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I passed on fractionals at spot today - bad mistake?

tydyetydye Posts: 3,894 ✭✭✭
in Precious Metals
My dealer had a boatload of gold come in today including fractionals. I passed. Now I am second guessing myself. I bought at 1600 and 1746 the previous weeks

Comments

  • derrybderryb Posts: 37,593 ✭✭✭✭✭
    If modern eagles a very good bullion price, easy resell down the road. You're not going to beat it anywhere else (unless spot goes down).

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • agentjim007agentjim007 Posts: 6,256 ✭
    ask tomorrow
  • PerryHallPerryHall Posts: 46,785 ✭✭✭✭✭
    It was a bad mistake only if gold prices increase next week. If gold prices drop, you did the right thing.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

  • tydyetydye Posts: 3,894 ✭✭✭
    They were mostly 1/10 eagles
  • derrybderryb Posts: 37,593 ✭✭✭✭✭


    << <i>They were mostly 1/10 eagles >>


    even better, tenth ouncers carry the highest premium over spot. Hope gold doesn't go up tonight and be there when he opens the door Monday. Don't be too eager or he might raise the price. If gold goes down tonight I'd consider it a good buying dip, you'll get them cheaper. In the long run not getting them, IMHO, would be a mistake - especially if you have the money just sitting there in dollars.

    image

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • tydyetydye Posts: 3,894 ✭✭✭
    You guys convinced - not that I needed much convincing. I just texted to save me 20 of them. I figure even with a 5% hit I will still be OK with the premium
  • derrybderryb Posts: 37,593 ✭✭✭✭✭


    << <i>You guys convinced - not that I needed much convincing. l I just texted to save me 20 of them. I figure even with a 5% hit I will still be OK with the premium >>


    Good job. APMEX is currently asking $37 over spot plus shipping for the tenthers. Check these mintages and make a wish list of the lower mintage years:

    AGE mintages

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • morgantypemorgantype Posts: 456


    << <i>You guys convinced - not that I needed much convincing. I just texted to save me 20 of them. I figure even with a 5% hit I will still be OK with the premium >>



    Good move. These are a buy all day long at melt! Congrats on a good find.
    Many buy and sell transactions. Let's talk!
  • tydyetydye Posts: 3,894 ✭✭✭
    Thanks for the mintages. Now I know why I have so many 1999 1/10 eagles
  • derrybderryb Posts: 37,593 ✭✭✭✭✭


    << <i>Thanks for the mintages. Now I know why I have so many 1999 1/10 eagles >>


    99s were overproduced in prep for the year 2k scare. Lot of ebay sellers list them as rare. image

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • jmski52jmski52 Posts: 23,209 ✭✭✭✭✭
    1/10th ozers at spot is a good deal.

    The only other consideration is whether or not your budget is in the "ready to buy" status.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    Even if gold takes a whack, I think the current premium will still save you.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Even if gold takes a whack, I think the current premium will still save you
    image being that they are 1/10 oz'ers. If they were 1 oz'ers, you might feel more of a stinger.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • PokermandudePokermandude Posts: 2,713 ✭✭✭


    << <i>1/10th ozers at spot is a good deal.

    The only other consideration is whether or not your budget is in the "ready to buy" status. >>



    Definitely this. As much as I hate to say it, you don't want to spread your cash reserves too thin. You never want to be in a position where you might HAVE to sell PMs a short time after purchasing due to a lack of liquid cash.

    1/10ths at spot are definitely a near-steal.
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • GRANDAMGRANDAM Posts: 8,729 ✭✭✭✭✭
    Gold is up $18.50 on India spot market at the Sunday PM open so you did good!

    GrandAm :)
  • BigRickBigRick Posts: 1,334
    It was a mistake if you were able to fully hedge your purchase regardless of where gold goes.
    My Sets
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    i'm seeing $1870.40. ATM

    if you have available funds it would be a good addition to your stack. especially if you buy every week or month regardless of price.

  • PreTurbPreTurb Posts: 1,194 ✭✭✭
    I love fracs at spot!!!!!
  • nibannynibanny Posts: 2,761 ✭


    << <i>Even if gold takes a whack, I think the current premium will still save you.

    roadrunner >>



    I agree, buying them at melt gives you a nice margin in case of a drop.
    They were selling in the $180 range when gold was $1500/1600.

    image
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • storm888storm888 Posts: 11,701 ✭✭✭

    Buy.






    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • JulioJulio Posts: 2,501 ✭
    As the thread from a few days back "are you selling at these prices" there was a fair amount of people selling. Thinking gold would correct in the next XXX weeks, months allowing them to buy back in at a cheaper price and make a profit. I have seen nothing yet that proves them wrong. We just have to wait and see until XXX gets here. I wish them luck as long as Gold goes back up and beyond. I don't think Gold will correct enough to make a profit. Only time will tell. jws
    image
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