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 Replies: 338 / Views: 21,548 |
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Pillar of the Community
United States
1590 Posts |
Just remember that no matter how low it goes a LOT of dealers will not want to sell at a huge loss. They will eventually, if the prices stay low, or go even lower, but not at first.
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New Member
United States
45 Posts |
NWTM has a $1.50 Premium per ounce. You have to be willing to wait 8 weeks or so for delivery
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Pillar of the Community
United States
5850 Posts |
Man, it looks like gold dipped all the way down to $1549 in the wee hours of the morning before bouncing back up to it's current $1616. I wish I had been awake...
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Rest in Peace
United States
9104 Posts |
When prices drop, you want to buy from brokers, not dealers.
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Pillar of the Community
United States
2168 Posts |
Maybe but the dealer I visit was selling Eagles at 3 over spot saturday and had them. No shipping any quantity, no wire etc and in hand check with local and see first is my thought. Plus not as easily noticed no delivery person involved either
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Pillar of the Community
United States
3294 Posts |
I grabbed a roll of 90% dimes Saturday (44 merc, 5 barber and a seated) at 22.65x. My paycheck cant get here soon enough. I want some mo.
Edited by nod2003
09/26/2011 10:06 am
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Pillar of the Community
United States
2424 Posts |
nice nod..
my dealer was still charging 26.5x face! I think they really were hurting after this dip...im gonna have to ask CCF members for a deal now
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Pillar of the Community
United States
5850 Posts |
All right, so maybe I won't be buying any more gold coins today after all. When gold was down to $1850 yesterday, I bought one AU $20 St. Gaudens Gold Double Eagle for about $150 per ounce above spot. Now that gold has gone down further, the price of these coins has actually gone up a bit and are now selling at around $200 per ounce over spot.
I guess the law of supply and demand has nothing to do with gold value...
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Pillar of the Community
United States
3670 Posts |
"I guess the law of supply and demand has nothing to do with gold value..." I have always said what people are buying in masses on ebay and the high prices they are doing at, tells the true value of an item, be it gold, silver, or anything.... I had 9 loose Mcfarlane goaltender figurines, as I was a house league ice hockey goalie for 17 years, until recently retiring for good and selling all my gear. Anyhow, the figures were loose, and only worth 5 maybe 10 bucks each, so I put them in a lot for 50 start bid, buy it now 75.... Well a guy from Michigan took interest and a fellow from Russia, and that was all it took, as the item went beyond the buy it now at 75 dollars, and I ended it for selling it for over 80 bucks. Both party's sent emails complaining that they should have each just used the buy it now option before it disappeared, and I think a wise man said some where along the way, "IF YOU SNOOZE, YOU LOSE." My point, is all it takes is two interested people in one item, and they will determine its true value to each of them, and no man made number can change that fact IMO.... |
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Valued Member
United States
302 Posts |
The true value of anything is only what a willing seller is willing to accept and what a willing buyer is willing to pay.
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Pillar of the Community
United States
2168 Posts |
Yes and ebay is just the place for great exposure. Now Rogers is saying maybe correction prices for a few weeks or months on gold anyway. But still buy on dips (but who knows what a dip is these past few days!). |
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Pillar of the Community
United States
1590 Posts |
Those of us that sell on ebay know that the prices of PM's always go down a LOT slower than they go up. If I bought an ASE at $20 and the spot price shoots up to $30, you can bet your net worth that I will sell at $30 RIGHT NOW. On the other hand if it goes down to $10, you can also bet I am not going to be offering that ASE on the market. The supply in that case actually shrinks a bit causing prices to stabilize at a price above spot in the short term. Now since many of these corrections are short term, most of us just hold our inventories till the prices come back to the point where we can make a profit; or at least lose less money. If the prices remain low for an extended period of time and we are not selling, then guess what? We have no, or little income. At that point it becomes an issue of income generation rather than profit. And at that point the prices start to come down. So today, do I hope to sell ONE ASE at $35 or do I sell 100 ASE's at $30 to gain liquidity? If I don't need the money I hold my prices firm. If I do need the money, I sell at a loss. It is that simple. Well, that and fear. Fear drives the market up and it drives it down. I think if I were still in College you could do a Masters Thesis on "The fear based economy of the early 21st Century; with particular emphasis on the factors of Fear in the Commodities Markets". Hmmmmm |
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Valued Member
United States
467 Posts |
Bought Friday and Monday. 21.75 x face for 90% today, Spot plus 2 for a 10oz Bache bar. Premiums friday for 999 were 1 over for this bar. Dealer is running low on stock right now.
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Rest in Peace
United States
9104 Posts |
Quote:
I guess the law of supply and demand has nothing to do with gold value... Prolly not, but it obviously has a lot to do with the price! |
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Valued Member
United States
302 Posts |
 The laws of supply and demand are immutable and the PRICE reflects these laws. |
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Replies: 338 / Views: 21,548 |
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Posted 09/26/2011 03:27 am
