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This is not a good sign for gold

TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
in Precious Metals
APMEX dumping gold bars at spot

Gotta get rid of them before gold drops below $1,000 oz.

Comments

  • ebaytraderebaytrader Posts: 3,312 ✭✭✭
    It's the end of the quarter. feepay PAYS the big fat bullion sellers from the fees we pay to dump gold to prop up their numbers. It happens every 90 days.
  • derrybderryb Posts: 36,824 ✭✭✭✭✭
    I wouldn't have one of those at below spot.

    "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: 19,129 ✭✭✭✭✭


    << <i>I wouldn't have one of those at below spot. >>



    Why, what's wrong with it. Serious question.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,824 ✭✭✭✭✭
    doesn't rank up there on my list of "ease of resell."

    This is something a stacker should always consider when making a purchase.

    "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: 19,129 ✭✭✭✭✭
    What is the difficulty in selling it?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>What is the difficulty in selling it? >>


    Anything can sell, at the right price. I prefer that the products in my holdings bring the best premiums.

    Look at APMEX's current premium on these. Nuff said.

    "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 ✭✭✭✭✭


    << <i>

    << <i>What is the difficulty in selling it? >>


    Anything can sell, at the right price. I prefer that the products in my holdings bring the best premiums.

    Look at APMEX's current premium on these. Nuff said. >>



    I did...and they do not appear to be much different than from the rest of their gold bars.

    Sell price: 1 - 9 $1,160.49
    APMEX Buy Price: $1,125.50

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>What is the difficulty in selling it? >>


    Anything can sell, at the right price. I prefer that the products in my holdings bring the best premiums.

    Look at APMEX's current premium on these. Nuff said. >>



    I did...and they do not appear to be much different than from the rest of their gold bars.

    Sell price: 1 - 9 $1,160.49
    APMEX Buy Price: $1,125.50 >>


    Could be why I don't hold any gold bars.

    "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

  • mariner67mariner67 Posts: 2,746 ✭✭✭
    But don't you "pay" a premium when you buy and "reap" roughly the same premium when you sell?
    Isn't it usually a wash?
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>But don't you "pay" a premium when you buy and "reap" roughly the same premium when you sell?
    Isn't it usually a wash? >>


    This is true except there are premium products that see their premium increase over time. There's also consideration of which will give you the largest pool of potential buyers, which are least likely to be see a future, uncontrollable flood of counterfeits and which has a bigger collector base.

    What I think my future buyers will feel is the safest gold products to purchase is a consideration in all of my present purchases.

    "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: 19,129 ✭✭✭✭✭
    Ok I get it. But if buying at spot and selling at spot, what's the difference?

    The time when PMs sold for a discount is not too distant.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>Ok I get it. But if buying at spot and selling at spot, what's the difference? >>


    Difference is the number of potential buyers when you go to sell. If you are trying to sell anything, you want something that attracts the most buyers. An ounce of gold is not always just an ounce of gold. Varying prices paid for the many different finished products tells us this. Premiums are a good indicator for where the greatest demand lies.

    The more buyers the harder they will fight to get it, especially in an auction (or a stock trade). image

    "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: 19,129 ✭✭✭✭✭
    IMO, an ounce of gold is an ounce of gold, unless you pay a premium for it. When spot gold is $5000 I'm really not going to try to get spot +3%.

    Besides, isn't there always a buyer for gold?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    an ounce of gold is an ounce of gold

    this is true, if the aesthetic value of the items is disregarded.

    People like to look at their gold fetish items during the holding period and "the market" will tend to pay a premium for beauty and to a certain extent, novelty.

    That valcambi bar might be the most boring looking ounce of gold on the planet.

    Liberty: Parent of Science & Industry

  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>IMO, an ounce of gold is an ounce of gold, unless you pay a premium for it. When spot gold is $5000 I'm really not going to try to get spot +3%.

    Besides, isn't there always a buyer for gold? >>


    Yes, at different prices, depending on the product.

    "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

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>IMO, an ounce of gold is an ounce of gold, unless you pay a premium for it. When spot gold is $5000 I'm really not going to try to get spot +3%.

    Besides, isn't there always a buyer for gold? >>



    Try selling a damaged or blemished gold coin or bar and see if most folks want to ding you in price because it's not pristine.
    theknowitalltroll;
  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭


    << <i>

    << <i>IMO, an ounce of gold is an ounce of gold, unless you pay a premium for it. When spot gold is $5000 I'm really not going to try to get spot +3%.

