Anyone Buying Saints This Week?

Coinosaurus · January 31, 2010 1:05PM

What does the action look like in the next seven days? Or should I wait until next week.

Lakesammman · January 31, 2010 1:10PM

Current bid on 50 AU Saints in the HA gold auction currently going for $1501 - looks like a bargain.

RYK · January 31, 2010 1:18PM

I am not sure that even a Guru of Saints could predict whether it would be better to buy now vs. a week from now. In general, I feel that the price of generic gold has been slumping, so if you believe "the trend is your friend", you should wait. That's not so much a recommendation; it's more of a casual observation.

Lakesammman · January 31, 2010 2:46PM

I bought some generic gold at FUN - GUARANTEED to go down.

WTCG · January 31, 2010 2:49PM

Although some bids on Saints have been restored, they are still very soft and have been for the last few weeks. Of course the demand for generic gold coins can change at any time and demand can pick up (or decline) next week with very little notice.

I guess this thread has two different meanings. As for the other type of Saint, they were bailed out by the refs last week. I'm rootin' against them a week from today. Oh yeah...#25's girlfriend/ fiance is a totally annoying sk--k (and you thought the skinny blonde hotel heiress is famous for no reason) in my eyes but I'll bet we'll be seeing way too much of her on tv than we really should.

SilverEagles92 · January 31, 2010 2:51PM

Is this a Superbowl post in disguise?

droopyd · January 31, 2010 3:40PM

<< <i>Is this a Superbowl post in disguise?

>>

I'm taking the points...

jakeblue · January 31, 2010 11:02PM

<< <i> I guess this thread has two different meanings. As for the other type of Saint, they were bailed out by the refs last week. I'm rootin' against them a week from today. Oh yeah...#25's girlfriend/ fiance is a totally annoying sk--k (and you thought the skinny blonde hotel heiress is famous for no reason) in my eyes but I'll bet we'll be seeing way too much of her on tv than we really should. >>

Drew is cool, but the colts are the bet. As for the sk--k

Boom · February 1, 2010 3:14AM

Saints? ... This week?

In a manner of speaking - possibly.

roadrunner · February 1, 2010 5:21AM

If the stock market and gold prices continue to strengthen over the next week or two then this would be a decent point to buy Saints. But caution is advised because they can very easily continue their descent if the $1070 level is taken out eventually. If one thinks back to last year about this time Saints were in the dumper but just starting to stir. The MS65's went from $1650 at FUN to nearly $2300+ by February 20th. But it's also the case that they were coming out of a deep hole from November 2008.

I'd keep on eye on the Unhedged gold miner's index (GDX) as well as GLD if you want to find a reasonable way to reflect the trends in the Saints. The slabbed saints tend to run with leverage and therefore GDX (rather than the bullion price) tends to dictates their movements, especially on the downside.

If one were to be a buyer of Saints and was just starting to build a pile this would certainly be a good time to take the first dip following a 25% correction. But understand that they could end up being another 10-15% lower before the first half of the year is out. There's never a guarantee.

Current bid on 50 AU Saints in the HA gold auction currently going for $1501 - looks like a bargain

I'll take the 25 AU $20 Libs at $501 total....at <2% of spot. I've watched these auctions for a while and have never seen starting bids this low. It's really a waste of everyone's time. But I really have my eye set on MS64 $10 Indians at a few hundred bucks each....lol.

roadrunner

dizzyfoxx · February 1, 2010 5:23AM

I think "Colts" would be the better choice.

Coinosaurus · February 1, 2010 6:06AM

<< <i>I think "Colts" would be the better choice.

>>

I suppose "Colts" can indeed come in handy during periods of runaway inflation and general instability

Lakesammman · February 1, 2010 8:48AM

Where's the hook, line and sinker icon??

Aberlight · February 1, 2010 8:57AM

.

Lakesammman · February 1, 2010 9:04AM

I heard a dealer at FUN say he had "just bought a really big gold deal". Don't know if it relates.

RYK · February 1, 2010 9:07AM

<< <i>I was told that a group of dealers put together $35M and bought 30,000 Double Liberties from a European Bank and that many were considered gradable and being sent for grading. Because of this the premiums have fallen in 4 weeks from $1500 to $1200 for generic dated MS62 and $1800 to $1450 for MS64.

Has anyone heard anything about this or is this a rumor created to explain the fall in premiums? >>

I cannot verify your numbers, but there is clearly a sizable group of gold coins from Europe that is currently being distributed in the market.

WTCG · February 1, 2010 9:16AM

It is correct that there has been a large supply of US gold making it's way from Europe to the US in recent months. It hasn't just been one large group, but several large multi-million dollar deals have shown up recently. As a result there has been plenty of supply available for all $20's in grades from MS60 to MS65.

The other issue is that in the in the past until recently most of the gold from Europe had been funneled through by one particular company but since that company has been going through some troubles of late the gold is now being handled instead by another company. That new company has traditionally been one of the better bidders of slabbed gold but now since they have more supply than they often need, they don't often bid as high or buy as much gold as they have in the past.

Anyone Buying Saints This Week?

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