COIN SHOPS ARE CLOSING!!!
total pmg baggie death
>>61550890
i can't find the silver necklace my grandparents gave me when i was a baby. It's probably worth upwards of $120 now
I JUST CHECKED AND MY SHOP IS CLOSED RIGHT NOW!??!? COSTCO SOLD OUT!!!
Coin dealers are going innawoods.
>>61550881
A COIN SHOP JUST CLOSED OVER MY HOUSE!!!!!!!
>>61550881Why would they close when they're making more money than ever?
>>61551093THEY CANT GET THE METAL
>>61550892Kek
Sauce?
>>61551093do you remember when they had to limit eggs and toilet paper?
I just checked and trading is halted at $79.25did silver market just collapse?
>>61551134yeah they had to halt it until tomorrow to sort out the order booksimagine what its gonna gap up to though
it's over
>>61551106boomers are walking in and selling it to them
Sir, they took all the money and closed.
>>61551093Essentially its risk, if they buy/sell they are banking on being on the right side of the deal that does take some time to show up with pricing, if they arent they learn to close up shop til things stabilize or have guarantees. It means they may be unwilling to offer anywhere near spot if you go to sell, as well they would have what appears to be absurd premiums. Business is business and even shopkeepers gotta eat.
>>61550881https://youtu.be/DECp8LKurKs?si=J-NBckGp1o0RAfux
>>61551179Aren't they going to profit a little bit on every sale/trade regardless of current price? I thought that was their whole business model
>>61551179yep, they are weighing the risks of the typical reaction of a parabolic chart.
>>61551179>they may be unwilling to offer anywhere near spot if you go to sellTHEY WILL BUY HIGHER
>>61551189Not necessarily, prices could spend weeks crabbing downward. Its why they at best offer spot(when things are stable). And if prices suddrnly pull back, theyd be sitting on things they cant reasoonably sell as a business. This isn't a video game, i imagine many coin dealers are extremely cautious right now with buying AND selling. Sure profit on each trade but bext week usn't guaranteed.
>>61551192>thinks coin dealers must buy from retailAnon i... i dont think you understand a few things, this thread is about shops shutting being closed, if current inventory is protected then they can sell when you demand they buy, but it will be their prices, not your zoom zoom fantasy.
>>61551215They are going to shut down. They have the gold in a safe aside from a few coins. Then they have a lot of silver out. But that was when gold was at $1,500 and silver was at $20. They aren’t going to have all that silver out just to get easily robbed with all the gangbangers our there
Ok…so if silver prices keep going up, and dealers start closing up shop, then what?
>>61550881OY VEYYYYYY
>>61551283>and dealers start closingBoomers are still selling
>>61550929
Bump
>>61550881why did apmex spot price jump to $80?
>>61551106no one gets metal anymore, its dead genre
>>61550881Sub-20K bitcoin soon
>>61551651Their stocks are low so they might as well simply scalp your ass
>>61551915lmao
>>61551093coin shop owners make money on the spread between the gold they buy from walk-ins and what they sell it for to refineries. they may keep some for themselves. commoners are bringing in all their inherited coins and jewelry, now worth hundreds of thousands of dollars. the coin shop owners just don't have that much cash on hand so they're turning customers away.
>>61551946so coin shop owners are not making $4500/oz of gold. they might be making $40-120 per ounce on the buy/sell price difference (spread). but they have to hold $4300 cash for every ounce they buy from walk-ins.
>>61551900Metal health will drive you mad
>>61551321AI is getting pretty good at generating boomers
>>61550881Citation needed. Can't they just work with various banks to create the necessary liquidity?
>>61550881>COIN SHOPS ARE CLOSING!!!It's Saturday night.
>>61551189>Buy at 70 an ounce>Price drops to 60 before you can sellNo. That's the business model that you're talking about, but if the volatility is high they have to take unnecessary risk. They make SOME of it back of course, but then they also still have to pay insurance and taxes and wages. They're doing well right now, but that also means that now they're worth more money and pay more for insurance, and also that they don't feel like gambling on making more money since they just make a ton doing literally nothing and selling nothing.Like if they just keep their stock sitting there doing nothing they still make money, whereas being open presents a risk.>>61551093This is still true, I haven't heard of any closures. They'll close once they actually start losing, for now they've just been making money.
