I sold some gold today!

Yes at my coin club last night there were around 10-12 gold coins for sale in the auction that we hold. That's unheard of b/c there is usually only 1 or 2 being sold.

With that said, nobody was selling cheap!!. In fact some gold coins were marked up way too high and didn't even get a response. A 1995 1/10th went for $115. Another thing to add is that we had a very high attendence b/c we had a coin show two weeks ago. :bow:

 

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Well, looking at where the price of gold has went since I had sold some I guess it was a smart (dumb luck) move. I will have to say that the transaction with AMPEX went without a hitch and I got their payment check in hand fast!.

 

The price is only down about 2%. So far you haven't even covered the bid/ask spread it would take to buy back in. I think it's a bit early to declare victory.

 

example for Mr. yankee. most dealers used the cdn newsletter as a guide. let said one ounce gold. cdn bid 1,000.00 ask 1,100.00. this price is between dealer to dealer. not for us collectors. now if you want to buy from them. they charge between 10% to 20% more than ask price. but if you want to sell it to them. they buy it from you 10% to 20% below cdn bid price. so if you happen to buy from them at $1,200.00. and change your mind to sell it few days afterward. you gonna end up with $800.00. that is 33% losing. so why people still buy them. because they only collect not business. it's a hobby. it's the best hobby in this world i think.

p.s. as i said it before. play gold. you must play gold stocks at wall street. not gold coin at main street.

 

I have not sold any of my gold coins only the bars. I intend to hang on to all my graded gold coins as well as all my gold eagle bullion coins until my retirement in 5-6 years from now. The sale of the bars was planned to get some profit to offset what I paid for the coins. When the gold price reached $1070 I sold as planed. It was a gamble on my part and I was lucky it worked out for me. I have what I learned on this forum to thank! The many experts here really help us folks that know nothing. By the way, I am happy to report that its looking like my spine surgery is healing nicely I woke up today with no pain! I am starting to believe my surgeon's hands were guided by the almighty! I have a long recovery road ahead of me. I wish to thank all here for the encouraging words!

 

I'm glad your spine feels better. That's more important than the gold price.

 

Well, I still have my gold coins the price is still going up. I just hope I can get the timing right to sell before the bottom falls out!. Now I just gotta figure out what to do with the proceeds from the bars I sold! LOL I also wanted to let everyone know my recovery seems to be going well!. I have no pain. if the bone fuses well I should have no problems enjoying life again!

 

God bless you Yankee. I am very happy about your pain lessoning and it not being there at all sometimes. Keep up your good attitude and outlook. As for your good fortune in selling your bars that's great too. I hope some of that rubs off on me because I'd like to know when to sell some gold bullion. Any good hints?

 

You better not ask me for advice regarding bullion sales. I know very little about timing markets I am more like a Vegas slot player if you know what I meen. There are others on this forum I consider experts in the investing business. I wont mention any specific names as I wouldn't want anyone here to get a big head or anything LOL. But I find many here on this forum to be wise as well as smart. I have learned much here that I can say!

 

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