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Thursdays report

mkman123mkman123 Posts: 6,849 ✭✭✭✭
in Precious Metals
Hey guys, for today two of the three stores in my area had no silver bars.

Last store had 4 10 oz engelhard bars. They wanted 14.70/oz so 588 for all 4 ten oz engelhards! I had no cash with me and they wanted cash. I told them if they could hold it for me and I think I might just turn in all the 90% silver coins I have to get those bars

How is it were you guys are at???
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    DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>Hey guys, for today two of the three stores in my area had no silver bars.

    Last store had 4 10 oz engelhard bars. They wanted 14.70/oz so 588 for all 4 ten oz engelhards! I had no cash with me and they wanted cash. I told them if they could hold it for me and I think I might just turn in all the 90% silver coins I have to get those bars

    How is it were you guys are at??? >>



    That's actually a fairly good price on brand name with today's spreads. A few cents below the going rates.

    They won't be there long.

    The fact they wanted to move them all for cash tells you how scarce they are.

    That transaction would never hit the books.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
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    rah1959rah1959 Posts: 964 ✭
    I'd scoup them up if I were there!

    Can't find any here....none...only ASE at huge premiums...and a few odd-ball rounds....also at a premium....
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    mkman123mkman123 Posts: 6,849 ✭✭✭✭
    deadhorse, I asked them to hold it for me and they said they could, sooooooooooo I hope he really holds them for me! I really wanted it but no cash and they were closing.
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    fcfc Posts: 12,789 ✭✭✭
    tis a good price, currently.
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    CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭


    << <i>deadhorse, I asked them to hold it for me and they said they could, sooooooooooo I hope he really holds them for me! I really wanted it but no cash and they were closing. >>



    Should have had your checkbook with you went you went shopping. We will always take a check in lieu of cash, though we reserve the right to hold the goods until the check clears.

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    rah1959rah1959 Posts: 964 ✭


    << <i>

    << <i>deadhorse, I asked them to hold it for me and they said they could, sooooooooooo I hope he really holds them for me! I really wanted it but no cash and they were closing. >>



    Should have had your checkbook with you went you went shopping. We will always take a check in lieu of cash, though we reserve the right to hold the goods until the check clears.

    TD >>




    Be prepared before going out and try to carry cash ....most shops here....will not charge tax on a cash purchase.....checks get charged tax...can add up quite a bit.
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    DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>

    << <i>

    << <i>deadhorse, I asked them to hold it for me and they said they could, sooooooooooo I hope he really holds them for me! I really wanted it but no cash and they were closing. >>



    Should have had your checkbook with you went you went shopping. We will always take a check in lieu of cash, though we reserve the right to hold the goods until the check clears.

    TD >>




    Be prepared before going out and try to carry cash ....most shops here....will not charge tax on a cash purchase.....checks get charged tax...can add up quite a bit. >>



    That's another good point. In Texas, if your purchase is over $1,000 there is no sales tax. However, all states treat the issue differently.

    I suspect on these bars in question, they were looking for cash only. They got them from someone who needed the money and paid them below spot, they are just going to pocket the difference and there won't be any mention of it in their sales records.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
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