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Gold buyers beware ! Business depends on a very Conservative brand of talk radio...
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<blockquote data-quote="1989" data-source="post: 737566" data-attributes="member: 10280"><p><strong>Re: Gold buyers beware ! Business depends on a very Conservative brand of talk radio.</strong></p><p></p><p></p><p> </p><p></p><p><strong>Weiner said he plans this week to introduce legislation to require Goldline and other precious metal retailers to fully disclose all their fees, how much the price of gold would need to rise in order for their customers’ investments to yield a profit, and the purchase price, melt value and resale value of the metal that constitutes their products. And he called on the Securities and Exchange Commission, as well as the Federal Trade Commission to investigate “the shady business practices conducted by Goldline International.”</strong><p style="text-align: left"><span style="color: #000000"></span></p> <p style="text-align: left"><span style="color: #000000"></span></p> <p style="text-align: left"></p> <p style="text-align: left"><span style="color: #000000"></span></p> <p style="text-align: left"><span style="color: #000000"></span></p><p></p><p>This guy sounds like a real wiener. Bullion trades at such a narrow range $20-$30 over spot (gold) Many companies show their bid/ask prices. For something like a $20 Saint in MS65 the dealer bid/ask today is $1910/$2070. So if I bought one for a customer for $2070 and sold it to them for say $2270. With gold spot at $1212 today and a $1910 bid, tomorrow spot could be $1200 with a $1950 bid, and the next day spot could be $1225 with a $1880 bid. The only thing for certain is the customer will profit if the spot price goes over $2300. Besides coin dealers arn't regulated. The SEC doesn't have any jurisdiction.</p></blockquote><p></p>
[QUOTE="1989, post: 737566, member: 10280"] [b]Re: Gold buyers beware ! Business depends on a very Conservative brand of talk radio.[/b] [B]Weiner said he plans this week to introduce legislation to require Goldline and other precious metal retailers to fully disclose all their fees, how much the price of gold would need to rise in order for their customers’ investments to yield a profit, and the purchase price, melt value and resale value of the metal that constitutes their products. And he called on the Securities and Exchange Commission, as well as the Federal Trade Commission to investigate “the shady business practices conducted by Goldline International.”[/B][LEFT][COLOR=#000000] [/COLOR] [COLOR=#000000] [/COLOR][/LEFT] This guy sounds like a real wiener. Bullion trades at such a narrow range $20-$30 over spot (gold) Many companies show their bid/ask prices. For something like a $20 Saint in MS65 the dealer bid/ask today is $1910/$2070. So if I bought one for a customer for $2070 and sold it to them for say $2270. With gold spot at $1212 today and a $1910 bid, tomorrow spot could be $1200 with a $1950 bid, and the next day spot could be $1225 with a $1880 bid. The only thing for certain is the customer will profit if the spot price goes over $2300. Besides coin dealers arn't regulated. The SEC doesn't have any jurisdiction. [/QUOTE]
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