Idle Saturday thoughts: There's a sales thread where the asking is a little less than 2 oz at spot, and it's proving hard to move. So being very positive about future prices, and hoping to actually sell some metal at some future time, how big is too big? Can't sell a quick two ounces at spot plus, then how quickly will one ounce move at the same price? I can actually foresee sovereigns coming in at around $700 each in future - very movable. But that puts ounces around $2600. Is it going to be easier to find 4 people with 700 versus one person with 2600?
lol after all the spam I pretty much read the title and had it pegged 10oz lunar coins are my limit to BIG
Used to regularly see 2 ounce coins snapped up on here. I suspect the problem is no one seems to have any money anymore. We're in the middle of a recession after all.
I wouldn't worry too much, Julie There are goldbuyers in Sydney who will pay spot. Situation should be similar in Melbourne; just a matter of pounding the pavements until you find a good dealer.
If you have a receipt from a recognised bullion dealer...for https://www.youtube.com/watch?v=jNEKhxvEvlc is all you need.
There has to be a sweet spot at various price points. If prices rise too much then anything over a kilo is going to be a tough sell I think, at least under the radar. Round fifties may be the everyday sweet spot for fast sales if prices skyrocket.
No way Pete...when the market moves...any size bar moves. GP moved some pretty big stuff the other year and got a crook back / complained.
^^^^^ This... remember when silver was going nuts in 2011? People wanted to snap it up and new members didn't hesitate to pay well over spot. I reckon same thing will happen with gold when the market moves upwards.
Anecdotaly at the moment I'm trying to convert some smaller sized items in gold/silver and into larger bars there's not a lot of interest
People are tired of buying only to see it drop further. Lots of negative, bearish sentiment on futures. EDIT: which I find pretty funny - these are great prices IMO
I've moved a bit of stuff lately and found it easier to sell fractional coins and raw semi-numis rather than larger items (in both gold and silver). As clawhammer said, people haven't got much money. If gold does reach heady heights then your market for large bars or coins (and I'm talking 1 oz and over, maybe even 1/2 oz :/ ) is going to be severely restricted and you are probably going to have to accept dealer's prices, or spot prices plus a tiny premium here - not to mention the lag between listing and selling. If the SDHTF, small fractional coins and wearable jewellery may be the items in highest demand.
I agree, recognizable bullion will sell instantly at spot in any quantity. Go to 2% under spot and even the smaller dealers will help set up just about any sized deal for you. My local dealer is small but will take tens of Kilos a week if they can, they will make $500 flipping a Kilo bar. Because behind them is a physical market chain with an insatiable global appetite for gold, especially as the price rises. When the price rises they get repeated calls from refiners wanting more stock, they tell me at those times it becomes even more of a sellers market. A few years ago when gold was spiking high my local dealer commented "gold is more liquid than cash right now!" I can see however that person to person deals could be a different story, finding the right someone can be tricky and advertising to everyone that you have gold is risky, especially when it spikes up.
I have faith in Silver and Gold. Silver to Gold ratio makes Silver very attractive. Last month I saw For Sale of 2 100oz PM Silver Bars SOLD in ONE DAY in PERTH. Correct me if Im wrong. Lets stay optimistic as physical Silver cant be printed, you have the metal you have the last say whether to sell or keep. Happy Stacking!
I'm a proponent of gold fracs either roos or lunars, they sold very easily when I last liquidated but the 10 oz bars went for spot in sydney
Sentiment on precious metals is down, way down, in most camps. Coupled with the fact that 1) many people just don't seem to have as much disposable money as they once did when the economies of the world were better and 2) there are so many similar products available to chose from, could be the reason why you are not seeing what you are expecting to see in terms of buying. Has anyone but me noticed that the GSR has been on a bit of a ride down lately? .
I'm usually a regular buyer of fifties but after my South America trip, I've been concentrating on my building up my cash reserves. Once done, I'll keep buying again.
The only thing that limits my size is my wallet. The parliament building in Manitoba Canada has a Golden Boy on top that is covered in 24K gold. The statue is 5.25 meters (17.2 ft) high and weighs 1650 KG (3640 lb). I'm sure I could find storage space.
I'd like this in the Family Room. Source: The Golden Buddha, with a weight of 5.5 tons (5,500 kilograms), is located in the temple of Wat Traimit, Bangkok, Thailand.