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Lakeland, FL. PM Report......
SilverBaron
Posts: 767 ✭
Good size show...lots of dealers....
Silver..... There must be 2000 + oz. on the floor....
1 oz. rounds are $15 to $17 each..... [pass]
ASE's..... $17 to $22 each......[pass]
10 oz. bars are $140 to $190 each .....[pass]
100 oz. bars.... not many, but a few at $1550 each....[pass]
Nobody is walking in with any silver for sale.... EXCEPT.......
I was at a table when a walk in customer was inquiring to sell 20 - Engelhard extruded/machined 100's.
The dealer was giving the customer the song & dance about money being tight and spot dropping...
He offered $900 ($9 oz.) each and told the customer he would have to hold the check untill next Wed.
I stood back, silently, untill the customer walked away... dazed.... I followed the gent to the end of the row
and by some empty tables.... then politely intrduced myself and mentioned that I was interested in buying
all 20 if we could come to an agreement.... wellllllll......
I now have 20 more 100's at $1050 a pop!! YEAAAAAA!!
Gold...... Lots of gold..... Eagles, Maples, K-Rands....ect.
Most every thing is aval..... BUTTT at $90 to $150 per. oz. over spot. .....
and the public is buying with both hands!!!......[pass]
Dealers are paying $50-$70 over spot to get them.... and there are a few folks walking in and selling.
I do not know how much longer this spread will last, buttttt, some of the bigger dealers are
saying that even when the PM markets stabilize..... they are NOT going back to selling 1 oz. gold coins
for spot + $0/$15 over again. Take it for what its worth.
Sooooo..... Thats it for this report...... Next one will be from the Coinfest show in CT.
Keep on stack'n!!!
Edited for typo.... Thanks gwes..
Silver..... There must be 2000 + oz. on the floor....
1 oz. rounds are $15 to $17 each..... [pass]
ASE's..... $17 to $22 each......[pass]
10 oz. bars are $140 to $190 each .....[pass]
100 oz. bars.... not many, but a few at $1550 each....[pass]
Nobody is walking in with any silver for sale.... EXCEPT.......
I was at a table when a walk in customer was inquiring to sell 20 - Engelhard extruded/machined 100's.
The dealer was giving the customer the song & dance about money being tight and spot dropping...
He offered $900 ($9 oz.) each and told the customer he would have to hold the check untill next Wed.
I stood back, silently, untill the customer walked away... dazed.... I followed the gent to the end of the row
and by some empty tables.... then politely intrduced myself and mentioned that I was interested in buying
all 20 if we could come to an agreement.... wellllllll......
I now have 20 more 100's at $1050 a pop!! YEAAAAAA!!
Gold...... Lots of gold..... Eagles, Maples, K-Rands....ect.
Most every thing is aval..... BUTTT at $90 to $150 per. oz. over spot. .....
and the public is buying with both hands!!!......[pass]
Dealers are paying $50-$70 over spot to get them.... and there are a few folks walking in and selling.
I do not know how much longer this spread will last, buttttt, some of the bigger dealers are
saying that even when the PM markets stabilize..... they are NOT going back to selling 1 oz. gold coins
for spot + $0/$15 over again. Take it for what its worth.
Sooooo..... Thats it for this report...... Next one will be from the Coinfest show in CT.
Keep on stack'n!!!
Edited for typo.... Thanks gwes..
Silver Baron
********************
Silver is the mortar that binds the bricks of loyalty.
********************
Silver is the mortar that binds the bricks of loyalty.
0
Comments
<< <i>AGE's..... $17 to $22 each......[pass] >>
you passed on these???!!!???
Too many positive BST transactions with too many members to list.
NICE pickup on the 100's! You handled it in a very ethical manner!
Too many positive BST transactions with too many members to list.
<< <i> I now have 20 more 100's at $1050 a pop!! YEAAAAAA!! >>
Good deal. Did you bring a hand truck with you?
Funny you should ask..... he was pulling them around with a hand truck...
4 boxes.... 5 to a box....
We agreed on the price... I checked the bars over.... handed him the envelopes....
He counted..... all was good...
and then laughed about my borrowing the hand truck to go to
my car..... and if he could trust me to bring it back!!!
Keep on stack'n!!
********************
Silver is the mortar that binds the bricks of loyalty.
<< <i>
<< <i>
I now have 20 more 100's at $1050 a pop!! YEAAAAAA!!
>>
Good deal. Did you bring a hand truck with you? >>
That was an example of where it helps to be in the right place at the right time.
The first of this week, I had a local B&M shop call me and offer $17 each for all my Engelhard Prospector rounds.
Sold over 800 to him. I have no idea what he was getting, but he must have had a buyer with a pocketfull of $$ and an urge for those only.
The next day he didn't have any silver in the house.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Ethical? Did the guy offer you them at $10.50/oz or was that your offer? Did you pay the show promotor or some guy you know with a table a fee for buying on the floor?
roadrunner
<< <i>Did you pay the show promotor or some guy you know with a table fee for buying on the floor? >>
Is this some kind of I.Q. test?
Worry is the interest you pay on a debt you may not owe.
cut out the middleman is a wise thing to do. congrats!
edited to add: you must walk around with a TON of cash. amazing you had it on you.