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MikeOxlong

Member
  • Posts

    321
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  • Trading Feedback

    100%
  • Country

    United Kingdom

Reputation Activity

  1. Haha
    MikeOxlong got a reaction from sovereignsteve in Who wants a ‘pink’ sovereign?   
    I have a 22 sovereign and its significantly lighter than early 00's sovereigns I have . I have to say it doesn't look gold at all 
  2. Like
    MikeOxlong reacted to RDHC in Sold all my gold, got stung   
    That is really bad news, and shows a total lack of scruple by those responsible, but fully in line with the Mint's business model of issuing endless costly coins of transient interest with the frequency that used to be the monopoly, decades back (1950s and 1960s), of countries like Hungary in the realm of postage stamps. I will not buy anything except Britannias and sovereigns, which in their different ways, have an impeccable pedigree.  Nearly all the rest are simply fly-by-nights in my opinion, though I would make an exception for the Queen's Beasts. I am of course open to objection or correction here. (Perhaps I should get my tin helmet.)
  3. Like
    MikeOxlong reacted to LawrenceChard in Gold Monitoring Thread £ GBP only   
    Before attempting an answer, I looked back at the thread to find what lay behind the question.
    I used to read some of the newsletters cited, and still do very occasionally, but my conclusion was that most of the articles were written by people with a vested interest, trying to lobby the market their way, or hype people into buying.
    The GoldSeek analysis of the Comex market is possibly sound, but I did not read it right through. Remember though that for every Comex long trade, there is a matching short trade.
    Also, the Comex market is not a physical market, except that in theory, delivery can be made or taken. I have never looked at the stats, but I guess that 99.99% of Comex trades are paper trades (or electronic), not physical.
    I cannot speak for other dealers in the physical market, but...
    Our aim is to balance our book stocks as soon as possible, ideally to keep them all in balance. In practice, this rarely happens on an intra-day basis. Typically someone will sell us 100 Krugers, somebody else will buy 500 sovereigns. These two transactions nearly balance each other (100:400 would be closer), but usually leaves us trying to sell Krugers and buy sovereigns. The next day, the opposite may be true.
    Being semantic, it also depends what you mean or understand by "are short". This could mean having a stock level of zero, or below a preferred threshold. It could mean having a negative stock (owing stock). While this can be a common occurrence, it usually only persists for relatively short period, possibly as short as a few minutes, possibly running into a few hours or days. (Three occurences of "short" in this paragraph, with two different meanings).
    Anyone running a "short gold" position deliberately is really a speculator rather then a dealer. It is also quite difficult to be short in physical gold. Some gold mining companies are, or used to be, financed by a short gold position bcause their working capital was often borrowed against their future production, secured by the gold still in the ground waiting to be extracted.
    If you read the post I made recently about "Liquidity", you will see that the only time our company was ever "short" was around the 2008 international crises, when we were short mainly of Krugerrands and sovereigns, but with a similar "long" position in kilo gold coins (66 of them), some bars, and also 100,000 ounces of silver, mainly in the form of kilo coins. This was our physical hedge, although even without them, our overall gold stock was always "long" or positive throughout the whole period.
    I hope this helped.
     
     
  4. Like
    MikeOxlong got a reaction from GrahamDiamond in Today I Received.....   
    ahh i have missed this thread :))
  5. Like
    MikeOxlong reacted to Tn21 in Panda Photo thread...   
    2013,2014,2015, 2017, 
    1/10 & 3g 


  6. Like
    MikeOxlong reacted to Varus in Panda Photo thread...   
    Naked Panda without the most important foil on this planet.😥


  7. Like
    MikeOxlong reacted to IndianBullionaire in Panda Photo thread...   
    2020 Chinese Silver Panda ❤️ My First Panda 🐼 




  8. Like
    MikeOxlong reacted to Gildeon in Panda Photo thread...   
    My 20 pcs case is completed at last, with the gilded versions from 2001-2020.
     

