Skip to comments.Sales of gold up on eBay amid stock market turmoil
Posted on 08/14/2011 2:01:42 PM PDT by Eleutheria5
SAN FRANCISCO -For gold sellers on eBay, the recent stock market turmoil has been a boon for business.
Gold and silver sales on eBay had already been rising steadily over the past several years so much so that eBay Inc. created a special area in May to make it easier for buyers to find sellers.
Now, activity is intensifying as consumers unnerved by the economic uncertainty flock to gold in hopes it will be a stable investment.
The stock market just ended one of its most volatile weeks in years. Through most of last week, the average selling price increased for gold bars and coins.
(Excerpt) Read more at aolnews.com ...
I know your kidding but try digesting a 21 kt gold herring bone gold chain. You will get agida for real.
Last time around our loving government forced everybody to turn in their gold at $21/oz and then set the price at $35/oz.
Just add some zeros next time.
Oh, did I forget to mention that private ownership of bullion and coins - including US gold coins - was a crime for decades thereafter?
I’m banking more on the lead market.
Buy reload equipment and supplies. Lead is only as good as the chamber it fits into.
Good plan. With enough lead one can retain ones right to own gold. Actually, one can retain ones right to own all of one’s posessions.
Forget gold, buy lead.
I have found as many others have that the world PM markets are manipulated.
I use ebay as a good indicator of current silver prices....
And no doubt all the holders will rush to turn in their gold.
Not so much. And if they come door to door for it, they will get a lot of lead and copper mixed in.
I have found this website to be a very useful source of information on the economy, gold, and silver.
Yes, all that is true. The government defaulted in 1933, and stole everyone’s money. Well, silver remained until 1964. Then they stiffed foreign central banks in 1971. In 1982, they stopped making _pennies_ out of copper!
Since that time, the government has racked up more and more debt, the sign of a government that may well default again, this time by simply printing.
What makes you think the government would want to confiscate some kid’s coin collection at this point? I just don’t get this angle.
They don’t have to physically take your gold to prevent you from using it.
A goodly chunk of merchants will be unwilling to accept illegal gold, and a goodly percent of them would be quite happy to turn you in as a hoarder.
And then there’s the reward money...
Every gold based transaction is an opportunity for public excoriation, fines, jail time or a lethal firefight.
That tends to chill the market a bit, no?
All money is the government's money, Citizen...
I'd also guess you don't get the point of shutting down lemonade stands either.
The whole purpose of having power is the abuse of power.
Yes, governments can do all that, and more. But those are the hallmarks of an increasingly desperate and tyrannical form of government. Trust in government is already at historically low levels and those kinds of actions would probably be extremely counterproductive in that it would be an overt admission that the markets, currency, and economy has only one direction - down, and would also serve to accelerate capital flight out of the country.
I have often thought about exactly what you just posted.
There was a very wise lady financial expert on FOX News about 2 years ago. Everyone was saying that gold would be the "safe haven" even if we were at the stage of a Depression.
She reminded everyone was FDR did.
Then she said something that shocked the panelists (paraphrasing, but this is what she said:
"You guys don't get it. All the government has to do is impose a 95% tax on the sale of gold before they declare it illegal to own it again. Either you are taxed out of owning it, or they fine and imprison you for owning it. History tells us that the majority of citizens will comply."
There might not be anyplace "safe" overseas to put said money and capitol.
Think about it - if he worldwide economy has melted down, and the G20 meet in Geneva to talk about "emergency measures" that would definitely include talks about moving towards a single global currency (and that will happen), then don't you think they will all collaborate in order to prevent capitol and wealth from flowing out of one country and into another?
Answer: of course they would! They would have to.
You are assuming that this administration does not want to destroy the country.
Check your premise.
Please, I beg of you, provide any example you can that indicates you are correct, that this administration wants the country to succeed.
Yes I suppose you’ve got a point. Logically then, the kid with a coin collection is a terrorist! Once you figure out their playbook it all makes sense, and the headlines practically write themselves.
So, the government wouldn’t want to confiscate gold in order for any purported fiscal notions of a new kind of “gold standard”, but simply to prevent anyone from using it as a currency or form of payment.
