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 Replies: 14 / Views: 1,805 |
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Bedrock of the Community
United States
11898 Posts |
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
12/24/2016 10:31 am
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Pillar of the Community
United States
6370 Posts |
Yes. Buy it now before they change the price.
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Bedrock of the Community
 United States
11898 Posts |
Can anyone estimate what their loss would be on each ounce after shipping, ebay selling fees, and internal processing costs? Why would they take such a large loss? Smells funny. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
12/24/2016 10:43 am
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Pillar of the Community
United States
3210 Posts |
They obviously didn't pay full retail for it. They probably won't make a killing on it but won't take a loss. Think about it, it's Christmas time and people need gift ideas and they need to move inventory, plus gold is the lowest it's been in several years. If I didn't fork out $480 on a NGC ms63 1901 S $5 gold last night I'd consider a bar.
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Bedrock of the Community
United States
11898 Posts |
Tough to buy gold at $1 over spot delivered no matter how large a dealer you are.
They could have bought it when spot was lower. The only reason I could think of for this is that they are trying to raise cash for some reason.
So far they have sold 2,749oz. At $1,137 that would be about $3 million. That's a lot of gold.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
12/24/2016 10:52 am
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Rest in Peace
United States
17900 Posts |
They count the loss as a cost of customer acquisition, already figuring a percentage of new customers versus previous buyers.
They also know the average value per year both for average sales and GPD per new customer. Based on those numbers they know, on average, profit per new buyer per year.
It also enthuses current buyers to think better of the company as they will tend to do more business with them.
This is an example of smart people running their business like a business. No scam required.
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Bedrock of the Community
United States
11898 Posts |
I am familiar with the concept of loss leaders. However they seem to have sold $3 million of this stuff. That seems pretty steep for a loss leader.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Bedrock of the Community
United States
11898 Posts |
According to this site: http://www.pmbull.com/gold-bullion/a very low premium for a 1oz gold bar is $18.95 or about 1.5%. This firm has sold 2,749 so the cost of this offer to the firm is about $50,000. You would have to add ebay fees and shipping costs to that. Seems steep to me. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
12/24/2016 11:07 am
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Bedrock of the Community
United States
11898 Posts |
I would also posit that gold bullion buyers aren't that loyal. They move at a blink of an eye to the lowest cost seller in sight. That would make building goodwill from these customers using loss leaders an iffy investment.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
12/24/2016 11:14 am
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Pillar of the Community
United States
1812 Posts |
As with all questionable purchases, I would follow my gut.
If I were really unsure, I would pass and wait until something else jumps at me.
I deal in Errors and know when to jump at a bargain and when to pause, as for this type of gold bullion and the number of counterfeit/fake pieces on the market, I would only purchase from a trusted source..
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Rest in Peace
United States
17900 Posts |
Two other possibilities. First, they may be so sick of dealing with the fake Chinese gold bars that have inundated the market in the last year that they are dumping their generic bars and backing away from non-coin bullion.
Second, perhaps they are feeling an upcoming decline in gold value and are liquidating inventory now in anticipation of such a drop.
Or even a combination of the two.
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Pillar of the Community
United States
1450 Posts |
Since we don't know if gold will be selling for $800 an ounce or $2000 an ounce in 5 years you pays your money and you takes your chances. This is gambling. Look at the charts just for the last since 2000 and see where gold has been. There is no such thing as cheap gold. There is historic mean price and we are way above that now.
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Bedrock of the Community
United States
11898 Posts |
Quote:
Look at the charts Agree that investing based on looking at charts is gambling.  IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Bedrock of the Community
United States
10982 Posts |
Looks perfectly legit. Offers like this pop up regularly on ebay and have for many years. No worries, if you want an ounce of generic gold delivered at melt this is the way to go. |
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Pillar of the Community
United States
1298 Posts |
Has anyone received theirs yet? What is the condition?
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Replies: 14 / Views: 1,805 |
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Posted 12/24/2016 10:41 am
