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How hard is it to get spot value in cash for gold/silver?

Hey guys I was just wondering how hard it is to convert gold/silver to cash at a fair value?

Like I have a 1 oz Gold American Eagle and I’m wondering if a financial emergency came up..how long would it take me to find someone willing to pay the spot value of cash for it?

Like do Pawn Shops offer spot price? Or do they offer rip off prices like 10-20% under spot?

I’m only asking because I’ve never needed to sell gold before so I’m curious how liquid my AGE really is.

Thanks!

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Comments

  • DeutscherGeistDeutscherGeist Posts: 2,739 ✭✭✭

    It depends on the state of demand for gold at the time. You might have every coin dealer offer spot prices if it is something red hot in terms of sales. If demand is slow, they will offer below spot, you can be sure of that. It is within your right to call or go to different local dealers, pawn shops, or jewelry stores to offer it up to the highest bidder.

    As a rule of thumb, expect to get below spot, especially when wanting to sell local and same day.

    You would probably get at least spot selling on the BST on here, although the transaction would not be instantaneous.

    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

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  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭
    edited November 7, 2020 11:52AM

    @DeutscherGeist said:
    It depends on the state of demand for gold at the time. You might have every coin dealer offer spot prices if it is something red hot in terms of sales. If demand is slow, they will offer below spot, you can be sure of that. It is within your right to call or go to different local dealers, pawn shops, or jewelry stores to offer it up to the highest bidder.

    As a rule of thumb, expect to get below spot, especially when wanting to sell local and same day.

    You would probably get at least spot selling on the BST on here, although the transaction would not be instantaneous.

    What about American Gold Eagles specifically? Do you know if pawn shops or coin/jewelry dealers will pay any extra for an AGE than say a 1oz gold bar?

  • SmudgeSmudge Posts: 6,185 ✭✭✭✭✭

    @Gam3rBlake said:

    @DeutscherGeist said:
    It depends on the state of demand for gold at the time. You might have every coin dealer offer spot prices if it is something red hot in terms of sales. If demand is slow, they will offer below spot, you can be sure of that. It is within your right to call or go to different local dealers, pawn shops, or jewelry stores to offer it up to the highest bidder.

    As a rule of thumb, expect to get below spot, especially when wanting to sell local and same day.

    You would probably get at least spot selling on the BST on here, although the transaction would not be instantaneous.

    What about American Gold Eagles specifically? Do you know if pawn shops or coin/jewelry dealers will pay any extra for an AGE than say a 1oz gold bar?

    Mine does. AGE’s & ASE’s bring a bit more than generic bullion.

  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭
    edited November 7, 2020 12:53PM

    Does that apply globally too?

    Like for example if I took my AGE to China, Britain or France would I get the equivalent of $1900 USD in foreign currency for it? Or are prices different based on location?

    Basically my real question is if an AGE would be good to use as a sort of emergency reserve in case I need to get a relative large amount of cash immediately or need to barter for a large purchase.

    A good example is the Jews in Nazi Germany who used gold to get themselves out of Germany and therefore didn’t end up in concentration camps or dead.

    Yes I know a debit card does the same thing but the kind of emergency I’m thinking of I doubt the banking systems would remain fully functional. Not to mention I could barter with gold if hyperinflation or something set in.

  • Not hard at all. I have sold back to APMEX at spot.

  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭
    edited November 7, 2020 1:05PM

    @svmyt said:
    Not hard at all. I have sold back to APMEX at spot.

    Really?? APMEX pays spot??

    I’ve bought loads from them but I’ve never sold anything.

    But I should also mention I’m talking about getting instant cash. Like in an emergency.

  • Yes, but I should qualify I have sold only gold back to them. Plus, it’s not an instant option. Their process easily takes at least a week, and you have to send metals via insured registered post.

    @Gam3rBlake said:

    @svmyt said:
    Not hard at all. I have sold back to APMEX at spot.

    Really?? APMEX pays spot??

    I’ve bought loads from them but I’ve never sold anything.

    But I should also mention I’m talking about getting instant cash. Like in an emergency.

