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 Replies: 82 / Views: 7,898 |
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Bedrock of the Community
 13014 Posts |
Quote:
You would see the market dry up, which in turn would drive prices back up. For a short time maybe, but people wouldnt wait forever for the price to recover. Once it was apparent that it wasnt just a dip it would normalize. Quote:
Gainesville Coins now has Silver Maples delayed for shipping until 4/30/13. I cannot stress this enough, do NOT ever order from Gainsville. I would rather get a pitch fork and go look for silver in a mine myself then see a dime of money go to them. Aside from the fact that their last coin company went bankrupt sticking it to a lot of people for millions of dollars, Gainsville has the WORST customer service you will find anywhere. They just send you whatever they feel like sending you and if you arent happy or its fake tell you its your problem not theirs. |
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Pillar of the Community
United States
3789 Posts |
Hey baseball what happened with your purchase from Gainsville, I gather they screwed with your order?
I ordered only one thing from them last year, the 2012 proof Britannia. Was that coin company that went BK, was that the one that was up in Canada?
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Pillar of the Community
United States
3789 Posts |
... I see no short squeeze whatsoever.
I wouldn't be surprised to see more dealers close down with the continued slide in silver and gold as time goes on.... perhaps dealers are having a hardddddddd time with their lines of credit behind the scene as buyers dry up and that's the delay in inventory happening.
In anycase, don't count on a rebound in gold and silver prices. The downtrend first must be resolved and that's going to take time. Then once the downtrend stops, a period of time should occur where the price decides where it come to.
Remember, this slide down, theres going to be a lot of points where other sellers that might still be holding will look to unload should the price rise and this will keep PM prices down.
Nothing, however, is going to change until there is massive institutional fund buying. Without them, the markets wont go anywhere, no where fast.
I think if you are buying around these prices, you are looking at lower prices from where you buy and then the unknown,, what happens to the PMs after the slide. A decade of chop and nothing? A couple years? Who knows and that's something where I certainly wouldn't want to be buying physical silver and gold and telling myself "oh it will come back".
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Bedrock of the Community
13014 Posts |
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Hey baseball what happened with your purchase from Gainsville, I gather they screwed with your order? They sent me a commemorative coin that was covered in gunk and refused to even swap it for a new one. It was disgusting and I dont even know what it was, I didnt want to touch it to be honest. First coin I've ever actually cleaned. They said it was only bullion so I asked if they would be refunding premium they charged for it and they said no that it had numismatic value. It was like dealing with a child they just said the exact opposite of what you said going back and forth. If you google there reviews no matter what site you look at there are negative reviews all over the place about them sending fake stuff, the wrong stuff ect and not caring. I honestly cant recall a company that consistently got such poor reviews all over the place. Quote:
I ordered only one thing from them last year, the 2012 proof Britannia. Was that coin company that went BK, was that the one that was up in Canada? I had actually ordered from them once before and got lucky but knowing what I know now I wont be doing it again. There are far too many better places to spend your money. I think the other company was in Tampa or something but I'm not sure where it was but it was called National Gold Exchange. http://www.tampabay.com/news/busine...ptcy/1022261Thats one of the more favorable articles about the guys who now run Gainsville. Long history of unpaid debts yet somehow they built themselves a 25 million dollar manison.... |
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Pillar of the Community
United States
3789 Posts |
WOW... thanks for the heads up on that.... for sure I will never order from them again. That was my first and last purchase.
I been thinking about doing a thread about buying or how I go about buying the coins I like to collect and deciding what dealer it will be.. seeing that I got back into the hobby after being out.
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Bedrock of the Community
United States
36415 Posts |
I have ordered from Gainesville many times with no problems.
