Gold and silver prices are down

[Individualist]

Did ebay do away with eBay buck bonus awards? That was awesome!!!

Back in the earlier days eBay and Bing had crazy high percent cash back deals that you could stack. Also didn’t charge tax back then and shipping was way cheaper. A lot of folks loaded up on coins and bullion routinely way under spot before they eventually wised up and killed it. It was a good run though.

 

[richc]

Back in the earlier days eBay and Bing have crazy high percent cash back deals that you could stack. Also didn’t charge tax back then and shipping was way cheaper. A lot of folks loaded up on coins and bullion routinely way under spot before they eventually wised up and killed it. It was a good run though.

I know... eBay helped fund my PM's and gave me $2K/year for free!

 

[richc]

I did buy a one ounce 2021 American Eagle today and paid too much. But... my daughter is expecting our first grandchild in May and this is for my future granddaughter!

 

[DJBrad]

Wow, bears failed again to break $1800. They’ll probably dump $150 million on the futures market tonight. Too many failed attempts and this correction will be over.

Don’t you mean bulls?

 

[Varmint]

Don’t you mean bulls?

no I mean $1800 held again. Intra day move below doesn’t mean much. Need to close the week above $1800 though.

 

[not new guy]

I did buy a one ounce 2021 American Eagle today and paid too much. But... my daughter is expecting our first grandchild in May and this is for my future granddaughter!

I sold off some BTC and rolled it over into a buffalo (which, along with the St Gaudens, is one of my faves). I got one last year too thinking 2020 might be the year it all came crashing down (and what better memento than a gold coin with the year stamped on it). Hopefully 2021 is the year.

 

[Varmint]

I got a MS64 St Gaudens I can’t afford. Had $100 EBay bucks expiring.

 

[richc]

I sold off some BTC and rolled it over into a buffalo (along with the St Gaudens, one of my faves). I got one last year too thinking 2020 might be the year it all came crashing down (and what better memento than a gold coin with the year stamped on it). Hopefully 2021 is the year.

I LOVE the St Gaudens. Likely the most beautiful coin every created in the US. Stunning piece of art.

 

[not new guy]

It certainly is - and I just realized my post made it sound like I bought 2 coins when I was really just saying I like the St.Gs too, not that I actually bought one today.

I'm a huge fan of the buffalos though. The size, color, engraving - they're beautiful coins.

 

[richc]

It certainly is - and I just realized my post made it sound like I bought 2 coins when I was really just saying I like the St.Gs too, not that I actually bought one today.

I'm a huge fan of the buffalos though. The size, color, engraving - they're beautiful coins.

Yeah, they are 100% gold and the color and appearance is superior to American Eagles. They sparkly, much like the gold Canadian Maple Leaf.

If only I had started buying years ago...

 

[Varmint]

Yeah, they are 100% gold and the color and appearance is superior to American Eagles. They sparkly, much like the gold Canadian Maple Leaf.

If only I had started buying years ago...

Buffalo is my favorite also, have only 1. Almost got one this week but the St Gaudens was on sale and only $80 more.

 

[DJBrad]

Buffalo is my favorite also, have only 1. Almost got one this week but the St Gaudens was on sale and only $80 more.

I’ve got 10 Buffalos and the relief is pretty sweet. Excellent cut and design although my couple Maple Leafs have phenomenal relief as well and are just a bit higher end. All Microsoft cashback and no tax during the Ebay buyathon of 2008. One coin I bought was delayed and the seller sent me a free 1 Oz Silver Buffalo as an apology.

 

[Varmint]

I’ve got 10 Buffalos and the relief is pretty sweet. Excellent cut and design although my couple Maple Leafs have phenomenal relief as well and are just a bit higher end.

Yeah like Rich said I love the color. The Kruggerand is my least favorite, must have copper in it.

 

[richc]

When gold finally takes off I bet that PCGS rated St Gaudens at MS65 sell for $4-5K. The premium for the PCGS guarantee will be substantial IMHO.

 

[Varmint]

When gold finally takes off I bet that PCGS rated St Gaudens at MS65 sell for $4-5K. The premium for the PCGS guarantee will be substantial IMHO.

My kids will appreciate that!

