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 Replies: 48 / Views: 4,078 |
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Pillar of the Community
United States
1267 Posts |
Looks like the prices of NCLT (ASEs, Pandas, Maple Leafs, etc.) are going to drop. Silver is down to $11.15 and gold is down big as well. http://www.kitco.com/market/Ben |
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Valued Member
United States
287 Posts |
No offense anyone but.... WOOOT! Maybe coin prices for commons will be more affordable for someone like myself.
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Pillar of the Community
United States
1173 Posts |
One would normally expect precious metals to be up when the market is so volatile and trending heavily downward.  To have gold and the world markets both down big seems to indicated we are in a deflationary period as opposed to an inflationary period. If you have cash sitting around that you won't need for the next 3 months to 2 years, it might be a good time to buy bullion...or stocks in good companies.  I'll ask: if my "deflationary" assumption is true, might we also see a pull back in coin prices...at least in areas where prices may have really gotten ahead of themselves? Edited by hunter20ga
08/16/2007 12:50 pm
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Valued Member
United States
287 Posts |
I hope so. I hate spending double for common stuff.
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Valued Member
United States
287 Posts |
Holy cow the market is making a lot of people poor as well.
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Forum Dad
 United States
24150 Posts |
All metals are tanking. By the way we have it all on one page here. US Spot Prices |
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Valued Member
United States
367 Posts |
anyone have any free silver? hehe hopefully silver will go down more!!
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Pillar Of The Community
3147 Posts |
I wouldn't hold my breath waiting for precious metals to tank. What do you think the folks who are selling off their stocks will turn to if there is not a sharp upswing soon. If anything NOW is the time to buy that silver as that is what everyone has been waiting for isn't it? A downturn?
Don't expect to see immediate changes in the price of coins either as coins bought by dealers while we are in this high cycle will not change in the near future. Dealers have to survive so taking losses on inventory would not be in their best interest. It will takes months for the cycle to change.
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Valued Member
United States
246 Posts |
so the big question is, will the price of the first spouse coins go down a little?
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Pillar of the Community
United States
1984 Posts |
I agree that this represents a good buying opportunity in bullion and quality PM stocks. I'm not sure you'll see coins come down too much, as there will still be some money chasing collectibles, and dealers are loath to lower prices quickly when they've been having such a good run. You would think that in this stock market environment money would look to a safe haven but there is a lot of funky stuff going on in the markets right now.
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Pillar of the Community
 United States
5953 Posts |
I am expecting Silver to be back up to the $12.75ish mark within a few days.
With the sub prime mortgage fiasco and the fed injection cash into the market to cover stock sell off its not going to be very long before investors start looking a precious metals again.
Those of you lucky enough to buy at the $11.20 mark today :-) as I did have already turned a profit as its back up around $11.70 wish me luck in my quest to make $1,000 profit in five days on my 1,000 oz just purchased today.
Will be back here to brag later I hope.
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Bedrock of the Community
United States
19935 Posts |
I'm surprized too, I saw all the spot prices were down today....along with the stock market. You'd think metals would go up with stock going down. If any of you are into trading, here's my favorite stock forum: http://www.stockmarketcats.com |
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Pillar of the Community
United States
1984 Posts |
If I weren't already "all in" in Ag and Au I would have joined in the buying today. In the low $11/oz. range the downside risk is quite small. Looking forward to some gloating!
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Pillar of the Community
United States
5953 Posts |
Yeah just passed the $11.73 mark half way there another five cents and 25% of my holding will be liquidated.
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Valued Member
United States
64 Posts |
Thank you very much for the info! I was busy today, and didn't realize before reading this discussion that silver was down quite a bit today. I was due to re-order a bunch of silver koalas, so I just did, and at a good price. Is it going to go lower or is it going to readjust itself soon? I guess we'll see in the next weeks.
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Valued Member
United States
259 Posts |
With the Dow down over 10% in last couple weeks, many folks probably feel less well off. But I don't get the sense this affects coin buying very much. Would like to do a poll: Do you spend less on coins when the stock market is down? Any dealers out there would have a better sense of the coin market lately because they can see day-in and day-out what people are buying and offering to sell.
As far as bullion, esp. silver, it is just so impractical to hold in any quantity. I have been in both base and precious metals mining stocks - which are getting clobbered. I think that is because gold and silver is an asset class which seems to get sold off with everything else when the big hedge funds have to meet margin calls.
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Replies: 48 / Views: 4,078 |
Posted 08/16/2007 12:48 pm
