"Everyone is selling gold" The markets are flooded with gold coins.

Is anyone else having the same problem?

This is the same shop that paid spot price last year. It is a major chain.

sold all my silver eagles for bitcoin / altcoins in july, I am up 600%

fuk gold
fuk silver

BTC $10000+ by christmas

Yep. I consider it to be "money under the mattress" or an insurance policy. Best to keep it.

But back to OP's question: Maybe people are selling theirs right now to buy stuff for the holidays. In this good economy, maybe their credit is maxed out(?)

I had to sell some gold maple leafs the other day to raise some cash.

I started with a local gold/jewellery store. They only offered $1259, which is over $20 below spot.

I then tried a local coin shop, who refused to buy them because they had too much gold already.

I then tried my old friend APMEX, which is one of the largest dealers in the country. They also offered $1259, stating that they had too much inventory on hand.

I then tied a gold/jewellery store in another city. They offered $1266. So we drove down there. By the time that we got there they said our coins are only worth $1254, because they said that they had found microscopic scratches.

We took their offer, because we needed the cash. The clerk stated that "Everyone is selling gold today".

The market is flooded with gold coins and you cannot even get spot price for .9999 gold coins.

Is this capitulation? Or are people just getting tired of holding gold, because the price is manipulated to keep it under $1300?

What do you think?

careful buying gold and silver coins.
China sells counterfeit gold and silver clad coins for next to nothing.
go to aliexpress.com and search for gold or silver coins.
The below link will get you 3 gold plated Krugerrands for $8.
Some guy in Canfuckistan recently received a gold plated steel coin from the Royal Bank of Canada, which supposedly gets them directly from the Canadian Mint.
Everything is fake today. Be careful and take a magnet with you when buying any gold or silver coins.


[link to www.aliexpress.com (secure)]

When the economy is good and people think things are stable, they shed their gold coins. Also, the fed is raising rates. Gold does well during inflation. Right now, there is deflation. The dollar is strengthening. Everything is against gold. Gold is really just an insurance policy for currency problems. It is not really an investment. You shouldn't have more than 5% of your overall portfolio in gold/sliver. Just my .02

time to buy.

sold all my silver eagles for bitcoin / altcoins in july, I am up 600%

fuk gold
fuk silver

BTC $10000+ by christmas

When the economy is good and people think things are stable, they shed their gold coins. Also, the fed is raising rates. Gold does well during inflation. Right now, there is deflation. The dollar is strengthening. Everything is against gold. Gold is really just an insurance policy for currency problems. It is not really an investment. You shouldn't have more than 5% of your overall portfolio in gold/sliver. Just my .02

consumer goods are at an all time low in price,

Housing and commodities on the other hand....


Super sweet I can get a 50 inch TV for 3-400$, or a laptop that is a super computer compared to 20 years ago.

Trouble is rent/mortgage eats up half your check or more these days.

This is why you see homeless people with phones and shit, because the reality is, like the one guy ran on "the rent is too damn high".

I see boarding houses making a comeback soon.

I had to sell some gold maple leafs the other day to raise some cash.

I started with a local gold/jewellery store. They only offered $1259, which is over $20 below spot.

I then tried a local coin shop, who refused to buy them because they had too much gold already.

I then tried my old friend APMEX, which is one of the largest dealers in the country. They also offered $1259, stating that they had too much inventory on hand.

I then tied a gold/jewellery store in another city. They offered $1266. So we drove down there. By the time that we got there they said our coins are only worth $1254, because they said that they had found microscopic scratches.

We took their offer, because we needed the cash. The clerk stated that "Everyone is selling gold today".

The market is flooded with gold coins and you cannot even get spot price for .9999 gold coins.

Is this capitulation? Or are people just getting tired of holding gold, because the price is manipulated to keep it under $1300?

What do you think?

Bitcoin,,,. what will it do for you?

It will make me a millionaire 100X faster than gold!

gold has a value. It never deteriorates. It will always be around.

Everything else. will rot and crumble. If I flaten my gold and write my life story and burry it for 200 years.

People will pay to come and read what I wrote there for years and years to come.

Bitcoin,,,. what will it do for you?