One thing though, this would be a hard sell because the US sells millions of gold and silver bullion and collector coins since 1986.
Yep. Gold hoarders are the new private jet owning evil rich people.
(As will be anyone who looks well fed, I am sooooooo screwed!)
Well, I guess they can try, though it seems a given that this would really hasten the dollars slide among other things, and gold would skyrocket on world markets.
If there were an easy way out of the government fiscal woes, they would do it.
I also question, why is gold the subject of so many people’s ire? Particularly, “financial experts” on TV or elsewhere? I mean, Apple stock has done quite well, and nobody is anticipating the government outlawing Apple shares.
The government had a huge role in creating a real estate bubble, and haven’t yet outlawed that either. It’s strange that making 1000 percent profit in something is considered OK, but if gold goes up, why the government should steal it. Why would that be?
What is “hoarding”? Seriously. It just sounds bad.
I have several thousand dollars in my bank account. Is that “hoarding”?
If I have less than several thousand just sitting in a bank, not contributing to the economy, yes.
Of course it sounds bad, that’s the whole point of propaganda!
All right. Looking up the definition in my Websters, it appears that stockpiling isn’t “hoarding”, though hiding a stockpile would be. So my bank account is OK, but the mason jar buried in the yard, that’s not OK.
any of you worried about hoarding, please know that I will take the fall for you!
Just send all your hoarded stash of gold, FRNs, canned goods, and other contraband to me.
We are old, living on a pittance, and will be so happy to make the sacrifice so you don’t have to suffer the consequences.
Do I need to add [sarc] ?
No agenda - just a straightforward question: Glenn Beck says he buys gold coins with historic value - collector’s coins which supposedly weren’t “collected” or exempted in 1933? Anyone?
Housemouse! Pleasure to see you!
(Can you hide me, too?
Well - FDR’s XO ( illegal, btw, imo) allowed for people to keep up to $100 in gold coin (about five ounces) and “collector coins having unusual value” or something like that. Certain firms use that exemption today to push prospective gold buyers into pre 1933 coins under the idea that in a future confiscation those coins would be exempt. My view is that collector coins are a completely different thing and should be avoided unless one is really knowledgeable.
That's a valid question, and a good one to ponder.
A few reasons:
1. There might be some "sour grapes" by people who don't own gold, but I seriously doubt there are too many of those discussing the subject
2. People who buy gold think (rightly or wrongly) that they have the ultimate "hedge" against a global financial meltdown. They can boast: "I've got these governments by the gonads!" I think it is safe to say that that is not correct, by any stretch of the imagination. As stated here, government have all kinds of weapons at their disposal to disarm citizens of their financial independence through gold, to include historical precedents of making it illegal to own it!
3. There are those who think they "own" gold, but don't really have any physical gold in their first person possession. These raise all kinds of issues, the most serious that people have to remember that in 1933, banks opened safe deposit boxes, called the Feds, and had people who had gold stashed in their bank arrested. Didn't happen in hundreds of cases, but it happened. If we don't realize that our government stays awake at night thinking how they can screw us out of gold or independence, we are deluded.
Good point, however, a desperate government during a world financial crisis could just as easily not exempt collector coins. All it takes is words on the Executive Order.
During Prohibition, the government allowed the Catholic church to have a miniscule amount of wine in churches to that they priests could perform Mass. It was regulated and included (I believe) knocks on the doors of the rectory to search for "illegal wine." Our lovely Feds in action.
Never thought about buying gold or silver on ebay. But due to your post I went to ebay’s gold/silver area. I monitored a few auctions for American Silver Eagles..... If you are careful you can buy 20 at a good price. $30-$50 less than APMEX which is the industry standard and a good place to check out pricing
Plus on ebay you can pay via paypal which can mean yr credit card. Whereas at APMEX you get dinged for using credit card. On Silver Eagles about $1 extra
No easily searched database for a paper trail there...
No, I guess I was wondering why gold has been derided, it appears no other asset class seems to invoke (in person, online, television, etc, certain type of person who feels compelled to make it their hobby to dissuade anyone from owning or buying gold. One doesn’t find this on real estate forums afaik, or stock and mutual fund investment advisor websites.
