#1 Fri, Nov 4, 2011 - 7:48pm
having given out this info on main strEEt for a few wEEks i wanted to start a thread about the action at the LCS i work at part-time in the afternOOns, once i get oFF from my rEEl job ;o) it is a smaLL family run shop. no internet sales or marketing. just kEEping it simple...i have learned much in my 6 months here. i stick w/ the buLLion, graded and numi's i leave to the pro's here ;o)
so as i have reported previously, we drew a line in the sand and did not seLL 90% for leSS than 25x face into this latest smack down. that is stiLL the rate today. if i go by my wholesaler cheat shEEt we should be seLLing @ 24.4 on the close today. we had aCCumulated quite a bounty while not seLLing much. we were buying it up at 10-20% back of melt depending on quantity. but this wEEk has sEEn numerous buys of the magic $1500 in 90% so much that we have only about 500 face on hand. the Ag that has bEEn coming in has bEEn inheritance or economicaLLy chaLLenged individuals. have not sEEn Ag in large quantity come in for wEEks. i have 3 .999 rounds. i just bought 1/2 hr ago. we have not held a supply of these for wEEks. wholesaler has them on 5-10 busineSS day wait, we have not purchased through him. ASE ~~ i have two. prOOfs, just bought 20 @ 40. that is it. no other G'ment issue .999. premiums have stayed @ 3 over on generic and 6 on G'ment.
that is it for now...visit your LCS.
is a very diFFerent story. lots of seLLing in here. last wEEk we purchased 16 1 oz peices and this week that number is over 20. in the last 1/2 hour i have had two different customers each seLL us over 10K in Au. lots of that stuFF. paid 1650 each for 5 st.G's and the other customer had 3 ML and 3 50 peso, 2 20 peso. 1750 on the 50. wiLL hold them through Sat but dump them prior to the market open on monday. lots of Au right now. premiums are not moving.
Edited by: survivalwstyle on Nov 8, 2014 - 5:13am