PERTH MINT WAS MENTAL TODAY!!

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danodp

New Member
I bought a few KGs this morning as I managed to convince the Mrs it was cheap at the mo.....

People were cueing out of the door into the main foyer from the bullion room!! Whats going on? I saw people from all walks of life walking out with bags or small bits of bullion!

Is this normal?

Dan
 
I was in early & spot on SS said $28.39 & PM said $29.00. Waited 40mins & it finally changed to $28.80. What a croc. Fair market price plus fabrication is fine but 45mins to update spot then only drop 20c is not fair market price. Pointed it out to staff & they looked it up online & agreed it was lagging in their favour.
 
STC said:
I was in early & spot on SS said $28.39 & PM said $29.00. Waited 40mins & it finally changed to $28.80. What a croc. Fair market price plus fabrication is fine but 45mins to update spot then only drop 20c is not fair market price. Pointed it out to staff & they looked it up online & agreed it was lagging in their favour.
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nothing new there,still perth:)
 
If you go across the street to the little coin shop, you can lock it in with him and skip the line up. No ID and discount on some stuff. takes two to 3 days to get it.
 
was there too backing up my new truck...those people lining up were helping me to load up. Great buy..more to come in the coming months. Just a tip. Lol
 
valuecreator said:
If you go across the street to the little coin shop, you can lock it in with him and skip the line up. No ID and discount on some stuff. takes two to 3 days to get it.
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No ID on purchases in general or no ID on sales over $5000?
 
goldpelican said:
valuecreator said:
If you go across the street to the little coin shop, you can lock it in with him and skip the line up. No ID and discount on some stuff. takes two to 3 days to get it.
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No ID on purchases in general or no ID on sales over $5000?
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never did more than 5k there but that's what he says. PM prices anyways.

I'd rather buy from one of the sponsor sites myself.
 
I'd be interested to hear from online bullion dealers if their has been a flood of buying with the drop in spot OR just a bit busier than usual OR no change ?
 
Matthew 26:14 said:
I'd be interested to hear from online bullion dealers if their has been a flood of buying with the drop in spot OR just a bit busier than usual OR no change ?
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my source was extremely busy on friday...people just could not wait for the store to be open:) but I got the best of it at the end of the day:)
 
Matthew 26:14 said:
I'd be interested to hear from online bullion dealers if their has been a flood of buying with the drop in spot OR just a bit busier than usual OR no change ?
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Honestly, I think it would have been insane!

I had two orders with Bullion Bourse, once at $29.XX and then again at $28.XX. I didn't click the hold option on my first order to combine shipping for multiple orders, do I emailed the team at bb and they replied to a volley of emails quicker than usuall, I believe its abit easier because they aren't running the shop during the holidays but they are running the online. So, I think they would be getting smashed but it's good timing for them to be able to handle it.

As for other online dealers, I tried putting in a few orders but shopping carts/trading was down, so either they are getting more business than they can handle, or, they are closing up shop due to low spot killing their margins( as others say) which doesn't make sense to me, because they can just put in their orders to hedge against purchases at lower prices, maybee even order more to sell at an even higher spot price
 
^ Assuming a dealer re-orders from the mint at the same time an order is purchase, and the mint is not increasing their margins, then the spot price is irrelevant to an online dealer (with the exception of the first stock they ever purchased).
 
Well, it seems like there's a dip around the end of the year, might have to do with the holidays, who knows. This dip is a bit more exaggerated and I'm pretty sure all dealers have done well this past week. Very curious to see what's in store for us next week.

Ah, and the bullion room in the Perth Mint. Reminding me of the good old 'gold counter' we used to have in banks. Paper for plastic for electronic digits these days ... what a mind *&$%.
 
danodp said:
I bought a few KGs this morning as I managed to convince the Mrs it was cheap at the mo.....

People were cueing out of the door into the main foyer from the bullion room!! Whats going on? I saw people from all walks of life walking out with bags or small bits of bullion!

Is this normal?

Dan
Click to expand...
It was so busy becasue it was the final day before closing until after the new year, that and prices went down alot. Abc was also alot busier than usual with people coming in and out soem even having to wait outside until people left.
 
It's also because:
-Christmas attracts people to buy gifts (including PM's)
-the prices are lower now (similarly to late 2011)
-people have more time now than when they're working (outside holidays), so they buy

In January we'll see higher prices. :rolleyes:
 
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