How's your B&M?

Weiss

Stopped in late this afternoon. My dealer and his (kind of) assistant were practically cracking open a Miller and a cigar. Said it was one of the busiest days he could remember. Mostly new blood, snapping up EVERYTHING they could buy.

Starting to sound like a bubble. Starting to sound like Beanie Baby time.

I think justacommeman's advice for $50 sellers to exit quietly tomorrow is a great idea--especially if the market is closed and prices remain at today's close or thereabouts. Monday may not be kind.

guitarwes

My B&M would dry up if it weren't for Ebay. He bought about $30000+ of Silver Eagles last week at a coin show and makes a hiney load off of selling them 1 at a time on the 'bay. He's done this for the past 2 years and has done really really well with his bid-idiot followers, especially in the last 3 months.

He says the gold crowd has stopped coming in and a good many more people stroll in question him about silver and maybe buy a couple dollars face value of 90%.

edmundfitzgerald

Well, that's fine and dandy Weiss, but keep in mind that some people were cracking open the bubbly when
Google shares went from 100 to 250. It just all depends when you feel like celebrating.

Also keep in mind that if you asked around your workplace, you will probably find 1 or 2% of the people actually buy physical.

In other words, we ain't in no bubble. Maybe an investor bubble, but not a sheeple bubble.

1970SilverArt

Silver demand is high in my local area. The main local dealer that I go to has been out of silver. This has been going on for the last 2 weeks or so. I talked to them and they say that whenever they get physical silver in stock, it is gone the next day or so because more people are coming in and buying it and are spending tens of thousands of dollars to get it at these current silver levels. There are some other local dealers that I go to and some of them are also experiencing the same situation. I was lucky to be able to buy some silver from a couple of local dealers in the last 2 weeks including that NGC-graded 1-oz 2001 Year of the Snake that I bought for $43.70 on April 13.

Bochiman

Some stocks are up, but folks are still skeptical of the stock market due to the crash over the last years.
Real estate still costs a lot and folks are skittish there and banks are taking money, making money, but are reluctant to lend money.
Silver is purchasable and everyone is hearing about the run-up. Still, can be bought into for a handful of change, pun intended, and, if it goes down, you still have something (unlike stocks).

I am not a SHTF type of person, nor am I one to think things will always run-up......but, I think there are still legs due to manipulation and the fact that many folks are trying to come into it still.

OldEastside

My B&M guy is more than reasonable in price, He's steppin up the competition againt the
cash fer gold guys that have poped up around town, and I can respect that, the other day
I was in there a guy came in and bought all his circ silver dollars about 50 or so, no culls at
37, and left, two minute later a lady walks in with bag of silver dollars and quoted her to buy
at 35 to buy, totally fair I think.

He also is into vintage watches, and allthough we both retain our poker faces, he's aware
of the fact that I like em to, so when he dabbled that mint 50's Omega Moon Phase in front
of my eyes and said check this out and quoted about half of what it could bring on ebay,
a piece I really can't afford, well that just ain't fair

Steve

pragmaticgoat

I miss the days I could stop by my local B&M, drink coffee, shoot the breeze with the owner for an hour without interuption, and have my choice of just about anything in the shop; great for me. NOW, when I stop in it's like a circus event. He has four employees running around helping several waiting customers to buy or sell silver, gold, or jewelry items. I can wait around an hour to chat and never get the opportunity; great for him now...everything cycles.

morgansforever

Right now a couple B&M's are really tight on buy n sell prices.
ASE's are 1 dollar over spot to buy, and a dollar under when selling.
This may have to with every Tom, Dick, n Harry buying PM's.
I see more signs popping up, buying gold n silver at hotels, nearly every week.

chumley

where I grew up (maine) B&M is a company that makes beans...and they are excellent

OnlyGoldIsMoney

Yesterday my local B&M dealer said he sold $60,000 in silver just this week. I did not bother to ask what he did in gold. In passing he mentioned that someone was buying $15,000 worth of gold on Monday.

This fellow is known locally for his fair prices.

For the first time I noticed he carries a gun and has others discretely hidden for easy access.

Weiss

<< <i>

I think justacommeman's advice for $50 sellers to exit quietly tomorrow is a great idea--especially if the market is closed and prices remain at today's close or thereabouts. Monday may not be kind. >>



Well, I was standing on the shoulders of giants. But you gotta admit I was right, too

gecko109

I had White Castles last night.....how do you think my BM is???

CaptHenway

Should be a Rigling Brothers, Barnum & Bailey Coin Shop kind of day.......

topstuf

splunge

Meltdown

<< <i>I miss the days I could stop by my local B&M, drink coffee, shoot the breeze with the owner for an hour without interuption, and have my choice of just about anything in the shop; great for me. NOW, when I stop in it's like a circus event. He has four employees running around helping several waiting customers to buy or sell silver, gold, or jewelry items. I can wait around an hour to chat and never get the opportunity; great for him now...everything cycles. >>




This sums up my favorite shop as well.
New employees, always 3-5 people jammed in there buying, selling or scrapping jewelry.

CaptHenway

<< <i>I miss the days I could stop by my local B&M, drink coffee, shoot the breeze with the owner for an hour without interuption, and have my choice of just about anything in the shop; great for me. NOW, when I stop in it's like a circus event. He has four employees running around helping several waiting customers to buy or sell silver, gold, or jewelry items. I can wait around an hour to chat and never get the opportunity; great for him now...everything cycles. >>



I know what you mean....when I was a college student in Detroit I used to occasionally go downtown and visit a great oldline dealer named Earl Schill, who knew I had no money but would show me Bust Dollars and Turban gold just to be nice. I would be there in the mid-afternoon when it was slow, and if a customer came in just step aside and go look at books.

Of course, your dealer wasn't making any money schmoozing with you for an hour with no customers. Hopefully he will make enough money during "The Great Silver Rush of 2011" (tm) to stay in business for another ten years, and be able to keep the doors open to schmooze with you when things quiet down.

TD