  9. Like
    MikeOxlong reacted to MoralHazard in Sold all my gold, got stung   
    How about this: https://auragentum.de/1-unze-goldmuenze-queens-beasts-griffin-2017?number=9201863
    And this: https://auragentum.de/1-unze-goldmuenze-queens-beasts-lion-2016?number=9201691
    And this is just how much a dealer is willing to pay for it. Sorry pal you got screwed bad time.
  10. Like
    MikeOxlong reacted to MoralHazard in Sold all my gold, got stung   
    You would have received easily £1250 per piece for the griffins here. Similarly £1200 for the lion. For the dragon £1100. Now you sold those coins for melt value to a dealer. Great job, you got drilled twice instead of turning for profits.
    Atkinsson will resell the griffins for £1350 and £1300 for the lion a piece. Easy money for them
  11. Like
    MikeOxlong reacted to Kman in NK gold coins   
    Are the coins produced in NK? or are they done by a Chinese mint or some such on their behalf 
  12. Like
    MikeOxlong reacted to Silverhunter in Today I bought.....   
    My first 1/4 gold coin can't wait

  13. Like
    MikeOxlong reacted to mr-dead in Today I Received.....   
    Was like Christmas day today when the postman arrived with 3 X special delivery parcels
    2017 Piedfort sov + full, half & quarter
     

  14. Like
    MikeOxlong reacted to Pampfan in Today I bought.....   
    Today I found the One Quarter Ounce Pamp Suisse Fortuna Bar - It was unfortunetly part of jewelry - but It will serve its purpose until a mint condition one is found. Only one left is the never seen 8gm bar.


  15. Like
    MikeOxlong reacted to AuZeus in Today I bought.....   
    picked up today at auction
    1989 Proof & 2002 bu shield  
     
  16. Like
    MikeOxlong reacted to TangoTango47 in Today I bought.....   
    Today I purchased.....my first ever gold coin!! 
    A 1/4 oz Lunar Sheep - the year of my daughters birth.
  17. Like
    MikeOxlong reacted to Pampfan in Today I Received.....   
    Looks to me you got the "Pamp Fever"
  18. Like
    MikeOxlong reacted to oliversw5 in Today I Received.....   
    I bought a 1/10 Brit from HGM, just because I wanted to have some gold to fondle. Annoyingly it was a 2006 Proof so I can't fondle it! But chuffed none the less
  19. Like
    MikeOxlong reacted to morezone in Today I Received.....   
    A couple of days ago Atkinsons had in a mixed date Panda for a little over 3% over spot.  I thought it would be one of the newer years but thought I'd ask the year anyway in case it is an older one and they didn't have time to make a separate listing.  Normally they list individual years for the older stuff.  Asked in web chat and they got back to me a couple of hours later and it was a 2008.  2008 for 3.3%, why not!
    Came in a scruffy cap so that's been replaced.


  20. Like
    MikeOxlong reacted to Agpanda in Today I Received.....   
    My first 1/2oz panda came today
    a NGC MS70 1993
  21. Like
    MikeOxlong reacted to Sovereign in Today I Received.....   
    1883(s) full sov shield (like the condition)
    2012 half proof sov (full proof too expensive :/ )
     
     




  22. Like
    MikeOxlong reacted to Kman in Today I Received.....   
    Why is everyone suddenly buying all these Chinese lunar coins? 
  23. Like
    MikeOxlong reacted to Pampfan in Today I Received.....   
    Today I picked up two Oriana Gold Bars - 1oz and 10 gram.  I think they look stunning
  24. Like
    MikeOxlong reacted to pho in Today I Received.....   
    some investment pieces
    30g 2017 Panda
    1oz 2016 American Gold Eagle
    1oz 2017 American Buffalo
    1oz 2017 Krugerrand 50th anniversary privy
    Gold goals for 2017: achieved

  25. Like
    MikeOxlong reacted to MickB in Today I bought.....   
    Put in a cheap bid on ebay for a 2006 silver proof Queens 80th birthday coin and won!
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