Trip to the gold store today

[Alexx1401]

I thought I was getting a good deal when I bought some at high 1600 and under 1750.

I passed on selling some when it went up to 2,074 OZ

Gonna play the waiting game

Unless the price went just insane I do not plan on selling. Its for me just a way to keep some cash on hand in case we have a good crash. Now if it tripled in price all of a sudden? It would be tempting to take the cash then. I am sure some do buy and sell chasing a profit. Has to have been a few who did make some good money when it went crazy all of a sudden in the past.

 

[.45's and .38's]

Yes even at 2100 I didn't want to sell

Good to keep on hand

 

[Richo877]

I'm a big advocate for brick and mortar. I've recommended these guys before, and probably will again. If you're in the metro area, they've got a few locations.

AJPM - Main Page (Buy & Sell Gold & Silver Bullion)

AJPM - The best prices to buy & sell Gold & Silver bullion online. Up to the minute pricing to help you Buy & Sell Gold & Silver online. Phone: 1-503-227-4653

www.ajpm.com

They don't buy and sell coins based off of numismatic value, just deal in metals, so not a typical coin shop. Really decent bullion price spreads, though. They sold one of their locations years ago and that location, under new ownership, is similar in pricing on most things.

Center Street Gold and Silver | Gold Buyer | Silver Buyer | Palladium Buyer| Tigard, Or

Center Street Gold & Silver is located in Tigard Oregon we specialize in buying and selling gold, silver, platinum and rare coins. Formally known as AJPM2

centerstreetgoldsilver.com

Again, in the Portland-metro area, but I'm sure there are other places like them around that are better for cash in hand transactions.

 

[Bacchus]

Silver Gold Bull price for 1 oz gold bar: $1946.
AJPM price: $1910.

Gainesville Coins price for $1000 (face value) of junk silver: $18890.
AJPM price: $17910.

Yep, good prices at AJPM!

 

[Bacchus]

I watched a YouTube video that claimed the premium markup on junk silver back in March of this year was 100%, substantially more than the 40% I saw today online.

 

[Alexx1401]

I watched a YouTube video that claimed the premium markup on junk silver back in March of this year was 100%, substantially more than the 40% I saw today online.

Have to "guess" this is like most things, supply / demand? If enough people are willing to pay that much then I guess that's what it will sell for? Again I really don't quite "get" the point of buying old coins with no real "collector" value for more than chunks of silver but, hey I'm real new at this.

 

[Richo877]

Doing a quick ebay search (always higher prices than local markets and delayed from market dips due to locked in bids) on sold listings for junk silver, I'm seeing listings going around $21 per $1 face value. Nominations combined to make $1 contain .715 ozt actual silver weight (Actual pre '65 dollar coins contain .7734 ozt actual silver weight). Current spot is around $22 as of this post. People have been actively paying (at $21/$1fv for .715ozt) $29.37/ozt which is a 33.5% markup, but it's not that unusual for the ebay market to be significantly higher, due to the aforementioned, but also because of accessibility for a lot of people. Most places and/or private party sales are not nearly as inflated. At the end of the day, though, nobody sells at the spot price (whether it's .9999 or .4). Everything on the market is spot+$3 or spot+$5, sometimes more depending on the "brand". The actual silver melt value of $1fv (.715ozt assumed at $22 spot) is currently around $15.73. At spot+$3 (which is a relatively reasonable market ask) the price would be about $17.87/$1fv. And if you ever find someone willing to sell you metals at spot price, take it off their hands.

 

[Bacchus]

Silver Gold Bull is advertising $1 face value of 90% silver dimes for $18.78.

SGB dimes

Except that when you click on the link it says they're out of stock.

Reminds me of the joke about the customer who walks into a motorcycle shop and asks the owner how much are their helmets. The owner replies, "$150." The customer says, "Well, the shop down the street is selling theirs on sale for $120." The owner replies, "So go buy from them." The customer says, "They're out of stock." The owner replies, "Well, I sell mine for $100 when I'm out of stock."

 

[Alexx1401]

Speaking of metal, JM has a sale going on right now. You can get silver for $1.99 oz over melt. Free ship if you buy $200. I just added some more to my pile.
I don't have anything to do with JM, only know from dealing with them since I started buying and so far never a problem.

 

[Bacchus]

I saw a couple YouTube videos that claim that for the last week silver prices are tanking, as in down 10% in a week. If that is true, it might be worthwhile to hold off on buying.

 

[arakboss]

I saw a couple YouTube videos that claim that for the last week silver prices are tanking, as in down 10% in a week. If that is true, it might be worthwhile to hold off on buying.

 

[Alexx1401]

View attachment 1734186

The lowest I have paid was just over $20 and highest (so far) just under $25. Since I only buy a couple hundred at a time I have never paid much attention to fluctuation. Only thing I look for is lowest premium. I am sure some must by in LARGE lots and do watch that price. If I was buying those Kilo bars I know I would

 

[wired]

Interesting as the relative value of the dollar has dropped ( inflation ) the price of gold went up a little then has gone back down to the 1840 ish level. While the gold to dollar ratio has stayed pretty consistent over the last year the value of gold to goods ratio has declined with the dollar.

 

[Jay Walk]

If you purchased gold five years ago you are up 40%
If you invested in the Dow Jones, you are up 26%

 

[Certaindeaf]

If you purchased gold five years ago you are up 40%
If you invested in the Dow Jones, you are up 26%

On paper, in part. The gold doesn't reflect transactional costs of buying and then selling.
On the other hand, market transaction costs are zero.

 

[Alexx1401]

On paper, in part. The gold doesn't reflect transactional costs of buying and then selling.
On the other hand, market transaction costs are zero.

MANY seem to not stop the "think" about that, the cost of moving in and out of investment. For those who are in something long term does not really matter. For those trying to make bucks going back and forth they do of course have to consider this part. LOT would also of course have to do with how much. Selling a few ounces of gold for profit or selling 100's of them at a time.
I often think it would be kind of fun if one of the kids ever comes needing a loan from the bank of Mom &Dad again. Hand them some silver and say, "coin place down the road will give you cash for this."

 

[Bacchus]

Kitco page containing arakboss' chart:

Kitco historic silver prices

You click on any chart (30-day, 1-year, etc.) to expand it. You get to this page by clicking on 'Silver' on the posted spot prices on the site opening page.

Hopefully, if spot prices keep going down the premium doesn't go back up.

 

[Bacchus]

MANY seem to not stop the "think" about that, the cost of moving in and out of investment. For those who are in something long term does not really matter.

I saw a video where the author said he didn't even view his gold and silver as an investment, just as "savings." That works too.

 

[Alexx1401]

I saw a video where the author said he didn't even view his gold and silver as an investment, just as "savings." That works too.

That is all mine is. When I first stared doing it while back it was due to the printing of free money turning into a cascade and it finally did what all of us knew it would. Watching money that was set aside for "just in case" going down in value and fast. Finally figured WTF have I got to lose trying some of this metal stuff. Same with the stock I have. Seldom even look to see what its doing. Have not sold in a LONG time. It too is there for a later in life or just in case. If I live long enough to actually quit working? I may be interested in doing some kind playing with this stuff to try to make a buck. Right now zero interest in even trying to find out how

 

[parallax]

Question, sorry if has been covered. When a person buys or sells gold or silver from a store is there a form sent to the government about the transaction? My friend has inherited a large amount of coins , but is now not sure how to eventually turn it into cash to distribute to her family . ,, tax liabilities…