Today's drop was the 27th largest percentage drop ever for gold. Mere bag of shells, as The Great One used to say.:D
No, profit-taking and an overreaction to some minor blips like the stimulus, dollar, etc.
Well, I might pay a small premium for a nice MS65 common Saint....but I'm not paying 30% premium because the price of gold fell 15%, too !!:D
I meant always looking to make $$$ on every single transaction. I don't think that's the norm, right ?
That's their right, but if they are only buying/selling when prices are RISING, then they'll lose business during both good and bad times from...
I just can't believe someone would want to sell stuff there.
But that isn't as much based on bullion prices, it's usually for numismatic or specific pieces detached from bullion prices, no ?
I guess you are FORCED to sell at prevailing market prices. What do you tell customers, "Yeah, I have bullion/Saints/other gold but I'm not...
Must be more treacherous with numismatics, even commons, as you deal with premiums depending on the grades (if they go high enough, they elevate...
If silver is going to $40/oz, who cares about "average cost" -- you still make money at these levels. :D
So let me ask you dealers a question that I've never understood, not being a trader or business owner.....you buy up here a bunch of common...
If the government even ATTEMPTED to repeal the 1975 law legalizing gold ownership, you'd basically have riots and financial collapse.
I'm still shocked -- OK, surprised...perplexed :D -- by how much more a modern PF70 5 ouncer goes for compared to a PF69. You're talking 1 grade...
I don't like just pulling numbers out of your......:mad:
You'd have a financial collapse or political upheaveal such that the LAST THING you'd worry about is your gold.
In a low-rate environment, the opportunity cost (at least via fixed income vehicles) of holding PM's is close to zero.
Key was closing off the lows Friday and OVER $2,000.
Maybe they can blame Israel Switt ???? Lol
NCLT ??
....and on Q...the 1950's power grid is out for a few days so the reports will have to wait.....:mad:
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