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With enormous spreads maybe it would make sense to trade among ourselves
Posted: Fri Mar 27, 2020 9:24 am
by Libertarian666
Hi all,
I'm not buying or selling anything right now, but dealer spreads on coins are enormous right now at 10%+.
So maybe if someone on the board needed to sell some gold, it might make sense to sell it to another member who is interested in buying.
Comments?
Re: With enormous spreads maybe it would make sense to trade among ourselves
Posted: Fri Mar 27, 2020 9:34 am
by dualstow
viewtopic.php?f=5&t=5715&p=185400&hilit ... od#p185371
(after the original post linked (bedraggled's thought), scroll down to Sophie's reply and more)
Re: With enormous spreads maybe it would make sense to trade among ourselves
Posted: Fri Mar 27, 2020 9:38 am
by dualstow
Despite my thoughts above, I bet some of you could pull it off. Maybe you could do it with people who have been around for a year, or five years, to minimize fraud but at the same time avoiding someone's feelings getting hurt.
• Actually the best way would be to do it by pm with someone you already trust.
Re: With enormous spreads maybe it would make sense to trade among ourselves
Posted: Fri Mar 27, 2020 9:39 am
by ochotona
Libertarian666 wrote: ↑Fri Mar 27, 2020 9:24 am
Hi all,
I'm not buying or selling anything right now, but dealer spreads on coins are enormous right now at 10%+.
So maybe if someone on the board needed to sell some gold, it might make sense to sell it to another member who is interested in buying.
Comments?
Great idea! We all know who we are. But I can't imagine anyone is a seller now.
Re: With enormous spreads maybe it would make sense to trade among ourselves
Posted: Fri Mar 27, 2020 10:24 am
by Libertarian666
ochotona wrote: ↑Fri Mar 27, 2020 9:39 am
Libertarian666 wrote: ↑Fri Mar 27, 2020 9:24 am
Hi all,
I'm not buying or selling anything right now, but dealer spreads on coins are enormous right now at 10%+.
So maybe if someone on the board needed to sell some gold, it might make sense to sell it to another member who is interested in buying.
Comments?
Great idea! We all know who we are. But I can't imagine anyone is a seller now.
I don't think anyone is going to
want to sell, but they might need money.
Re: With enormous spreads maybe it would make sense to trade among ourselves
Posted: Fri Mar 27, 2020 10:35 am
by Libertarian666
From a cursory check, it looks like it might be possible to use Paypal for such transactions while protecting the buyer and the seller.
The seller would have to pay 2.9% + $0.30, no fee to the buyer if they use a bank account to fund the purchase.
Re: With enormous spreads maybe it would make sense to trade among ourselves
Posted: Fri Mar 27, 2020 10:44 am
by yankees60
dualstow wrote: ↑Fri Mar 27, 2020 9:38 am
Despite my thoughts above, I bet some of you could pull it off. Maybe you could do it with people who have been around for a year, or five years, to minimize fraud but at the same time avoiding someone's feelings getting hurt.
• Actually the best way would be to do it by
pm with someone you already trust.
And, that, of course, is whoever owns a dog or a cat!!!!
Vinny
Re: With enormous spreads maybe it would make sense to trade among ourselves
Posted: Fri Mar 27, 2020 11:17 am
by ochotona
After a T-Note matures on 11/30/2020, I'm a buyer at spot. But maybe premia go back to normal by then. Who knows? I think these premia are a really interesting sentiment indicator. I'm going to start tracking them, just once a month. Right now 9% to buy a 2020 CML at Tex Precious. But out of stock!
Re: With enormous spreads maybe it would make sense to trade among ourselves
Posted: Fri Mar 27, 2020 11:27 am
by Libertarian666
ochotona wrote: ↑Fri Mar 27, 2020 11:17 am
After a T-Note matures on 11/30/2020, I'm a buyer at spot. But maybe premia go back to normal by then. Who knows? I think these premia are a really interesting sentiment indicator. I'm going to start tracking them, just once a month. Right now 9% to buy a 2020 CML at Tex Precious. But out of stock!
The premium on something they don't have doesn't mean very much.
US Gold Bureau (
https://www.usgoldbureau.com/2020-1-oz- ... le-coin-bu) has Eagles in stock at $1824, which is about an 11.5% premium. They are buying at $1659, which means a buy/sell spread of just about 10%.
Re: With enormous spreads maybe it would make sense to trade among ourselves
Posted: Fri Mar 27, 2020 11:31 am
by ochotona
APMEX .9999 1 ounce CML any year 7.8% premium