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Who are the "new" buyers of precious metals?

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  • TWQGTWQG Posts: 3,145 ✭✭
    My local B&M with whom I've had a 20 year relationship with told me they've been chocking on PM's since about March of this year.
    Buyers have all but dried up. I sold him some platinum a few months ago and he grumbled "i hate catching this falling knife".
  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭


    << <i>My local B&M with whom I've had a 20 year relationship with told me they've been chocking on PM's since about March of this year.
    Buyers have all but dried up. I sold him some platinum a few months ago and he grumbled "i hate catching this falling knife". >>



    I think sellers could unload a ton of PM's if they lowered their premiums to pre run up levels. I used to be able to buy silver eagles for spot +2 all day long before the run up. Now a good deal is spot +4. Doesn't make sense to me. Look at the prices on eBay. The premiums are out of hand in my opinion. I have bought 3 ounces of silver this year that I can remember and they were all 2014 silver eagles to give as gifts. Other than that, I refuse to pay a huge premium. I guess it has saved me from investing in something that is falling off a cliff. Maybe I should be thanking the sellers for keeping such an unreasonable premium.

    Tell your local B&M to sell those PM's on eBay with a reasonable premium and see how long they last image
  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭


    << <i>My local B&M with whom I've had a 20 year relationship with told me they've been chocking on PM's since about March of this year.
    Buyers have all but dried up. I sold him some platinum a few months ago and he grumbled "i hate catching this falling knife". >>



    I think sellers could unload a ton of PM's if they lowered their premiums to pre run up levels. I used to be able to buy silver eagles for spot +2 all day long before the run up. Now a good deal is spot +4. Doesn't make sense to me. Look at the prices on eBay. The premiums are out of hand in my opinion. I have bought 3 ounces of silver this year that I can remember and they were all 2014 silver eagles to give as gifts. Other than that, I refuse to pay a huge premium. I guess it has saved me from investing in something that is falling off a cliff. Maybe I should be thanking the sellers for keeping such an unreasonable premium.

    Tell your local B&M to sell those PM's on eBay with a reasonable premium and see how long they last image
  • TWQGTWQG Posts: 3,145 ✭✭


    << <i>

    << <i>My local B&M with whom I've had a 20 year relationship with told me they've been chocking on PM's since about March of this year.
    Buyers have all but dried up. I sold him some platinum a few months ago and he grumbled "i hate catching this falling knife". >>



    I think sellers could unload a ton of PM's if they lowered their premiums to pre run up levels. I used to be able to buy silver eagles for spot +2 all day long before the run up. Now a good deal is spot +4. Doesn't make sense to me. Look at the prices on eBay. The premiums are out of hand in my opinion. I have bought 3 ounces of silver this year that I can remember and they were all 2014 silver eagles to give as gifts. Other than that, I refuse to pay a huge premium. I guess it has saved me from investing in something that is falling off a cliff. Maybe I should be thanking the sellers for keeping such an unreasonable premium.

    Tell your local B&M to sell those PM's on eBay with a reasonable premium and see how long they last image >>



    You quoted my post but i didn't say anything about premiums on the sell side. This thread is about "new" buyers.
    Since you mentioned it, my dealer's ASE sell price is spot +$2 and that hasn't changed since 2011.

  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>My local B&M with whom I've had a 20 year relationship with told me they've been chocking on PM's since about March of this year.
    Buyers have all but dried up. I sold him some platinum a few months ago and he grumbled "i hate catching this falling knife". >>



    I think sellers could unload a ton of PM's if they lowered their premiums to pre run up levels. I used to be able to buy silver eagles for spot +2 all day long before the run up. Now a good deal is spot +4. Doesn't make sense to me. Look at the prices on eBay. The premiums are out of hand in my opinion. I have bought 3 ounces of silver this year that I can remember and they were all 2014 silver eagles to give as gifts. Other than that, I refuse to pay a huge premium. I guess it has saved me from investing in something that is falling off a cliff. Maybe I should be thanking the sellers for keeping such an unreasonable premium.

