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Current Buy/sell spreads on type gold
logger7
Posts: 8,131 ✭✭✭✭✭
One wholesaler has these buy/sells on type gold which are bigger than I have seen them in a long time.
MS61 MS65
$10 Liberty 875 / 945 875 / 950 875 / 955 1035 / 1100 2125 / 2225 Call
$10 Indian 865 / 945 865 / 950 865 / 955 1130 / 1205 2425 / 2550 Call
$20 Liberty 1725 / 1825 1765 / 1865 1855 / 1955 2025 / 2125 2310 / 2485
Saints are not so great:
$20 St. Gaudens 1725 / 1825 1735 / 1835 1760 / 1860 1795 / 1895 1885 / 1985
How long will this market persist?
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@logger7 ...."How long will this market persist?" You are asking the unknowable....There are many variables and no one can foresee the outcome. Cheers, RickO
It will persist until I'm able and willing to go to the vaults. LOL
Presumably the first numbers are for MS61, then going up from there.
Appears to be around $100 spread, some more and some less. What is the normal wholesale spread?
Indian Head $10 Gold Date Set Album
The market will persist as long as the buyers will bear it.
I thought the spreads were $40-$50 or at most. No offers on cac coins on the sheet.
Over the last year or two there was a glut of gold, mostly $20's and $10's from Europe. This, coupled with weak demand, brought the premiums down in MS grades to virtually melt. With the stock market decline, and uncertainty around the world, the demand has increased substantially, and the premiums have shot up a bit. As importantly, there is a lack of physical product now. As an example, Saints in 64 were trading wholesale for $1575 6-8 weeks ago (with gold at $1550). Now, they're 1900+ wholesale. I sold Saints in 66 3 months ago for 2000 each. Now I can get more than 2500 each. CAC coins will bring more than this right now. 90% silver is the same right now...no product available except for substantial premiums.
This has been the typical number. It is interesting how much the spread has widened.
Skyrocketing premiums on physical precious metals over spot. PM availability primary culprit. Mucho discussion on the PM forum.
Are they really this stupid, or are they destroying the dollar on purpose?
Considering that a very small fraction of the general public owns any precious metals, the spreads will be wide as long as more people begin to perceive that by holding precious metals they have a chance of preserving some of their wealth. It's a very volatile market, and the spreads are a direct function of that volatility.
I knew it would happen.
Peter Hug on Kitco was interviewed this week; he has been in the metal market since the early 70s; he refuses to trade in crazy markets like this one but is waiting for some direction and stability.
I have two gold bars on the BST for spot and no one seems to care!
Latin American Collection
The lack of shows means that HA, Stacks, Rarcoa and others are having trouble restocking.
Also coins like 1/10 oz eagles are out at Apmex and selling at $200 plus on ebay.
To throw a wrench in the gear box. I read that something like 150 "paper " ounces of Gold is just ink on paper ( 0's and 1's in a computer) for every 1 ounce of Gold that actually exists. If paper holders demanded delivery at once, Gold would surpass bitcoin rather quickly. However Governments do not like rapid gold price increases and will attempt to snuff out any rally with huge "paper" selling.
100% Positive BST transactions
Like boosibri mentioned, One of the big nationals regionally is asking like spot plus 100, but I cant get spot hardly on anything 1 oz . The small gold like 1/10th's and 1/4 are hot a firecrackers
A normal wholesale spread can be 5-10 pct. it’s relative to variable sell expense / making table fees, buyer traffic, inventory size, seller outlook. However current situation not normal environment.
So you pay their ask or go find one.
For me at shows (before corona) wholesale specials from my table wb bid plus 10 pct. Other items might be cost plus $5 (usually inexpensive material under $50). Price sticker would be in red. Hagglers you can just tell them it’s the best you can do or you could say it’s lowest consignor will go.
As long as money is around.