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 Replies: 74 / Views: 7,413 |
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Pillar of the Community
United States
919 Posts |
I have noticed over the past two months that there are less buyers and a lot of sellers. During Sept and Oct I often saw several buyers while visiting my LCS. In Nov and Dec I have only seen sellers. I often spend 1-2 hours at a store picking out MS Peace dollars or EF Walking Liberty's. Not the cheapest way to buy 90% but fun. Over the last two months I have yet to see another buyer in the store with me but often 4-5 sellers come in. This week while I was in one store 8 people came in to sell. Is this happening everywhere? I have even commented to the dealers "Am I buying at the wrong time? Everyone else is selling". Just interested to see if this is going on in other parts. I'm not trying to start a thread on where silver is headed. |
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Valued Member
Canada
78 Posts |
I have noticed the same thing. Was at my lcs for 30 mins and saw 3 sellers. But the sellers, want such high prices that I am not overly concerned.
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Bedrock of the Community
13014 Posts |
I think theres probably a lot more people selling than buying now. Some people were buying for 2012 didnt happen, others may have more faith in the economy now or just need the money for bills ect. Plus silvers in that no mans land. Its down some and people probably want to see if it goes lower before buying, while people that bought high may be scared and trying to recover as much of their money as possible before it possibly goes lower.
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Valued Member
United States
272 Posts |
I don't have a LCS so I can't speak from first hand experience, but there is a good chance the sellers were people looking for Christmas money.
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Pillar of the Community
United States
1211 Posts |
Historically, "the holidays" is a bad time to sell (non retail, 2nd-hand market goods). I am a buyer this time of year and I did most of my selling early December on ebay. |
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Pillar of the Community
1283 Posts |
The opposite is happening here. You almost can't find any physical silver around here. Probably what you are seeing is a coincidence that the people are selling most probably because they need money for the holidays. This time of year is always a good buying time for me as many of my friends need to sell a bit of stock for various reasons and I am always buying.
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Pillar of the Community
United States
1391 Posts |
Similar thing has been happening to me. I noticed it several months ago. I recently asked about it because it became more pronounced. The guy at the coin shop said that he thinks peoples are just out of money and they don't have the ability to buy any more.
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Pillar of the Community
United States
3789 Posts |
I would say in my travels over the past couple of months on various discussion boards and forums, I have see alot of folks worried that they bought coins earlier this year and now they are down 3-5 dollars or MORE on silver and even more on gold. Plus, again, as I have stated in an another thread, I really think that ebay picking APMEX to work with in PMs signals a change in trend in metals. So perhaps folks who bought at the tail end are starting to sell. OR,, maybe folks are cashing in because they need the money... yet the other day, I learned of a client that wants to stick most of their net worth in silver (yikes!) and canadian dollars. so who knows... should be interesting as time goes on! I have no problem in picking up folks discounted PMs lol |
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Pillar of the Community
Canada
1528 Posts |
I don't know. I seems to see more buyers than sellers for bullion products. Especially with the current PM's price. I myself buy bullion and sell mostly numis stuff this months. As someone pointed out, it's Christmas season so people usually buy numis coins for their coins collector friends because it looks nice and they have no clue who much silver/gold contents in the coins. I sold 5 1/25th gold farewell to the penny coins to people that purchased as gift for someone they know that is a collector. They had no idea how small 1/25 coin is until they saw it in person.
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Valued Member
United States
419 Posts |
I have noticed this too... perhaps folks just need holiday cash?
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Pillar of the Community
United States
1200 Posts |
One LCS I visit always has almost entirely sellers, which include local jewelers, other (smaller) LCS operators, some of those "We Buy Gold" guys, etc. The situation is
usually just like you described---seller after seller and I'm the only buyer. The prices I'm paying are OK, but it makes me wonder if I'm the only person around who has $ to
spend. This guy buys so much sterling that sometimes he just throws it into a 5gal plastic pail on the floor behind the counter. It's like this year-round and it makes me feel
like the only salmon who's swimming downstream. Another LCS that I also visit has more sellers than buyers, but the ratio isn't as high (plus I know he sometimes runs out
of ASEs, so he must have a solid buyer clientele).
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Pillar of the Community
 United States
919 Posts |
The three stores I go to are in 3 different cities. I find it interesting that many of you are seeing the same thing. It will be fun to watch over the next month or two.
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Pillar of the Community
Canada
1411 Posts |
I have seen many, many more buyers than sellers here...
In one shop, six buyers and no sellers in 1.5 hours... And that's a slow day!
In the other, it is the opposite... Many sellers, few buyers... But most buyers must buy alot... As he rarely has A large inventory.
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Valued Member
United States
386 Posts |
There's plenty of sellers and plenty of buyers in my LCS. I'm not seeing an abundance of coins or bullion there. It's pretty balanced from what I see.
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Valued Member
United States
344 Posts |
The owner of the LCS here told me he has seen more sellers in the last couple of weeks. He attributed it to property taxes being due and the holidays.
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Pillar of the Community
United States
4333 Posts |
it's the same reason roll hunters find more silver this time of year. People cashing in for the holidays.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Replies: 74 / Views: 7,413 |
Posted 12/29/2012 8:18 pm