    Tell your local B&M to sell those PM's on eBay with a reasonable premium and see how long they last image >>



    You quoted my post but i didn't say anything about premiums on the sell side. This thread is about "new" buyers.
    Since you mentioned it, my dealer's ASE sell price is spot +$2 and that hasn't changed since 2011. >>



    Awesome! Why don't they put them on eBay and sell them then?
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>My local B&M with whom I've had a 20 year relationship with told me they've been chocking on PM's since about March of this year.
    Buyers have all but dried up. I sold him some platinum a few months ago and he grumbled "i hate catching this falling knife". >>



    I think sellers could unload a ton of PM's if they lowered their premiums to pre run up levels. I used to be able to buy silver eagles for spot +2 all day long before the run up. Now a good deal is spot +4. Doesn't make sense to me. Look at the prices on eBay. The premiums are out of hand in my opinion. I have bought 3 ounces of silver this year that I can remember and they were all 2014 silver eagles to give as gifts. Other than that, I refuse to pay a huge premium. I guess it has saved me from investing in something that is falling off a cliff. Maybe I should be thanking the sellers for keeping such an unreasonable premium.

    Tell your local B&M to sell those PM's on eBay with a reasonable premium and see how long they last image >>



    You quoted my post but i didn't say anything about premiums on the sell side. This thread is about "new" buyers.
    Since you mentioned it, my dealer's ASE sell price is spot +$2 and that hasn't changed since 2011. >>



    That's an exceptional low price for a dealer, considering that the Mint charges $2 above spot.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TWQGTWQG Posts: 3,145 ✭✭


    << <i>Awesome! Why don't they put them on eBay and sell them then? >>





    << <i>That's an exceptional low price for a dealer, considering that the Mint charges $2 above spot. >>

    image

    Where is Rawteam1 when you need him. This third generation business has never purchased anything from the mint.
    They're in the business of making money, not holding metal.

    So, who are the new buyers of precious metals?
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>My local B&M with whom I've had a 20 year relationship with told me they've been chocking on PM's since about March of this year.
    Buyers have all but dried up. I sold him some platinum a few months ago and he grumbled "i hate catching this falling knife". >>



    I think sellers could unload a ton of PM's if they lowered their premiums to pre run up levels. I used to be able to buy silver eagles for spot +2 all day long before the run up. Now a good deal is spot +4. Doesn't make sense to me. Look at the prices on eBay. The premiums are out of hand in my opinion. I have bought 3 ounces of silver this year that I can remember and they were all 2014 silver eagles to give as gifts. Other than that, I refuse to pay a huge premium. I guess it has saved me from investing in something that is falling off a cliff. Maybe I should be thanking the sellers for keeping such an unreasonable premium.

    Tell your local B&M to sell those PM's on eBay with a reasonable premium and see how long they last image >>



    You quoted my post but i didn't say anything about premiums on the sell side. This thread is about "new" buyers.
    Since you mentioned it, my dealer's ASE sell price is spot +$2 and that hasn't changed since 2011. >>



    That's an exceptional low price for a dealer, considering that the Mint charges $2 above spot. >>



    His local dealer is obviously not buying his ASEs from the bullion houses either. The only way to sell ASEs for $2 over spot is to buy them from suckers at $2 or lower below spot.
    theknowitalltroll;
  • jdimmickjdimmick Posts: 9,676 ✭✭✭✭✭
    After the price falls on silver over the past two years, buyers seem to have wanted to take of advantage of the price decline and jump back in. In fact the last run back to 20 after it hit like 18 even saw a few buyers start buying again. However, this time I just don't see buyers eager to buy at current levels ,I have herd many say its probably going to sell off more, or its just not doing anything now(sideways action), or they see little upside.

    i am in contact with show dealers, flea market dealers, local shop owners, my own customers and I am hearing the same thing.

    I might add: There are a lot of people around here (hoarders/collectors, etc) that are sitting in huge amounts of silver at 22-28 per oz. there are a few in the 30's, but I know of several who have like 500-1000 oz at these levels and anywhere from 2500 face to 5k face of 90% at those levels.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>After the price falls on silver over the past two years, buyers seem to have wanted to take of advantage of the price decline and jump back in. In fact the last run back to 20 after it hit like 18 even saw a few buyers start buying again. However, this time I just don't see buyers eager to buy at current levels ,I have herd many say its probably going to sell off more, or its just not doing anything now(sideways action), or they see little upside.

    i am in contact with show dealers, flea market dealers, local shop owners, my own customers and I am hearing the same thing.