  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭

    @svmyt said:
    Yes, but I should qualify I have sold only gold back to them. Plus, it’s not an instant option. Their process easily takes at least a week, and you have to send metals via insured registered post.

    @Gam3rBlake said:

    @svmyt said:
    Not hard at all. I have sold back to APMEX at spot.

    Really?? APMEX pays spot??

    I’ve bought loads from them but I’ve never sold anything.

    But I should also mention I’m talking about getting instant cash. Like in an emergency.

    Yeah see I was more curious about using gold to get immediate cash so I wouldn’t want to wait for APMEX and snail mail.

    I am just wondering if I walked into a random pawn shop in America and showed them my 1 oz AGE how much they would offer. I know it’s different for each shop but surely there is a range or average or something.

  • I have never sold at pawn or coin shop but there are couple more options for you for spot+ without fees.

    • Facebook Marketplace
    • OfferUp app
    • [dare I say] Craigslist

    @Gam3rBlake said:

    @svmyt said:
    Yes, but I should qualify I have sold only gold back to them. Plus, it’s not an instant option. Their process easily takes at least a week, and you have to send metals via insured registered post.

    @Gam3rBlake said:

    @svmyt said:
    Not hard at all. I have sold back to APMEX at spot.

    Really?? APMEX pays spot??

    I’ve bought loads from them but I’ve never sold anything.

    But I should also mention I’m talking about getting instant cash. Like in an emergency.

    Yeah see I was more curious about using gold to get immediate cash so I wouldn’t want to wait for APMEX and snail mail.

    I am just wondering if I walked into a random pawn shop in America and showed them my 1 oz AGE how much they would offer. I know it’s different for each shop but surely there is a range or average or something.

  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭

    @svmyt said:
    I have never sold at pawn or coin shop but there are couple more options for you for spot+ without fees.

    • Facebook Marketplace
    • OfferUp app
    • [dare I say] Craigslist

    @Gam3rBlake said:

    @svmyt said:
    Yes, but I should qualify I have sold only gold back to them. Plus, it’s not an instant option. Their process easily takes at least a week, and you have to send metals via insured registered post.

    @Gam3rBlake said:

    @svmyt said:
    Not hard at all. I have sold back to APMEX at spot.

    Really?? APMEX pays spot??

    I’ve bought loads from them but I’ve never sold anything.

    But I should also mention I’m talking about getting instant cash. Like in an emergency.

    Yeah see I was more curious about using gold to get immediate cash so I wouldn’t want to wait for APMEX and snail mail.

    I am just wondering if I walked into a random pawn shop in America and showed them my 1 oz AGE how much they would offer. I know it’s different for each shop but surely there is a range or average or something.

    Yeah but the problem with those is that none of them are instant.

    They all require looking for a buyer, arranging a meet up, and then going to sell.

    I was thinking of it more as an investment that could be used as a cash reserve in case of emergency.

    Like let’s say my dog got hurt/sick and needed a $2,000 operation. It would be great to be able to go quickly sell my gold to cover such an emergency.

  • MsMorrisineMsMorrisine Posts: 24,874 ✭✭✭✭✭

    these days PMs are in demand here. you can probably find someone locally that pays spot or just over.

    when PMs are not going crazy you'd find 10% back of spot may be it. you could always take it around town to find out.

    I've only tried to sell a gold maple leaf in china. the buy gold places all had prices back of spot. I went in one shop with some very intricate gold art and asked what they paid and it was back of spot. they said they don't deal in collectible coins. I didn't bother with the collectible/bullion thing.

    gold bars are the last thing to buy for gold bullion. resale interest and buy prices are rough.

    careful with the subject of barter... that has a lot of opinions here and would need a thread of its own. a big thread... or you could find the many threads that already exist with the endless debates of the same points.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • tommy44tommy44 Posts: 1,712 ✭✭✭✭✭

    Call or go to a couple of coin shops, pawn shops or we buy gold folks and ask. You don't have to sell. BST can be almost instant, I've sold there in a few hours and money was in my PayPal account as soon as the buyer paid. For a tiny fee you can have it sent instantly to your checking account or even withdrawn at a ATM (I think) if you have a PayPal) credit card.

