Gold Selling House Parties

[JEast]

Has anyone heard of such events. Though all of us have probably seen the commercials for a few years of "Sell Your Gold", but I just became aware of such events in houses. It is set up much like a Tupperware or Pampered Chef party.

 

Would or could this imply we are approaching a top? I thought this was very odd and reminded me of the great silver boom when people were selling their US quarters and half dollars at record amounts.

 

 

Cheers

JEast

[oldye]

http://www.hulu.com/watch/91599/vanguard-thank-you-recession#s-p1-so-i0

 

Kind of long but there is a segment on gold parties somewhere in this thats really worth watching.  Basically they get drunk and then rip off their friends

[Guest Broxburnboy]

 

Would or could this imply we are approaching a top? I thought this was very odd and reminded me of the great silver boom when people were selling their US quarters and half dollars at record amounts.

 

 

Cheers

JEast

 

An interesting article about the Hunt brothers attempt to corner the silver market (the event to which I believe you refer) in 1971:

 

http://fskrealityguide.blogspot.com/2008/02/hunt-brothers-silver-corner.html

 

[JEast]

Yes, the Hunt Brothers is what I was referring to, but if my memory serves me, the big push for the advertisements was in the '73-'75 time frame.

 

Also thinks for the Current TV episode. Current TV is interesting on occasion. As a side note, they have not been in the black yet and Al Gore is one of the major investors.

 

 

Cheers

JEast

[Uccmal]

I just started to notice these ads in the last 3 months or so in a big way.  One ad was priceless where a guy was bragging that he was able to sell his gold chain for $300 even though it was broken...

 

Yeah I would think we are in the steep part of the curve where the price rise accelerates up and then will come crashing back down.  Too dangerous to buy and too dangerous to short if thats even possible.  

[enoch01]

I live in the Tampa, FL area.  FWIW, within the past couple of months I have seen one or two unoccupied commercial buildings (stand-alone restaurant size) with signs announcing a new tenant with a huge banner saying "We Buy Gold!".

 

A while ago I started a thread about the best option for purchasing gold.  I haven't taken a position, but reading the anecdotal evidence I'm wondering if now is the time to sell instead.

[Guest Broxburnboy]

Currently the supply of retail gold in the form of gold coins (Kruggerrands, Eagles, Maple Leafs) is curtailed due to heavy demand. The  gold buyers to whom you refer are probably traders, buying scrap gold at a discount and reselling the re-refined product at today's higher retail spot prices.

Usually the typical sellers of valuable jewelry are not on the winning side of their trades (hence their need to raise cash)... it may be that the buyers are the smart ones.