Catching a falling Knife
Posted:
Wed Jun 26, 2013 4:33 pmby Robarons
Local coin shop had 20 Franc .1867 Roosters for $240 each
I passed
The moral of the story is his bullion is 5% (excluding eagles) on his gold, he doesnt keep any in stock, but he had a random pile today.
Would you have bought some or all at $240 or 5% over?
Re: Catching a falling Knife
Posted:
Wed Jun 26, 2013 4:59 pmby beauanderos
5% over in
this market is not reasonable. I think you'd be lucky to get two percent
Re: Catching a falling Knife
Posted:
Wed Jun 26, 2013 10:38 pmby Robarons
I agree
But most dealers locally deal in margins of 5 to 10% over spot- and the current gold prices dont help either. With sharp corrections to the down side immediate supply is wiped out and premium tend to notch up. Also to point out I am only talking about gold, I think takes longer to adjust to this period especially talking about European Fractionals, etc.
Other than Bullion stacker where I have seen cleaned and damaged coins go for 2-3% over and some bars, where are you seeing gold thats reasonable to spot?
I thought roosters for 5% seemed reasonable