Apmex only 1-2% over spot for 90%???Do They know something?

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jareksdad
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Apmex only 1-2% over spot for 90%???Do They know something?

Postby jareksdad » Tue Nov 07, 2017

Looked on apmex tonight and couldn't believe it was that cheap. Has sale banners on the 90% even as low as $10 face. Almost want to buy a $100 bag for curiosity of contents
Do they have a glut of it or are they trying to dump quick?
D

mishra142
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Re: Apmex only 1-2% over spot for 90%???Do They know something?

Postby mishra142 » Wed Nov 08, 2017

my guess would be that the metals market is so soft right now. Probably a glut of inventory. Everyone is on the bitcoin train.

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smackvay
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Re: Apmex only 1-2% over spot for 90%???Do They know something?

Postby smackvay » Wed Nov 08, 2017

I had 90 mixed halves up for 12.17 times face and it took a day to sell on here (walkers,franklin, and kennedys)
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DoctorMetal
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Re: Apmex only 1-2% over spot for 90%???Do They know something?

Postby DoctorMetal » Wed Nov 08, 2017

Whether or not any precious metals dealer knows something is an interesting question. Those who regularly participate in the selling and buying are often, in my opinion, oversensitive and unpredictable to market trends, crisis potentials, and speculative rumors. Like many here, I’ve tried to educate myself and sort out some reliable predictors; e.g., current events (my favorite is impending war or conflict); supply fluctuations (always a popular idea); globalist manipulation (and assorted conspiracy theories); and the ever-handy commodities comparison approach (USD/stocks/bonds/etc.). Perhaps there’s some investment firm that has the perfect algorithm for doing hedging or leveraging via salami-slicing; I don’t know. I doubt sellers like APmex put any resources into it. They probably just rely on standard market pricing principles. In their 15 years or so, they’ve tried (like a lot of big dealers) to have an educative function and be as transparent as possible (at least that’s what their website claims), but I haven’t seen much in this regard from them. They just sell, sell, sell. That focus is what makes them the biggest, and to their credit, they don’t sell water purifiers or ancillary products. I wish they would enlarge their supply offerings, however, and maybe get into publishing. I believe the industry would do itself a favor thru better dissemination of productive ideas about currency economics, wealth preservation, and prosperity in general.

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mnymgr1
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Re: Apmex only 1-2% over spot for 90%???Do They know something?

Postby mnymgr1 » Wed Nov 08, 2017

yes, markets are super soft
I've had a consignment of 90% here and locally, think I'm at 12.25x, and can't sell the balance.
with that being under melt, I think it is fair to say .999 being so close to melt from the likes of ebay is certainly hurting 90% prices.
I'd add that the whole ebay phenomena is hurting local storefronts to the point of no return, where many smaller ma & pa stores will be shutting down in the next couple years, unless we get a big run-up in metals. I've visited a couple stores around here, there is no foot traffic, no buyers and they are making profits only from the buyside. Larger dealers and wholesale D2D stores are still fine though.
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Rodebaugh
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Re: Apmex only 1-2% over spot for 90%???Do They know something?

Postby Rodebaugh » Wed Nov 08, 2017

My guess is: "90% don't fit in my digital wallet"

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mtforpar
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Re: Apmex only 1-2% over spot for 90%???Do They know something?

Postby mtforpar » Wed Nov 08, 2017

I have often wondered if I am a dinosaur in a new world. Let me expound. Will the next generation still have an appreciation for coins and coin collecting or will the move toward more and more digital transactions just add coins to the junk heap of former collectibles as the current generation of collectors die off without enough young blood replacing them?
Last edited by mtforpar on Wed Nov 08, 2017, edited 1 time in total.
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Re: Apmex only 1-2% over spot for 90%???Do They know something?

Postby Silver Addict » Wed Nov 08, 2017

mtforpar wrote:I have often wondered if I am a dinosaur in a new world. Let me expound. Will the next generation still have an appreciation for coins and coin collecting or will the move toward more and more digital transactions just add coins to the junk heap of former collectibles as the current generation of collectors die off without enough you blood replacing them?


There aren't many younger dealers at the coin shows. I'd say average age in 60+

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xelint
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Re: Apmex only 1-2% over spot for 90%???Do They know something?

Postby xelint » Wed Nov 08, 2017

Silver Addict wrote:
mtforpar wrote:I have often wondered if I am a dinosaur in a new world. Let me expound. Will the next generation still have an appreciation for coins and coin collecting or will the move toward more and more digital transactions just add coins to the junk heap of former collectibles as the current generation of collectors die off without enough you blood replacing them?


There aren't many younger dealers at the coin shows. I'd say average age in 60+


I would say that about almost any "collecting" type hobby/business except Pokemon cards and even that is not that young.

The generations coming up are not as into long term which is what collecting is about. They are looking for the instant gratification and convenience which Amazon/Ebay and the internet provide.

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jcz1
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Re: Apmex only 1-2% over spot for 90%???Do They know something?

Postby jcz1 » Wed Nov 08, 2017

Silver Addict wrote:
mtforpar wrote:I have often wondered if I am a dinosaur in a new world. Let me expound. Will the next generation still have an appreciation for coins and coin collecting or will the move toward more and more digital transactions just add coins to the junk heap of former collectibles as the current generation of collectors die off without enough you blood replacing them?


There aren't many younger dealers at the coin shows. I'd say average age in 60+


I don't remember if this was said about dealers, but it was certainly said about customers at the coins shows, way back in the 90's. All the magazines talked about it, I'm sure some of these can still be found online somewhere.

My guess is they said the same thing in the 70's too. It just seems that this hobby is mostly for the older folks, and has been that way for decades.

That doesn't mean it can withstand the complete removal of coins from everyday use, whether that is due to credit/debit cards and digital currency combining to basically replace cash transactions. I guess we'll know for sure in another 20 years. ;)
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spincity
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Re: Apmex only 1-2% over spot for 90%???Do They know something?

Postby spincity » Wed Nov 08, 2017

When one dealer drops the over spot price, the others have to follow or lose business. I see premiums dropping like rocks across the board. For anyone that has not noticed , its a buyers market. Its a great time to buy. Even Pinehurst is jumping in: https://www.ebay.com/itm/Daily-Deal-Lot ... 2f07279841
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