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
Europe Debt Crisis Seen Lasting Years - Gold and Silver Advance
Friday, May 18, 2012
German Finance Minister Wolfgang Schaeuble said the European debt crisis could last another two years as G-8 leaders met to discuss the situation in Greece. This admission is in stark contrasts from official comments over the last two years where government officials would repeatedly try to reassure markets. However, with preperations for Greece's seemingly inevitable exit from the EUR common currency being made, Spain and Italian banks being downgraded, and most of the EU outside Germany in recession, such reassurances were clearly misplaced.
Stocks again finished in the red as the major averages were unable to maintain opening gains. Contributing to the negative sentiment, yesterday saw a mass downgrade by Moody's of 16 Spanish lenders. This follows last weeks downgrade by Moody's of Italian banks. The long awaited Facebook IPO priced last night at $38.00 per share, and struggled to stay above this price. FB is valued at any eye-popping $104 billion, which makes founder Mark Zuckerberg one of the richest people on the planet. However, with the European mess simmering in the background, equity markets fell into the close. The S&P 500 index broke below the 1,300 level to close at 1,390, down over 100 points in a matter of weeks, and just above its 200 day moving average.
There are two upcoming events that should be on everyone investor's radar screen. The first is the June 17th second Greek election. The recent May 4th elections did not result in the formation of a working government, so Greeks are heading back to the polls. It is expected to see further gains in anti-austerity parties, and increasing the likelihood of Greece's departure from the EUR common currency. The second event is the June 19th FOMC meeting. With commodity and equity prices falling, and U.S. economic data flagging, expectations that the Federal Reserve will embark on additional quantitative easing has risen. If the worst case situation were to occur following Greece's June 17th elections, the Fed could be seen as the last hope to stave off another 2008-like scenario. Greece could yet be a repeat of the 2008 "Lehman Moment."
Precious metals continued to draw a bid to post back to back gains following Thursday's surge. Gold and silver had been tracking risk assets lower over the last few weeks. The current divergence comes as U.S. Treasury yields have fallen to record lows. Spot gold prices were up $19.09 at $1,593.79 per troy ounce. Spot silver prices were up $0.72 at $28.80 per troy ounce. The gold-silver ratio has narrowed for a changed, moving lower to 55.44.
Commodities outside precious metals were lower. WTI crude futures continue to decline, off $1.46 at $91.10 per barrel. Copper futures reversed early gains to end lower, off $0.0445 at $3.4345 per pound.
Treasuries paused following recent gains with the benchmark 10-year yield moving off its record close yesterday to yield 1.72%. The USD dollar index ended marginally lower after having risen for 14 straight sessions.
Oher News
Bad loans at Spanish banks jumped to 8.37% in March, the highest since August 1994. The data was provided by the Bank of Spain.
The chief of the Australia and New Zealand Banking Group has said volatile conditions in global markets have caused the wholesale funding market for Australian banks to freece, a further sign that the European turmoil is taking its toll on global markets - from Zerohedge.com.
De La Rue has drawn up contingency plants to print drachma banknotes should Greece exit the euro and approach the British monety printer, an indsutry source told Reuters on Friday.
Marketwatch is reporting that regulators in Spain may reintroduce a short-selling bank fo r bank stocks. A spokeswoman for the market regulator, CNMV, said there have been no changes. However, bank shares in Spain did jump on the news.
There are no U.S. economic releases scheduled for today.
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.