| Author |
 Replies: 38 / Views: 3,323 |
|
|
|
Pillar of the Community
1028 Posts |
On craigslist, as soon as they second big silver drop happened, all silver sellers suddenly disappeared and silver buyers popped up all over the place. Hmmm. They were asking to buy at spot, and I doubt any got any answers
|
|
Pillar of the Community
United States
1080 Posts |
The shop I visit was absolutely sold OUT on Saturday. They got slammed Friday. They will take orders during the week, but not when the market is closed. They were digging up weird stuff in the back to offer to buyers.
|
|
Pillar of the Community
United States
2120 Posts |
Saw the same thing. People would come and want 100 generic rounds. They would say, don't have em, there are some here and there in cases but thats about it, just novelties and a handful of Maples and ASE's. |
|
Valued Member
 United States
53 Posts |
Did all the leaders of local coin shops get together and decide to do this? Do they have a secret base?
|
|
Pillar of the Community
1028 Posts |
Yes, yes they do.
Edited by hesgut
09/26/2011 9:11 pm
|
|
Pillar of the Community
United States
573 Posts |
Quote:
Did all the leaders of local coin shops get together and decide to do this? Do they have a secret base? It's right next to the secret island where all the gas station owners meet to synchronize their gas prices. |
|
Pillar of the Community
United States
3294 Posts |
Meanwhile, at the Legion of Doom...
|
|
Valued Member
Australia
278 Posts |
i hve not seen a silver coin yet t a coin shop tht was selling for spot.
|
|
Pillar of the Community
United States
2168 Posts |
Just wondering if any coin shop owners frequent these boards? I know a few other travel boards do have professionals included in posters
|
|
Pillar of the Community
Australia
7096 Posts |
Be reasonable you blokes.
The dealers were probebly flat out trying to buy in the dip yesterday and trying not to sell at a loss, Same as you's blokes.
They are in this to make a living, We are there to invest a wee bit of spare cash and have some fun on the way.
So give them a break they will be reasonable 99% of the time.
And NO I am not a dealer, Before you ask
|
|
Valued Member
United States
302 Posts |
I would assume that dealers at least lurk here and/or post. I know I would.
I am not a dealer in PM, but I am a dealer in other metals.
Periodically, I sell for less than I paid, but I don't care as long as I can buy it back at less than I sold it for. So far, in over 40 years, I have always been able to buy back at a lower price, usually the same day. The net result is even when I sell at a loss, I still have cash PLUS I still have my metal.
One of the PM dealers I deal with will sell me junk silver at spot and even deliver it to me. Even though that is a very good deal, I don't buy much from him. I did tell him last month that when silver got to $25, I would be a buyer. He told me he would contact me if silver went to $25.
|
|
Pillar of the Community
United States
1391 Posts |
Got off work early on Friday and decided to go to the coin stores. Went to the three major ones we have. One closed. Next one had 9 various 1 oz coins (maple leaves, kookaburras, pandas, etc). They were all out of silver rounds. Normally they have a huge box of them by the cash register. Not on Friday. Went back in on Saturday and they had a few rounds in the box. Third store had some rounds and a few 1 oz coins. Other than than both stores had various smaller silver coins (90% US and commemortives, Canadian, Mexican, etc.) At any rate, they were mostly sold out and nothing was in the display cases. Both places were selling for spot plus a small premium depending on what you bought. About a dollar for a silver round up to 4 dollars for new ASE. |
|
Rest in Peace
United States
9104 Posts |
There are a number of reasons why a store dealer may have stuff in the back that's not for sale at the moment. Just because you see a dealer buy a bunch of silver doesn't mean he wants to (or even can) sell it to you, especially if you want to cherrypick.
|
|
Rest in Peace
United States
9104 Posts |
When the spot drops, you need to buy from brokers, not dealers. It's not fair to expect a dealer to lose money on a sale due to lower spot, since he (like you) know that he can hold it for a week or two and at least get his money back, because the overall market is rising.
Also, when the spot drops, the first thing that happens is people stop selling. If a dealer doesn't have it coming in, he can't very well sell it.
|
|
Pillar of the Community
United States
2049 Posts |
Quote:
There are a number of reasons why a store dealer may have stuff in the back that's not for sale at the moment. Just because you see a dealer buy a bunch of silver doesn't mean he wants to (or even can) sell it to you, especially if you want to cherrypick. Quote:
When the spot drops, you need to buy from brokers, not dealers. It's not fair to expect a dealer to lose money on a sale due to lower spot, since he (like you) know that he can hold it for a week or two and at least get his money back, because the overall market is rising.
Also, when the spot drops, the first thing that happens is people stop selling. If a dealer doesn't have it coming in, he can't very well sell it. Very true on these points. The people that complain about silver running being out of stock when the spot price drops are forgetting that they are not the only ones trying to take advantage of the dip. As you said, when the spot price drops, the people coming in to sell slows down dramatically. Either way, the expectation that the dealer should have boatloads of silver to sell when the price dips is both unrealistic and unfair. I was in a coin shop Thursday. Normally they have a line of people waiting to sell things, but with the recent knockdown of silver and gold there were only 3 customers total. Only one was selling, two were looking to buy. |
| |
Replies: 38 / Views: 3,323 |
First Page
Posted 09/26/2011 6:59 pm