    Your vet might even be willing to talk a gold AGE as payment. :D

    Not to be negative but a cash reserve should be cash not precious metals. Precious metals or any "investment" should only be purchased with discretionary funds you won't need for the long haul.

    it's crackers to slip a rozzer the dropsy in snide

  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭

    @MsMorrisine said:
    these days PMs are in demand here. you can probably find someone locally that pays spot or just over.

    when PMs are not going crazy you'd find 10% back of spot may be it. you could always take it around town to find out.

    I've only tried to sell a gold maple leaf in china. the buy gold places all had prices back of spot. I went in one shop with some very intricate gold art and asked what they paid and it was back of spot. they said they don't deal in collectible coins. I didn't bother with the collectible/bullion thing.

    gold bars are the last thing to buy for gold bullion. resale interest and buy prices are rough.

    careful with the subject of barter... that has a lot of opinions here and would need a thread of its own. a big thread... or you could find the many threads that already exist with the endless debates of the same points.

    Well I only mentioned barter because of the historical precedent of Jews using gold to pay to escape Nazi Germany as well as South Vietnamese using gold to escape via sea from the Viet-Cong during the Vietnam War.

    But anyway, if I can redeem it for a tiny amount above spot I’ll be happy.

    Just curious though: Are dealers always buying? Like is there a point where dealers have so much gold that they won’t even pay 80% of spot let alone spot?

  • MsMorrisineMsMorrisine Posts: 24,874 ✭✭✭✭✭

    that last one is best for a dealer to answer. we have a few here. perhaps they'll stop in and answer.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 30,376 ✭✭✭✭✭
    edited November 7, 2020 3:02PM

    I would not sell an AGE, ASE or any quality PM product for spot under any circumstances. Anyone buying an AGE for spot has hit the lottery. Their is a reason the US Mint got $2.50 over spot for every one of the 1,653,000 bullion silver eagles it sold to wholesalers in the month of October.

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  • OPAOPA Posts: 16,323 ✭✭✭✭✭

    AGE's will get you above spot prices, even by APMEX and most of the big time boys.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 30,376 ✭✭✭✭✭
    edited November 7, 2020 4:04PM

    The larger the dealer the more likely they will buy your gold. Their buying decision is based on customer demand. Customer demand is based on direction of spot price movement.

    Faith (or lack of) in national political or economic management determines spot price direction, which is set by futures contracts demand (or lack of) on the commodity exchange (COMEX).

    As a holder or seller of gold you are basically at the mercy of political and economic puppet masters. Gold tends to move in the opposite direction of the US Dollar Index.. FWIW, the current ongoing creation of new dollars is heavily in your favor. Most who hold gold do so as a hedge against dollar destruction. I personally think of it as dollar insurance.

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  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭

    @derryb said:
    I would not sell an AGE, ASE or any quality PM product for spot under any circumstances. Anyone buying an AGE for spot has hit the lottery. Their is a reason the US Mint got $2.50 over spot for every one of the 1,653,000 bullion silver eagles it sold to wholesalers in the month of October.

    So when you say “quality PM prouduct” does that apply to other nation’s bullion coins such as the Gold Canadian Maple Leaf, Gold British Britannia, Gold Vienna Philharmonic, etc.,? Or just AGE/ASEs?

  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭

    @OPA said:
    AGE's will get you above spot prices, even by APMEX and most of the big time boys.

    Oh ok awesome! That’s good to know! I just want to be sure that if I need cash immediately I can get it without too much hassle. Now I know Gold prices change but if I know I can get spot or more for my AGE it makes me comfortable knowing it is a liquid asset and not something like land, a home or a car where it takes time to find a buyer to sell to unless it’s heavily discounted.

  • derrybderryb Posts: 30,376 ✭✭✭✭✭
    edited November 7, 2020 3:21PM

    I define a quality PM product as one manufactured by a sovereign mint or a highly reputable fabricator/producer who is specifically providing an investment or collectible product. Remember, there is additional cost to fabricate a coin or bar and that is passed on to the end user in the form of a premium. The value of this additional cost is determined by the market which explains the different premiums for different quality products.

    Premiums also include expected profit from the seller which explains why premiums will fluctuate in step with demand.

