Posts

My last gold purchase has lost a bit of value. (not)

avatar of @tbnfl4sun
25
@tbnfl4sun
·
·
0 views
·
2 min read

My last post about gold was a story about being careful when getting gold mailed to you from an online source.

(ME AND MY DOGE)

The price in dollars has fallen about $50 dollars per ounce since I made that purchase. Most people look at the spot price of the precious metals when they determine how much their stack is worth. So as an example, here are the two gold eagles I got from S.D. bullion.com

At the time of purchase I paid about $2,000 per coin, that was including shipping and insurance. So $4,000 for two gold Eagles shipped to me. Looking at the price below, that means even when the manipulated (IMHO) spot price on the Comex went down, the premiums went up because there is very limited physical supply on the retail side. In fact, these coins are mostly sold out and you can't even buy the other years right now.

Quantity Check / Wire Bitcoin Credit / PayPal
1+ $2,069.59 $2,090.49 $2,155.82 (Source) https://sdbullion.com/2020-1-oz-american-gold-eagle-coin-bu (Why must I pay so much more using Paypal?)

The same purchase would now cost me over $4,300 using Paypal as I did. I believe that this will continue to get harder to get these in the future and the value will only go up from here.

The same thing is happening with silver and platinum. The silver spot price is $27.59 but the real price is $32 and close to $40 dollars if you can find eagles. The same with platinum, the spot price is $1,260, and the price to get a coin is north of $1,500!

This is what will happen when the next market crash happens, the spot price will crater from people that have to sell for liquidity and margin calls. This can be misleading due to the rising premiums that show the real market for precious metals.

The moral of the story is to buy the physical metal, not the fake paper contracts.

@mariosfame @krunkypuram

Posted Using LeoFinance Beta