    I might add: There are a lot of people around here (hoarders/collectors, etc) that are sitting in huge amounts of silver at 22-28 per oz. there are a few in the 30's, but I know of several who have like 500-1000 oz at these levels and anywhere from 2500 face to 5k face of 90% at those levels. >>



    As long as they don't HAVE to sell. Whether it makes sense to try to dollar cost average down when or if silver goes to $15 only they can decide.
    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>After the price falls on silver over the past two years, buyers seem to have wanted to take of advantage of the price decline and jump back in. In fact the last run back to 20 after it hit like 18 even saw a few buyers start buying again. However, this time I just don't see buyers eager to buy at current levels ,I have herd many say its probably going to sell off more, or its just not doing anything now(sideways action), or they see little upside.

    i am in contact with show dealers, flea market dealers, local shop owners, my own customers and I am hearing the same thing.

    I might add: There are a lot of people around here (hoarders/collectors, etc) that are sitting in huge amounts of silver at 22-28 per oz. there are a few in the 30's, but I know of several who have like 500-1000 oz at these levels and anywhere from 2500 face to 5k face of 90% at those levels. >>



    Maybe there are some buyers, but they're getting wiser and buying from the bullion houses instead of the higher premium B & Ms or whomever.
    theknowitalltroll;
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,293 ✭✭✭✭✭
    My brother asked me what a monster box was yesterday. I told him it's a coffin for terrorists.
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    I went to my favorite B&M yesterday to get a buff and some 1/10ths. Chatted about the situation. He said nobody is selling and traffic is way down. What traffic he has are buyers. His gold bullion inventory is down to where he is just selling what he can get from the mint (probably translates to say he is buried in this stuff). He has some numismatic gold but his bullion stock is low. Fortunately, he had what I was looking for. Traffic was so quiet that he was sorting through a coffee can full of Indian head cents pulling out the slicks. Whatever his strategy, it was 11:00 am and I was the only customer in the store. I've been there when metal was moving and the line was out the door. Interesting times since he has a staff of about 7 people and all God's children have to eat and I doubt my purchase fed many of them.

    We talked about the gold numismatic market a little and he said the rarer stuff is going through the roof and the regular collector stuff is just sitting and the prices on run of the mill numismatic gold is very soft. He had a case full of slabbed common saints and libs but no action. He suggested watching the auction houses to see if there might be some deals on harder to find pre '33 but he said that if anything good comes in the store that he has a list on his cell phone and it is out the door pretty quick which sounded like I'm not on the list.

    Oh well, interesting times indeed.

    That's the local news, we now return you to your regularly scheduled programming.
  • gripgrip Posts: 9,962 ✭✭✭✭✭


    << <i>My brother asked me what a monster box was yesterday. I told him it's a coffin for terrorists. >>



    I'm slow image ?
  • PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭


    << <i>

    << <i>My brother asked me what a monster box was yesterday. I told him it's a coffin for terrorists. >>



    I'm slow image ? >>



    Monster box is the slang name for the large sealed plastic boxes of ASE's as they come from the mint. They contain 25 tubes of 20 ASE's each for a total of 500 ASE's.

    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

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    image
    theknowitalltroll;
  • cohodkcohodk Posts: 19,124 ✭✭✭✭✭
    My dealer buddy reports that it is slow on both sides of the counter.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • LukeMarshallLukeMarshall Posts: 1,982 ✭✭✭✭✭


    << <i>

    << <i>My brother asked me what a monster box was yesterday. I told him it's a coffin for terrorists. >>



    I'm slow image ? >>



    I believe he is referring to the Silver / Tomahawk missle analogy...

    It's all about what the people want...

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,293 ✭✭✭✭✭


    << <i>image >>



    I like those sleek rounded corners.
    And all those Eagles in flight… To answer the question : where are the new buyers ?



    Just around the corner.

  • gripgrip Posts: 9,962 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>My brother asked me what a monster box was yesterday. I told him it's a coffin for terrorists. >>



    I'm slow image ? >>



    Monster box is the slang name for the large sealed plastic boxes of ASE's as they come from the mint. They contain 25 tubes of 20 ASE's each for a total of 500 ASE's. >>



    Got it.image
  • VanHalenVanHalen Posts: 3,991 ✭✭✭✭✭
    I've never bought a monster and have not seen one in person either. What are the exterior dimensions LxWxH of these boxes?

    image
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭

    A monster box is about the size and shape of a large shoebox?

