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APMEX stops selling ASE - Update: Selling Again (Fri)

ProofCollectionProofCollection Posts: 6,121 ✭✭✭✭✭
in Precious Metals
Checked earlier today and APMEX was only selling 2010 ASEs. Just checked again and they are no longer available for sale. I'm guessing they'll be back soon but at higher premiums... Unless there was a run today due to the "sale" and they sold out...

Comments

  • bouchardaboucharda Posts: 2,941
    The last time silver tanked they "ran out" until the price went back up....then there were plentyimage
  • cohodkcohodk Posts: 19,108 ✭✭✭✭✭
    They are probably way under water on these. A premium is just another word for manipulation or market making.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Norseman88Norseman88 Posts: 962


    << <i>They are probably way under water on these. A premium is just another word for manipulation or market making. >>



    This is true, the only exception would be huge demand causing a physical shortage which in turn would force dealers to pay higher premiums to secure product and pass the cost on to consumers.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    imageRecord phone & online sales!

    Record loss'simage
    Avid collector of GSA's.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    But they seem to have silver available and for sale in basically every other form.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • KonaheadKonahead Posts: 1,476 ✭✭✭
    I was on the site about 1pm pacific and they had 2010 at $18.11, now all gone? They still have maple leaves at the same price.
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • COINB0YCOINB0Y Posts: 4,505
    Amazing at the timing of these events take place together: The PM price drops as the Stock Market Tanks and the PM Dealers have no coins to sell
  • MilesWaitsMilesWaits Posts: 5,349 ✭✭✭✭✭
    Tulving's still in business!

    APMEX did the same thing last time silver dumped. They are saddly predictable.....

    Miles
    Now riding the swell in PM's and surf.
  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭
    Apparently APMEX is expecting a quick rebound in PM prices.image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • clouisejewelersclouisejewelers Posts: 329 ✭✭
    You guys do realize they are free to do whatever they want with the coins they own, right? We are not a completely socialistic society just yet. If I knocked on your door and demanded you sell me your PMs at spot on any given day you would tell me to pound sand. APMEX has the same freedom, maybe not for long as everybody seems to like to tell other people what to do with their lawfully owned property.

    Do you also realize that the spot price is a representation of all the buyers and sellers in the marketplace? Crack an ECON 101 textbook and learn about supply and demand. If a vendor doesn't like the price he can just keep his goods off the market and in effect drive the price higher. If a buyer wants a good but doesn't like the price he can not buy and in effect drive the price down to a level more his liking. There are so many hypocrites in tho world who will violently defend their rights and trash the rights of others.
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    Actually, one could argue that pulling product from your shelf is anti-capitalism. It's denying the free market, and trying to set artificial prices (or no prices at all).

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭
    Let's see........the price is way down......so the demand is way up.........so they sell all they have, and can't sell any more.......
    .
    .
    .
    .
    YEP! DEFINITELY A CONSPIRACY!!!!!!!!!!!
    .
    .
    .
    .
    Join me on the grassy knoll for a beer!

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • dino2008dino2008 Posts: 341 ✭✭
    Better make it a twelve!image
  • ProofCollectionProofCollection Posts: 6,121 ✭✭✭✭✭


    << <i>You guys do realize they are free to do whatever they want with the coins they own, right? We are not a completely socialistic society just yet. If I knocked on your door and demanded you sell me your PMs at spot on any given day you would tell me to pound sand. APMEX has the same freedom, maybe not for long as everybody seems to like to tell other people what to do with their lawfully owned property.

    Do you also realize that the spot price is a representation of all the buyers and sellers in the marketplace? Crack an ECON 101 textbook and learn about supply and demand. If a vendor doesn't like the price he can just keep his goods off the market and in effect drive the price higher. If a buyer wants a good but doesn't like the price he can not buy and in effect drive the price down to a level more his liking. There are so many hypocrites in tho world who will violently defend their rights and trash the rights of others. >>



    I don't really see any complaints here, just observations and speculation.