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  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭
    edited November 7, 2020 3:30PM

    @derryb said:
    I define a quality PM product as one manufactured by a sovereign mint or a highly reputable fabricator/producer who is specifically providing an investment or collectible product. Remember, there is additional cost to fabricate a coin or bar and that is passed on to the end user in the form of a premium. The value of this additional cost is determined by the market which explains the different premiums for different quality products.

    Premiums also include expected profit from the seller which explains why premiums will fluctuate in step with demand.

    Ah ok that makes sense. I guess in that case I’ll just toss (gently place) my AGE in my safe and pray I never need to use it.

    But I can rest knowing that if I ever need an emergency injection of funds interest free I always have the option of selling my AGE or 1/2 oz Gold $10 Indian Head Eagle.

    At the moment that would easily be $3000 (1.5 oz of gold @ ~$1950/oz + premium value of the AGE & the Indian which is worth more than melt value) which should be sufficient to handle any financial emergency in the near future without requiring me to sell my stocks, something I hate to do due to lost growth & dividends.

  • MsMorrisineMsMorrisine Posts: 24,874 ✭✭✭✭✭

    $10 indians have less than a half ounce of gold

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  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭

    @MsMorrisine said:
    $10 indians have less than a half ounce of gold

    True. It’s like 0.48 oz but I just rounded up since 0.02 oz is only going to change the price by a few bucks.

    Either way the Indian is still worth $1,000+ based on what has recently sold on EBay, so it is indeed worth more than it’s melt value.

  • derrybderryb Posts: 30,376 ✭✭✭✭✭
    edited November 7, 2020 4:03PM

    Aside from collector coins, precious metals are not really a good investment vehicle for providing gains. They are a great investment to preserve value of the dollars used to buy them. History has proven that over time inflation and poor money management destroy the value of the dollar. History has also proven that PMs help retain the value of the dollars used to purchase them. Their gain in value is a result of the dollar's loss in value; they share an inverse relationship.

    When one looks at the "profit" from a PM sale and then subtracts the loss of purchasing power of the dollars he received he will normally see that the profit was simply inflation insurance protection.

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  • Downtown1974Downtown1974 Posts: 5,470 ✭✭✭✭✭

    Gam3, when stacking PMs it’s best to position yourself where you sell when you WANT to, not when you HAVE to. Like the example you cited above...if you needed 2 grand in a pinch for a veterinarian bill. Best to have cash reserves for emergencies rather than being at the mercy of the metal market.

  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭
    edited November 7, 2020 4:49PM

    @Downtown1974 said:
    Gam3, when stacking PMs it’s best to position yourself where you sell when you WANT to, not when you HAVE to. Like the example you cited above...if you needed 2 grand in a pinch for a veterinarian bill. Best to have cash reserves for emergencies rather than being at the mercy of the metal market.

    Thanks! I actually do have some cash reserves but I don’t like to have too much cash so I invest most of it. To me it just seems like 1 oz of gold would keep me fed and sheltered for a week regardless of what is going on economically. For example hyperinflation due to mass money printing to fund all the free college and free healthcare and such. It could happen. If the government tries to print it’s way out of debt the value of money is weakened.

    Gold is one of those things that can keep me alive even if the dollar becomes absolutely worthless and used as wall paper like the Mark was during the hyperinflation of the Weimar Republic.

  • bronco2078bronco2078 Posts: 9,035 ✭✭✭✭✭

    yeah but 1 oz gold is too big so back to the drawing board

  • MsMorrisineMsMorrisine Posts: 24,874 ✭✭✭✭✭

    you want to know what buy prices are for immediate sale?

    hit the coin stores and pawn shops next week.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • bronco2078bronco2078 Posts: 9,035 ✭✭✭✭✭

    @MsMorrisine said:
    you want to know what buy prices are for immediate sale?

    hit the coin stores and pawn shops next week.

    this and as a bonus bringing a coin in to sell and being willing to walk out with it gets you better prices.

    dealers can be pretty full of themselves making them cry is good clean fun.

  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭

    @MsMorrisine said:
    you want to know what buy prices are for immediate sale?

    hit the coin stores and pawn shops next week.

