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 Replies: 74 / Views: 7,438 |
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Pillar of the Community
United States
3670 Posts |
Buyers out there always in big numbers....
I offer worldwide shipping and perhaps this is foolish as often international shipping can be a real pain and costly and a major gamble, depending on what carrier you use. For example I actually ship USPS (because of best rates by far) but through UPS brown store lol. Sometimes you can skip USPS all together if brown has a rate that is not far from what USPS would charge. Even so, UPS brown sends pickup email alerts and MOST IMPOTANTLY delivery email confirmations which is most key if one was dealing with a crook who claimed item DID not arrive when in fact it did....
Anyhow I got this guy in Holland that loves American pour bars as he has bid on 2k worth of items I have up. He will pay a bit more of a premium as there not easy to come by over there and I offer real fair flat rate shipping charge of 30 flat and most will not ship over there. Talk to him many times and did bus with before so not as big a gamble as many would think. So I provide a service there many will not which is can be edge but again river boat gamble as one lost high end item on scam via shipping wrong carrier and service could sink many, esp me lol....
I buy from Japan and China often on die-cast robots for 60 to 75 for example and sell over here for 100 or more. Like Costanza I am an importer and exporter of many things, latex etc., lol....
Anyhow back to main point more sellers then buyers. I promise you this I have been trying to get back to 100 oz. but cant keep stock long enough to eclipse that number. I was at 120 oz., back down to 40, back up to 85, back down to 35, lol....
Now if I priced INSANE like many of these tools listing silver 10 oz. bars from some nobody long forgotten refinery for 6 and 7 hundred bucks I would never move any silver either. But I price it just high enough of profit take that it still sells and have taken 10 buck lose here or there or broke even to get funds to move on something else I feel I can even do better on....
Edited by Silverhawk74
12/30/2012 1:09 pm
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Pillar of the Community
 United States
919 Posts |
I guess my initial point was looking at amount of people that buy and hold vs sellers. I didn't consider guys that day trade silver bars to be buyers. To me they are sellers. I'm not saying it is wrong to buy and sell daily I was just wondering if others saw less of the long term holders in silver buying. From what I have read so far I would say yes there are less guys in buying.
Silverhawk the fact that you don't hold silver long makes you a seller in my eyes. Not a bad thing but you must feel the higher prices are a thing of the past or you would hold it for future gains. People in other countries have always held PM's as part of their investments. Only in America is a person considered a "Bug" if they hold silver and gold.
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Bedrock of the Community
United States
36878 Posts |
It all boils down to the economy and the fact that things are getting worse. Even on-line coin sales is way down. Mostly bargain hunters out there.
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Pillar of the Community
United States
1200 Posts |
@tpg22--- I think you've isolated out the third estate in the world of PM buying and selling here -- the buyansellers. They move into and out of PM pieces
the way a PM spot zigs and zags up and down on a hyperactive day. They aren't solid "buyers" (who are just building up hoards) or "sellers" (who are just
offloading to either downsize or dump a hoard, toss some unwanted sterling, etc). They straddle the buyer/seller fence and constantly hop from one side of
it to the other, much like alternating current electricity.
I'd guess the buyansellers don't often sell to the LCS because the margins the LCS buys at would cut too far into their hoped-for profit margin.
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Pillar of the Community
United States
3670 Posts |
If I was more financially secure I would buy only to STACK/hoard like many of the wise here perhaps a bit older or more established, but I need to continue to buy or sell to keep funds fluctuating for now....
Certainly not getting rich but being able to pull money out of bus for daily expenses can be nice, but you just gotta find a way to put something back in the bus (keeping same amount of stock not easy, 12 to 24 items at a time works for me) via outside source be it a part time job or tax returns coming up for example....
Edited by Silverhawk74
12/30/2012 3:11 pm
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Pillar of the Community
United States
1200 Posts |
@silverhawk---I salute the energy you put into the process. If I tried to do that I'd get all bent out of shape my profit/loss picture, my BP would spike,
I'd probably have a fatal stroke and then my kids would be selling my stash years earlier than I want them to. That's why I keep it simple, occasionally
buy a few pieces, stash them in the magic box and leave them there.
