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 Replies: 38 / Views: 3,322 |
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Valued Member
United States
53 Posts |
I was looking for any silver bullion on Friday and the coin shop said they were out and that it was all sold the day before. They told me to come back in the afternoon and that they would get more. Also, they told me that they "might" have a SE laying around in the back. The lac of supply that these liars claim to have will drive the market up. Agree of Disagree?
Laters.
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Moderator
 United States
16679 Posts |
That's like McDonald's saying they might have an extra cheeseburger in the back...come back later  swcoin.ecrater.com
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Pillar of the Community
United States
2168 Posts |
The low quantity isn't odd. Bit the laying around in the back is. Many sites state out of stock for various types of products
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Valued Member
 United States
53 Posts |
yes, but the sites (such as Provident Metals which I believe has the fairest prices on the net) are showing out of supply on everything. I believe that they are not the end supplier but middle men types that buy JIT inventory. Whatevs.
LW211
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Pillar of the Community
United States
1903 Posts |
I think "out of stock" right now translates to, "I don't want to sell at a loss" simple as that
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Pillar of the Community
United States
2049 Posts |
Or the lack of supply might be due to the fact that many buyers came in to take advantage of the dip in prices and bought out what they had. Did that ever occur to you? To call them liars automatically is a bit harsh don't you think?
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Pillar of the Community
United States
2049 Posts |
Quote:
I think "out of stock" right now translates to, "I don't want to sell at a loss" simple as that That's possible and that's their right as well. There's no law that says they HAVE to accomodate buyers who want to take advantage of lower spot prices. So in reality, it could be that they did sell out, or they pulled inventory to not sell at a loss. |
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Pillar of the Community
United States
3670 Posts |
I think only the big dawgs with much capital can sell right now without taking much of a lose, esp if the products consist of nice key, rare older nice condition dates. The same guys that were selling at $250 gold and 5 dollar an oz. silver....
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Pillar of the Community
Canada
1502 Posts |
Quote:
The lac of supply that these liars claim Don't think it's much of a lie unless they are real small time. Makes no difference what price is, they can just buy more at lower than market (not lower than spot) prices. That's how APMEX and any other dealer with enough floating cash to make many. Also, visited my local first thing friday morning (they open at 10am and I was there at 10:30), I was just there to chat and over the course of less than 45min, saw the store sell least 500 oz of silver. I believe the store owner when he said he had nothing left but commemorative and non PM coins to sell on Saturday |
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Pillar of the Community
United States
1590 Posts |
In our area, central ohio, buyers were selling in droves to beat the crash. My buyer made one large deal the night before that ended up costing him thousands of dollars. Tens of thousands of dollars. Is it any wonder they are not selling right now? I'm not sure he will even be buying right now!
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Pillar of the Community
United States
3294 Posts |
My place had plenty for sale, and many people were lined up selling more. I had a good time going though the 90% bin and picking out a roll of dimes to buy.
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Valued Member
United States
53 Posts |
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Pillar of the Community
United States
2424 Posts |
i agree. my coin shop actually had 300-400 wash 90% but all at 26.5x face. still trying to make up for their losses..
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Valued Member
United States
397 Posts |
Which store in central Ohio?
I called the one in Grove City and they're wanting 30x FV for junk.
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Pillar of the Community
1028 Posts |
I have two questions.
How exactly might the local shop obtain more silver by the afternoon unless they were specifically expecting it?
Also, if they had anything in the back, how could "might" ever be an issue...why don't they go back and check.
Then again, if the people working at your local coin shop are as friendly and have the social skills as the ones working at coin shops near me, I wouldn't be surprised. I feel about as comfortable at my local coin shop as I do at the dentist, those guys are terrible sometimes.
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Pillar of the Community
United States
1590 Posts |
Newark. He was buying at 18x. Selling at 24x. Or would be selling if he had not sold his entire inventory on Friday to one buyer; and then took a bath! He's shutting down for the week, for various reasons.
30x is roughly 50 percent over spot right now. Not sustainable if the price remains at $30/oz. My understanding is that people want to buy right now. But only because it is low. I talked to a few customers that were shopping around and none of them were buying for more than 25x. And why should they? At 30x that is the price it was last week. You can't have a "buy on the dip" if the sellers don't lower their prices.
Lol, it is only a buyers market if the prices come down. I mean if there is no profit then why get in the game at all? If you buy at 30x then you need a close above 40$/oz to make any money. So at 30x you are losing money, maybe a lot of money!
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Replies: 38 / Views: 3,322 |
Posted 09/26/2011 12:31 am
