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Was in the coin shop today and....

Watched a guy come in, ask for 340 Ounces (3-100 oz. bars and 40 rounds) and then pay cash for them. What does he know that I don't? It is like there is this whole bullion world out there, and I have no clue why? If it goes up a dollar, he makes $340. Hello? Is thing thing on?

Comments

  • much easier but a little less satisfying to by a EFT for silver.
  • Not to mention the need for a hernia belt.
  • DaveGDaveG Posts: 3,535
    Actually, there is a "whole bullion world" out there that most of us don't know anything about.

    What's really interesting (weird) is the intersection of the survivalists/gun nuts and the coin/bullion guys. image

    Check out the Southern Gold Society

  • BRdudeBRdude Posts: 1,079 ✭✭✭
    The dealers in my area actually discount anything over a 1 oz bar or roundimage Doesn't make sense to me, but it's their business....
    AKA kokimoki
    the right of the people to keep and bear arms shall not be infringed
    Join the NRA and protect YOUR right to keep and bear arms
    To protest against all hunting of game is a sign of softness of head, not soundness of heart. Theodore Roosevelt
    [L]http://www.ourfallensoldier.com/ThompsonMichaelE_MemorialPage.html[L]
  • right now is not really a great time to buy much silver or gold anyway being that gold and silver are no really steady. One day they are up a lot, the next they are down even more
  • bumanchubumanchu Posts: 1,383 ✭✭✭
    The silver ETF as well as the Gold ETF's have a built in spread, not unlike a premuim for bars.

    The difference with paid for silver in hand is just that, you have it in hand and you don't have to worry about delivery or non-delivery.

    90% silver US coinage generally gives you the most bang for your buck. Plus, you may find something of numismatic value on a rainy day!

    Oh yeah, I almost forgot, make sure you have guns and bullets if your stash is within 100 yards of your residence....like that would do any good anyway! image
    And I ain't lying this time.


  • << <i>right now is not really a great time to buy much silver or gold anyway being that gold and silver are no really steady. One day they are up a lot, the next they are down even more >>


    That's pretty much like the stock market, eh? Gold is about as stable as it gets. Take a look at the 10 year gold chart. That's almost a perfect incline:
    Gold chart
    I bought silver at $4.50 an ounce, $7 an ounce, and I'm still buying it. If it's that or cash, it's a no brainer. Every investment portfolio should have precious metals. No exceptions. Cash=bad investment. Stocks=if cash crashes, so do stocks. Precious metals=a hedge against inflation and down markets.



  • << <i>The dealers in my area actually discount anything over a 1 oz bar or roundimage Doesn't make sense to me, but it's their business.... >>


    1 ounce rounds cost $1.00 to manufacture. 100 ounce bars cost about the same to manufacture. Thus, 100 ounce bars cost less per ounce to make, and so they cost less to purchase. Gold and silver eagles are bullion coins--I don't understand the desire to get them slabbed, but that's someone else's worry. In any event, I enjoy looking at my bullion so I've found ways to make it collectible as well as an investment. Investing in gold and silver stocks is a terrible idea--because the whole point of investing in precious metals is to have something tangible, not a piece of paper.
  • notwilightnotwilight Posts: 12,864 ✭✭✭
    I was impressed until I realized you were talking silver instead of gold.
  • DUIGUYDUIGUY Posts: 7,252 ✭✭✭
    There is a whole lotta " Worlds " out there this forum has not touched on much . image
    “A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly."



    - Marcus Tullius Cicero, 106-43 BC
  • notwilightnotwilight Posts: 12,864 ✭✭✭


    << <i>There is a whole lotta " Worlds " out there this forum has not touched on much . image >>



    And there are a lot of worlds that this forum bumps into without the author realizing where he's at. (not talking about this thread). --Jerry
  • DUIGUYDUIGUY Posts: 7,252 ✭✭✭


    << <i>

    << <i>There is a whole lotta " Worlds " out there this forum has not touched on much . image >>



    And there are a lot of worlds that this forum bumps into without the author realizing where he's at. (not talking about this thread). --Jerry


    Yepper ! image
    “A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly."



    - Marcus Tullius Cicero, 106-43 BC
  • A $340 profit sounds all right to me for two, couple minute transactions.

    John
    Coin Photos

    Never view my other linked pages. They aren't coin related.
  • Some people just like having gold and silver in different forms. If the dollar and the economy crashes they could possibly have $0 value. That would be unlikely for silver,gold and other metals.Just a little insurance policy.
  • theumptheump Posts: 634 ✭✭
    It all depends where a person thinks gold and silver are heading. I think they are heading much, much higher. I personally have a couple of thousand ounces of silver stored away. I am looking for at least $1500 in gold and proll $30 in silver. Why? The position of the US in the world is slipping, dollar devaluation (erosion) housing bubble, gov't debt, personal debt, should I go on?


    Now, this might be heresy on this forum, but, if everything goes to pot the way I think it may, coins, may lose some of their intrinsic value. By that I mean, you rare half, dime, half dime, etc., could go down as people need money for other things to live on. In fact all collectibles could go down as you could see an onslaught of these type of coins hit the market. I know coins did well in the last severe recession around the early 80's, but I think what is coming up will dwarf that period.

    I work in the securities industry so I am on top of stuff like this.
  • bidaskbidask Posts: 13,834 ✭✭✭✭✭


    << <i>A $340 profit sounds all right to me for two, couple minute transactions.

    John >>

    The same volitility creates a big spread on the sell side too, so that if silver goes up a dollar, when you sell you may only capture 70c
    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • At $655 per ounce that would be $222,700.00! He better keep it somewhere safe.

    BTW, what's his address? LOL.


  • << <i>At $655 per ounce that would be $222,700.00! He better keep it somewhere safe.

    BTW, what's his address? LOL. >>





    Most coin shops don't have 100 oz. gold bars, much less three of them.


    image

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