Gold Coins where do they go
Submitted by yuengling on Sun, 03/09/2008 - 16:10
If we all go out and buy gold coins and gold goes up to 2,000 dollars an ounce why would a coin dealer buy them back?
Wouldn't he bankrupt his store doing such a practice?
If I have a bunch of gold and I decide to get rid of it three years from now who's gonna buy it back? The only conclusion I can come to is trading it or being stuck with it. I would think a coin dealer would only buy back the gold coins when gold drops to 300 an ounce.
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where do dollar bills go??
where do dollar bills go?? they go into bank accounts and become worthless because the crooked people in washington dc (district of corruption) print them, (counterfeit) to pay for promises and obligations that they don't have the money to pay for so they get reelected to office by idiot stooges who want a hand out from the government so they don't have to work! WAKE UP PEOPLE YOU HAVE BRAIN WASHED IN OUR GOVERNMENT MANDATED SCHOOLS! GOLD IS MONEY.. HAS BEEN SINCE MANS 1ST RECORDED HISTORY AND WILL BE TILL MAN IS NO MORE..
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Simple...
If gold is at $2000 an ounce, the market helped put it there. $2000 represents what the market is willing to pay for it. If no one is willing to buy it... the price -will- go down. On the other hand, even at $2000/ounce, there will be plenty of buyers expecting it to go even higher... and of course they'll want it.
Go out tonight and buy The
Go out tonight and buy The Creature from Jekyll Island by G. Edward Griffin. Or buy it on the internet. And read it, immediately.
Gold is money
ok, say you "buy" gold for $2000/ounce next month. Then in two years the "price" of gold "goes down" to $300 and in 2010 you "sell" your gold for $300/ounce. Did you lose $1700/ounce? Not really. In reality gold is much closer to true value than the fiat money dollar is. What really happened is the dollar, in this example, increases in worth from 1/2000 to 1/300. True, in this example you could have gained more if you'd kept your dollars until later, because the dollars gained value -- but this example is not reality. History has shown that fiat money like the dollar decreases in value over time, which is why something that sold for $20 in 1920 now sells for $950. The dollar changes value, not the gold.
Sure, the value of gold CAN change due to supply and demand like anything else, but it fluctuates a whole lot less than the dollar because the supply doesn't change much. Historically the only sound currencies have been based on gold or silver.
Gold Coins have Numismatist Value
And the easiest way to take a million dollars to a friends house and talk about your dreams or attract a mate for programmers.
"Walls are stronger than the men that defend them."
Ghegis Khan
"Walls are stronger than the men that defend them."
Ghengis Khan
Maybe this is where I drift
Maybe this is where I drift away from gold...
I have a mate, and she doesn't get much from gold either.
And my dreams?
My dreams are "worth" ever so much more than one million dollars in gold. I'm not sure all the gold in the world could represent a single one of my medium sized dreams, and I have two or three big ones cooking up right now.
Even though it's "strong" in the market place, gold just seems so "weak" to me right now. It might build you a nice firewall for a little while, but I've a feeling some new frequencies are coming through the airwaves, and even tin hats made of gold wont hold them off.
Walls are strong, but I'm fairly familiar with stories about walls.
Of course you are confused my brother
You have taken your perceived name of a son of God as your login - and the soft metal in your body that your enemy is feeding you daily is killing you. Turning you into a battery to destroy your own tissue and evidently brain cells by your posts. Poisoning you. Colgate Floride MFP, helps prevent cavities because you're dead.
And you have no hope to cross over with the soft metals in your body.
Now let's talk about the hard metals. These have value. The soft metals also have value and that is the irony of it all. Use the soft metals to power your car. Use the hard metals to build and trade. No need to kill trees and eat with chopsticks as long as you have a golden spoon.
Now Oil, that is garbage. Why are we using it?
"Weak and Strong" Just like the metals. You sound like you still value money. I don't. It is their God, not mine. The Gold is my way to interact with them without hurting their feelings.
"Walls are stronger than the men that defend them."
Ghengis Khan
"Walls are stronger than the men that defend them."
Ghengis Khan
with what the future holds
with what the future holds for people in this country and the world... without SILVER- gold your dreams will become nightmares!
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
you do not understand money
you do not understand money or what gold is....
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Gold is used in many applications
Such as medical instrumentation or scopes. XRay machines need gold - women like Gold. Gold can be used to make electrons follow. Gold is an amazing material since it also is not really solid, that is just your perception of it, it is not reality. In reality, it is a frequency, just like you.
"Walls are stronger than the men that defend them."
Ghengis Khan
"I've been told All that
"I've been told
All that glitter is not gold
And gold is not reality,
Momma, real is what you laid on me"
"is a frequency"
Not that I question this, but you'd think it would have a greater effect on me when in close proximity. I get little to nothing from gold.
There are so many more metals and minerals that do so much more for me and I find them far more "valuable" than gold. I think I get more of a "charge" imagining silver that I do gold.
Maybe I'm missing something?
"women like Gold"
Do they? Or do they like the things men do to get it?
I don't like Gold
I like the ocean. But Gold has oh so many useful applications, it would be on my list of things to have as I enjoyed my freedom working hard every day.
"Walls are stronger than the men that defend them."
Ghegis Khan
"Walls are stronger than the men that defend them."
Ghengis Khan
I ask this question a lot,
I ask this question a lot, and I'm still looking for an answer that satisifies my tiny little brain.
Aside from being the thing we arbitrarily chose to represent wealth here on earth, what else do we do with gold now days?
