Boredom is high
piecesofme
Posts: 6,669 ✭✭✭
I want to buy some silver (the kind and the part of what I do to keep), but there just isn't anything that interests me as of late. What is being offered that does raise an eyebrow, people want what it was going for when silver was in the mid to high $30's.
Is this because of a relatively prolonged stagnant market, sellers just wont bring themself to the fact that those days have passed? ReallY? Offering common silver eagles for $39, common Engelhard bars for Spot + $15...really?
Anyone else suffering from this terrible boredom affliction?
Is this because of a relatively prolonged stagnant market, sellers just wont bring themself to the fact that those days have passed? ReallY? Offering common silver eagles for $39, common Engelhard bars for Spot + $15...really?
Anyone else suffering from this terrible boredom affliction?
To forgive is to free a prisoner, and to discover that prisoner was you.
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Liberty: Parent of Science & Industry
I can hardly ever tell when you're being serious LOL, if you're being serious, I agree.
"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>I'm hoping the lull gets so bad that ebay brings back Mr. Rebates. >>
What he said...
<< <i>I'm hoping the lull gets so bad that ebay brings back Mr. Rebates
those were the days..if you pressed all the right levers you could get %15 off all day long.......
Loves me some shiny!
BTW: Cubby=Cub Fan
<< <i>Yes, I am bored now... >>
Judging by your avatar that won't last long.
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
<< <i>I'm finding 90% and morgans/peace rather fascinating moreso than bullion right now! >>
That is because they are. Back when silver was 12-18 I purchased many PCGS/ANACS/NGC/ICG slabs and they seem to have more character than the boring eagles I have been getting as of late.
Modern bullion is souless .
I agree, but I think it's because there's no real quality bullion being offered, and when it is sellers are suffering from wild imagination syndrome.
I started gathering AU/UNC Morgans at the beginning f the year and I think that's what I'm going to continue to just keep adding to the pile, unless of course a 5 T.oz Engelhard becomes available
<< <i>
<< <i>I'm hoping the lull gets so bad that ebay brings back Mr. Rebates. >>
What he said... >>
...or at least Ebay bucks.
If EBay's fees were not so high the 1 oz sellers are getting 27 for 1 oz standing liberty quarter replicas from GSM?????27 with silver at 21.50 ish............. I would jump back in to selling there but refuse to pay 10 plus percent plus to sell a 30 dollar item.
Tom
Generally the best time to buy is when people are selling, but if asking prices are carrying 50% premiums then it is obvious no one is selling which could mean we are still in the denial stage. Ugh.
Knowledge is the enemy of fear
Apathy and denial are stages of the psychological cycle of investing. Fortunately apathy occurs before the next move higher in prices. Unfortunately this period can last a decade or more.
Generally the best time to buy is when people are selling, but if asking prices are carrying 50% premiums then it is obvious no one is selling which could mean we are still in the denial stage. Ugh.
I've been buying for my collection and selling some extras & some unwanted speculations. Some of the stuff I'm selling has a reasonable market, some doesn't. It is what it is. Some of the Plats I've bought recently were reasonable buys, but many are listed in the stratosphere with prices that ain't gonna happen.
It's the kind of market that you don't want to sit around waiting for something to happen, because it may be awhile before it does. Once you dip your toe in the water, you realize that the market's still alive.
I knew it would happen.
Kind of like the stock market. A raging bull floats all stocks (junk silver), while the subsequent decline and consolidation separates the good stocks (ASE's, Maple Leafs), from the junk (generic rounds).
Knowledge is the enemy of fear
<< <i>It's the kind of market that you don't want to sit around waiting for something to happen, because it may be awhile before it does. >>
Some times you gotta make it happen. Made it happen recently, negotiated an ebay item at 20% less than seller's auction start price. While his start price was reasonable, I saved over $500 and he got the quick payment he was looking for.
