What’s up with bullion in Austin, TX

Discussion in 'Bullion Investing' started by Murphys Mike, Mar 19, 2018.

  1. Murphys Mike

    Murphys Mike Member

    Good morning!
    I have been looking for a place to sell some of my bullion collected over a few years. What I am being told is that at this time there are few buyers and if they are buying they are only paying something less than current gold prices. As an example, I was only offered $1,250 for American Eagle in 1 OZ.
    Has this been what you have found in your area?
    Thanks
     
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  3. Clawcoins

    Clawcoins Well-Known Member

    ProvidentMetals, in Dallas, buyback is currently about $1307 for a 1oz AGE. Spot $1314.

    You may get more if you sell to an End Buyer, versus a middleman who will want to make money on the transaction.
     
  4. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    Why would it surprise anyone that actual gold buying prices are soft right now? Gold has been chronically overpriced for several years. The new chief economic advisor, Larry Kudlow, is a strong dollar bull and precious metals bear. The fundamentals show hugely evaporating physical gold demand. What's the surprise?
     
  5. Bman33

    Bman33 Well-Known Member

    Silver is really soft right now too. Buy and sell premiums are both down. Don't get into the Au Ag mix if you can't afford to sit for years on it. Then, you will also realize your money would have been better off somewhere else!
     
  6. -jeffB

    -jeffB Greshams LEO Supporter

    Except: "buy when no one else wants it, sell when everybody does"...

    The problem is, you never know when (if ever) that day when "everybody wants it" will come. Buy too much stuff for an indefinite future, and the piles might collapse and crush you before you get to sell it.
     
    SLACKACTION likes this.
  7. TheFinn

    TheFinn Well-Known Member

    Same with anything; stocks, cryptos, Cap'n Crunch, etc. It is always a buyers' market.
     
  8. SilverMike

    SilverMike Well-Known Member

    I used to live there and had the best luck at Capitol Bullion on Burnet. They are straight shooters.
     
  9. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Many people don't realize this but everybody has to make money, or atleast
    Attempt to....LOL, that's from the refiners thru the middleman and finally to the
    dealers, but the process works in the reverse as they want to give you the least
    Money back for your PM,S when you go to sell, as repeated on this forum many times over buy as close to spot as possible many reputable dealers such as Provident Metals or JM Bullion offer great special with just a few dollars over
    Spot or in some case at spot, so its always good to check around.
     
    Clawcoins likes this.
  10. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    According to the news, Austin has more problems right now than soft PM prices.
     
    Nathan401 likes this.
  11. medoraman

    medoraman Supporter! Supporter

    Most bullion buyers are soft right now, because not a lot of physical demand. Normal market cycle that some claimed a few years ago would never, EVER return again. It is always in cycles. If you are a long term bull, try to push premiums lower than they historically have been the last few years. You will be surprised at how low you will be able to get some stuff today.

    I know I am adding to the pile in these markets.
     
    SLACKACTION likes this.
  12. sakata

    sakata Devil's Advocate

    APMEX's buy back price is listed at $1325 but that is only for transactions over $10,000.
     
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