Red Pear Realty said:
When do y'all think we hit $3,000 gold?
February 28, 2025
Buying physical gold/silver
464,307 Views |
2741 Replies |
Last: 2 days ago by techno-ag
February 28, 2025
Been an ape since I first saw the Covid insanity. The time is now.
Let's go!
I've got a question for the brain trust… my stack of silver and gold isn't very large and I typically pick up bars or rounds every couple weeks off Reddit and the prices are usually a hair over spot. I had some time to kill today so I stopped in at a jewelry store that also says they're a coin shop. I inquired about silver and she brings a tray out with maybe 20oz on it and mentioned she's had these pieces for a while. Beaten up and ugly rounds and bars, nothing special. She said $39/oz. I offered to buy the whole tray for $35/oz (going price on Reddit for nice silver) and she said how could I do that with spot being $33?? I went up to $36 and she wouldn't budge so I thanked her for her time and left.
This is more of a curiosity and has my accounting brain swirling… if she's had this silver for a while, that implies her cost of goods is probably somewhere quite a bit less than where spot is right now. So why does it matter to her where spot is if she can make good margin on my offer of $35 or $36? And that she couldn't dare let go of the silver for less than $39 with spot at $33?
Like usual I'm probably missing something or uneducated on the subject. Hell she probably just doesn't want to sell it unless it's a ridiculous premium. Is there any other reason she just can't let it go for south of $39 that I may be missing? Once again, I'm just trying to learn something, I'm not upset or anything.
Quick edit… I'm not trying to assume I know how to run a coin shop. That's just the highest I've seen for ordinary .999 silver and she acted like I was threatening her dog.
This is more of a curiosity and has my accounting brain swirling… if she's had this silver for a while, that implies her cost of goods is probably somewhere quite a bit less than where spot is right now. So why does it matter to her where spot is if she can make good margin on my offer of $35 or $36? And that she couldn't dare let go of the silver for less than $39 with spot at $33?
Like usual I'm probably missing something or uneducated on the subject. Hell she probably just doesn't want to sell it unless it's a ridiculous premium. Is there any other reason she just can't let it go for south of $39 that I may be missing? Once again, I'm just trying to learn something, I'm not upset or anything.
Quick edit… I'm not trying to assume I know how to run a coin shop. That's just the highest I've seen for ordinary .999 silver and she acted like I was threatening her dog.
I'd say, in that scenario, her cogs/cost basis is irrelevant. She has every right to value her silver at today's market. That said, getting offended at a "low" bid is just silly.
K Bo said:
I'd say, in that scenario, her cogs/cost basis is irrelevant. She has every right to value her silver at today's market. That said, getting offended at a "low" bid is just silly.
Is "today's market" $6 over spot for that type of silver? Also just trying to learn here.
I don't know. My point is that her cost basis doesn't (shouldn't) matter in this scenario.FishrCoAg said:K Bo said:
I'd say, in that scenario, her cogs/cost basis is irrelevant. She has every right to value her silver at today's market. That said, getting offended at a "low" bid is just silly.
Is "today's market" $6 over spot for that type of silver? Also just trying to learn here.
Yeah fair point. In my opinion $6 over spot seems really steep if you're a serious seller, which may be the answer. She's not a serious seller which is totally fine.
Just didn't know if that's what to expect from local coin shops
Just didn't know if that's what to expect from local coin shops
Are we now buying and selling based on what we trying it'll be worth in the future? Should've spot be representative of this already?
I'd agree that she does not seem to incentivized to sell there if asking for $6 over spot.
$6 over spot is insane in todays market. My LCS has generic 1 oz rounds and 10 oz bars for $1.29 over spot. She isn't serous or she is ripping people off.
That's what I figured. Glad to hear all coin shops aren't like this.
Just go to https://texmetals.com/ Free shipping, Aggie owned, and always running some kind of special.
Pro College Station Convention Center
Apmex takes crypto payments
Yukon Cornelius said:
Apmex takes crypto payments
I've tried and it's always a nightmare. I think I was successful one time. I usually just give up.
I would never ever ever use my crypto to buy stuff since it triggers a taxable event.
The taxes aren't even the worst part, the real pita is the paperwork at tax time.
The taxes aren't even the worst part, the real pita is the paperwork at tax time.
Really? I find its incredibly easy vs doing a wire or ach
looking at your crypto triggers a taxable event.