    Another blast from the past

    Liberty: Parent of Science & Industry

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    edited October 6, 2018 6:43PM

    PMs will not get the attention of new buyers until their rising price makes the headlines.

    At this point many of the new buyers will be the old sellers.

    "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

  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    edited October 6, 2018 4:21PM

    @derryb said:
    PMs will not get the attention of new buyers until their rising price makes the headlines.

    I usually shake my head in disbelieve over most of your posts and it's not often that I've agreed with you in the past. However, this time you hit the nail on the head.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    @OPA said:

    @derryb said:
    PMs will not get the attention of new buyers until their rising price makes the headlines.

    I usually shake my head in disbelieve over most of your posts and it's not often that I've agreed with you in the past. However, this time you hit the nail on the head.

    Time will make you more agreeable.

    "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

  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    @VanHalen said:
    I've never bought a monster and have not seen one in person either. What are the exterior dimensions LxWxH of these boxes?

    14.75" x 8.5" x 4.5"

    "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

  • cohodkcohodk Posts: 19,124 ✭✭✭✭✭

    @derryb said:

    @OPA said:

    @derryb said:
    PMs will not get the attention of new buyers until their rising price makes the headlines.

    I usually shake my head in disbelieve over most of your posts and it's not often that I've agreed with you in the past. However, this time you hit the nail on the head.

    Time will make you more agreeable.

    Yes, eventually PMs will rise, but it won't be due to any of the lies you perpetuate.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭

    @cohodk said:

    @derryb said:

    @OPA said:

    @derryb said:
    PMs will not get the attention of new buyers until their rising price makes the headlines.

    I usually shake my head in disbelieve over most of your posts and it's not often that I've agreed with you in the past. However, this time you hit the nail on the head.

    Time will make you more agreeable.

    Yes, eventually PMs will rise, but it won't be due to any of the lies you perpetuate.

    Can you give us a few examples of those lies?

    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

  • cohodkcohodk Posts: 19,124 ✭✭✭✭✭

    @PerryHall said:

    @cohodk said:

    @derryb said:

    @OPA said:

    @derryb said:
    PMs will not get the attention of new buyers until their rising price makes the headlines.

    I usually shake my head in disbelieve over most of your posts and it's not often that I've agreed with you in the past. However, this time you hit the nail on the head.

    Time will make you more agreeable.

    Yes, eventually PMs will rise, but it won't be due to any of the lies you perpetuate.

    Can you give us a few examples of those lies?

    https://forums.collectors.com/categories/precious-metals

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    @cohodk said:

    @derryb said:

    @OPA said:

    @derryb said:
    PMs will not get the attention of new buyers until their rising price makes the headlines.

    I usually shake my head in disbelieve over most of your posts and it's not often that I've agreed with you in the past. However, this time you hit the nail on the head.

    Time will make you more agreeable.

    Yes, eventually PMs will rise, but it won't be due to any of the lies you perpetuate.

    "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

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    edited October 7, 2018 3:58PM

    @derryb said:

    @cohodk said:

    @derryb said:

    @OPA said:

    @derryb said:
    PMs will not get the attention of new buyers until their rising price makes the headlines.

    I usually shake my head in disbelieve over most of your posts and it's not often that I've agreed with you in the past. However, this time you hit the nail on the head.

    Time will make you more agreeable.

    Yes, eventually PMs will rise, but it won't be due to any of the lies you perpetuate.

    PMs rise because there is a growing lack of confidence in the currency in which they are priced. I will continue to perpetuate this fact until you see it proven with your currency as it has been proven to countless foreigners with a pocketful of failing currency.

    Confidence is based on perception. Perception is often based on what someone wants you to believe. My perpetuations are lies only to those who blindly believe the opposing "truth." Some are perfectly happy with the temporary comfort provided by a "false truth," others are not. Live and let live.

    "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

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,293 ✭✭✭✭✭

    Dips for dipping. Wading , swimming, splashing.

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