Gold Coin Sellers in US Now Pay Dealers to Offload Goods
RedneckHB
Posts: 19,652 ✭✭✭✭✭
Thoughts?
The US market is so awash with bars and coins that some precious metals dealers have slashed their premiums to the lowest in six years to spur sales. And when investors sell, they’re now looking at paying dealers a fee to offload gold
Bullion dealer Money Metals Exchange LLC currently charges buyers of one-ounce American Eagle gold coins $20 over spot prices, compared with $175 four years ago. And sellers now need to pay about $20 for the online exchange to take the metal, whereas in 2021 they would have received an extra $121 for selling
The glut has led to a collapse in sales of newly minted bullion products, with the US Mint’s American Eagle gold coins — a proxy for retail demand — tumbling more than 70% in May from the prior year
In the US, “A lot of the retail investors tend to be Republican-leaning. And whatever we say about the policy of tariffs, they like the idea of how Trump’s doing,” said Philip Newman, managing director at research consultancy Metals Focus Ltd. “So from their point of view, there’s less reason to buy gold.”
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Knowledge is the enemy of fear
Comments
Opportunity knocks.
``https://ebay.us/m/KxolR5
While some knock opportunity.
``https://ebay.us/m/KxolR5
comment?
give me all i can take at $20 over
Spot = $3,279
Lowest offered price in above ad = $3,376
$97 over spot
erroneous reporting
I knew it would happen.
where'd the writer get the bid price?
It appears Money Metals is the source if the info, so is the reporting bad or the info, or neither?
Knowledge is the enemy of fear
If someone walks into your shop to sell a 1 oz AGE are you paying him/her over or under spot?
Knowledge is the enemy of fear
$3,229 Buy Price at Scotsman in St. Louis.
$45 under published spot.
When I spoke with them about a week ago, they were pretty keen to buy a fair amount of gold bullion.
I'm not quite ready to sell, but when I do sell it won't be because of how a politician is doing.
I'm sure that once it's sold and goes to Asia, it won't be coming back anytime soon.
Gold is on an upward trajectory because of gov.com's spending problem and the Fed's complicity.
I knew it would happen.
Physical premiums have plummeted everywhere. Still no premiums on the SLV/PPLT/GLD etc.
RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Premiums are a reflection of supply and demand.
When prices sky rocket supply increases and premiums drop. As a seller the much higher prices are always my first choice over high premiums.
No Way Out: Stimulus and Money Printing Are the Only Path Left
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Physical premiums on common bullion are back to their (relatively low) historical normal.
The current low premiums on physical bullion make it a much-better buy-and-hold than holding on to SLV for any length of time. The SLV premium is now at a NEGATIVE 9% and getting half a percent more negative every year. So in about two years a share of SLV will be worth 10% less than an ounce of silver.
Personally, I would NEVER buy SLV and the like, no matter how much you try and peddle it here.
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Personally, I would never buy the fantasy tokens and the like that you continuously attempt to peddle for 100%, 200%, 300% premiums. But as they say, whatever floats your boat. I'll stick with my strategy. BOOMIN!™ THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Sales drop as prices go up. They need economic courses in journalism school.
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I'm not constantly spamming this forum with testimonials for my products (or anything else) like you are with SLV.
PS: You can't ever exchange your SLV stares for actual (physical) silver.
So,
SLV = fake bullion
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I’m paying 98% on eagles. 97% on Krugs, maple leafs, etc. even less on jewelry …. And yet, sellers were buying from me at $100 over spot on eagles and $75 over on others, when gold was under $2000 and silver was under $25. So the idea that sellers are paying buyers to buy is like saying you save 60% because a store having a sale and you believe you are saving money, when the reality is : You are spending it.
The reality is “premiums are so thin on bullion” that it’s hardly worth what little juice is squeezed , if you must know.
``https://ebay.us/m/KxolR5
back when ebay had ebay bucks deals on coins and we could buy bulion at or under spot, i found apmex paid over spot
Those were the days - tax free profits on a quick flip
Yep those were the best of days. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Your advertisement is in every post you make.
I exchange SLV for DOLLARS which exchange for physical gold, gutter, hog feed, whatever and vice versa. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
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My signature has a link to my web site - the one that does not collect any info or offer anything for sale.
If you want to go to my store, that is a different web site.
But thanks for the free advertising.
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Anywho, back on topic. Crazy that dealers would have to charge the sheep extra to buy the metal of kings? I mean 99% definitely are lowballers but that just takes it to another level. I did see BE offering $100 bags of gutter at spot. No doubt there is a physical slowdown. I think they even had raw DEs at spot. I've got a fairly busy week but I will make it a point to stop in a few shops when I am down in one of the cities. I will demand that they pay me to buy their dreck. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Locally I can't give 1 oz coins away, I take them either to PCE or Heritage
Please let us know how you make out. Thanks.
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
read on here that 10th and 4ers are the ones moving. what insider info can you give on that? and... how's the half ounce stuff moving?