Downgrade Weekend: Coin Shop Reports?

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#1 Sat, Aug 6, 2011 - 2:20pm
TheYeomanFarmer
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Downgrade Weekend: Coin Shop Reports?

I'd be really interested in hearing from anyone who's visited a coin shop this weekend, in the wake of the S&P downgrade news. Have prices remained steady? Seem any more crowded than usual? Are vendors saying anything about changes in business this weekend?

I haven't been to a shop this weekend, but was struck by the very small quantity of many common gold bullion items listed for sale on Nucleo. No full ounce Krugs or Kangaroos at all right now, just one full ounce ingot, few full ounce Maples, and the only full ounce Phil is WAAAAAAY over spot. Seems almost like the sellers are waiting to see what happens when the markets reopen.

Edited by: TheYeomanFarmer on Nov 8, 2014 - 5:04am
Sat, Aug 6, 2011 - 2:43pm
Captain Benny
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Not sure about the coin shops

But I've seen a few 100oz silver bars disappear off APMEX this weekend. I haven't been keeping an eye on gold over there, but I'm sure gold is outselling silver this weekend.

Sat, Aug 6, 2011 - 4:27pm
Captain Benny
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Update

I saw what looks like a single order for 20 100oz Englehard bars go through on APMEX. It was in between a five minute interval when I was checking their inventory so I'm pretty sure it was a single order. Just warming up, I bet Sunday will have more orders.

Sat, Aug 6, 2011 - 4:38pm (Reply to #3)
lilbromarky1
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empty.

empty.

Like my ideas? Check our blog at: https://backtobasicseconomics.blogspot.com/
Sat, Aug 6, 2011 - 4:40pm (Reply to #4)
kenklave
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Empty of people or product?

Empty of people or product?

Sun, Aug 7, 2011 - 10:48am (Reply to #5)
John Galt
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In Toronto I went to visit a

In Toronto I went to visit a coin store yesterday and they had just been cleaned out of the last of their silver Maple Leafs. Towards the end of the week the buying tide accelerated, they told me, but they have noticed more buying shift into Gold as compared to several months ago.

All in all their inventory was lighter than usual, although they did show 2 x 1000 oz bars of silver when they usually have 0 to 1 in stock.

Without question the buying is steady, and I continue to notice that most buyers are of European background - likely with ancestry that has experienced economic collapse and/or currency devaluation before. Most people I know who do not have this kind of history are clueless as to what's coming.

"So you think that money is the root of all evil. Have you ever asked what is the root of all money?"
Sun, Aug 7, 2011 - 12:48pm (Reply to #5)
lilbromarky1
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kenklave wrote:Empty of

kenklave wrote:
Empty of people or product?

People. Just me and the owner chatting about debt downgrade for an hour. One lady sold some of her gold jewelry. 

I saw about 30 1oz bars and rounds on display, a few eagles, and some 10oz.

Not many people from my area know about the extent of america's problem. 

Like my ideas? Check our blog at: https://backtobasicseconomics.blogspot.com/
Sun, Aug 7, 2011 - 1:24pm
Ford Rep
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Busy in Cincy

Lots of people. Most were new per the questions they were asking. You can not judge a book by it's cover but it appeared that the more well to do were buying and the less so were selling scrap.

Sun, Aug 7, 2011 - 11:44pm
tsuiwilliam
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burnaby bc

J&M in metrotown got cleaned out of 1oz maple leafs, we cleaned their 10oz bars and got away with some 1oz grizzlies... too bad we couldn't get the 100oz bars. =(

Mon, Aug 8, 2011 - 4:11pm
Gunrunner
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My coin shop had a great

My coin shop had a great inventory and I bought 24 ASE which put me just outside the taxable range. 42.00 each!!! Also just received my Mt Hood 5oz coin today from the mint. 

Bang Bang
Tue, Aug 9, 2011 - 11:30pm
tsuiwilliam
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Greater Vancouver, BC

Richmond VBCE is out of all PMs for the last 2 days

Vancouver (Granville) VBCE has inventory, got some 100oz and 1oz's Ag, they're out of Au Maple Leaf

Tue, Aug 9, 2011 - 11:36pm (Reply to #11)
Captain Silver
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Rats!

I am going to be in Vancouver tomorrow and was looking forward to chasing maples. Guess I'll have to change my plans...

All the stores around here (central florida) are cleaned out, silver and gold. Went to all the stores near my house and bought anything they had left in silver. Didn't get a lot, assortment of various bars, rounds and a few ASEs. Several of the dealers said they weren't sure about order delivery date, but they suspect it will be some time.

Our monetary system has been hijacked by morons! Abandon ship!!!!
Wed, Aug 10, 2011 - 2:14am
survivalwstyle
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my local coin shops

caLLed or stoPPed @ 4 diFFerent coin shops today.

1st stop my usual trusty was cleaned out of buLLion AU/AG. literaLLy nothing to seLL. would not take orders on junk rounds or 90%. said he did not know when he could get it from the wholesaler.

2nd stop had 24 ASE at $6.50 over. no junk rounds, no 5,10 or 100 oz bars. had a fair amount of 90% but had it at 30x face. some smaLL AU pieces. 

3rd stop was the honey pot. no junk rounds, would not order them either same story. no supply available. had about 20 libertads @ spot +5 2 maples and 15 ASE at spot +4. 90% was 28x face. lots of AU. AGE @ spot +75 1/10 AGE @ 200. 

got home and caLLed regions largest buLLion dealer. they had stock of everything. premiums sEEm to be up. 4 over spot 4 ASE there tOO. 10 busineSS day delay on the pickup.

varies it sEEms around town. aLL said that this wEEk they have sEEn a pick up in busineSS. go fOOk'n fiGGr

enjoy everyday
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