 

[DJBrad]

When all the talk of fake silver coins popped up in your FB post @richc I had to go check mine again. Lol

My Buffalos came in the US Mint sheets which have since then started to delaminate.

 

[n1oty]

I grabbed an MS63 St Gaudens for $2128.13 on JM Bullion just now. I wanted a graded coin, so I got a graded coin.

 

[Varmint]

I’ve got 10 Buffalos and the relief is pretty sweet. Excellent cut and design although my couple Maple Leafs have phenomenal relief as well and are just a bit higher end. All Microsoft cashback and no tax during the Ebay buyathon of 2008. One coin I bought was delayed and the seller sent me a free 1 Oz Silver Buffalo as an apology.

Thats awesome, I got great deals from Microsoft Bing cashback in stuff like camera lenses but gold and silver weren’t on my radar back then. That didn’t really happen til 2016 when I got a job with lots of driving and I started listening to podcasts.

 

[Varmint]

I grabbed an MS63 St Gaudens for $2128.13 on JM Bullion just now. I wanted a graded coin, so I got a graded coin.

Nice! The MS64 I got two days ago has come down $50 along with gold. Good deal now at $2145 plus $21 Bucks. But I had to use my Bucks before they expired.

$20 Saint Gold Double Eagle MS-64 NGC/ PCGS (Random) | eBay

Ancient Coins. Gold Bars 1 oz Gold Bars Fractional Gold Bars. Gold Rounds. Silver Bars 1 oz 10 oz Kilo 100 oz. Silver Rounds. Pre-33 Gold is popular amongst collectors for its beloved designs. Display your certified Gold Eagle in style by adding a beautifulpresentation box to your order.

www.ebay.com

 

[Varmint]

Did ebay do away with eBay buck bonus awards? That was awesome!!!

They still have it, but it’s typically 3 or 5%, and the number of coins that qualify has been greatly reduced. The bigger problem is of course the high prices of gold and silver, and high premiums!

 

[DJBrad]

A cursory search for Buffalos on Ebay yielded 43 hits with some pretty high prices for the MS70’s- $2500+ I wonder if there is some shortage? Of course mine are 2008 and have that beautiful burnished color.

 

[Varmint]

Watch for gold bears to pull the same trick they tried last Sunday night, pick a quiet time to sell millions in futures contracts at once to force the price down and try to trigger automatic stop losses.

This is obvious manipulation, you don’t sell $75 million at once if you’re trying to get a good price for it. You’d only do that to intentionally drive down prices. But since it’s likely a bank or big hedge fund, the SEC is cool with it.

 

[Varmint]

A cursory search for Buffalos on Ebay yielded 43 hits with some pretty high prices for the MS70’s- $2500+ I wonder if there is some shortage? Of course mine are 2008 and have that beautiful burnished color.

Yes, there’s a shortage of retail gold and silver. Both got cleaned out this weekend and this week.

 

[DJBrad]

Yes, there’s a shortage of retail gold and silver. Both got cleaned out this weekend and this week.

No doubt. Heavy bidding on the 1 Oz silvers.

 

[not new guy]

Thus the high premiums.

 

[not new guy]

Bloomberg article on premiums from last March, saying 5% over spot for an eagle and commenting on how high that is:

Gold Coins Have Never Sold at Premium This High for So Long​

Bloomberg - Are you a robot?

An eagle on Apmex is $1967 (check price). Spot is $1795. $172 premium, so almost 10%.

 

[ASHDUMP]

2023 American Gold Buffalo 1 oz Gold Coin | Scottsdale Mint

Shop 2023 American Gold Buffalo 1 oz Gold Coin from Scottsdale Mint.

www.scottsdalemint.com

 

[Canndo]

I just spent a whole hour looking at 1oz gold bullion. I haven’t bought since it was $1265.
I’m going back to looking at guitars.

 

[DJBrad]

2023 American Gold Buffalo 1 oz Gold Coin | Scottsdale Mint

Shop 2023 American Gold Buffalo 1 oz Gold Coin from Scottsdale Mint.

www.scottsdalemint.com

Great price compared to EBay.

 

[DJBrad]

I just spent a whole hour looking at 1oz gold bullion. I haven’t bought since it was $1265.
I’m going back to looking at guitars.

I have guitars for sale

I paid around $900 for my Buffalos back then.