9/23 QUICK coinshop report

[JJ.G0ldD0t]

:o

It was CROWDED- lots of old folks SELLING...

The guy in front of me brought in a mix of Krugs and GAE's - looked like about 10 of em. Sold em all.

Felt weird - like everyone was watching me as I rummaged through the generic silver..

[1970 silver art]

I talked to 1 coin shop this morning on the phone and they were about to run out of silver. I went to an other coin shop after I left work and they had no silver bars. 2 strikes and I am out for today.

[JJ.G0ldD0t]

Mine had a BOATLOAD of art bars artie....

I was picking out all the englehards

[1970 silver art]

Mine had a BOATLOAD of art bars artie....

I was picking out all the englehards

Darnit!!!!!! I wish that my local coin dealers had a boatload of silver art bar but unfortunately they did not have silver art bars that I wanted. Bummer...............

EDIT: I might have to see if there is a coin show nearby to travel to this weekend.

[LuckyStrike]

It was CROWDED- lots of old folks SELLING...


I don't understand people who buy PM's then sell after a 30% price decline.

Either they are people who bought above 30 and want to sell before they lose too much $$, or people who bought under 30 and want to take profits. But people who have been buying for several years you would imagine they have a better understanding of the silver market than those who bought in the last few months. Makes no sense to me.

Buy high sell low, not a recipe for success.

[JJ.G0ldD0t]

I don't understand people who buy PM's then sell after a 30% price decline.
...
Buy high sell low, not a recipe for success.

I was shocked... I was going to joke with the coin guy - "you mean you're OPEN today?!"

lol

I guess he knew better - he expected his inventory to grow.

Re: the old folks -

I sort of figured when I came in that these were seasoned metals bugs that had come in to buy the dip.

WRONG. I was pretty bumfuzzled.

[JJ.G0ldD0t]

Darnit!!!!!! I wish that my local coin dealers had a boatload of silver art bar but unfortunately they did not have silver art bars that I wanted. Bummer...............

EDIT: I might have to see if there is a coin show nearby to travel to this weekend.


lol - I was thinking of you as I waded thru them.

[madfranks]

I don't understand people who buy PM's then sell after a 30% price decline.

Either they are people who bought above 30 and want to sell before they lose too much $$, or people who bought under 30 and want to take profits. But people who have been buying for several years you would imagine they have a better understanding of the silver market than those who bought in the last few months. Makes no sense to me.

Buy high sell low, not a recipe for success.

Ignorant folks who see gold and silver simply as any other investment, stock, bond, etc. They see the dip and panic thinking it's going to fall lower and decide to take their profits in dollars before they lose any more. Folks like us who understand the fiat game and the timeless value of gold/silver think it's stupid to sell right now.

[Joe King]

It's just the


http://www.bbc.co.uk/devon/farming/images/cows_herd_lead.jpg

Mentality

[solid]

Ignorant folks who see gold and silver simply as any other investment, stock, bond, etc. They see the dip and panic thinking it's going to fall lower and decide to take their profits in dollars before they lose any more. Folks like us who understand the fiat game and the timeless value of gold/silver think it's stupid to sell right now.

Exactly, and add in the folks that think gold could be a bubble because of mainstream stupidity, they want to get out before the bubble 'bursts', which they think might be happening now.

I'm seriously tempted to buy again. I see this drop as an opportunity for us little guys to add to the stack some more. If silver drops to the mid 20's, I'd like that very much.

[1970 silver art]

Ignorant folks who see gold and silver simply as any other investment, stock, bond, etc. They see the dip and panic thinking it's going to fall lower and decide to take their profits in dollars before they lose any more. Folks like us who understand the fiat game and the timeless value of gold/silver think it's stupid to sell right now.

These are also the same people who will pile on gold and silver because it is going up and they are chasing % returns. The tech and dot-com stock bubble of 1999 comes to mind when I think of that.

[mamboni]

Ignorant folks who see gold and silver simply as any other investment, stock, bond, etc. They see the dip and panic thinking it's going to fall lower and decide to take their profits in dollars before they lose any more. Folks like us who understand the fiat game and the timeless value of gold/silver think it's stupid to sell right now.

Who was it who said: "A fool and his gold are soon parted."

[StreetsOfGold]

MY dealer tells me that everytime the price drops, people come in to sell and when the price rises, they come in to buy. I looked at him like ?? huh? makes no sense and he gave me that "I know" look but that's just how it is. I cleaned him out of all his silver bars about 70 oz total :)