Gold $1,020.00, Silver $21.00 can it be?.

looks like 916 now. lol platinum is still under 1900, $1865 last i checked.

and apmex took their online ordering offline. i guess they're trying to keep from losing money since they're p5robably selling metals now at prices less than they paid for them last week. cant say i blame them BUT...i think its shady, its the price you pay for having a business that deals in commodities that go up and down, the customer shouldnt have to pay for it and yet they are!

now their minimum order is 5K. quite a leap from 50 bucks.

 

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Can I cry here? Last week I just bought a "significant" number of St. Gaudens and now this happens! Why oh why didn't I wait to see what would happen this week!:headbang: Now what to do. Hold out and hope?

 

odds are good prices will go back up. when is another debate all together. but they will go up, if you stick it out for the long haul you'll make out.

 

Woowho!

Nice buying opportunities now

 

If you are investing - always invest in the long term! Don't worry... I am sure it will go back up... if not in 2 months then 2 years atleast...

 

No BOO HOOO - I have some more I want to sell. I guess I will just have to wait.

 

dont u have 2 weeks to return them? just send it back to the seller

 

The reason apmex took there orders offline is because their servers couldnt keep up with the demand of people trying to place orders, plus they are hedged in the market so it dosnt matter if metals go up or down they still make money.

 

Now that is an idea. Please let me tell you my story and see what you seasoned veterans think.

I purchased a rather large quantity of the St Gaudens one week ago from a local dealer. We had three checks that we were paying with. One personal and two business checks. We were told that because they were business checks they would have to hold the coins for 10 days. Pretty dumb on our part, but we agreed. We are set to go in on Monday and pick up the remaining coins. Of course in the mean time our investment has shrunk by 10 per cent!

Do you still believe that there would be a 2 week return policy? That would be awesome! I don't think this dealer would be real happy about this. In fact, since he has our money (our checks have cleared our bank) and we did a brief inspection of the coins, I think I am sunk.

Fire away with your ideas!

 

Depends on what the return policy is for that dealer. If it is two weeks, then there is no reason you can not return the coins. The checks taking time to clear really have no influence IMO on the amount of time to return the coins.

However (you knew there would be one ), what type of relationship do you have with this dealer? Is it one you want to nourish, or was this a one time deal so you don't mind potentially having hurt feelings?

What your long term relationship will be with this dealer will probably play as big a part in your decision as whether it is legal to return the coins.

Of course, this advise is worth as much as you have paid for it (although I do accept checks and will hold further advise until they clear) :whistle:

 

Easy!

Let the dealer keep the funds and tell him that you want to wait to see the point at which the value of gold stabilizes.
When it stabilizes you buy! You get more gold and the dealer gets rid of excess inventory. Win-Win!

 

I checked and they have a 5 day return on numismatic coins. None on bullion. I'm afraid that I am going to have to stick with my deal with them. Now I'm wondering if I should just take my loss on Monday, cash out and wait to see how far down it settles. I doubt that they would be willing to just keep my money and wait. I'm not sure I would be comfortable with that arrangement anyway, but thanks for the suggestion.

 

you could try stop payment on the check if it hasnt cleared i am amazed there is no buyers remorse

 

You made a deal. Stick with it.

What if gold went up $100 and the dealer said the price went up $100 an oz after you made the agreement? You would be outraged.

It is the same thing.

You made a deal. Stick with it.

This is why the country is going down the toilet. People are not living up to their obligations.

 

i agree with you but what about buyer's remorse all good dealers allow returns but then again its bullion

 

A "solid" sale is where both parties agree it is mutually beneficial. For example, I did some business
with APMEX. They sent me an incorrect item. I called - returned it, and they refunded not only the
cost but also the shipping. I went back later and spent twice the original amount on other items.
We're both happy - they were very grateful for my return and sent me some very nice coins.

It won't hurt to at least contact the dealer, and speak your mind, and ask him directly for suggestions - Politely!
He will accommodate. This is Good Business Practice and yields Returning Customers.

 

I personally wouldn't call (genuine) St. Gaudens bullion, hey are legal tender and collectable coins. But, I agree the buyer and dealer should stand by the deal and complete it. In the long run it'll probably pay off, but that's what speculation and investment is all about.

Ben

 

The seller should repurchase it at the current price.

 

IMO - Would you like the dealer to tell you no deal if the price went up by 10 %? I would stand by my deal. Some dealers have fine print saying no refunds due to decrease in metal prices. He may give you your money back, but he probably will never do business with you again and may tell other dealers to stay clear of you. Hang in there
IMO the metal markets come in 10 year cycles up or down. I think we have a few more years of up before we see a down cycle. You know it was due to go down a little when profit takers sell and the price of oil fell some due to our VP trip to the Mid East

 

That can hurt your credit score sometimes if the dealer reports it as non-payment