I passed on fractionals at spot today - bad mistake?
tydye
Posts: 3,894 ✭✭✭
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
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"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
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
<< <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.
"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
<< <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
"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
<< <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.
<< <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.
"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
The only other consideration is whether or not your budget is in the "ready to buy" status.
I knew it would happen.
roadrunner
<< <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.
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.
<< <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.
Buy.