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What would a B & M do?

gdavis70gdavis70 Posts: 256 ✭✭✭
in Precious Metals
I am looking at a small currency deal... 7k mostly high denoms... Along with the currency the person has 90 Krugerrands they want to sell. I am curious how the market works on an order like that. Would a Brick and mortar offer sub spot? It's a big chunk of risk otherwise... but it seems wierd to offer much less.

Thoughts?
AntiqueBanknotes • National Currency

Comments

  • KISHU1KISHU1 Posts: 2,118 ✭✭✭
    Most dealers in our area (including me) are paying 95-96% of spot on most gold in small quantities up to 10 ounces
    For such a large purchase you would most likely have to go go to a large wholesaler or refiner who could handle such a large purchase. Be prepared to get a 1099 or other such tax report on such a large amount

    Good Luck

    Frank
  • derrybderryb Posts: 36,795 ✭✭✭✭✭
    95% max in a bull market, less in a bear market. You are taking a risk that the market won't drop. Seller is betting it will (or he is in desperate need of cash).

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • CaptHenwayCaptHenway Posts: 32,123 ✭✭✭✭✭
    FWIW, we buy undamaged Krugerrands at Spot -$10, unlimited quantities.
    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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