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Valued Member
Canada
78 Posts |
Fat Freddy you made a good point in this, "I'd guess the buyansellers don't often sell to the LCS because the margins the LCS buys at would cut too far into their hoped-for profit margin."
I just got back from a deal to buy silver from a guy selling online. Paid 31.50 a piece for 5 American Eagles and 5 Canadian Maples. Also a Engelhard cast 10 ouncer for 340. What I paid was more then LCS could pay due to their profit spread so the seller was happy and I was happy. Guy said he needed money for bills.
As eagles as hard to buy at that price in Canada, I should have bought 10 more that he was selling but I want to keep cash loose.
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Pillar of the Community
United States
3670 Posts |
Lol good stuff FF I feel ya on all points.... And great point about looking at the profit charts and margins.... If you tried to chart that and do what I do you would indeed give yourself a heart attack. Too much of my moves are fly by the seat of my pants as I don't even know what I will do from one day to the next lol. Next week I might be buying train sets, the next die-cast robots. But I always mix in pmz into my stock. Always for the liquidity of it. And after you know what people like and what HOLDS its value in the down times, you really only got one direction to go and that is up..... If you can do what I do and find a way to clear atleast 30% (13% for ebay and paypal while the other 17% is your take) and make 7 or 8 right moves out of 10, you have a decent chance to stay afloat. Even though the numbers are always working against you in the long run. Always more goin out then coming in, and it spends way faster then the long amount of time and effort it can take to accumualte net worth, money, whatever.... |
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Pillar of the Community
United States
919 Posts |
Happy New Year everybody. Thank you for taking the time to comment. Your comments on this thread as well as all of your other posts have helped me a lot. I look forward to finding some of the deals that others are finding.
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Valued Member
United States
161 Posts |
I've only ever seen one other person in my LCS in all the times I was there. It is somewhat eerie. I often wonder how he stays afloat. He does have a lot of Gold and Silver so I assume he is putting items on ebay. |
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Pillar of the Community
United States
4008 Posts |
Quote:
The opposite is happening here. You almost can't find any physical silver around here. I agree and am having the very same experience here... virtually no silver at all for sale at local pawn or coin shops. Heck, when a Morgan or a Peace dollar shows up, the shops are asking almost as much for them as for ASEs and Maples that have 22% more silver in them. The nice dollar coins are going for $45-50 each, IF you can find one. |
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Pillar of the Community
United States
919 Posts |
Ed I'm finding the same thing. Two weeks ago silver was at $33.50 and I paid $37 for BU Peace dollars. Today it hit $29.50 and BU Peace dollars were still $37. Supplies are short and prices stay up. |
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Pillar of the Community
United States
1590 Posts |
I think that goes to show the regional markets.
As a dealer I haven't sold any gold for almost 6 months; other than a couple of tenth ounces. In fact I put my gold in the safe and off the market. Silver still sells but in dribs and drabs. More people are indeed selling; or are offering to sell than buy. I get maybe 4 buyers a week, and 20 to 30 sellers. However; I'm not really buying anymore because the sellers around where I live want spot....and not a penny less.
I am in the SF bay Area right now; finishing the holidays. I had traveled from Ohio to Tacoma Washington. And from Tacoma to Napa CA.I stopped at dozens of Coin shops.
They ALL say the same thing. NO market for Gold. Very few buyers and most sellers want top dollar. They also relay that there is a limited silver market.
My buyers all say the same thing. They have seen the hype and the tops...and the crashes tooooooo many times. They also have forgone the "buy the dip" mentality" as it only works for ETF's.
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Pillar of the Community
United States
1195 Posts |
While I was at my LCS making my last buy (a drib of $4.50 face), someone sold nearly $300 face of dimes, left, and brought in a big bag of quarters just as I was leaving.
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Pillar of the Community
United States
1590 Posts |
I have see bullion Peace and Morgans selling for as little as 26 and as much as 35. There is a guy the Bay Area that has all you want for $29. And alot of them are pretty decent.
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Replies: 74 / Views: 7,438 |
First Page
Posted 12/30/2012 2:02 pm
