OMG-The GREED of some businesses in the Metals arena is disgusting
piecesofme
Posts: 6,669 ✭✭✭
I would rather they (A***X) not even replied to my inquiry about what they are paying for old pour 5 oz Engelhards. They have them listed for $450/bar on their site. Take a wild guess what they're willing to pay...$140/bar. I completely understand everyone needs to grab a buck or two, but a 320% mark up???
It never ceases to amaze me the gall some businesses have.
The only good thing I'm taking from this is that it is proving to me more & more that silver is just silver as some have said here many times. Sure it's nice owning some less common silver, but when it comes times to sell, one has to realize there's such a small market for them. If I am able to, I am geting out of all my "collectible" stuff and re-uping with merry christmas rounds.
It never ceases to amaze me the gall some businesses have.
The only good thing I'm taking from this is that it is proving to me more & more that silver is just silver as some have said here many times. Sure it's nice owning some less common silver, but when it comes times to sell, one has to realize there's such a small market for them. If I am able to, I am geting out of all my "collectible" stuff and re-uping with merry christmas rounds.
To forgive is to free a prisoner, and to discover that prisoner was you.
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At current metal prices, I think selling the higher premium stuff and replacing it with low premium generic metal is a good play. I am considering doing the same with a few pieces. Once summer is over, I think I'll list a few collector bullion pieces on ebay at 99c with no reserve. Including my 5 oz gold Engelhard poured bar which should fetch a very nice price. Then flip the profits into generic gold or silver.
<< <i>I would rather they (A***X) not even replied to my inquiry about what they are paying for old pour 5 oz Engelhards. They have them listed for $450/bar on their site. Take a wild guess what they're willing to pay...$140/bar. I completely understand everyone needs to grab a buck or two, but a 320% mark up???
It never ceases to amaze me the gall some businesses have.
The only good thing I'm taking from this is that it is proving to me more & more that silver is just silver as some have said here many times. Sure it's nice owning some less common silver, but when it comes times to sell, one has to realize there's such a small market for them. If I am able to, I am geting out of all my "collectible" stuff and re-uping with merry christmas rounds. >>
That's $8 per ounce over melt which is a lot more than most coin dealers will pay. You can try eBay but that's a crap shoot with all of the eBay and PayPal fees.
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 have no particular comment on A***x. It's free market capitalism at work, which is always something that I support. I can ask $500 for a 1/10th oz AGE if I want to, but that doesn't mean anyone will buy it (unless it's a really, really, really good one).
I knew it would happen.
I had (and still have a few) pieces that paid well over what I can get now.
Some have been sold at a loss while I am very happy to keep some in my personal collection.
From now on, I will be purchasing just the right ones. The investment/flipping side of my collection will be made by common bullion Govt. coins (not even bars or rounds).
JMHO
Just think, when they have some in stock some poor soul must have been overjoyed thinking they were killin' it by getting $8 over spot.
Too many positive BST transactions with too many members to list.
"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
POM eBay store
Someone will buy that one at 333.00 and put it on the bay for 500.00 anyway.
Can we sticky this thread?
Really? LMAO...I'm asking what the market is bringing. But idiot people have it in their head that they will only bid on auctions if it is started at .99, even if the ending value ends up being more than what I'm asking LOL. That is what I find to be hypocritcal,,,paying MORE for something just because it was offered in an auction format. Maybe not hypocritcal, but dumb and stubborn certainly.
Why would you pay more, or be willing to do so, just because it started at .99? I can't even relate to that kind of thinking.
You should've bought all 50 gsa, that was a nice opportunity for you at $4 over even if they were cast ones.
<< <i>Were they old pours or cast? Huge difference. A***X wants $450 for poured and $200 for the cast ones. The cast ones still go for about $165 on eBay, after fees $150 or so.
You should've bought all 50 gsa, that was a nice opportunity for you at $4 over even if they were cast ones. >>
Aren't cast bars and poured bars the same? The cheaper bars are the struck bars.
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
This is what I called cast, you may call it struck.
I call this cast
I call this poured.
I call this poured...my bars are this variety
I find it hliarious that they've dropped their price $50/bar since I talked to them today. Maybe my conversation made them realize how out of the park they were.
<< <i>My terminology could be wrong PerryHall.
This is what I called cast, you may call it struck.
I call this cast
I call this poured.
I call this poured...my bars are this variety
I find it hliarious that they've dropped their price $50/bar since I talked to them today. Maybe my conversation made them realize how out of the park they were. >>
I believe the use of cast is one and the same as poured. The 1st example is considered struck/pressed/minted (use of dies) etc
Knowledge is the enemy of fear
No, you forgot paying the original (initial) $140 they're offering.
$140 X 325% = $455...what they were asking before I enlightend them. You can "math" it all you want, but the end (paying) result will remain the same bud.
To your point, yes they could offer more and/or yes they could ask less. But if thats the market then thats the market.
Knowledge is the enemy of fear
<< <i>
<< <i>My terminology could be wrong PerryHall.
This is what I called cast, you may call it struck.
I call this cast
I call this poured.
I call this poured...my bars are this variety
I find it hliarious that they've dropped their price $50/bar since I talked to them today. Maybe my conversation made them realize how out of the park they were. >>
I believe the use of cast is one and the same as poured. The 1st example is considered struck/pressed/minted (use of dies) etc >>
I think the pouring of molten silver into a mold is part of the casting process---hence, poured and cast would be the same to me. The later Engelhard bars are either struck or extruded.
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
Pillow or pressed 5 oz Engelhards I price as bullion with little collector interest.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
"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
hard2dealwhentheytake12percent
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>buy low, sell high: the old buyer vs. seller conflict. I'm a firm believer in letting the market set the price. Buyers and sellers are the market. >>