    I appreciate the advice but I was referring to how it would work in like an emergency situation like a severe financial crisis such as The Great Depression or even the Great Recession.

    Can dealers afford to buy gold when the economy is in severe trouble?

    Just a hypothetical situation I’m trying to prepare for to have piece of mind and know I’ll be safe, fed, warm and clothed no matter what happens. Unless things get really freaky.

  • MsMorrisineMsMorrisine Posts: 24,874 ✭✭✭✭✭

    now you're into barter territory.

    bring on the opinions!

    will someone want gold in place of their food? something to think about....

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭

    @MsMorrisine said:
    now you're into barter territory.

    bring on the opinions!

    will someone want gold in place of their food? something to think about....

    True, but I mean like in 2007-2008 were dealers actively buying gold? Gold wasn’t used for barter I don’t think and financial times were tough so were they still happy to buy? Or did they have hard times too and therefore gold was hard to sell without being heavily discounted (85% of spot or below)?

    I just don’t know enough to know what went on in the precious metals markets during that time. I only started collecting in 2016.

  • jclovescoinsjclovescoins Posts: 956 ✭✭✭✭

    someone is always willing to buy gold...I would say the reasonable range is 80% to 105% of spot...most of the time you will get 95%-99% of spot when selling...

    if a dealer has cash...I think all reasonable dealers would offer you at least 80% regardless of financial conditions in the country

  • derrybderryb Posts: 30,376 ✭✭✭✭✭
    edited November 9, 2020 5:59AM

    When precious metals are needed to barter it's far too late. Better to have stacked beans and bullets. PMs should not be bought for barter. They should be bought to return to cash when the cash is needed. Think of it as a savings account with interest that matches dollar decline.

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  • MsMorrisineMsMorrisine Posts: 24,874 ✭✭✭✭✭

    the dealers on here will have to come in and post about their buy habits during the financial crisis.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • Are you sure bout that? I have sold to APMEX and they never ponied up above spot for AGEs. Even for MS69s (which I didn’t sell).
    You can obviously sell above spot on eBay but the fees gets you.

    The only gold coins I have sold above spot price to APMEX are five nine (.99999) pure Maple Leaf. They paid $80 over spot for 2013 edition in 2015. Spot was 1300 then. I have also sold 5-9 maple leaf coins in India for $50 over spot. That is on top of the already inflated spot in India.

    @OPA said:
    AGE's will get you above spot prices, even by APMEX and most of the big time boys.

  • OPAOPA Posts: 16,323 ✭✭✭✭✭

    @svmyt said:
    Are you sure bout that? I have sold to APMEX and they never ponied up above spot for AGEs. Even for MS69s (which I didn’t sell).
    You can obviously sell above spot on eBay but the fees gets you.

    The only gold coins I have sold above spot price to APMEX are five nine (.99999) pure Maple Leaf. They paid $80 over spot for 2013 edition in 2015. Spot was 1300 then. I have also sold 5-9 maple leaf coins in India for $50 over spot. That is on top of the already inflated spot in India.

    @OPA said:
    AGE's will get you above spot prices, even by APMEX and most of the big time boys.

    It's been a while...circa 2013,2014. APMEX normally had a rep at the Baltimore coin shows and their buy price was readily available on their website, which it is no longer. With the current volatility in PM's, it would not surprise me if they buy AGE's below or at spot.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • tincuptincup Posts: 3,666 ✭✭✭✭
    edited November 8, 2020 6:38AM

    Gam3rBlake, there are no guarantees for the question you have asked. As you can see, you are going to get quite a few opinions, but no one can know for sure. And I'll certainly share mine.
    \
    There are times when cash is king. Even when you are going to want to sell that eagle to a dealer, etc... you are likely wanting cash. So the best thing.... IMO.... is to be diversified. Make sure you have liquid investments/cash on hand for 6 months expenses, so you avoid getting into a situation where you feel you have to immediately convert that gold.
    \
    Once you are in a situation where you are needing cash so bad that you need to covert your gold fast... you are somewhat out of the drivers seat and may not get very good terms. Save the gold for when you get the terms you want... or extreme emergencies like one of the examples you gave (no, IMO an unexpected vet bill is not an extreme emergency; a vet bill is something that those 6 month cash reserves are for).

