Interesting comment from a gold/silver dealer today

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TMCD75
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Interesting comment from a gold/silver dealer today

Post by TMCD75 » Mon Aug 10, 2015 4:51 pm

A fairly prominent dealer I talked with today told me silver is flying out of his shop. He said he's having a hard time just filling orders. I don't know what if anything this could mean but I definitely took note of his comments.

I did buy some silver and gold today from him...it's awesome to own this stuff because you can stare at it and play with it. I bought the South African gold kruegerrands.

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happyisland
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Re: Interesting comment from a gold/silver dealer today

Post by happyisland » Mon Aug 10, 2015 5:00 pm

No way! The guy who sells silver said that silver is in high demand right now? :D

surfstar
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Re: Interesting comment from a gold/silver dealer today

Post by surfstar » Mon Aug 10, 2015 5:07 pm

I can only guess what your car salesman friend will tell you tomorrow!

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cheese_breath
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Re: Interesting comment from a gold/silver dealer today

Post by cheese_breath » Mon Aug 10, 2015 5:10 pm

I'm getting a cat. I can stare at it and play with it, and it stares back.
The surest way to know the future is when it becomes the past.

jackholloway
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Re: Interesting comment from a gold/silver dealer today

Post by jackholloway » Mon Aug 10, 2015 6:31 pm

Actually, it is a good time to buy silver compared with last year. The price is down to 15.

Of course, if you run your chart out a decade, it looks like an awful time.

Most people at my local coin store do not seem to have any sense of historical prices.

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TomatoTomahto
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Re: Interesting comment from a gold/silver dealer today

Post by TomatoTomahto » Mon Aug 10, 2015 6:46 pm

The barber told me today that I need a haircut, which is strange because I'm mostly bald.
Okay, I get it; I won't be political or controversial. The Earth is flat.

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Re: Interesting comment from a gold/silver dealer today

Post by Pizzasteve510 » Mon Aug 10, 2015 6:53 pm

I read that some Krugs are getting drilled and filled. Have you weighed them to confirm they are unaltered?

EnjoyIt
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Re: Interesting comment from a gold/silver dealer today

Post by EnjoyIt » Mon Aug 10, 2015 6:56 pm

About a month ago you wee talking about buying a few American Buffalos. Did you make that purchase as well?

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InvestorNewb
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Re: Interesting comment from a gold/silver dealer today

Post by InvestorNewb » Mon Aug 10, 2015 7:01 pm

Silver has a 5-year return of -20%. Enough said...
My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest)

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Dutch
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Re: Interesting comment from a gold/silver dealer today

Post by Dutch » Mon Aug 10, 2015 7:03 pm

InvestorNewb wrote:Silver has a 5-year return of -20%. Enough said...
Buy low?

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Re: Interesting comment from a gold/silver dealer today

Post by Browser » Mon Aug 10, 2015 7:39 pm

cheese_breath wrote:I'm getting a cat. I can stare at it and play with it, and it stares back.
:D :D :D I can't help it. After reading this thread and going on to other business I kept laughing like an idiot thinking of this post. Had to come back to see if I can get over it.....
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Re: Interesting comment from a gold/silver dealer today

Post by MrBachelor » Mon Aug 10, 2015 7:48 pm

I can corroborate OP story. My dad is a gold and silver dealer doing $1.5-2MM per year in sales. He told me last week that silver has been a hot sale the last month or so. His restock order is about 8 weeks out. No idea what is causing the demand but it is there.
Phylomath

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Re: Interesting comment from a gold/silver dealer today

Post by Browser » Mon Aug 10, 2015 8:06 pm

Keep this under your hat:
Based upon the same methodology we used to identify the tops and bottoms in gold, it is suggesting that silver will be heading toward the $1000 an ounce region within the next 50 years.
Forget about whether $100 silver is possible — how about $1,000?

Unfortunately, I'll probably be too dead by then to spend my gains. :-(

http://www.marketwatch.com/story/forget ... 2015-07-30
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TMCD75
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Re: Interesting comment from a gold/silver dealer today

Post by TMCD75 » Mon Aug 10, 2015 9:54 pm

Enjoyit,
I haven't bought the Buffalo coins yet but did look at one today. I decided on the Krugerrands because they were $25 dollars cheaper. I'm going to buy a couple of the American Eagle and buffalo coins soon though.

John3754
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Re: Interesting comment from a gold/silver dealer today

Post by John3754 » Mon Aug 10, 2015 10:02 pm

What % over spot did you pay?

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TMCD75
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Re: Interesting comment from a gold/silver dealer today

Post by TMCD75 » Mon Aug 10, 2015 10:23 pm

I paid a 4% premium, which isn't too bad. People regularly pay much more than that.

