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All the big bullion sellers like tulving, apmex, goldline ;) etc....they're taking DOLLARS, right?

DNADaveDNADave Posts: 7,271 ✭✭✭✭✭
in Precious Metals
I was trying to convince my dad that PM's are better than dollars right now. He asked me why then, is Goldline selling gold for Dollars?
He's J6P if there ever was one.

There are still HUGE numbers of people out there that have no interest at all in PM's.

Comments

  • MMRMMR Posts: 372
    These people will starve...
    My eBay auctions - nothing now
  • DNADaveDNADave Posts: 7,271 ✭✭✭✭✭


    << <i>These people will starve... >>



    Well, maybe.
    But don't underestimate good ol' West Virginia boys.

  • derrybderryb Posts: 36,795 ✭✭✭✭✭
    Their willingness to take dollars weakens as they ask for more dollars per ounce.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Big gold dealers sell gold for dollars so that they go right back out and buy more gold for dollars....but at a cheaper price. They have the same amount of gold and silver but also a lot more net profit to either take home as profit to buy things or to plow back into the business. Win-Win.

    When the day comes that they can't go right back out and buy more gold with that money at a better price, they will jack the asking price high enough so that they can buy more. If still not achievable, they won't have a business anymore and will retire on whatever stock they have at the time.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>I was trying to convince my dad that PM's are better than dollars right now. He asked me why then, is Goldline selling gold for Dollars?
    He's J6P if there ever was one.

    There are still HUGE numbers of people out there that have no interest at all in PM's. >>



    Why should that surprise you? "PM Prophets," like us, are a small minority of the overall population. Most J6P have never seen nor heard of an ASE or AGE and probably would not spend so called "good money" to buy one.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • RedTigerRedTiger Posts: 5,608 ✭
    Trying to convince people, especially relatives isn't the best idea. If asked go ahead and present the case, otherwise giving financial advice is a no-win proposition. Most people don't take the advice, and if they do, they won't give you credit. If it goes bad, they will never forget and you will owe them (in their minds anyway).

    In any case, it is ten years into a bull market. There might well be another ten years of up, but metals are no longer a ground floor opportunity.
    Investment blog: gold, stocks and more
  • rpwrpw Posts: 235 ✭✭
    The trick is not to think of them as taking dollars for gold, rather think of it as taking Federal Reserve Units for gold. Then it becomes a no brainer.
    imageimage Small Size National Bank Note Type Set $5-$100
  • BuffalodeBuffalode Posts: 339
    Some people will just never see gold or silver as anything but a risk compared to the nice "safe" dollars in the bank earning interest that doesn't even keep pace with inflation. A friend of mine is getting ready to close a sale on a house she owns. I suggested to her that she give some thought to investing 5-10% or so of her proceeds in gold and silver and she looked at me like I was insane. She actually plans to put the money into a regular savings account at a bank "to be safe" as she put it. In her case, I don't think it would make much difference if she won the lottery tomorrow, she would still not buy gold or silver. Going by some of the other reactions I have gotten from people, I think she might be typical of a lot of people in the US who will always consider gold and silver to be too risky. In her case, she is well aware of how gold and silver have been doing but it makes no difference.
    Bob

  • jmski52jmski52 Posts: 22,825 ✭✭✭✭✭
    She actually plans to put the money into a regular savings account at a bank "to be safe" as she put it.

    Have her kick back one evening for a viewing of "Gone With the Wind". Then talk to her about "safe". Maybe she could identify with Scarlet.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • SmallTownCoinsSmallTownCoins Posts: 688 ✭✭
    I had to google "J6P".... I must be getting old... Haaaaa
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  • BuffalodeBuffalode Posts: 339


    << <i>She actually plans to put the money into a regular savings account at a bank "to be safe" as she put it.

    Have her kick back one evening for a viewing of "Gone With the Wind". Then talk to her about "safe". Maybe she could identify with Scarlet. >>



    Might be a good idea. I don't think it is a bad idea to put some of it into an account that gives ready access, but it seems like she is so afraid of a loss that she just won't take any risk with any of it. Or I should say, anything she sees as a risk. I think this attitude is maybe more common that some of us here (me at least until recently) realize since we seem to be more risk tolerant than average.
    Bob

  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    I walk away from anyone who says those kinds of things. Life's too short.

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • PerryHallPerryHall Posts: 46,119 ✭✭✭✭✭


    << <i>I had to google "J6P".... I must be getting old... Haaaaa >>



    Don't worry. You weren't the only one.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

  • pf70collectorpf70collector Posts: 6,645 ✭✭✭
    I always warn my brother about the upcoming upheval but never tell him what to do as far as PMs. I think I am the only one of my immediate family as well as all my relatives that holds any substantial physical holdings in PMs. Most people I know, including my work colleagues, are oblivious to what is going on right now with the Fed and the dollar destruction.
    Montana State Quarter Die Clash

    Box of 20
  • BuffalodeBuffalode Posts: 339


    << <i>I always warn my brother about the upcoming upheval but never tell him what to do as far as PMs. I think I am the only one of my immediate family as well as all my relatives that holds any substantial physical holdings in PMs. Most people I know, including my work colleagues, are oblivious to what is going on right now with the Fed and the dollar destruction. >>



    Pretty much the same thing I see. Most really don't even want to hear about it. My brother did start buying gold last year and just told me 2 weeks ago he was buying $5k in silver. I will tell people my opinions as I did my brother, but people have to make their own decisions. I just don't have a lot of confidence in the Fed, especially with the recent talk about intentionally trying to overshoot their inflation target. It seems to me they have little understanding of all of the reults of what they do, and also not much in the way of fine control or the ability to cause rapid changes. It also seems to me that what the Fed will likely do contradicts the recent statements by Geithner regarding dollar valuation. In my opinion, both the Fed and the government want a lower relative dollar value regardless of any rhetoric to the contrary.

    Edited to add after thinking about it , maybe some of it is not so much not understanding on the part of the Fed as not wanting to state things in a certain way as far as what their goals are.
    Bob

  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    Most people trust the government and assume it will always be like it is today, able to spend whatever it takes to keep everyone happy.
  • EagleEyeEagleEye Posts: 7,677 ✭✭✭✭✭
    Seems pretty simple to me.

    A dealer makes money in the conversion - dollars to gold to dollars, etc.

    Back in the 1850's they had coin brokers who would exchange foreign coin that circulated side-by-side with US coins. They made a tidy profit taking whatever people wanted to exchange for gold or silver. Actually, in the 1850's silver became overvalued because of the gold rush.

    The simple answer is "That's business"
    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭
    Heck . . . Most folks can't discern between a clad quarter from a silver one . . . and don't care to.

    Most of the younger set doesn't even know that there was ever silver in our coinage . . . and don't really care ! ! !

    HH
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
    1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
    Any help locating any of these OBW rolls would be gratefully appreciated!
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>I had to google "J6P".... I must be getting old... Haaaaa >>




    Ha ha ha, in old country j6p is named V6V (Vlad six vodkas.)
    Ha ha ha, renski made funny...but is true. Prost!

    Comrade Renski
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