Its a zero gain if you go from a trade then using it for a payment.
Its a zero gain if you go from a trade then using it for a payment.
Yukon Cornelius said:
Really? I find its incredibly easy vs doing a wire or ach
I have coinbase and try to use coin wallet or whatever third party app the seller has. It only worked one time for me.
I use bitpay.
Yukon Cornelius said:
I use bitpay.
Yeah, that's the one. I'm pretty computer literate and I cannot get it to work.
Hmm maybe they made it easier since you've used jt
Yukon Cornelius said:
Hmm maybe they made it easier since you've used jt
Maybe I'll try on the desktop rather than my phone.
I use it as a wallet. I don't connect a wallet to it. So if I want to buy something I'll just send the relevant amount to it vs trying to api a wallet
Aggiemike96 said:Red Pear Realty said:
When do y'all think we hit $3,000 gold?
February 28, 2025
Wrong.
I wonder how much impact these tariffs are going to have on silver prices. I bought a bunch of 1 ounce Austrian Philharmonics recently (on sale at APMEX) and bought some 10 ounce silver bars at Costco today (the price was good compared to what I saw on APMEX).
Apmex is very expensive on most things. They do have many items, however - more than other sites.
I have only bought gold or silver coins from APMEX that were the lowest price/ounce among the options they have available. I don't want to pay extra for collectability (not a coin collector, more like a stacker). At the end of the day, though, I'll pay a small premium because I trust them. Hope that trust never turns out to be misplaced.
I have used SD bullion, monument metals, JM bullion, and a few others. These are good and reliable sites.Buck Turgidson said:
I have only bought gold or silver coins from APMEX that were the lowest price/ounce among the options they have available. I don't want to pay extra for collectability (not a coin collector, more like a stacker). At the end of the day, though, I'll pay a small premium because I trust them. Hope that trust never turns out to be misplaced.
People continue to cash out of the S&P 500 and put their money in metals.
I am anticipating a good return over the next 4 years in gold in particular. Never thought that I would be a gold bug. Many thanks to the posters on this thread. Keep on stacking boys!
I am anticipating a good return over the next 4 years in gold in particular. Never thought that I would be a gold bug. Many thanks to the posters on this thread. Keep on stacking boys!
Been thinking about this video more and more
Bessent's interviews on Squawk Box and Economic Club of NY this week fall right in line with the macro picture in the podcast. They're not outright saying it, obviously, but the context of all the policy moves (monetary, tariffs and trade, defense) are exactly what you'd expect to happen for the type of economic pole shift described.
To boot, the biggest trading partners we have have, other than China, have all either been to the white house (Canada, Mexico, Japan, UK, France, India) or else we have had the VP and Bessent already 'coincidentally' go their country (France, Germany, Saudi).
Trading partners and the security blanket we provide are getting destabilized, reinforcing no idle threats.
China seems to be calling the bluff. Will be interesting to see how that plays out.
Anyways, until proven otherwise I'm operating under the assumption that a controlled devaluation of the dollar is the modus operandi.
To boot, the biggest trading partners we have have, other than China, have all either been to the white house (Canada, Mexico, Japan, UK, France, India) or else we have had the VP and Bessent already 'coincidentally' go their country (France, Germany, Saudi).
Trading partners and the security blanket we provide are getting destabilized, reinforcing no idle threats.
Canadians and Mexicans are boycotting American goods. China and Japan are selling off U.S. dollars and treasury bonds. Now Swedes are boycotting American goods in response to policy shifts by this U.S. government. There are indications this will spread throughout Europe.
— Dan_GT2 (@Dan_GT2) March 8, 2025
Long Main St.
— Chamath Palihapitiya (@chamath) March 9, 2025
Short Wall St.
The spread trade of our lifetime has started. https://t.co/bjHYmpgegK
China seems to be calling the bluff. Will be interesting to see how that plays out.
Anyways, until proven otherwise I'm operating under the assumption that a controlled devaluation of the dollar is the modus operandi.
It's been quiet, usually a good time to buy
This is panning out more and more.
Featured Stories
See All
33:14
2d ago
6.4k
4:57
1h ago
610
A&M wideout commit Aaron Gregory racking up preseason honors
by Jason Howell
5:08
1h ago
504
Defensive end Jordan Carter excited to work A&M's coaching staff
by Jason Howell
9:23
46m ago
352
Five in Five: Texas A&M players not being talked about enough
by Billy Liucci