Trigger Mike 1,264 Posted August 20, 2011 Share Posted August 20, 2011 thought I'd call and see how much a local gold coin store is paying for the 1 ounce gold Buffalo, 100 below spot, that is a HUGE spread as he sells it for 75 above spot. said he is afraid gold prices will fall soon. Link to post Share on other sites
Marshal Mo Hare, SASS #45984 7,892 Posted August 20, 2011 Share Posted August 20, 2011 He's in business to stay in business, not a big risk taker. Link to post Share on other sites
Big Jake1001 184 Posted August 20, 2011 Share Posted August 20, 2011 At those spread prices, he's not getting any of my business. Just sayin' Big Jake Link to post Share on other sites
Trigger Mike 1,264 Posted August 20, 2011 Author Share Posted August 20, 2011 At those spread prices, he's not getting any of my business. Just sayin' Big Jake needless to say I stayed home and did not go. he has done fair in the past. oh well. he does better during the week, he uses the weekend to say he fears a drop on Monday. I took a couple of rusty grills and other scrap to the local yard and got a few dollars instead. Link to post Share on other sites
Muleshoe Bill SASS #67022 443 Posted August 21, 2011 Share Posted August 21, 2011 Local place here is paying about 80% of spot. Guess I'll keep these gold fillings and teeth awhile. Link to post Share on other sites
Utah Bob #35998 17,965 Posted August 21, 2011 Share Posted August 21, 2011 Being dumb and poor,I have no idea what spot is. Other than a dog. Or maybe where you put the marker for your golf ball. Link to post Share on other sites
Guest jeweler jim Posted August 21, 2011 Share Posted August 21, 2011 Bob, Spot is the going price for the metal. http://www.kitco.com/market/ If you try the link you'll find the market or "Spot Prices" as it moves around the world markets. Average pricing as has been discussed or cussed on a couple of other threads is 10% below and above for the buy sell on the metal. Have a couple of preferred customers that I sell to at spot as we take in the pure stuff. Call them after a buy and they show up the same day to take possession of whatever it was we took in that we notified them about. This does not take into account for the collectable stuff as that goes at a "premium" and hopefully it is certified to avoid the argument about grading the condition. The last two years the metals market has... Been berry berry good to me! Link to post Share on other sites
Wolfgang, SASS #53480 294 Posted August 21, 2011 Share Posted August 21, 2011 Coin stores I've done business with have generally been buying "bullion coins" ( one oz. gold eagles, etc. ) for "spot" and selling them for $ 75 above "spot". Don't know what they may be doing right now as I'm not in the market to either buy or sell for the moment. "Spot" price being the price of bullion pr oz. on the major markets at any given moment. Link to post Share on other sites
Marshal Mo Hare, SASS #45984 7,892 Posted August 24, 2011 Share Posted August 24, 2011 today "100 below spot" looks like it was not conservative enough. Link to post Share on other sites
Noz 2,036 Posted August 24, 2011 Share Posted August 24, 2011 Bob, Spot is the going price for the metal. http://www.kitco.com/market/ If you try the link you'll find the market or "Spot Prices" as it moves around the world markets. Average pricing as has been discussed or cussed on a couple of other threads is 10% below and above for the buy sell on the metal. Have a couple of preferred customers that I sell to at spot as we take in the pure stuff. Call them after a buy and they show up the same day to take possession of whatever it was we took in that we notified them about. This does not take into account for the collectable stuff as that goes at a "premium" and hopefully it is certified to avoid the argument about grading the condition. The last two years the metals market has... Been berry berry good to me! In other words the gold isn't more expensive, the dollar is just worth a lot less. Man, How is that "Hope and Change" working for you? Link to post Share on other sites
Trigger Mike 1,264 Posted August 24, 2011 Author Share Posted August 24, 2011 In other words the gold isn't more expensive, the dollar is just worth a lot less. Man, How is that "Hope and Change" working for you? I'm hoping for a change from "Hope and Change" Link to post Share on other sites
Wolfgang, SASS #53480 294 Posted August 25, 2011 Share Posted August 25, 2011 I'm hoping for a change from "Hope and Change" Me too . . . . Re Gold . . . It's doing as I expected. I figur it'll drop to about 1,750 and stabalize about there. Link to post Share on other sites
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