    ----- kj
  • TPGSTPGS Posts: 73 ✭✭✭

    Wait for a coin show in your area and walk the floor. Not hard to find a fair paying bullion dealer.

    I've built a great relationship with my local dealer. I can sell any ammount I want to just 6 miles down the rode. I ALWAYS sell to him on up days ONLY.

    When you do sell, sell on an up day for whatever metal your selling. Dealer's seem happier to buy on a up day than when metals are down. imo

  • TwoSides2aCoinTwoSides2aCoin Posts: 41,791 ✭✭✭✭✭

    Hypothetically it's easy, like your pondering.

  • OverdateOverdate Posts: 6,494 ✭✭✭✭

    For instant liquidity you could put a small portion of your gold holdings into an exchange traded fund within a brokerage account. This has some disadvantages compared to physical, but it has the advantage of higher liquidity, less hassle and a much lower bid/ask spread.

    My Adolph A. Weinman signature :)

  • bronco2078bronco2078 Posts: 9,035 ✭✭✭✭✭

    1099's are a hassle ;)

  • TwoSides2aCoinTwoSides2aCoin Posts: 41,791 ✭✭✭✭✭

    With a forty + dollar drop it's easy. PM me for a deal

  • derrybderryb Posts: 30,376 ✭✭✭✭✭

    @bronco2078 said:
    1099's are a hassle ;)

    only if you are issuing them. Otherwise they are not much different than receiving a W-2; just another source of income all summed up for you on one piece of paper.

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  • derrybderryb Posts: 30,376 ✭✭✭✭✭
    edited November 9, 2020 6:00AM

    @Overdate said:
    For instant liquidity you could put a small portion of your gold holdings into an exchange traded fund within a brokerage account. This has some disadvantages compared to physical, but it has the advantage of higher liquidity, less hassle and a much lower bid/ask spread.

    This.

    I use TD Ameritrade on-line. In or Out with the push of a couple of buttons. There are many precious metal ETFs including some that offer 2 or 3 times the price movement (in each direction) of the underlying metal. If you are not familiar with ETFs, they trade just like stocks. I think of them as the modern mutual fund that have the advantage of trading anytime the markets are open for trading.

    For example, the ease and quickness of trading ETFs just enabled me to dump some metals and buy some Pfizer in only a few minutes at 8 a.m., still in my jammies.

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  • bronco2078bronco2078 Posts: 9,035 ✭✭✭✭✭

    @derryb said:

    @bronco2078 said:
    1099's are a hassle ;)

    only if you are issuing them. Otherwise they are not much different than receiving a W-2; just another source of income all summed up for you on one piece of paper.

    store your digital gold in the matrix if you must B)

  • derrybderryb Posts: 30,376 ✭✭✭✭✭

    digital gold is a short term investment, not much different than a stock.
    physical gold, in my hands, is long term insurance.

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  • JJMJJM Posts: 7,452 ✭✭✭

    My first stop if I was really in a jam would be to post it here in the BST Forum, try for PPFF and free ship and you should get spot, cash is in your PayPal, then transfer to your bank, you’ll have cash next day

    BST's AL410,Tdec1000,AnkurJ,guitarwes,erickso1,cone10,MICHAELDIXON,TennesseeDave,p8nt,jmdm1194,RWW,robkool,jfoot13,Ahrensdad,Timbuk3,
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  • BAJJERFANBAJJERFAN Posts: 30,261 ✭✭✭✭✭

    @derryb said:
    I would not sell an AGE, ASE or any quality PM product for spot under any circumstances. Anyone buying an AGE for spot has hit the lottery. Their is a reason the US Mint got $2.50 over spot for every one of the 1,653,000 bullion silver eagles it sold to wholesalers in the month of October.

    Has the mint increased their premium from $2 to $2.50?

  • rickoricko Posts: 77,889 ✭✭✭✭✭

    Gold bullion coins are good insurance against the falling dollar... But look at spot today when money is pulled from gold for the stock market... big dip. Cheers, RickO

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