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Visited B&M

carscars Posts: 1,904
in Precious Metals
Decided to stop by local shop today to see if I could find any cool bullion pieces. They are still charging $2 over spot for generic artbars up to 10 oz. That kinda surprised me. They had Hundreds of 1 oz bars and 10-15 10 oz bars. I picked 1 art bar out of the batch. I recognized it as one I've sold before. Found one listed on eBay @ $50 plus ship.

They only had 3 gold bars. 1 oz Credit suisse, 5 oz JM & 10 oz JM. I almost picked up the 5 oz JM gold but didn't have the cash on me so I Passed. They had tons of foreign gold coins and 1/10, 1/4, 1/2 eagles, krugs, nuggets etc.... They had a ton more bullion than normal. There was a frenzy of people there selling their jewelry and scrap bullion/90%. They seemed more interested in buying than helping the buying customers in the store.
Its all relative

Comments

  • goingbrokegoingbroke Posts: 1,410
    Why would a dealer want to buy so much when the price is so high?
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • DoubleEagle59DoubleEagle59 Posts: 8,332 ✭✭✭✭✭


    << <i>Why would a dealer want to buy so much when the price is so high? >>



    Because they buy it cheap enough that they can sell it the same day to their suppliers/refiners at a very workable profit.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • JeremyDie1JeremyDie1 Posts: 2,383 ✭✭✭
    Thanks for the post cars. How much over spot were they charging for the gold 10 and 5 oz bars?
  • carscars Posts: 1,904
    I didn't get a chance to ask. Took forever to get someone's attn so I could pick through the silver box. If gold would dip a little I may go after that 5 oz JM bar tomorrow. Wishful thinking anyhow image
    Its all relative
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    That's what I'm thinking: These prices and people squeezed financially means some people who had bought as a store of wealth for dark days ahead but now need the cash--are selling. I don't know if it's anywhere enough metal to move prices, but it could effect momentum(?).

    I was at my B&M two days ago when a guy came in and dropped down 3 K-rands (1980s mintage), and a handful of generic silver rounds. You could tell it was his long, long time stash. If he'd just held it for one or two more days, he'd have made another $100, I think.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    if you do buy the JM 5 oz gold bar, post a pic!
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • jdimmickjdimmick Posts: 9,695 ✭✭✭✭✭
    I am in a smaller local , but the past few days I have had strong hands cave and sell thier silver & Gold due to tough times and need of funds.

    Jim
  • goingbrokegoingbroke Posts: 1,410
    Lucky for me I married a rich woman! All my gold and silver could drop in price 90% and it wouldn't affect my liveing standards. I guess you could say I have strong hands!. And before anyone asks NO my wife doesn't have a sister! LOL!. I will sell when and if the price is right for me to do so and not before.
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • brokeerbrokeer Posts: 69
    Oops, wrong member. Please ignore.
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