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Re: Interesting comment from a gold/silver dealer today

Post by LadyGeek » Mon Aug 10, 2015 10:24 pm

This thread is now in the Personal Consumer Issues forum (coins, mostly).
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EnjoyIt
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Re: Interesting comment from a gold/silver dealer today

Post by EnjoyIt » Mon Aug 10, 2015 11:25 pm

MrBachelor wrote:I can corroborate OP story. My dad is a gold and silver dealer doing $1.5-2MM per year in sales. He told me last week that silver has been a hot sale the last month or so. His restock order is about 8 weeks out. No idea what is causing the demand but it is there.
If everyone is buying, doesn't it actually mean it is now time to sell? Kinda like the shoe shine boy talking about stocks.

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gasdoc
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Re: Interesting comment from a gold/silver dealer today

Post by gasdoc » Tue Aug 11, 2015 7:29 am

MrBachelor wrote:I can corroborate OP story. My dad is a gold and silver dealer doing $1.5-2MM per year in sales. He told me last week that silver has been a hot sale the last month or so. His restock order is about 8 weeks out. No idea what is causing the demand but it is there.
After seven days of stock market declines last week, people are again looking for alternative places to put their money. First they look at gold, and see that it has decreased since its bubble-ish highs. Then they look at silver becuase of all the new TV adverstising. No telling what will be next....

gasdoc

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nisiprius
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Re: Interesting comment from a gold/silver dealer today

Post by nisiprius » Tue Aug 11, 2015 8:03 am

The humblest citizen in all the land, when clad in the armor of a righteous cause, is stronger than all the hosts of error. I come to speak to you in defense of a cause as holy as the cause of liberty--the cause of humanity. At the conclusion of this speech, a bill shall be introduced requiring the Secretary of the Treasury to fix the values of gold, silver, and bitcoin permanently in the ratio 16:1:25, their intrinsic relative values as established by natural law...
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

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Re: Interesting comment from a gold/silver dealer today

Post by FuzzyButtons » Tue Aug 11, 2015 8:41 am

cheese_breath wrote:I'm getting a cat. I can stare at it and play with it, and it stares back.
At least gold has a chance of appreciation. I've owned cats for years and as far as I can tell they've never appreciated anything. :P

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Re: Interesting comment from a gold/silver dealer today

Post by Browser » Tue Aug 11, 2015 8:56 am

FuzzyButtons wrote:
cheese_breath wrote:I'm getting a cat. I can stare at it and play with it, and it stares back.
At least gold has a chance of appreciation. I've owned cats for years and as far as I can tell they've never appreciated anything. :P
:D :D :D These cat jokes are killing me...
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Re: Interesting comment from a gold/silver dealer today

Post by barnaclebob » Tue Aug 11, 2015 9:04 am

What % of the silver market is consumers buying coins? It could just be that there are plenty of gloom and doom fools willing to buy the coins but the ETF markets and banks are just such larger volume players that it doesn't matter.

heyyou
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Re: Interesting comment from a gold/silver dealer today

Post by heyyou » Tue Aug 11, 2015 9:12 am

I might purr if I was petting a bag of gold and silver, but my cat would sniff it and walk away.

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Re: Interesting comment from a gold/silver dealer today

Post by Jack FFR1846 » Tue Aug 11, 2015 9:34 am

Just a datapoint because I look at Apmex all the time. $38.99 over spot for krugerrands. I'm not buying myself, but the site is easy to check.
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Crow Hunter
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Re: Interesting comment from a gold/silver dealer today

Post by Crow Hunter » Tue Aug 11, 2015 9:44 am

nisiprius wrote:The humblest citizen in all the land, when clad in the armor of a righteous cause, is stronger than all the hosts of error. I come to speak to you in defense of a cause as holy as the cause of liberty--the cause of humanity. At the conclusion of this speech, a bill shall be introduced requiring the Secretary of the Treasury to fix the values of gold, silver, and bitcoin permanently in the ratio 16:1:25, their intrinsic relative values as established by natural law...
Man, Bitcoins have apparently been available longer than I imagined.

:wink:

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Re: Interesting comment from a gold/silver dealer today

Post by SimonJester » Tue Aug 11, 2015 9:51 am

Cats are evil, they sit up high on a shelf looking down at you and thinking evil thoughts. Or they hide under bed waiting for you to walk by and scratch your bare legs.

As for silver, no thanks it tarnishes too easily, stick with tulip bulbs. My florist said they are in high demand right now.
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

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Re: Interesting comment from a gold/silver dealer today

Post by Clever_Username » Tue Aug 11, 2015 9:55 am

EnjoyIt wrote:Kinda like the shoe shine boy talking about stocks.

I remember the Police Squad! television show. The shoe shine boy knew everything.
gasdoc wrote:First they look at gold, and see that it has decreased since its bubble-ish highs. Then they look at silver becuase of all the new TV adverstising. No telling what will be next....
Bronze, obviously... :)
"What was true then is true now. Have a plan. Stick to it." -- XXXX, _Layer Cake_ | | I survived my first downturn and all I got was this signature line.

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