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PhilB
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Posts posted by PhilB
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18 hours ago, Tn21 said:
Can I ask from which dealer?
Spanish caballo cartajano also available from Bullion by post. Mine arrived today to meet up with its lynx and toro pals. Beautiful reverse proof finish. Beats the royal mint proof quality in my view, with a much lower premium than the R. M. Proofs. Lovely coins!
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On 13/04/2024 at 07:42, KitchenCollector said:The question is, If I were to start listing these coins (at reasonable prices - spot for bullion and a small premium for QB's), would I find many buyers, or would they sit unsold as people wait for a pull back on gold price?
What do you think?
I don't fully understand everyone fixation with the premium above or below the spot price. It's the sale price that is most important rather than the premium.
I view the premium or discount to the spot price as the physical markets real world adjustment to the artificial derivative price of spot, which is simply a futures price for immediate delivery. It therefore removes the time factor from the price of a futures contact on a commodity, in this case gold.
The adjustment factor known as premium, whilst of some interest is much less important than the Gbp:gold ratio, often refered to as price of gold, but really just the number of currency units required in an exchange for physical gold.
The factor of greater importance than premium, is the realisable amount of currency for your physical gold asset. It is currently around 1900 gbp per oz whilst 2 months ago lovely buffalo's and other 1oz coins were not selling even when priced at £1650 or even less, and would have be less from dealers no doubt. As we have recently had a significant jump in price to ATHs in the 1900s, ie approx +15% - regardless of any spot comparison or premium comparison.
My view is that if currency is required to move on in life with the purchase of a first home, then take the best price available for each particular coin or group of coins and move on with a smile on your face at the ATH realisable price. Premium/discount and spot comparison is not all that important in the big scheme of things, and will likely not be a decision that you regret regardless of the future gold price, once you have purchased you first home!
Dont miss the wood for the trees my friend, and best of luck with your home purchase and gold sale deliberations.
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Lovely piece of history from the middle of the Klondike gold rush era!
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4 minutes ago, Zhorro said:
It this were correct then the paper to gold ratio would have deteriorated, which is not the case. These figures on the USA Debt Clock have remained fairly stable over the past few weeks.
U.S. National Debt Clock : Real Time (usdebtclock.org)
By paper I mean paper gold ie gold futures contracts. Not fiat paper notes. I'm not familiar with the graphic you show. You may be right but I don't believe physical buying ans selling sets market price
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47 minutes ago, Zhorro said:
I'd be happier if I knew who was selling and why.
It's the trading in the paper markets that affect the spot price not physical trading. It's the tail of the spot paper comex market wagging the physical market dog. We physical buyers use the futures price with an applicable premium to set price. The paper futures traders do not refer to physical buyers regarding market price. Recent action upwards is cause by short covering, as the short traders who find their positions underwater who no longer believe they will get the chance to buy back the short sold contract, who are covering their short positions and therefore effectively buying 'paper gold ' causing a short squeeze with other shirt positions. This will lead to traders going long a some point, pushing the spot price further higher. 😊😊
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46 minutes ago, silversky said:
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Below 2400 usd. The traders don't know the gbp exists! They are the ones pushing the market around. Tail wagging the dog.!
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Well hello again Mr Slammy. Friday again is it??
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14 minutes ago, Paul said:
is £1900oz going to be breached tomorrow ??
I doubt it. Feels a bit of a stretch from here. Few days muddling in the 1850 - 1885 range before possibly a bigger move up or down. No crystal ball sorry it's just what my waters are telling me!
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5 minutes ago, silversky said:
Quick poll...
Up, Down or Neutral by the end of the week? Neutral defined as between 1832 and 1870. Up as >1870, Down as < 1832
Neutral
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On 06/04/2024 at 15:29, Malthus101 said:
£260 + £5 P+P
bump price drop for last coin - thanks
You could always do others the courtesy of responding to pms and requests to buy the item that you have up on your sales thread. Now that I see it has turned up on 'Today I received' you may wish to mark this sales thread as completed and the item as sold. Just a little bit of common courtesy does not cost anything. P. S. I like many others prefer to do business with members who will respond. Thanks you.
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43 minutes ago, bluemoon said:
This comment on LinkedIn was interesting. Anyone done this? I assume you would need a way to get Russian rubles?
"If you hate buying gold at the top, change your money to Russian Rubles and buy your gold at 20% below the high point. It’s still early."
The quip Clive Thompson is making in his own ironic style is that Gold is not making all time highs in every currency. The Rouble to gold exchange rate is not at its ATH due to its earlier very weak period od exchange following the strict sanctions applied following the Ukrainian invasion./ special operation. It's a statement reflecting more on the strength/volatility of the rouble than on the gold price.
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On 07/04/2024 at 07:29, BillShutter said:
A not very Bullish price in todays market? 🤭
Haha nearly missed the punchline!
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I'll take the bull of Clarence if in excellent condition, if available please. Only one side pictured above. Thanks
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I love my 14 Yr date run. Though Possibly one missing? - maybe i look into that! They display really well in the glass corner cabinet 😁 Enjoy!
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3 hours ago, ConorCoins said:
Them elephants look like my next purchase. 🙂 I will pm you now
Good choice. Always high quality from the Munich mint. 👌
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On 03/04/2024 at 23:26, arphethean said:
The price of new silver from dealers will be determined by factors far bigger than the secondary market going rates. Cost of mining, refining, electricity, shipping, waste recovery etc etc etc. All of these factors are opaque and will have an influence on spot. The price of an ounce to a big dealer (who will have multi million £ annual contracts with mints and refiners) could be as little as spot plus 1% for all we know. Or why not even less? They add their margin and 20% on the whole. Their margin will be dictated by whatever their customers will pay but everything else is affected by macro factors.
When price of spot is below cost of production then miners lose money and share prices leverage the change in gold.or silver bullion price declines. Similarly they have approx 2x leverage when prices are rising, or more accurately margins are expanding as costs also rise but hopefully slower than spot price received by the miners/refines.
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Whilst I agree with your secondary market v primary silver price analysis, your comments re mining and refining costs affecting spot price are the opposite of reality in my view.
The paper silver or gold market is the tail wagging the bullion price dog. Prices of both silver & gold are not currently rising because there are more coin and bar buyers than sellers. We are all exchanging bullion at higher prices now due to the change in spot price, which is pushed around by that paper pm traders/hedgers /speculators.
The recent rapid price rise, in my opinion is primarily caused by the paper shorters reducing the number of short contracts by buying back the paper bullion. Hence buying. This will be followed by the long speculators and hedgers increasing their long positions, effectively buying more of the the precious metals. Then finally it will be Followed by metals investors buying the physical, which will potentially push up premiums rather than affecting the paper derived spot price.
Commitment of traders report analysis and commentary by Adam Hamilton at zeal llc and others brought me to this view of price action.
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Beautiful coin. I would buy one if I didn't have one!
what was your first silver buy
in Silver
Posted
Not sure I believe you! You missed the best days tho..........
Sovs for £82-85! And they even seemed cheap back then!!