Hooray for the PM drop!

GoldenEyeNumismatics

I'm glad to see those PMs falling.

Coll3ctor

ChrisRx

Me too since I sold ALL MY GOLD @ 1000/oz

fc

<< <i> >>



lol.

i agree. i am glad to see PMs tank. I only own a small pile of junk silver
and 20 ounces of .999 fine right now.

my collection is trimmed down to only 5 coins and i could care less if
the whole PM and numismatic market tanked tomorrow.

BAJJERFAN

Yup, this place is a lot livelier when gums are a yappin and sphincters a flexin.

originalisbest

Hurrah for the PM tank!

Don't worry, I'm sure 1500 gold and a 5000 dow are right around the corner... tinfoil hat assuredly attached... koolaid on ice.... etc, etc, etc, trust no one, the truth is out there, and so forth. Right?

Gemineye

<< <i>

I'm glad to see those PMs falling. >>


.....I agree...the PM market is over-rated and has too much effect on the base metals and other areas of the markets.If the PMs were to be fixed to a nominal rate of fluctuation then there would be some stability.JMHO.........

Placid

I could care less if pms drop or go up. I am more interested in the price of oil.

storm888

The fun for the SHORTS has only just begun.

BECOKA

I just want Gold to drop down below a dollar just for a few days.

veryfine

For some strange reason, the gold buffalo bullion coins are still selling significantly higher than melt. Does anybody have a rational explanation for this?
It's as if these buyers are pretending that gold is still $900 per ounce.

Longacre

I lost so many millions in the stock market that I'm glad I stayed out of the metals frenzy.

Bear

PMs seem to be a zero sum game. At any given time

there are winners and wieners.

adamlaneus

As soon as it hits $42, i'm buying like a madman!

Silver, gold, platinum, rhodium, palladium. I don't care.

$42. BUY!!!


[edit] All joking aside (very hard for me to do today)...taking advantage of business cycles is the way to get ahead in ANY market.

ricko

I would certainly hope the only reason many are happy to see PM's tank, is so they can buy in preparation for the next run-up. Any other reason would be envy, and not worthy of our class of people... (did I just say that?).... Cheers, RickO

BECOKA

<< <i>For some strange reason, the gold buffalo bullion coins are still selling significantly higher than melt. Does anybody have a rational explanation for this?
It's as if these buyers are pretending that gold is still $900 per ounce. >>



Because they were bought at a premium and people don't want to sell for less than cost. The mint still charges a premium so you can't buy them new for less and as long as there is a demand the prices will stay high.

veryfine

<< <i>

<< <i>For some strange reason, the gold buffalo bullion coins are still selling significantly higher than melt. Does anybody have a rational explanation for this?
It's as if these buyers are pretending that gold is still $900 per ounce. >>



Because they were bought at a premium and people don't want to sell for less than cost. The mint still charges a premium so you can't buy them new for less and as long as there is a demand the prices will stay high. >>


I understand the seller's position, but shouldn't the demand take a nose dive? I would imagine that many of these bullion coins would just sit there, gathering dust at those higher prices.

originalisbest

What envy? None here. But there is a bit of bemused observance.

JohnMaben

<< <i>

<< <i>

<< <i>For some strange reason, the gold buffalo bullion coins are still selling significantly higher than melt. Does anybody have a rational explanation for this?
It's as if these buyers are pretending that gold is still $900 per ounce. >>



Because they were bought at a premium and people don't want to sell for less than cost. The mint still charges a premium so you can't buy them new for less and as long as there is a demand the prices will stay high. >>


I understand the seller's position, but shouldn't the demand take a nose dive? I would imagine that many of these bullion coins would just sit there, gathering dust at those higher prices. >>



I think there is a misconception that the 2008-W Buffalo's being sold at the mint website right now are "bullion". These were not struck to be "bullion". That's what the "no W" one ounce coin that was sold beginning in January was intended to be, a "bullion coin". Those will adjust with spot. However, the "W" coins are not being sold by the mint based on spot, and therefore resellers like my company are not adjusting as our cost has not changed.

If the mint does lower prices, we would follow.

As for sales, true, the more gold falls the less sales we are seeing. However, sales are still healthy just not booming as the were in the first two weeks after the July 22nd release.

John