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APMEX shuts down
Wolf359
Posts: 7,666 ✭✭✭
Will there be an explosion in price tonight?
Apmex Is On Hiatus Until Asia Open, Or Why You Better Already Have All Your Physical By Now..
Zero Hedge
Apmex Is On Hiatus Until Asia Open, Or Why You Better Already Have All Your Physical By Now..
Zero Hedge
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Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
roadrunner
I expect a wild week. Expect margin increases and carpet bombing paper PM selling by the big boys.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
March of Time - 27 Centuries in Gold
https://coins.www.collectors-society.com/WCM/CoinCustomSetView.aspx?s=36590
what price was silver @ ??
Silver was once at near $50, and now it is less than $40. I don't see them doing a margin increase for silver at least. Gold is a different story.
Also, look at the spot prices they are showing on their website:
Metal Bid Ask
Gold $1,679.80 $1,684.80 $26.80
Silver $38.95 $39.15 ($0.34)
Platinum $1,731.50 $1,741.50 $12.10
Palladium $751.00 $756.00 $1.00
Updated:8/6/2011 11:30:00 AM CST
<< <i>when was the last time they did a margin increase for silver?
what price was silver @ ??
Silver was once at near $50, and now it is less than $40. I don't see them doing a margin increase for silver at least. Gold is a different story. >>
Their bag of tricks to spank the price is growing thin. I suspect it will take something new to be effective. Maybe a special metals sales tax?
"A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
they have a policy on cancelling orders: you can't.
<< <i>Perhaps APMEX is simply concerned with speculators placing huge PM orders and then not honoring them depending on what happens? >>
"A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."
Thats my thought
They place a huge buy order at Dealer A and a huge sell order at Dealer B, honor the winner and dump the loser. I'm sure its happened plenty times before. Bullion direct still has the "exchange " happening but if theres a huge move whats to force a seller/buyer to complete the deal??
Either way, I would buy from Tulving if I were in the market. Better pricing by far.
then there would really be a buying spree, right?
How exciting this year has been. I thought 2010 was intense. I think 2012 will be off the charts.
Miles
who knows? (rhetorical question)
APMEX, and perhaps other metals dealers realized that the chances of a run by consumers over the weekend for gold and silver could have actually cost them millions of dollars, especially if global prices open up vastly higher on Sunday evening. Speculations are rumored to be potential increases over $100 in gold, and $50 in silver, dependent upon reactions in both Asia and Europ.
With APMEX closing down operations for the weekend in fear of the ramifications of the US ratings downgrade, the industry expectation of the price of gold and silver once the global futures markets open on Sunday show that nearly everyone in the industry believe that the opening price will be extremely different than when the markets closed on Friday.
We'll have to wait until NY time to see the real action.
<< <i>but NY markets generally move the PMs the most.
We'll have to wait until NY time to see the real action. >>
OK. I am patient as MilesWaits.
<< <i>Silly me. It must be that thing my parents taught me about honoring my word, even if it hurts once in awhile. >>
And you recommend WHO for buying PM's?
World Collection
British Collection
German States Collection
We'll have to wait until NY time to see the real action. >>
Knowing what we know about the PPT, I think that tomorrow's action in gold might very well look like this, with 10:00AM Eastern Time being the peak:
I knew it would happen.
Miles
JCM - not sure if there is some hidden meaning in this message. Perhaps there are some historical things I am not aware of. Care to expound?
Sorry I don't know how to provide a link.
APMEX is back on-line selling.
<< <i>+82c >>
there was a ~70c price change in just a few minutes.
Fred, Las Vegas, NV
<< <i>Hair away from $1700 >>
Yep. $1696.30 is the current high so far for gold with plenty of time left tonight into tomorrow.
Fred, Las Vegas, NV
And choreographed to boot.
<< <i>Sounds like nothing more than greed, I mean "capitalism" on Apmex's part.
Also, look at the spot prices they are showing on their website:
Metal Bid Ask
Gold $1,679.80 $1,684.80 $26.80
Silver $38.95 $39.15 ($0.34)
Platinum $1,731.50 $1,741.50 $12.10
Palladium $751.00 $756.00 $1.00
Updated:8/6/2011 11:30:00 AM CST >>
Ahh, don't get yer undies in a knot. We've been saying for 48 hours that we have no idea what was going to happen on the open. If they were getting a ton of orders and could not cover in any market, cutting off sales was not unreasonable.
<< <i>I'm pretty sure JCM is referring to some of Tulving's past business practices, Wings. >>
I bought a lot from them at good prices and never a problem.
This is why many stock market traders will unload on Friday pending weekend developments -- they don't want to be caught by news.
Same thing with the metals traders.
When the markets are trading normally again Monday morning, and the dealers know what the "spreads" are they can be back to business.
Its when you don't have an accurate idea of "spreads" that you don't do business.
It's like that in many industries.
In TV (my business) I can't accept orders for commercial time for December because I don't know what the TV stations will be charging in December -- because they won't announce their rates until late September.
www.AlanBestBuys.com
www.VegasBestBuys.com
I can understand that. But don't display your website is open 24/7/365 and then shut it down all of a sudden because of some uncertainty. You state a known fact about the September / December rates.
If you are worried about getting stuck with inventory, take orders for what you have and when you run out, you run out.
I don't see this as them being afraid of a "run on the bank". IMO, I see this as a money grab; "let's not sell until prices go up and we can open up the spreads and make even more money". Maybe I'm wrong.
"A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."