Today's chuckle: buyback prices

Discussion in 'Bullion Investing' started by -jeffB, Aug 6, 2020.

  1. -jeffB

    -jeffB Greshams LEO Supporter

    Just checked buyback prices at JM Bullion, and saw this:

    upload_2020-8-6_12-44-2.png upload_2020-8-6_12-44-27.png

    I'll keep this in mind the next time someone asks about (a) premiums for proof versions of bullion coins and (b) the value of OGP.
     
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  3. medoraman

    medoraman Supporter! Supporter

    Yeah but like everything it depends. Its kind of nice having OGP, and if you receive it that way why not keep it? most are not as fancy and huge as the 2009 proof high relief. Second, depends on whether the proof is identical to the business strike, right? I am thinking of platinum and how the proofs except for the first year have different designs. I have no interest in the business strikes, only the better looking proofs.

    I think this is an instance where the buybacks were not linked to the same market levels.
     
    midas1 likes this.
  4. mill rat41

    mill rat41 Member

    I recently sold 3 1oz buffalos to Apmex - one bullion, one proof, and one reverse proof. For the proof I was offered $10 under spot. The bullion was $14 over spot. The reverse proof was $20 over spot.
     
    GoldFinger1969, -jeffB and midas1 like this.
  5. -jeffB

    -jeffB Greshams LEO Supporter

    Aha!

    https://en.wikipedia.org/wiki/Gold_IRA

    Proof and bullion AGEs are eligible for gold IRAs, but only bullion Buffalos are eligible -- proofs are not. Apparently this matters to enough people to influence the market.
     
    GeorgeM and GoldFinger1969 like this.
  6. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Shows who are really buying at a premium. They will never sell their stack as it is sure to go up more soon.
     
    GoldFinger1969 likes this.
  7. PeacePeople

    PeacePeople Wall St and stocks, where it's at

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