The whole concept of buying and selling coins at coin dealers is such a advanced idea to a backwater of a place like HK.
The entire idea of >1.5% bid/ask spread is a good idea, for the dealers.
We of HK do our gold hoarding and dishoarding at the antiquated banks, where most money flavors are transacted.
When the USA devolves to such ancient infrastructure and uncommon know-how as we have in HK, the gold price will perhaps be at ... oh, a wild guess, say a bitter USD 3,896 / ounce, and the bid/ask spread will be less than USD 60, or the then price of 4 McD happy meals, with coffee thrown in.
But, who knows, maybe the majority of USD-space asset holders will choose to go down with the Dollar ship, all neatly standing on deck, at salute, colours flying, and standards blowing in the splash, with Bush the Jeb or Hilary the Clinton or, if impeachment timing permits, Bush the George at the flag pole.
OTOH, EBay bids for gold eagle coins are merely indicating that China Panda gold search.ebay.com , on ounce per once basis, is more valued; and I believe correctly, as the legal tender value of USD coins are certainly of dubious merit, even when compared to the RMB that will surely trend down ;0)
An obvious trades suggest itself, buying EBay gold eagles and sell to HK-based British bank, and buy China pandas from HK-based China banks, and sell on EBay :0)
Chugs, J |