    << <i>Actually, one could argue that pulling product from your shelf is anti-capitalism. It's denying the free market, and trying to set artificial prices (or no prices at all). >>



    I disagree. The only time it would be anti-captialism is if there was collusion among more than one retailer.
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭


    << <i>

    I disagree. The only time it would be anti-captialism is if there was collusion among more than one retailer. >>



    Just the simple act of not selling something on the open market is denying the market. That's the opposite of capitalism.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    APMEX has the silver eagles back up for sale as low as @ $2.49 over spot . APMEX
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • cohodkcohodk Posts: 19,108 ✭✭✭✭✭


    << <i>Actually, one could argue that pulling product from your shelf is anti-capitalism. It's denying the free market, and trying to set artificial prices (or no prices at all). >>



    I dont know if it is exactly denying a free market, but it certainly is market manipulation. But I thought that was only possible in the paper market.image

    It is my belief that those who wish to pay huge premiums for commodities are very likely to suffer loss or at the very least grossly diminished return. Most certainly lesser returns than with paper as has already been established in the last year. Volatility is what drive premiums. If silver prices stabilize and become rangebound, then physical holders who pay premiums will actually realize a loss as premiums diminish.

    Bottom line----There is no store of value in premiums.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • ProofCollectionProofCollection Posts: 6,121 ✭✭✭✭✭


    << <i>Just the simple act of not selling something on the open market is denying the market. That's the opposite of capitalism. >>



    In a free market, no one is forced to sell anything. I have an extra 1937-D 3 Legged buffalo nickel, but if I don't offer it for sale, am I denying the market? Who says how many I should own? If I'm a business and I think 3 legged buffalos are going to sky rocket next month, why can't I hide it in the back room until I'm ready to sell it without "denying the marketplace" and still be a capitalist?
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭


    << <i>

    << <i>Just the simple act of not selling something on the open market is denying the market. That's the opposite of capitalism. >>



    In a free market, no one is forced to sell anything. I have an extra 1937-D 3 Legged buffalo nickel, but if I don't offer it for sale, am I denying the market? Who says how many I should own? If I'm a business and I think 3 legged buffalos are going to sky rocket next month, why can't I hide it in the back room until I'm ready to sell it without "denying the marketplace" and still be a capitalist? >>



    I'm not saying you must sell below what you think the item is worth, or that you should necessarily have to sell at the "market price". I'm saying that by not offering something at all, at any price, is anti-capitalism.

    Again, Apmex could offer its eagles at Spot + $5 or spot + $6 if they need to be at $20 or more to break even or make a profit. And I believe they would actually have some buyers. But removing the items from the market altogether and not selling them at any price is anti-capitalism.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    Actually, one could argue that pulling product from your shelf is anti-capitalism. It's denying the free market, and trying to set artificial prices (or no prices at all).

    Either way, the ASEs aren't going to get sold at the price they require. There's no market if they don't want to sell at a loss, period. They made no promises to sell at below cost. Get a grip. Wanna sell me your silver at $6.00/oz? I'll buy it all.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    No one's obligated to keep selling something at a loss. They may lose credibility if they pull ASEs when the price tanks, but that's another issue.

    There are plenty of other types of silver they still selling at premiums even lower than the ASEs. So the argument that they pulled the ASEs because prices fell seems a little far-fetched.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>No one's obligated to keep selling something at a loss. They may lose credibility if they pull ASEs when the price tanks, but that's another issue.

    There are plenty of other types of silver they still selling at premiums even lower than the ASEs. So the argument that they pulled the ASEs because prices fell seems a little far-fetched. >>





    Most intelligent post in this thread by far.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Just checked and they are selling the ASEs again Link.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭
    This was posted on our dealer-to-dealer network by The Gold Center in Springfield, IL, one of the official silver eagle distributors:
    .
    "THE US MINT HAS INFORMED US THEY MAY BE CLOSED A FEW DAYS
    DUE TO THE WEATHER SYSTEM MOVING THROUGH THE EAST COAST.

    THEREFORE AMERICAN SILVER EAGLE
    ALLOCATIONS COULD BE LOWER OR SUSPENDED

    THE GOLD CENTER HAS TEMPORARILY STOPPED SALES OF 2010
    A.S.E. UNTIL FURTHER NOTICE FROM THE US MINT

    LETS HOPE FOR GREAT WEATHER!!!!! "
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭
    Had a lot of people buying PM's today.
    Had very few people selling PM's.
    Had people complain because we were out of certain products.
    Can you detect a pattern here??????

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>Had a lot of people buying PM's today.
    Had very few people selling PM's.
    Had people complain because we were out of certain products.
    Can you detect a pattern here??????

    TD >>



    Let me take a shot at it.......premiums will now rise?image
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