Why Sell To Us
Since Gainesville Coins is a leading gold and silver dealer, we are constantly replenishing our inventory. As a result, we are also willing to buy gold and silver coins and bullion at very competitive prices.
Selling your coins is quick, simple and safe. Follow 3 easy steps on our Sell Your Coins
page to get the most for your coins and bullion. Popular silver bullion items are:
American Silver Eagles,
Silver Maple Leafs,
Silver Bars and Rounds. Popular gold bullion includes:
Gold American Eagles,
Gold Maple Leafs,
Krugerrands,
Mexican Gold and
Gold Bars and Rounds.
If you own silver, gold, platinum or paladium not listed on our website, please give us a call. We are interested in buying a large variety of coins and bars in addition to our commonly purchased products.
Unlike other dealers, there is no minimum. Gainesville Coins will buy any quantity. Sell your precious metals to a trusted name!
Market News
Greece Worries Continue - Gold and Silver Extend Losses
Wednesday, May 16, 2012
The theme remains the same as Greek concerns continue to swirl. The possibility that Greece will exit the EUR common currency continues to dominate all market activity. The details of new Greek elections are not yet clear, but it is expected that anti-bailout parties will merely increase their represenation and lead to the inevitable exit of Greece from the common currency. In a sign that the endgame may be reaching climax, the ECB has reportedly stopped funding certain Greek banks who had been completely dependent on the ECB for funding.
The ongoing deterioration of Greece has many seeing another possible "Lehman Moment." In 2008, when Lehman Brothers went bankrupt, the global financial system had the equivelant of a heart attack. An exit of Greece from the EUR common currency is expected to have many unforseen consequences, none of which will be pleasant. For those that have yet to think through the implications of a Greece exit from the EUR, the following two outlines are a must read. JPM estimates a $400 billion hit. Citi Previews the Greece Exit.
Financial shares led U.S. stocks lower, with JP Morgan (JPM) continuing to reel from last week's disclosure that the bank's CIO office had incurred a $2 billion loss. JC Penny (JCP) was also a notable story, falling 20% after posting earnings and sales that disappointed the street.
Today's U.S. economic releases were generally better than expected, but a strong beat in April industrial production was unable to counter the gloom emanating from Europe.
Precious metals continue to suffer amid USD gains. Spot gold prices were down $3.40 at $1,541.19 per troy ounce. Spot silver prices were down $0.48 at $27.37 per troy ounce. The gold-silver ratio continues to rise, now at 56.48.
Commodities outside precious metals were lower. WTI crude futures were down another $1.17 at $92.81 per barrel. Copper futures were down $0.0395 at $3.478 per pound.
Treasuries remain the go to asset amid all the gloom. The benchmark 10-year yield is now at 1.76%. The EUR-USD continues to fall, now at 1.27.
Oher News
April housing starts came in at .717 million annual rate, above the consensus estimate of .690 million, and following the prior month's 0.654 million annual rate.
April Industrial Production rose 1.1%, much better than the consensus estimate of 0.5% and following the prior month's downwardly revised 0.6% fall, orignally unchanged. Capacity utilization edged higher to 79.2%, above the consensus estimate of 79.0%, and following the prior month's 78.4%. April manufacturing rose 0.6%, slightly below the 0.7% estimate, and following the prior month's downwardly revised 0.5% drop, originally down 0.2%.
Facebook, the on-line social networking giant, is to price its IPO tomorrow.
Bloomberg has an interesting gold article titled "Gold Eclipsed by Dollar Haven as Goldman Sees 25% Rally."
Take Advantage
Gainesville Coins is offering the 1 oz Gold PAMP/Credit Suisse gold bar at as low as $24.99 over spot. Gainesville Coins is offering the 100 oz Johnson Matthey Silver Bars at as low as $0.55 over spot.
Disclaimer: Gainesville Coins "Market Updates and In the News Section" provide our readers with features and analysis of the financial markets, and some of the factors that may be affecting market direction. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness, and this information should not be considered investment advice. Gainesville Coins provides these articles for informational purposes only, and they do not constitute a recommendation by Gainesville Coins to hold, to purchase, or to sell any investment.