    Besides, isn't there always a buyer for gold? >>



    Try selling a damaged or blemished gold coin or bar and see if most folks want to ding you in price because it's not pristine.

    Questions that come to mind...

    So what is the true value of gold? Is the premium over paper spot based on prettiness? Why would you price a damaged coin as you would one that is undamaged?

    Ex-jewelry coins are my favorite way to stack. What you got?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>IMO, an ounce of gold is an ounce of gold, unless you pay a premium for it. When spot gold is $5000 I'm really not going to try to get spot +3%.

    Besides, isn't there always a buyer for gold? >>



    Try selling a damaged or blemished gold coin or bar and see if most folks want to ding you in price because it's not pristine.

    Questions that come to mind...

    So what is the true value of gold? Is the premium over paper spot based on prettiness? Why would you price a damaged coin as you would one that is undamaged?

    Ex-jewelry coins are my favorite way to stack. What you got? >>



    You might want to fix your post since you posted inside the quote somehow.

    In theory an ounce of gold should be an ounce of gold, but blemished/damaged coins often sell at a discount. If I was buying, I'd expect a discount. If I was selling I'd expect full value since an ounce is an ounce, but it probably wouldn't fly. Premiums aren't based on prettiness, but lack of it seems to count for something. I wouldn't knowingly touch the stuff so I got nuttin.
    theknowitalltroll;
  • SilveraholicSilveraholic Posts: 197 ✭
    I jumped on the deal. An ounce of .9999 gold at spot by a major manufacturer is a great deal!
    Veni, Vidi, Vici
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    While not gold, notice the discount for lack of prettiness on the scruffy and spotted coins.
    theknowitalltroll;
  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    I get that an ugly coin should be worth less than a pretty one, but the floor should be set by the ugly, rather than the ceiling set by the pretty.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>I get that an ugly coin should be worth less than a pretty one, but the floor should be set by the ugly, rather than the ceiling set by the pretty. >>


    The floor is set by your beloved futures paper market. Premiums are added to or subtracted from it for the real stuff.

    "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

  • JimDepotJimDepot Posts: 958 ✭✭
    The price of gold should drop now, thx for the heads up.

    image
    image

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>I get that an ugly coin should be worth less than a pretty one, but the floor should be set by the ugly, rather than the ceiling set by the pretty. >>


    The floor is set by your beloved futures paper market. Premiums are added to or subtracted from it for the real stuff. >>



    THIS!


    In addition there is pretty much one degree of prettiness, but many degrees of ugliness. So how many floors does he want? Main floor? Basement? Sub-basement? All the way to China?image
    theknowitalltroll;
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    LoL, there are nearly infinite degrees of both ugliness and prettiness for gold.

    Ever see a pile of dental gold, or broken 10K jewelry?

    On the other hand, there are numismatic coins worth dozens (or hundreds) of times the melt value

    Liberty: Parent of Science & Industry

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>LoL, there are nearly infinite degrees of both ugliness and prettiness for gold.

    Ever see a pile of dental gold, or broken 10K jewelry?

    On the other hand, there are numismatic coins worth dozens (or hundreds) of times the melt value >>



    I'm only talking about coinage gold which is all I would deal with. I've never seen junk jewelry or dental gold offered by the big bullion houses. All dental gold is ugly. I doubt that there are any practical differences in ugliness of dental gold.
    theknowitalltroll;
  • CaptHenwayCaptHenway Posts: 32,145 ✭✭✭✭✭
    Didn't seem to affect today's market..........
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>Didn't seem to affect today's market.......... >>



    A nice little bump. A few more just like it would be great.
    theknowitalltroll;
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    so's we can get back to the prices they were a few weeks ago? that'd be nice

    Liberty: Parent of Science & Industry

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>so's we can get back to the prices they were a few weeks ago? that'd be nice >>



    I could make $1250 or better work.
    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Well crap a doodle, that was more like a dead mouse bounce.
    theknowitalltroll;
  • ashelandasheland Posts: 23,190 ✭✭✭✭✭


    << <i>The price of gold should drop now, thx for the heads up.

    image >>



    image

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  • TwoSides2aCoinTwoSides2aCoin Posts: 44,293 ✭✭✭✭✭
    Opportunity knocks and some work harder when it does. Some work smarter. Some don't work at all. And who's not satisfied is usually working on seizing opportunity.
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