s different now.  It is different because the Treasury will not be seen as a safe haven but rather a place to flee from.  Gold’s “value” will benefit and rise as much of the credit created over the last 100 years seeks a place to hide.
    I know that this piece is most very basic in nature but as I mentioned earlier I believe it’s important to every once in a while “refresh” while newcomers absorb the logic.  Truly folks this is what it’s all about and why you own (or should) own gold.  The financial system is mathematically going to come down and the best position to have when this occurs is to have “money.”  Not fake money watch, not receipts or promise money…REAL money because the financial system will need to be restarted.  It will be “restarted” by those who have the money to do it, hopefully you are part of this because those who are will have legacy to forward to future generations.
  5. Like
    Platinum got a reaction from richatthecroft in Today I Received.....   
    Still the coins that were, were beautiful!
  6. Haha
    Platinum got a reaction from silverdocket in Rectangular Dragon-Perth Minth-2020 question   
    Yeye but you get the drift, a bar-sized coin. The question still stands.
  7. Haha
    Platinum got a reaction from goldking in Silver Monitoring Thread $ (USD) only   
    Indeed, great news! Time to load up on more! =D
  8. Like
    Platinum got a reaction from zhoutonged in Rhodium is on Fire - what’s up   
    I believe Rhodium/Palladium prices can keep going up so long as the economy does not decline. Alas when it does I suspect their prices will plummet sharply since they are mostly used in the automobile industry and jewelry. And during economic downturns those sectors tends to get crushed.
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