Discussion in 'Bullion Investing' started by myownprivy, Feb 4, 2017.
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better buy 100 gold maples then and get a free one
Wow! Gold's up only $60, no $80, no, $90 per troy ounce since last Thursday -- how can they stay in business selling for just a $10 markup?
But expect the buy back to be well under spot.
Absolutely. Even at local shows it's often easy to buy 40% at or slightly below spot.
On sale but still not a great deal. I want a few though. I'll get 6
Provident is Running some sales. Nothing tempting, I'm waiting on a deal for some ASE's. I ended up not getting the 1oz bars.
Same here. Provident had some super deals last black friday and xmas time. They randomly email me coupon codes for $5 off $100, or $10 off $200 with free shipping over $99.
I'll probably just save up and wait until silver pulls back again and pick up some.... if that happens
I have bought a lot from Provident over the past few years and never got a $10 off coupon!
There are random year Kookaburras for 11% premium, $18.59 right now.
There is also 1 gram gold Pandas for about a $10 premium. But be warned, they advertise as shipping in a flip, so they have been opened. That is also about a 20% premium
There are also current year 1 ounce Platinum coins for $55 over spot, such as a 2019 Maple. 6% premium.
Some different gram denomination gold bars for around 3% over spot. (5 grams for $234, for instance) but be careful, you'll get killed on the buyback.
Nothing that looks too great right now.
Not a good buy.
#1 Provident's random year Maples are sourced from the secondary market and may feature abrasions, copper spots and other damage (to paraphrase from the description)
#2 Even at $6 over spot, it's a bad buy because gold prices should drop soon. The Fed's rate cut today resulted in a stronger US dollar. If this continues, the price of gold should decline. When the dollar is strong, gold is low.
I would not buy.
Meh. $5.99/oz over spot is as good a deal as anywhere else for bullion right NOW. For bullion, I don’t care if it’s secondary market as long as it’s an ounce of gold.
But you’re right about the timing. I’m sure that’s why they initiated the sale today. They’ll dump quite a bit of inventory with the low premium. I’d actually love to see prices drop over the next couple of weeks so I can add a bit this quarter.
Secondly, I hear you that you think $5.99 is a good deal right now. However, just be aware that if you buy this Maple for $6 over spot you can sell it back for $13 under spot. So there's a spread of about $19. Therefore, it stops being such a great deal because so many places undervalue it to do secondary market damage.
Of course, there's a chance that when buying a random year 1 ounce Maple you will get a flawless coin. If that's the case, this is a great deal. However, 1 ounce gold coins for me are just not something I take a chance on. I might take a chance on random year whatever silver bullion, but I don't roll the dice when spending $1400.
Lastly, I LOVE Maples, as everyone knows. They are the most beautiful gold bullion coin in the world. They are also the second most traded in the United States and often the first in the rest of the world. In addition, they feature the best security features of any gold bullion coin and are therefore the least subject to counterfeiting, and, most importantly, the least subject to suspicion or hassle when reselling due to being the most easily authenticated. Having said all of that, that applies to 2015 and later Gold Maples. These are the ones that feature the privy mark, the radial lines, and the DNA technology. So, buying a random year might get you a 2014 with just the privy mark but no radial line, or it might get you a 20-year-old Maple with no security features. That's not a chance I'd want to take.
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