Apparently the "Promoters" are done with Proof ASE's in OGP.
keets
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It wasn't long ago that we had a wholesaler with offers of $48 for generic date ASE's in OGP, maybe 1-2 years ago. That fell slightly down to $45 and then to $42. Checking our sheet this morning shows a price at $31?? Can anyone offer an explanation for the steep decline other than the promoters being done with them??
Al H.
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Not sure but that usually means that all orders have been filled.
I noticed that this happened a couple months ago. At one point the buy price was below $30 if I am not mistaken.
Yup. Started hapening around April. No idea whats up.
Time for them to re-load?
More likely ... time to move on to the next buy and flip item.
Stupid things ran on forever at inflated prices . A dealer once said to me it had something to do with precious metal IRA's but I don't know if that was true or not
The ASE and AGE 1 oz proofs in Govt Packaging were promoted heavily in the fall 2009 run-up then again in 2011. For that to happen again, and it probably will, it will take much stronger gold and silver prices....that's it. The AGE proofs have been sold by Heritage recently at just $55-$60 over spot. Seems like a pretty good deal to me considering they are 15X less plentiful than the regular uncirculated ones....and very promotable. They have populations similar to slabbed 64 Saints.
As I heard it from one major bullion dealer: There was one company out of california (? i believe) that was the end user- placing them in peoples IRA etc. Whether people knew or not, ultimately there was only 1 major buyer. (there were other companies underneath that created sub markets, but ultimately they all ended up going to the same 1 big marketer.)
This company was promoting silver eagles and proof eagles etc.
On tuesday morning this company opened its doors as if nothing was different. tuesday night they closed with nothing being known. By 9 am the next morning the place was empty with no past of anything or anyone being there.
When people realized what happened- within days the bids dropped on proof gold from +250 to +$30
Silver eagles were +25 down to +5
Now other marketers are coming back in and taking over- but the drop was big and bloody
What company?
As I heard it- goldworth financial from west hills California.
This was back in February 2017.
Goldworth Financial has gone dark. Many of the typical complaints of scamming bullion buyers with over priced "rare coins."
Capital investment depends on confidence. - Martin Armstrong
Makes sense then with the decline startin around April.