"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
Liberty: Parent of Science & Industry
What to do? I'm comfortable buying a little right now as it's between hi low water marks with much more potential to go higher than lower if you look around at all. I've seen the day when 60 bucks would buy a roll of eagles, I'm sure we'll see the day when we wish we could still buy an oz for a twenty dollar bill.
For what it's worth...
"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>many of the high premiums have to do with sellers being underwater with their 2012-2014 purchases for resale. >>
Yes and it's funny they want others to pay for their mistakes...
Famous lines... I'm in no hurry to sell... That's what I paid for it so that what I'm sellin it for... Lol...
Every now and then someone posts a cool bar like that 12 t .oz gold Engelhard bar, but that's not something I'd remotely be interested in purchasing. It's cool to look at, as long as someone else paid for it. Too much to put into 1 thing, but that's me.
I wish someone would offer something, something worth even considering. Local dealers have nothing but garbage modern bullion to offer. There's been a decline even on eBay for better bars.
As one of my buddies here said, maybe if silver tanks to $10 that will release the death grip folks have on the over priced silver they bought in the last few years and they'll accept their loss at that point because right now the approach is "it's not a loss until it's sold."
Knowledge is the enemy of fear
<< <i>Boredom rages on.
Every now and then someone posts a cool bar like that 12 t .oz gold Engelhard bar, but that's not something I'd remotely be interested in purchasing. It's cool to look at, as long as someone else paid for it. Too much to put into 1 thing, but that's me.
I wish someone would offer something, something worth even considering. Local dealers have nothing but garbage modern bullion to offer. There's been a decline even on eBay for better bars.
As one of my buddies here said, maybe if silver tanks to $10 that will release the death grip folks have on the over priced silver they bought in the last few years and they'll accept their loss at that point because right now the approach is "it's not a loss until it's sold." >>
That 12 tr. oz. bar was the coolest thing on here for a while. I wonder why that size never caught on in America?
<< <i>Boredom rages on.
Every now and then someone posts a cool bar like that 12 t .oz gold Engelhard bar, but that's not something I'd remotely be interested in purchasing. It's cool to look at, as long as someone else paid for it. Too much to put into 1 thing, but that's me.
I wish someone would offer something, something worth even considering. Local dealers have nothing but garbage modern bullion to offer. There's been a decline even on eBay for better bars.
As one of my buddies here said, maybe if silver tanks to $10 that will release the death grip folks have on the over priced silver they bought in the last few years and they'll accept their loss at that point because right now the approach is "it's not a loss until it's sold." >>
Be careful what you wish for , it may come true
I saw a guy trying to sell some 1/2 oz. gold AGE's and rolls of ASE's at a we buy gold shop the other day who will probably kill himself if silver if silver hits $10. He wanted the owner to pay him what APMEX sells the stuff for.
After he left the owner said a year ago the guy brought in 8 1000 ounce bars of silver and refused to sell at $22 because he had bought them at $40
I got that old "I mortgaged my house to buy PM's and its all gone horribly wrong " vibe from him.
How funny you say that. Just the other day at one of the local places I frequent, there's a guy in there bragging about he bought all of his metal 35 years ago. I asked if he cashed out when it peaked in 2011. He looked at me like I was the one that was nuts and said, no and that everything he owns will be going to his kids.
What do most kids who inherit their parents "stacks" do? They can't get to the pawn shop quick enough and get 30% of the value if their lucky, rather than the 1000% they could've gotten if the old man cashed in at the right time, or even close to the right time.
What a guy, really thinking (shortchanging) his kids lol
Then he should sell to APMEX for the slightly discounted rate they will buy from him rather than what a 'we buy gold" store will pay.
Sometimes it's very humbling to just admit that you might be wrong in the hope of what you bought is "going to the moon" if you're in the position of having to sell. Sell and learn from the lesson and move on. My old man use to call that "paying your tuition" in whatever it was being dealt with.