Even more strange, a glance around the world shows that gold is a respected and sought after form of wealth preservation and it’s adherents are certainly not viewed as oddball cranks. They certainly don’t argue whether it is money, etc.
My view, the intent of the constitution and the founders was to not allow bills of credit or “paper money” after the disaster and default of the Continental currency. Unwisely, this advice was ignored a hundred years ago to allow for the expansion of the economy and “for other purposes” aka wars, enslavement, etc. Only half joking here.
Today, there is not only the power to tax, but the power to conjure up money that is not based on Any Thing (or even, borrow it back?). Don’t claim to understand it, though seems to me when “it” goes, it’s gonna be epic. It’s amusing to me, sort of, when the pundits say stuff like “Nobody could see this coming” or “”We’re in uncharted waters here.”. Nonsense. We’re in VERY charted waters here, plenty of people saw this coming and have been yelling themselves hoarse for decades now warning about exactly the kind of problems we’re now facing because this kind of nonsense happens over and over, history is replete with examples. It is very sad that natural disasters cause such human suffering, but why must we add to the drama by repeating notions that were proven to be mistaken centuries ago? Gold might not be the answer but economically definitely part of the question.
Yes, but do you think that was legal? Why was an XO deemed constitutional to ban gold, but prohibition of alcohol required an Amendment and ratification by the states? Along those same lines, shouldn’t the prohibition of say, tobacco or cannibas require that same level? See where I’m going with that?
Congress has voted, I’m told, to “raise the debt ceiling” 100 times in almost 100 years. Do you suppose a group of politicians with what appears to be an unlimited check writing capability is going to wreak havoc? Does anybody really expect that 14 Trillion dollars in debt and another 100 trillion in future outlays is going to be paid in like kind or measure for measure? Gold isn’t rising in price because of “uncertainty” then, it’s rising because people are indeed quite certain- certain that the inmates are running the asylum.
Dunno about that. One of the best "buy it now" prices on 20 Silver Eagles is this guy. http://stores.ebay.com/bluemooncoinsinc
With 33,000 ebay sales he has a very searchable customer database
You prolly being sarcastic
Of course not! But, none of that matters, does it?
Gold gives a citizen power over the government that has run amok, and that is exactly why they will change the rules and make it illegal/immoral to own it, and/or will tax all of anyone's profits if they try and sell it or move it overseas (my prediction).
I bet I am right.
You're right. I guess because some people see the "gold hoarders" (as I have heard them called) as the problem, and a threat.
They want you to put your money into the Stock Market, or real estate, or the Ronco pocket fisherman, or anything else BUT precious metals because that fact that other people see through the illusion that they themselves still believe scares the living hell out of them.
What do you think of that theory?
Well, do you think silver would be criminalized, then?
“We’re all terrorists now.”. None of this matters, you say. Like Hell it doesn’t, we’re Americans, it’s time, long past time, for people to stand up for their rights. These people will eventually try to confiscate our souls.
To Hell With Them. Amen.
I think it may well have something to do with commissions, yes. I bought one (1) gold coin in the 90s because ever since I was a little kid with a coin collection I wanted a $20 eagle. Sadly, my paper route didn’t seem to support that desire and my parents wouldn’t budge, lol. Soon after my purchase England’s PM sold most of her stash and the price dropped to $275. Most of the mainstream advice didn’t make sense though - historically most advisors reccomended 5 percent gold in a portfolio, and this seemed to be downplayed. The detractors said things like “it’s heavy”
or “it needs to be assayed” “costs money to store”, all of which is true if someone is VERY wealthy, and wants to take actual delivery of 400 ounce bars.
Having said all that, money itself is absurd, if the best measure or marker that can be found is a shiny rock formerly found in streambeds. We can measure and define “stuff” more accurately than ever before, but money is now either colored pieces of paper with dead people’s likeness engraved on them, or increasingly, digital representations of ones and zeros stored on a hard drive somewhere.
A few coins have none of those issues.
Yeah creating a black market has worked so well to drive down the price and availability of drugs.....