For me, buying at $5.99 over spot is a decent buy right now. I'm not in this to flip for profit immediately. I'm more in it for the long haul. I don't plan on selling any gold until after I retire ten years from now. In 2009, gold was about $950/oz, today it's over $1400. Do I think there's a chance that gold will be $1900-2000 in 2029? Yes, there is a chance. If that happens, $5.99 over spot today will be a great deal. I don't care about condition. This is bullion, not collectible coins. As long as it weighs an ounce is all that matters to me in regard to bullion. Premiums are for suckers! (just kidding!)
On the other hand, this same argument held in 2011, when gold blew through $1700/oz and kept rising. You could've flipped it a month later for $1800 or more -- but why sell, when gold was still rising so rapidly? I'm still holding at least one ounce that I bought at $1700. I might see it hit that level again this year, or it might be another decade, or more. And by that time, $1700 won't be worth nearly as much as it is today. That $1700 ounce is an MS70 burnished Eagle. It's a nice piece, and I got it slightly below melt. But if I'd put that money into Apple, it'd be over $6500 now, and I could get four such pieces. (Fortunately, I didn't sell the Apple I did hold to buy more gold...)
Well, Trump made trade policy by tweet and the market went down and gold went up nearly $35. 10% tariffs on more Chinese good.
I'll tell ya, it's tempting to think that way. You see a day like today where you "lose" x in the market but feel a little reassured when you "gain" y amount when gold goes up. But, the reality is that our holdings in the market should be many times greater than our holdings in pms, so it ultimately doesn't cushion the blow too much. Then again, I bet some bullionbugs hold far more than 10% of their assets in bullion.
BTW, Provident has been bought out by JM Bullion - an article from findbullionprices.com: (they also have up to date best price charts for popular PMs) https://findbullionprices.com/blog/jm-bullion-acquires-provident-metals/
Very unfortunate. Now with Jmbullion owning provident that is why $6 over spot for a silver Panda is considered "a deal." This is a very disappointing acquisition. JMbullion is my go to dealer for expensive gold, because their quality control is excellent and it makes me more comfortable spending that kind of money from a larger company. However, Provident was my go to dealer for silver bullion, where quality of an ounce of silver or junk silver was less important to me. Quality was often lower from Provident due to selling second hand silver. But now with JmBullion's acquisition of Provident, I fear this option of buying less expensive secondhand silver will disappear.
I like Provident as well, they run some good deals. I'm concerned that'll end. But APMEX just had a pretty good "flash sale" on second-hand silver bullion ($.29/oz over spot). Metals.com always has better day-to-day prices on 1oz rounds.
Monument Metals is running a 'starter pack' (10 1 oz. silver rounds at spot) special (new customers) + free shipping & no sales tax! https://monumentmetals.com/10-silver-rounds-at-spot.html
Pretty good deal ($.22/oz over spot) on 100oz silver JB bars. https://www.ebay.com/itm/SPECIAL-PRICE-100-oz-Silver-Bar-Johnson-Matthey-SKU-87716-/113660849052
One day offer - 14 Nov 2019 12 noon - 5 pm EST Make a quick $100 buying the new ASE coin from the USM and sending it to a coin dealer: (Limit of one per customer, so dealer needs inventory & you need holiday shopping $$) https://mailchi.mp/0212b7d1db03/reverse-proof-ase-offer?e=a28c0eb2d1
Presales on eBay for raw coins are running mostly around $400, with some $500 or more. If I get one, $100 won't be enough to pry it out of my hands.
Agreed. The question is, when the initial hype dies down, which it certainly will, what will be the forward baseline for this coin? I've been burned by mint offerings for decades and I keep coming back for more abuse.