Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: romannose	8/30/2008 2:00:29 PM
	Read Replies (2) of 116555

Apmex suddenly found 20 Monster Boxes (500 coins) of 1 oz. American Eagles available for $16.60 per coin. apmex.com I thought there were none to be found? What a joke. I think they have a full warehouse full of them. The problem is that they got caught with their pants down when the market plunged and they are hoping for higher prices to unload their inventory. The metals bull continued unabated for so long that most dealers ran at least a portion of their book unhedged to boost profits. When prices plunged, they ended up holding the bag on a bunch of inventory purchased at a cost basis higher than market. Now prices bounce a big higher and they suddenly have inventory at $2.90 above spot. LMAO!!

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