Bloodbath In The Markets....
- Thread starter ozcopper
- Start date
It wo
It would be perfect if it could make a full recovery while the AUD/USD rate remains down... But I'm sceptical. We generally see gaps made in the market, only for a short-term correction to fill the gaps and then continue in the direction of the gap.
My first ever gold and silver purchase was with them. It's changed a lot since then.
I don't understand why their 1oz kangaroo is $13 over spot when other dealers sell them for $6-7 over spot. If you add their little $1 over actual spot fuckery, one could be paying a hefty $14 premium for a Perth Mint Kangaroo. I bought a mini monster box (250ozs) of these from them for $22 an oz back in the day. Today's $14 premium equates to 63% of what I paid.
It's crazy to think that Bullion dealers used to sell billion with $1-2 premiums and still be in business. Now the premiums are 300-500%+ higher with no sign of returning. The premiums on 100oz bars these days are more than what 1oz coins used to be. Makes you appreciate the opportunities we once had to acquire more bullion for our $$.
The first time I purchased there I went in with cash, no I.D. needed for purchases under $10k.
I've still got a few of those old ABC cash receipts.
Yeah, but back when I purchased, 10K would easily purchase 10oz. 5K these days doesn't even get 1oz.