Start shorting Gold...you can buy it cheaper on Ebay now than in the markets.

Quote from MakingBank:

This guy is selling his gold for over 8 dollars an ounce LESS that what the market closed at today oct. 28, 2005. I guess thats what happens when you do those 10 day listings and try dumping your Gold at the bottom of a cycle. Someone could make a nice 300 dollar profit if they use the buy it now option (and of course if gold doesnt drop hehe).


http://cgi.ebay.com/1-KILOGRAM-999-...ryZ39484QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
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Rather than make $300, there's a decent chance you'll lose $16,349.99. Guy lives in Turkey. Good luck getting the coppers to chase him down when you send him 16 grand and he never calls you back.

"PAYPAL is NOT ACCEPTED for this auction without EXCEPTION. This gives an extra sense of security to both buyers and seller. "

NOT. Supposedly it's more secure to use money orders, LOL. More secure if the seller is a crook.

ROFL! And check out this part:

"Due to COUNTERFEIT issues all items & methods of payments must take 14 business days to clear"

He still wants nearly a month to make a clean get-away!
 
Quote from MakingBank:

This guy is selling his gold for over 8 dollars an ounce LESS that what the market closed at today oct. 28, 2005. I guess thats what happens when you do those 10 day listings and try dumping your Gold at the bottom of a cycle. Someone could make a nice 300 dollar profit if they use the buy it now option (and of course if gold doesnt drop hehe).


http://cgi.ebay.com/1-KILOGRAM-999-...ryZ39484QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
More...

Someone just broght to my attention gold is quoted in troy ounces...so looks like I would be wrong. You would actually LOSE 1000 dollars by buying from this guy. :)

TGregg: please delete this this thread as soon as possible because i would hate for the rest of the board to know i was wrong about something and destroy my perfect record of being right. :D
 
it's kind of fascinating, i see lots of auctions where people are bidding well above the spot prices for bullion that has no numismatic value

so far above, they're even topping the legit dealers' incredibly wide spreads + vol premiums

for anyone in the mood to sell metal, ebay seems like a great place where eager buyers will commit to excessively high bids
 
Quote from Avid_Consumer:

it's kind of fascinating, i see lots of auctions where people are bidding well above the spot prices for bullion that has no numismatic value

so far above, they're even topping the legit dealers' incredibly wide spreads + vol premiums

for anyone in the mood to sell metal, ebay seems like a great place where eager buyers will commit to excessively high bids
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After ebay fees & paypal fees, you'd probably come out ahead by just selling it to tulving or ajpm.

Anyone feel like doing the math?
 
i completely forgot to include ebay fees in that, thx for pointing that out. what's the best way to pick up spot metal without paying more than .5-1% comm, is that even possible aside from futures delivery or staggering quantity at retail?
 
Best way to have spot gold for small fries is GOLD COINS from the local coin dealer.

Very liquid and you might have a few scattered around on the dining room table when you bring home the next retard you fell in love with over last weekend..........:D

Just pretend you had so many that leaving a few behind was no big deal.

Another trick might be to leave the bogus checkbook out and excuse yourself to run out to get a bottle of wine. there is not a bimbo in the world that will not check it out. LOL.....:eek: :cool:
 
Quote from Avid_Consumer:

i completely forgot to include ebay fees in that, thx for pointing that out. what's the best way to pick up spot metal without paying more than .5-1% comm, is that even possible aside from futures delivery or staggering quantity at retail?
More...

The best way is to buy the 1 oz. bullion coins from the two merchants I mentioned above. Tulving has krugerrands for under $10 over spot. The spot price only applies to 100 oz. bricks, which are cheaper to smelt & mint.
 
On second thought, my previous post wasn't entirely logical.

One ounce silver rounds can be purchased for under $1 above spot. Therefore, attributing the premium of one ounce gold bullion pieces to smelting & minting costs doesn't make much sense.

A more logical reason for the premium over spot can be attributed to the merchant's risk of loss due to market fluctuations and dishonest customers.
Some sleazy customers 'buy' bullion from online merchants, but don't send payment immediately. Then they back out of the deal if gold drops in price immediately thereafter.
 
am i missing something, isn't $1 above spot silver a ~7% transaction fee. $10 prem on a kruggerand sounds reasonable.

the more i look into this stuff, the more futs delivery looks like an outstanding deal, but that renders the minimum unit ~22k which isn't that big, but would be kind of jumping in to one metal with both feet.

from the cbot yg contract specs:
http://cbot.com/cbot/pub/cont_detail/0,3206,1248+14410,00.html

how do you interpret the following:
"33.2 fine troy ounces of gold, no less than 0.995 fine contained in no more than one bar. Variations in the quantity of the delivery unit shall not be in excess of 10% of 33.2 fine troy ounces."
 
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