We can't eat it, build with it, or get high from it. It makes for a lousy weapon. I know they used to do all sorts of things involving gold and micro chips but I'm pretty sure we've found better metals for that stuff now.
Is gold only valuable because we all agree it is?
can you eat a dollar bill or
can you eat a dollar bill or build with it... it would be a much better weapon then a paper dollar, remember the golden rule... he owns the gold makes the RULES!
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Gold is valuable because it
Gold is valuable because it is durable and scarce.
Has anybody every mentioned to you that you seem a wee bit strange?
=P~
"Switzerland and that export
"Switzerland and that export increased greatly last year.
What are they doing with it???? hmmmm"
Switzerland is the only country in the world that backs its currency with gold. About 1/3 of it is backed by gold.
I believe that banking institutions are more dangerous to our liberties than standing armies.The issuing power should be taken from the banks and restored to the people to whom it properly belongs.
Thomas Jefferson
“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams
in order to have a oneworld
in order to have a oneworld government and a one world currency Gold has to be pooh poohed! ofcourse all the elite in the one world government will own all the gold!
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
The dollar is worthless.
The dollar is worthless. Every currency in the world is fiat money that I know. Gold could go to infinity if you think of it. What a shame to see all those jerks who have thummed their noses and had contempt for me fall into oblivion. Poor stupid saps.
Of course it is, ask the IRS and they'll tell you!
[See: IRC 165(g)(3)(B)]
Why Would a Dealer Buy Coins Back?
A coin dealer makes a small profit between what he pays for a coin, and what he sells it for. For example, if gold were selling at $1000 per troy ounce, he might be buying krugerrands for $1000 and selling them for $1025. Now, the price of gold relative to the dollar fluctuates. There is always someone who wants to buy, and someone who wants to sell. The gold market is an example of the free market. The only advantage of the dollar, is its liquidity. It's easier to make a purchase in a store with dollars, than with gold coins. But the dollars do not retain their value. The only way they could would be if they were redeemable in gold or silver.
So, since people are always buying and selling, whether the price of gold goes up or down (in relation to the dollar), the dealer always has a small spread between what he pays for gold, and what he sells it for. If the price of gold drops, he can buy more for less dollars. If the price of gold goes up, he can get more dollars for each coin.
Believe me, gold dealers are not going to go bankrupt. It is our economy that is crashing. Gold has retained its value for thousands of years.
This should be an up week for gold
Just buy it in small orders. Don't go hog willd. It's pulled back off the high so it may pop up this week. But it is going to be looking for a bigger pullback to shake out the weak holders who can't afford losses.
Nibble away at your budget. Be patient. Wait and watch.
Coin dealer always has a spread or margin. He also has steady demand. He knows it ain't going away anytime soon so he can roll with it.
"GINO" = Government In Name Only
I am selling some on Ebay
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=2002...
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=2002...
I'm just testing the waters to see how this goes. Of course, I set my prices to make a profit, but if the Buffalo sells at minimum, it is within line of current sell price with many dealers and the start for my silver eagles is below current market. I've also been buying a good bit of silver dollars and other 90% silver coins on ebay. Got a good deal (to me any way) on some Morgans today.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=3002...
yeah
yeah, ebays been good to me lately. got a few eagles today for under 20.00/ea shipping included!
I just
I just started buying precious metals (silver) for the first time ever today. I'll tell you it's addicting! I also noticed that the fed may lower interest rates a whole point in the next week. I'm assuming this will drive metal prices even higher
when you get your rebate
when you get your rebate check from the government I would use every dollar to buy as many ounces as possible!
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
look
Look in the phone book under neumismatic and you will find a place to buy and sell gold and silver. While you are there take a look at the very rare coins you may get hooked on buying them too
i wouldn't buy rare coins
i wouldn't buy rare coins unless you have lots of money... in depression times nobody will care about the numismatic value.. it will only be how many ounces is the coin!..
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Apparently
you don't understand the term "mark-up." I was buying junk silver and silver rounds a few years back. When I bought the silver rounds, I paid slightly more than the spot price for them. I asked the dealer at that time what I'd get for them if the spot price stayed the same and I walked in his store to sell them back tomorrow. I was quoted a price that was less than the spot price. They make their profits on the difference. Buy for less than spot and sell for more. They will buy it from you at slightly less than market and sell it for slightly more. That is why you can sell it back to them. You only gain when the spot price gets high enough to overcome the difference between what you bought it for and what you can sell it back for. The store owner only loses if the price drops AFTER he buys it back from you. If not, he just sells it to some other schmoe at a price slightly above spot and pockets a healthy 7-12 % profit. If the price is still on an upward trend and he holds it for a few days, well that only leads to a higher profit margin. When he "buys it back" from you, there is no "loss" no ,matter what he sold it to you as because it is a hard asset and he is buying it at a price that is just slightly less than it is actually worth. If I biuy something from you, whether I sold it to you 3 months ago at a much lower price or not, then buy it back from you at a price much higher, but still less than it is actually worth, have I lost anything? No, because I just bought it for less than what it is actually worth. In fact, I just made an instant profit, provided I can off it at what it is actually worth or more. Hope that makes sense.
Paul
It's like a transaction fee
Don't worry about it. Buy gold and hold it.
I understand that.
The original poster may not have. That is why I posted the story. It wasn't really a fee in my case, he just charged more than spot price to sell and paid less than spot price to but it from you.
Paul.