Chase achieved their goal, 100% recovery of any money loaned to you.
OTOH, I assist an elderly gentleman managing his meager finances who owes $6k on his card. Only income is SSA and a pension, neither one of which can legally be attached and he owns nothing.
If his min payment goes up, I'll advise him to walk (he'll have little choice as the money just ain't there) and Chase will have 0% recovery.
My new abode is close to the UP rail in PHX, they've been upgrading tracks since February, volume is up(especially going West) but nowhere near even a year ago, let alone the peak.
I'm assuming Corus goes Bank Failure Thursday, as the holiday for Feds is the Friday the 3rd.
picosec (profile) wrote on Fri, 6/26/2009 - 8:54 pm
Chase achieved their goal, 100% recovery of any money loaned to you.
OTOH, I assist an elderly gentleman managing his meager finances who owes $6k on his card. Only income is SSA and a pension, neither one of which can legally be attached and he owns nothing.
If his min payment goes up, I'll advise him to walk (he'll have little choice as the money just ain't there) and Chase will have 0% recovery.
One wonders what their calculus is?
My thoughts precisely. This increase in min due payments will push good credit out of the portfolio and will push bad credit into default. So instead of collecting 2% for a little while longer, JPM opted to flush bad credit out of the portfolio. Weird ...
I just took a look a the US Mint site and all I see are the ultra-relief Eagles (proofs) -- no unc bullion.
I don't ever buy Au proofs or bullion since the mint charges a premium: Eagle proofs (ultra-relief) -- $ 1,289 + shipping, etc.
If I want bullion -- which I don't ( I have a dozen Eagle plus some smaller sizes I've been holding for a decade+), I buy it directly from local sellers looking to unload.
I prefer to own vintage US coins (c. 1800s to early 1900s), which often go for a modest premium above gold content value. That proof Indian head is mighty tempting, though .
sam, what is the current market like for 1900-1930 st gauden's in terms of the 'collector' premium? any thoughts on how this compares to the past few years?
Phoenix is hosed for CRE, RRE, K12 & collegiate education , the education issue is why most companies won't place corporate HQ here. All that on top of a state house that makes California competent in comparison?
buncha bagowners hang out round these parts of piracy.
positioning for the Energy bill has been underway for about a year now....get clean green shoots, dont smoke the mexi stuff. The best Green comes from Canada for the NAFTA snipes.
"I would have to guess that the collector's items would outstrip straight bullion prices"
of course, it would be near-impossible otherwise (though a really beat-to-hell krug might test that theory).
i'm just curious as to what the actual history is of the % premium for a given series. st.g's from the teens and twenties @ ms-62 through 64 are probably the only ones with a liquid enough market to give an answer to that one. i'd guess that this 'collectible premium' generally ebbs and flows with strong asset inflationary waves (2002-2006, 1968-1979, etc)
The one ounce proof is running $2500 in original box.
That is double what it cost.
The only disappointing thing is the number of fakes already floating out there.
Get a portable scale before you keep buying morgans.
But all coins are heading into chinese fake devaluation.
Just makes PCGS, NGC, and ANACs richer.
I have coins for trade, and coins for keeping.
Those are for keeping.
There are rumors that pre-1933 gold is "safer" from confiscation since it is considered a collectors item. However, I don't believe confiscation is real threat any more, the gold market is too small. The higher premiums usually benefit the dealers so I stick with bullion, but maybe pre-1933 has performed better over time. I don't know.
"I doubt even serious dealers gather that kind of info, and if they did, it's proprietary. "
well, i'm sure many collectors have a good anecdotal sense, and a few dealers who have been around since the last gold bull definitely have some charts hidden away - but you're right, dealers aren't too anxious to give up all of their info.
HollywoodHack (homepage, profile) wrote on Fri, 6/26/2009 - 9:18 pm replyIgnore user"I prefer to own vintage US coins"
sam, what is the current market like for 1900-1930 st gauden's in terms of the 'collector' premium? any thoughts on how this compares to the past few years?
Hollywood Hack --
I collect as a hobby, not an investment.
Historically, coin collecting has not been great investment vehicle--unless you happen to run across one of those really rare pieces. You can pick up an avg St Gaudens for about $150 over $/troy oz Au, if you're lucky.
What I mean is to cap the available credit to the current balance and keep the 2% minimum payment with no new charges allowed- or even to keep the 2% payment and freeze it at that level- in which case my account would have run off in 5 years as opposed to two years.
Maybe the drivers just gained weight from all the stress.
REPOST FROM PIGGED THREAD:
Citizen AllenM..,.
Chase achieved their goal, 100% recovery of any money loaned to you.
OTOH, I assist an elderly gentleman managing his meager finances who owes $6k on his card. Only income is SSA and a pension, neither one of which can legally be attached and he owns nothing.