<< <i>I saw a guy trying to sell some 1/2 oz. gold AGE's and rolls of ASE's at a we buy gold shop the other day who will probably kill himself if silver if silver hits $10. He wanted the owner to pay him what APMEX sells the stuff for
Then he should sell to APMEX for the slightly discounted rate they will buy from him rather than what a 'we buy gold" store will pay.
Sometimes it's very humbling to just admit that you might be wrong in the hope of what you bought is "going to the moon" if you're in the position of having to sell. Sell and learn from the lesson and move on. My old man use to call that "paying your tuition" in whatever it was being dealt with. >>
It was kind of nice to see a true PM nutjob in the flesh though. It improved my opinion of myself immensely
I may not be the sharpest tool in the PM shed but I'm not the dullest either. I missed selling at the absolute high but at least I didn't go all in at the high with borrowed money .
I've seen cases where folks bought PM's with borrowed money and did well , but it doesn't seem compatible with a buy and hold forever strategy .
Unless you fake your own death at some point and walk away with the metal for free. Then it could work .
these sellers are unaware and out of touch with reality, some engelhard gold sold for decent buy, imo to much of a premium as really over 2 oz bars should have very little premium 3% or less(5,10 + bars), even the presumed rarer gold bars...
you might see stragler uneducated buyers for some stuff as i think i saw in very few items, that pay way more than they should, mostly in engelhard fractional silver, & 5,10,20 oz bars...
when the worm turns premies may stay the same or increase most likely if a more sustained rally like over $30, $1450
<< <i>Then he should sell to APMEX for the slightly discounted rate they will buy from him rather than what a 'we buy gold" store will pay. >>
Agreed. I see this all the time. People want the convenience of selling quickly, in person, for cash, but they also want the highest price for their items. Usually based on what some price guide (re: coins) says something is worth. Can't have your cake and eat it too!
I knew it would happen.
"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>As I've heard and witnessed, the original purchasers of silver rarely sell. >>
I don't see a wink after your comment, but if you truly believe that bs, well, I've got a bridge in Brooklyn that I need to get rid off.
<< <i>
<< <i>Boredom rages on.
Every now and then someone posts a cool bar like that 12 t .oz gold Engelhard bar, but that's not something I'd remotely be interested in purchasing. It's cool to look at, as long as someone else paid for it. Too much to put into 1 thing, but that's me.
I wish someone would offer something, something worth even considering. Local dealers have nothing but garbage modern bullion to offer. There's been a decline even on eBay for better bars.
As one of my buddies here said, maybe if silver tanks to $10 that will release the death grip folks have on the over priced silver they bought in the last few years and they'll accept their loss at that point because right now the approach is "it's not a loss until it's sold." >>
I saw a guy trying to sell some 1/2 oz. gold AGE's and rolls of ASE's at a we buy gold shop the other day who will probably kill himself if silver if silver hits $10. He wanted the owner to pay him what APMEX sells the stuff for.
>>
How many dealers do you suppose routinely buy ASEs from APMEX and other bullion houses for inventory? Do they pay the same price that I would pay if I was ordering from APMEX at the same time? I have heard that dealers can get special pricing from those places, but not sure what kind of volume that would take or even if it's true.
<< <i>
<< <i>As I've heard and witnessed, the original purchasers of silver rarely sell. >>
I don't see a wink after your comment, but if you truly believe that bs, well, I've got a bridge in Brooklyn that I need to get rid off.
I tend to agree that a large percentage of precious metal hoarders never sell very much of it, and end up dying with it.
That's how many coin shops, pawn shops, hotel-room traveling operations, and "we buy gold" places stay in business: buying from the inheritors
Liberty: Parent of Science & Industry
<< <i>I was contacted by a fellow last week who was wanting to sell 7 rolls of SAE's to me for $700 a roll. Because that's what he'd paid in 2012. >>
Your being too nice with the word fellow...
<< <i>The world Cup is coming I am NOT bored... >>