Good if you are buying... ..................... Gold and silver are getting crushed. On Tuesday morning, gold fell more than 1%, or about $15 an ounce, to around $1,157.30 – a three-month low. Silver fell more than 3% to around $15.16 an ounce. It's the first big move for both commodities following the big news out of Greece on Sunday. In a note to clients earlier on Tuesday, Accendo Markets noted that gold had shrugged a sell-off in spite of the "No" referendum result and a stronger US dollar. Other precious metals are also trading weaker. Platinum dipped nearly 2%, or about $20.50 an ounce, to around $1,045.80. Copper fell more than 4%. Here's a chart showing the slide in gold prices: Read more: Gold and silver prices, July 7 - Business Insider
or a stop loss. Only in a manipulated world would the lack of a resource coincide with a drop in price. If you can't get it from the mint the sellers should be charging a premium for those that want it. I'll bet retail for 2015 eagles is going to be over 20%. yep, 20% in bulk and 33% if buying singles. OUCH!
Every day they fix the price of precious metals in much the same way people fix horse races. The number they choose is selected to accommodate their agendas, and depends on ignorance and blind obedience for its effectiveness. In actuality, the value of precious metals is increasing. For every person who has an ounce of physical silver to sell, about fifty people are waiting in line to buy it. Just over a week ago I watched a 1oz fine silver round sell for $74.00 + another 22% in sales taxes and buyer's fee. And several people very upset that their bids were beat by someone who was willing to pay more than they. To find out what the real price of silver is, just stroll into any pawn shop and ask to buy ten ounces of fine silver for $150.00. They will quote you a much more realistic price.
I'm willing to pay over spot for minting it into a fine silver coin. But not hundreds of percent. Heck, even 90% "Junk" coinage is going for way more than I'd be willing to part with. Beans, spam, rice, barter goods are a better bet. I wonder who dumped tonnes of silver paper on the market this week
The premiums are getting too high here. I don't mind paying a couple of dollars over spot for rounds and five or so for silver eagles but a five dollar premium on rounds and eight dollars on eagles is too much. If I get that interested I will go the jewelry supply houses and pick up silver shot. I do know of one dealer in town that has built up an inventory and is selling at a fair price, and he had tons of silver dimes my personal favorite. Goldman Sachs or MorganStanley, just a guess but probably not too far off.
I have a problem with silver shot. In my book it's an unknown. Not backed by a nation (coinage, national mint) nor a well known mint house (apmex, Scottsdale, NWT ... etc) no proof of fineness. Might as well be pot metal. YMMV.
Industrial Silver (Grain) | Buy Silver Values & View Silver Prices | APMEX American precious metal exchange silver shot. This the what jewelry makers use and this is where mine has come from
Pretty much neither. The mint produces runs of various coins on a schedule planned to keep the work force and equipment moving along. They sell these to only outside vendors and then they tool up for another batch of some coin, if they run out of a coin then they wait till that coin's production is planned. The vendors climbed on the band wagon and purchased what was left from the last minting and many still have a well stocked supply at a fair price if 20 or more. Check ebay, prices are all over the board as usual. Some are $3 above spot with shipping in rolls of 20.
Metals prices recovered a bit today, it will be interesting if the Chinese markets, Greece and general instability cause spikes.
Wonderful. I just bought some rounds for right around $17+/oz in various sizes, 1oz, 1/2oz, 10th oz., included S&H. Yes, I knew the spot (at the time) was somewhere around $16+ oz so figured it wasn't that bad a deal. Well guess I got took again. Always a guess, going up? Going down? Staying the same? Same with gold. Who would have thought that that $400/oz gold would be worth $1100 (if it hasn't dumped already). One group i belong to bought at $400, when it got to $800 I said SELL! Man did hey get mad! THAT'S not investing, that's speculation! And.... ? Who has TWO oz of gold when they sold at $800 and bought back at $400 again? Pays you money and takes you chances. On the other hand, I have NEVER bought ammo and had it go down in value! Of course I don't buy .22 now and haven't for several years. SOLD .22s when I needed money, but not bought.