If his min payment goes up, I'll advise him to walk (he'll have little choice as the money just ain't there) and Chase will have 0% recovery.
One wonders what their calculus is?
PS: Congratulations to Nemo once again.
Green shoots weigh more than empty hope.
Razorbacked....
Soooooooo WEEE !
Nemo, quick and quick witted. Nicely done ...
the chart looks like a septuagenarian who has swallowed some outdated viagra
Nemo's good, but that one was a repeat from a prior truckers' report. You see, Nemo's comments are the only reason I check the comments.
picosec- this is a failing strategy- as your elderly friend's default will show.
The best strategy would be to allow the account to go into runoff at the current payment.
The strategy of stress testing credit card holders is destined for failure.
Someday this war's gonna end...
Maybe the drivers just gained weight from all the stress.
Nemo, you are so first-worthy.
juvi, smoke the shoot and poke the pig.....
The Bair which project
Has a gross surplus of banks
All underwater
Anecdotal piece:
My new abode is close to the UP rail in PHX, they've been upgrading tracks since February, volume is up(especially going West) but nowhere near even a year ago, let alone the peak.
I'm assuming Corus goes Bank Failure Thursday, as the holiday for Feds is the Friday the 3rd.
picosec (profile) wrote on Fri, 6/26/2009 - 8:54 pm
Chase achieved their goal, 100% recovery of any money loaned to you.
OTOH, I assist an elderly gentleman managing his meager finances who owes $6k on his card. Only income is SSA and a pension, neither one of which can legally be attached and he owns nothing.
If his min payment goes up, I'll advise him to walk (he'll have little choice as the money just ain't there) and Chase will have 0% recovery.
One wonders what their calculus is?
My thoughts precisely. This increase in min due payments will push good credit out of the portfolio and will push bad credit into default. So instead of collecting 2% for a little while longer, JPM opted to flush bad credit out of the portfolio. Weird ...
With all the inventory shrinkage, it stands to reason that trucks would be hitting the road more.
Trucks are the new warehouses. Just in time, but higher diesel prices would hurt volumes.
flushing the chumps, is like dyeing at the palace.
when you die at the palace you really mint at the press.....
didja see how I pulled the allenM pigged comment from the previous thread
The Golden State was admitted to an emergency ward today, after botching an apparent suicide.
It tried to drown itself in debt, but it didn't take.
Comrade Alexei- so you think Pahoenix is going for yet another drop?
I do...
Someday this war's gonna end...
Citizen AllenM,
From previous pigged Thread:
I just took a look a the US Mint site and all I see are the ultra-relief Eagles (proofs) -- no unc bullion.
I don't ever buy Au proofs or bullion since the mint charges a premium: Eagle proofs (ultra-relief) -- $ 1,289 + shipping, etc.
If I want bullion -- which I don't ( I have a dozen Eagle plus some smaller sizes I've been holding for a decade+), I buy it directly from local sellers looking to unload.
I prefer to own vintage US coins (c. 1800s to early 1900s), which often go for a modest premium above gold content value. That proof Indian head is mighty tempting, though
.
bleated the gloden blokes....
The climate bill was shipped to Washington, so expect tonnage to be even greater this month.
Back from a walk in the Bretton Woods, where I met with the Congress & Senate groups in a rather one-sided conversation, in the forest for the trees.
Is there a JD to English dictionary?
"I prefer to own vintage US coins"
sam, what is the current market like for 1900-1930 st gauden's in terms of the 'collector' premium? any thoughts on how this compares to the past few years?
Phoenix is hosed for CRE, RRE, K12 & collegiate education , the education issue is why most companies won't place corporate HQ here. All that on top of a state house that makes California competent in comparison?
Yeah, the other shoe has yet to drop.
buncha bagowners hang out round these parts of piracy.
positioning for the Energy bill has been underway for about a year now....get clean green shoots, dont smoke the mexi stuff. The best Green comes from Canada for the NAFTA snipes.
Which is sexier,
Failing banks or truck tonnage?
So hard to decide...
Brake Failures can be exciting...
HH - dig around here
https://www.apmex.com/Default.aspx
No, but if you find the Elvis to English dictionary it is the same thing.
thanks, bar. this is the stuff i was talking about:
https://www.apmex.com/Category/226/2000_Double_EaglesSt_Gaudens_1907_33_Certified.aspx
interested to see how the ms-62 (or 63 or 64) stuff has performed relative to straight bullion.
No, but if you find the Elvis to English dictionary it is the same thing.
Didn't Tolkein write one of those?
"Chief Economist Bob Costello said the month-to-month improvement was encouraging, but cautioned that tonnage is unlikely to surge anytime soon.
Bah.. he's just a h8ter, green shoots man !
