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Gold Prospecting
Metal Detecting for Gold
another gold auction , about 10 million bucks worth this time
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<blockquote data-quote="user 4386" data-source="post: 580381" data-attributes="member: 4386"><p>My comments related purely to bullion bars and ingots, which should not be affected in the way coins or nuggets are (not manufactured items or natural). Surely the reserve price would be the current spot gold price, for buyer versus seller? Even currency notes have buyer and seller price, , partly based on future expectations - otherwise why would anyone be in the business of buying or selling gold? You would need to pay less when you buy gold than when you sell it - it only looks like a double whammy if a buyer becomes an instant seller on the same day, doing both through the mint? No-one would do that, as they would try to sell when the price was higher than when they bought. How much extra do they charge at the mint above the spot price? Looking at this today it seems negligible (the total buyer-seller spread is only 3.8% on an ounce, $96, less as a percentage on larger bars). </p><p></p><p><img src="https://www.prospectingaustralia.com/forum/img/member-images/4386/1603692013_perth_mint_price.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" /></p><p></p><p>I guess my main point is that I cannot see why these people you deal with would have reserve price lower than what they paid for the gold. But perhaps that is what you are speculating on, that their purchase price plus acceptable profit will still be less than the spot price when they sell to you?</p></blockquote><p></p>
[QUOTE="user 4386, post: 580381, member: 4386"] My comments related purely to bullion bars and ingots, which should not be affected in the way coins or nuggets are (not manufactured items or natural). Surely the reserve price would be the current spot gold price, for buyer versus seller? Even currency notes have buyer and seller price, , partly based on future expectations - otherwise why would anyone be in the business of buying or selling gold? You would need to pay less when you buy gold than when you sell it - it only looks like a double whammy if a buyer becomes an instant seller on the same day, doing both through the mint? No-one would do that, as they would try to sell when the price was higher than when they bought. How much extra do they charge at the mint above the spot price? Looking at this today it seems negligible (the total buyer-seller spread is only 3.8% on an ounce, $96, less as a percentage on larger bars). [img]https://www.prospectingaustralia.com/forum/img/member-images/4386/1603692013_perth_mint_price.jpg[/img] I guess my main point is that I cannot see why these people you deal with would have reserve price lower than what they paid for the gold. But perhaps that is what you are speculating on, that their purchase price plus acceptable profit will still be less than the spot price when they sell to you? [/QUOTE]
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Gold Prospecting
Metal Detecting for Gold
another gold auction , about 10 million bucks worth this time
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