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Who’s Buying & Who’s Selling?


Serendipity

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Gold is gleaming on an all-time high. Who’s buying and who’s selling? I’m definitely still buying. In fact, I’m upping my stakes to a 2oz gold coin along with the 1/4oz Queen’s Beast that comes out next month. I’ve got a solid foundation of silver, sovereigns, 1/4oz and 1oz gold coins behind me.

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After a big high generally comes a big crash.

My strategy is buy steady amounts as always each month, but sell what I bought at around £750 - £800 spot between 2012 and 2015 making a good few hundred £ per oz profit, and when the crash does come - buy big again 🤪

💷 💷 Check out my Wanted adds and message me direct if you can help 💷 💷 

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I am doing a bit of both, I have sent a Britannia to HGM today. Mainly because the price of gold is nearly the price of a cheap family holiday and that is where the money is going. If I look at the sheet then technically the coin cost me £743 delivered, we will see what spot does tomorrow as to the return, though obviously my average for gold is higher now. I intend to buy the ounce back at some point, most likely I will be buying another queens beast this year. 

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Well I'm fairly new to buying PM and my budget doesn't quite extend to 2oz pieces yet, and my stack is modest.

I decided in terms of collecting a theme I would go 1/4oz Queens Beasts. @Lindeman got me going with a lovely lion. I too was planning on getting the new QB 1/4oz but who knows what the price will be by the time they release them.

At today's price or slightly over 1200 I'd probably still buy QB's (with a premium) cause I want the collection. If I was buying any thing else though I'm not sure, passed on Tuesday on a common sovereign I would of bought for 285 as wanted to see what Wednesday's Fed announcement would do.

@SerendipityAt what price would you not make that purchase? What if gold was above £1800 next month (I dunno trump starts a war with Iran or Johnson goes mad and suspends parliament)?

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Fairly new to PM too, so holding still right now - partly due to being ahead of schedule on both gold and silver stacks, partly due to lack of funds/career change (teacher training starts September, with a nice tax-free bursary). Well, not a 'true' lack of funds but I don't want to eat into the easy access 'rainy day' fund and end up losing out by quick selling in an emergency.

Unlikely to be selling anything anytime soon, stacking for the long-term, might pick up some fractional gold (probably 1/4 or sov) later this month/September when a bit of cash is due in. 

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I have bought quite a lot of numismatic coins in the past, then decided to concentrate on bullion weight alone, bought 45 grams this week but I think I will hold back and hope it settles down. At the same time I don't want to miss the boat if it continues to rise. Decisions, decisions. 

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i have never sold any of my precious metal so i must be buying.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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I have been selling a significant quantity of gold taking advantage of the recent rises.
Some gold I bought many years ago is making a decent return but other stuff is barely covering initial cost.
I decided to try and get out of collecting proofs and proof sets.
When I originally purchased my Britannia and sovereign sets I was paying on average 15% over spot for these beautiful sets.
Now I am breaking them up and having to sell the larger sized coins for less than spot with no value whatsoever attached to the FDC condition of the coins.
I have a quantity of empty proof boxes that I might hand to a mate to list on eBay for me.

I have way too much silver that I bought when the price was eye-watering high that I cannot sell without massive losses.
If I didn't hold this silver I would definitely be accumulating bullion gold like sovereigns, avoiding any fancy stuff.
Also aim for the 24ct coins rather than the 22ct as you do get a marginally better price selling to HGM for example.
I've dipped into Platinum as it was once more precious than gold but the ratio to gold has reversed in a big way.
Got to avoid the 20% VAT on Platinum though so suppliers are generally in Europe but post Brexit that might be an issue for us.
 

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15 minutes ago, sixgun said:

i have never sold any of my precious metal so i must be buying.

LOVE that

 

33 minutes ago, adamthetaller said:

 (teacher training starts September,

Good luck, 

 

I have been buying recently but tapped out as we speak. I have managed to get some great pieces at good prices. Just sold the one item so far recently (qb Griffin 1/4oz) to aid a purchase of the same weight but  with less premium. 

Focus has been mainly on au but topping up on Ag with a few pick ups via the forum helps me to balance it out slightly.

I will be in the Buyers market all the way up to £2k and then take a new approach after that.

 

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I leave on vacation tomorrow but I'm not selling anything, in fact it gives me a chance to see what's available in shanandoah for sale silverwise, might have to drive back with a few extra ounces of silver or grams of gold, and taking my metal detector with me, there is history up there like a landfill...lol.

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Buying mainly silver, as it is still below my target prices. I hope I will reach my stack goal before it goes higher. 

I am a little puzzled with gold. Was slowly building my stack, with plans to increase buying next year. But the recent spike has made me pause a little and reconsider. Not sure if I should continue or speed up with silver and see what happens with gold. 

I am also collecting some numismatics or half numismatics. More slowly now and have reduced the number of series. Will keep this slow and go for it stronger when spot prices will be outside my target limits for bullion. Numismatics seem less affected from spot variations. 

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1 hour ago, DarkChameleon said:

you're in britain...gold.might shoot up

if the pound drops from brexit.

depends if you think Brexit will be good or bad , I don't believe all the fear around leaving the EU and I think it will do are economy good, much more worried about the USA and China trade war ,  

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8 hours ago, darrol said:

I am not buying much gold  , I think there is a good chance  gold with probably drop next year to lower levels  so I am holding off most investments until then .

See problem is that I didn't hear they are going to stop printing press. World economy doesn't look grate as well. 

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Found one or two very good UK deals on gold proof collectables in the last few weeks, i think many potential buyers are maybe keeping their money for a rainy no deal Brexit day so sellers having to drop prices to move them on in some cases.

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I am not buying gold while gold spot, gold to silver ratio and gold to oil ratio are at their current levels. 

I'm happy to continue purchasing limited amounts of silver while gsr is over 80 and there are QBs to collect. 

Trying very hard to talk myself into buying my usual a tube of 2019 silver Britannias. Don't have any yet this year and it is the most beautiful Britannia for years. 

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Would like to purchase some gold cos I got a bad feelin' this gold run is only getting started.  Hoping for a drop to below £1,000 an ounce next year might be a pipe dream.  I got a feelin' we may see £1,500 next year.  Lots of things don't seem right ever since the bank crises.  Now I'm reading about big interest rates cuts again.   Look at the price of crypto's.  

Sell, not a chance.

 

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I have been moving out tonnes of my premium Silver and moving it into fractional Gold or high premium stuff I can get at bullion prices. On average this,allows me to either break even or make a small profit to reduce the premium on Gold due to Brexit. 

If serious gold bullrun is underway, it may be a multi year run and I expect Gold to hit 1700 usd, and a no deal Brexit will get us to £1500 as early as October imho. So although am not happy paying current prices, am doing whatever I can to average my Gold buys down.

with Silver I suspect we are aiming for the £15-16 mark again, so am buying up to the £14.50 mark: just picked up 100,oz at £14 which is already worth more. Luckily with spot so high, my regular bullion dealers are swamped with stock allowing me to be more discerning about what I buy. Picked up 2 Timothy Noad sovs and 3 2002 shields at spot. Premium straight out of the door. Picked up,some lower mintage stuff too. 

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On 01/08/2019 at 18:29, RichmondStacker said:

I had a big holiday at the start of the year so pushed my gold bullion purchases back, now the time has come in my budget for gold it spiked.  I’ll hold off for a month or so and look out for some more US junk silver and 1oz bars.

US junk has gone from $110 to $ 140 so better get in quick, I'm settled at $100 face at 90%, the rest bullion and collector.

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