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 Replies: 13 / Views: 3,369 |
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Pillar of the Community
United States
2637 Posts |
Brisk sales not only on silver coins (subject to differential taxation in Germany), but increased demand also for higher taxed silver bullion. Precious metal dealers in Germany have literally been run down after the latest slump in gold and silver. Wholesalers already expect deferred deliveries. The latest plunge in gold and silver late last week has led to a sharp increase in demand by German precious metals investors, which also continued on Saturday. There was a particularly strong demand for silver coins. "On Thursday and Friday people had to draw numbers in order for us to control the run", reports Andreas Heubach, CEO of Heubach Edelmetalle in Nuremberg. "On both days we sold each around 40,000 silver ounces â€" incredible", he said. "Demand is back â€" and hysteria as well", he evaluated. Tremendous Run"The run is tremendous, even today on a Saturday", Christian Brenner, CEO of Philoro Edelmetalle GmbH in Leipzig and Berlin reports. Despite the high counter trade level in September, demand has increased by 100 percent, online-trade even soared by 300 percent. "Run is not the right expression", says René Lehmann of Münzland in Dresden. "We've seen up to 80 percent of our regular customers taking advantage of the slide to build up more positions. On those two days, on Thursday and Friday, we made approximately 50 percent of our monthly revenue", he reports to Goldreporter. Maple Leaf (1 oz.), 1 kg Lunar and ½ oz. Great White Shark were particularly in demand, since Münzland had a special offer on them. In gold especially 1 oz. Maple Leaf and 1 oz. bars have been purchased. The ratio of buyers to sellers has generally been at 50 to 1. Dominik Lochmann, CEO of ESG Edelmetall Service GmbH & Co. KG, confirms the surge in silver coins that are subject to differential taxation. Even higher taxed 1 kg silver bullion did very well. Increased demand also for goldThe big German precious metal dealers also confirm the strong growth in turnover. Oliver Heuschuch, head of precious metal trades at Degussa Goldhandel GmbH, didn't report to Goldreporter that there is a particular increase of demand for silver, but sales in general have "greatly improved". Robert Hartmann, CEO of Pro Aurum, was more specific: "On Thursday demand had improved considerably. On Friday we had 250 percent more business (tickets) than on average in the weeks before. But it were rather gold bullion and coins that people focused on. Silver demand rose about 1.5 times." http://www.goldreporter.de/german-p.../gold/46086/So, is there any increased demand for Imperial German silver marks?
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Pillar of the Community
Canada
2019 Posts |
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"Demand is back -- and hysteria as well" Ya well if the price keeps dropping and stays low for a long time those buyers wont be happy campers, I don't think were near the bottom yet, going to hold off buying much at this point. |
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Pillar of the Community
United States
2661 Posts |
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I don't think were near the bottom yet, going to hold off buying much at this point. Three words....................... Dollar Cost Averaging. Just buy a few ounces on each price drop. I am a buyer no matter which way it moves. But then again, I just love silver. |
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Pillar of the Community
Canada
2019 Posts |
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Three words.......................Dollar Cost Averaging. Ummmm ok well if the price drops and and keeps dropping and your buying at each drop just how does dollar cost averaging work? I mean a loss is a loss right? I don't see an upside to losing, but some things elude me at times and there are still many wonders of the universe that have yet to be discovered . |
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Pillar of the Community
United Kingdom
837 Posts |
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I mean a loss is a loss right? I don't see an upside to losing, but some things elude me at times and there are still many wonders of the universe that have yet to be discovered .   Quote:
Ya well if the price keeps dropping and stays low for a long time those buyers wont be happy campers Precisely ! I think a bit of caution should be exercised by potential buyers, as much as the new low prices make a very tempting entry point we are at a precarious situation with gold and silver , some of those people who think this is get rich quick avenue might get burned |
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Pillar of the Community
United States
2661 Posts |
Well, I am a buyer no matter which way the prices are moving. But, that is just how I roll.
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Pillar of the Community
Canada
3692 Posts |
Falling prices are a gift if you're looking for something specific. If you're trying to convert dollars into more dollars, yeah, you're losing dollars, not metal. The loose old "saying" is still true, that if the price falls one dollar, for example, you still have an ounce in your hand. Metal is metal, not a dollar vehicle. So people in the market for silver coins are getting coins in their hands, not exactly silver itself for the purpose of making dollars for doing zero work.
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Pillar of the Community
United States
4333 Posts |
Same here. I really don't intend to profit from my PM buys, as that's not why I'm stacking (oh-that word!), although, to profit wouldn't be a bad thing.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United Kingdom
616 Posts |
I collect certain series and the price falling has made that easier. It is nice silver has value and I could always sell my collection but I would hope to never be in a situation where I felt I needed to.
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Valued Member
75 Posts |
And yet the media at large continues to claim that demand for gold and silver has fallen.
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Pillar of the Community
 United States
2637 Posts |
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And yet the media at large continues to claim that demand for gold and silver has fallen. But why would they do that? Cui bono? |
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Valued Member
Australia
491 Posts |
People in any industry talk up their produces when the bottom end of their market has totally collapsed and is likely to collapse a whole lot more before any up trend takes hold again.
Do you really listen to bias looser's salesperson's rubbish?
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Pillar of the Community
United States
4691 Posts |
I always have a point where I will sell even at a loss. Last year I was a buyer of silver in the $21.xx area. I dumped it earlier this year when it dipped to $19.xx That's discipline. Bought back in last week at in just over $16 per oz. DCA would have created a larger loss than having a value set to sell (both above and below acquisition price).
In my opinion DCA is for unsophisticated investors, yet simplistic. One needs to have both an entry and exit price.
Edited by jimbucks
11/22/2014 2:24 pm
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Pillar of the Community
United States
4333 Posts |
I have to agree Jimbucks...the last few years silver has been lousy for investors. Personally, it's not an investment for me, and as I've been collecting, price isn't such a big deal at these costs.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Replies: 13 / Views: 3,369 |
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Posted 11/04/2014 7:25 pm