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Bedrock of the Community
13014 Posts |
Theres far worse stories about both their current and former company out there that I didnt link. At the very least I would strongly urge someone to do a google search of them and their reviews before considering it. After reading it it all I dont know why anyone would pick them when theirs the providents, apmexs, silvertownes ect of the world out there who actually do stand by what they sell. Quote:
I have ordered from Gainesville many times with no problems. So have others, and theres a large percentage of people that have ordered once or several times and encountered real bad problems with them. A quick google search tells you all you need to know about them |
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Valued Member
United States
90 Posts |
is everyone loading up now that they got there price crash?
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Pillar of the Community
United States
561 Posts |
I placed an order to pickup a few things I had on the "wish list" that were a bit cheaper thanks to the recent drop but nothing too crazy. If it should drop to $20 it might be a different story though. LOL
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Pillar of the Community
United States
3670 Posts |
I am not complaining short of buying 69 oz. after setting idle for months 2 days before the biggest drop in three years lol....
Anybody in next few weeks wants out of their silver or gold, PM me and I will see at that time if I can scrape enough together to make you a serious offer....
Edited by Silverhawk74
04/15/2013 2:34 pm
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Pillar of the Community
United States
2120 Posts |
^^ True that.
Regardless of happened the last few days,
It would be as you pointed out, bitter sweet.
On hand I would be sad to see my "lost" investment. (Im a long hold, so I'm not worried)
On the other, I would see it a huge opportunity to just build and build and average out my "losses".
I would love buying 90% at those levels. :)
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Bedrock of the Community
13014 Posts |
Quote:
On hand I would be sad to see my "lost" investment. (Im a long hold, so I'm not worried)
On the other, I would see it a huge opportunity to just build and build and average out my "losses".
I would love buying 90% at those levels. :) Exactly no one should be buying with money they need so right now we should want it to go down to make buying cheaper. Only when its time to sell do you want to see the rise. Even though I dont believe in silver as an investment at these prices it is a lot like a stock. You dont want to buy the stock at an all time high, you want to get in as low as possible if its a good company that will pull through |
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Pillar of the Community
United States
3670 Posts |
If you spent too much in mid 30z-look at it like this you too far in now to turn back....
Better to cost average....
If I buy 120 cars at 600 that's about 6 per car....
Then if I find a similar lot of 120 at 10 per car-if I buy both lots now my cost per car is 8 each. Cost averaging ain't rocket science....
I would rather have 240 cars at 8 each verses just 120 at 6 each as I can always make money at 8 each....
Point is buy as much silver you can at the bottom where ever that is even if its just generics-and you can cost average those bad buys in mid 30s back down to a better figure....
Edited by Silverhawk74
04/15/2013 5:58 pm
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New Member
United States
10 Posts |
Well, I bought 10 Freedom Girl rounds 3/19. Bought a 10 oz Koala on 4/6. Then my mom saw my Koala and wanted one even though I tried to kind of talk her out of it, so, she had me order one for her and my sister. Along with that order I bought a 10 oz Kookaburra. That was yesterday, 4/14. So, today I bought five 1 oz Kooks and five 1 oz Koalas so I could at least say I got in on the biggest dip in years. I'm in for the long haul, so, I guess it doesn't really matter (except for the fact I would have had a few more oz for the same money if I would have waited until today.) |
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Pillar of the Community
United States
3670 Posts |
And you cant beat yourself up about 3 oz. as none of us can predict the future and this is the nature of the beast, esp in bear form....
I bought 2 kilo bars J&M old pours rare at 1100 each a few days back or 34 an change per oz....
How much more silver could have I gotten if I had a crystal ball and waited?
But you know what the owner of the kilo bars (a good friend of mine none the less) was not gonna take a huge loss so it would not even be for sale now anyway at what many would hope to be around 30 per oz. maybe on such a high end premium item and I certainly personally would never expect anyone to sell and take a loss as it is their and all our rights to sell when we want when it suits us, hence the freedom of USA....
Glad to have them they are rare and are not growing on trees for sure.....
Edited by Silverhawk74
04/15/2013 6:04 pm
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Replies: 82 / Views: 7,898 |
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Posted 04/09/2013 6:36 pm