HH - I would have to guess that the collector's items would outstrip straight bullion prices, at least as long as there are collectors.
sorry had to clock out to find the story....
here it is:
no additional value is placed on the numenistic relative to the blanks going through the dye...
I had to check the content for ignores...just try-jung to get the juice.....
luv the juice....34 ignores three
Ae! vellin dannar lais na-húl,
ínath arnediad sui revail gelaidh!
trans:
"Man, I was tame compared to what they do now."
Could have sworn I saw General Sherman in the Bretton Woods, but it may have been a ghost...
"I would have to guess that the collector's items would outstrip straight bullion prices"
of course, it would be near-impossible otherwise (though a really beat-to-hell krug might test that theory).
i'm just curious as to what the actual history is of the % premium for a given series. st.g's from the teens and twenties @ ms-62 through 64 are probably the only ones with a liquid enough market to give an answer to that one. i'd guess that this 'collectible premium' generally ebbs and flows with strong asset inflationary waves (2002-2006, 1968-1979, etc)
Samdog, the shortages created an instararity.
The one ounce proof is running $2500 in original box.
That is double what it cost.
The only disappointing thing is the number of fakes already floating out there.
Get a portable scale before you keep buying morgans.
But all coins are heading into chinese fake devaluation.
Just makes PCGS, NGC, and ANACs richer.
I have coins for trade, and coins for keeping.
Those are for keeping.
I consider them my retirement fund.
Someday this war's gonna end...
Someday this war's gonna end...
@hollywoodhack,
There are rumors that pre-1933 gold is "safer" from confiscation since it is considered a collectors item. However, I don't believe confiscation is real threat any more, the gold market is too small. The higher premiums usually benefit the dealers so I stick with bullion, but maybe pre-1933 has performed better over time. I don't know.
BankFailure...
you write: luv the juice....34 ignores three
...
what does that mean?
i'm just curious as to what the actual history is of the % premium for a given series.
duke, I track the ignores over threads and different logins..
Its like balancing over two platforms...
the carney man....thats the 34th comment on three holllwood hacks comments....yeah hollywood, I not only ignore you but I read your posts....
"I doubt even serious dealers gather that kind of info, and if they did, it's proprietary. "
well, i'm sure many collectors have a good anecdotal sense, and a few dealers who have been around since the last gold bull definitely have some charts hidden away - but you're right, dealers aren't too anxious to give up all of their info.
"yeah hollywood, I not only ignore you but I read your posts.... "
well, i'm a little like harvey dent on the whole boomer thing... sorry 'bout that
RFIPO
is my
Registered For Ignore Purposes Only....
No, but if you find the Elvis to English dictionary it is the same thing.
Didn't Tolkein write one of those?
The clue to the translation mystery is contained somewhere in the following icons:
there's no end to it today...PIGGED!!!
HollywoodHack (homepage, profile) wrote on Fri, 6/26/2009 - 9:18 pm replyIgnore user"I prefer to own vintage US coins"
sam, what is the current market like for 1900-1930 st gauden's in terms of the 'collector' premium? any thoughts on how this compares to the past few years?
Hollywood Hack --
I collect as a hobby, not an investment.
Historically, coin collecting has not been great investment vehicle--unless you happen to run across one of those really rare pieces. You can pick up an avg St Gaudens for about $150 over $/troy oz Au, if you're lucky.
Personal satisfaction--priceless.
Citizen Allen,
What do you mean by "allow the account to run off at its current payment"?
What is this?
Why is it Best?
Thanks
Comrade Alexei- I fully agree with your astute analysis.
Gah, coins are a nice hobby that can survive this disaster.
I don't have good feeling about what is coming up after this period of stability.
This is about to take a large turn for the worse.
The only good thing is that we will see some cheaper oil prices- the market is about to apply a brutal lesson in economics.
I will have to be getting some liquidation of some of the scrap gold crap I have on hand while it is still high.
I think when we crash again gold and silver take a quick wall street style bath, with actual metal shortages continuing.
Someday this war's gonna end...
Why is this the best strategy??
Thanks
What I mean is to cap the available credit to the current balance and keep the 2% minimum payment with no new charges allowed- or even to keep the 2% payment and freeze it at that level- in which case my account would have run off in 5 years as opposed to two years.
Someday this war's gonna end...
I see you mean Best strategy for Chase.
Because it recovers the funds on a known basis without creating a needless payment shock to the borrower.
Payment shocks are bad- the typical consumer budgets on the monthly payment, not the total amount owed.
Someday this war's gonna end...
Best for the consumer too- they would have a much better chance with no payment shock.
Remember, pushing folks into default is a very bad business tactic.
The Congresscritters are next on the bashing Chase bandwagon.
Someday this war's gonna end...