Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: lzc who wrote (63496)	2/25/2009 12:00:06 PM
From: Tommaso	Read Replies (3) of 78419

OK I have found a local dealer. I had a talk with him for at least a half hour. When I first asked about selling gold coins he porbably thought I had one ounce to get rid of and quoted me what seemed to me a somewhat low price. And when I asked what his own selling price on the same coin would be--I think that that point it was a 1-ounce Maple Leaf--he quoted a price about $75 higher. I think the only way I could get a fair price would be to leave, say, 10 ounces with him (getting a receipt, of course)and tell him what I would sell it for. Then if and when he found a buyer (probably at $25 more than my price, I am guessing) he would pay me my price in cash. He was very edgy on these subjects, having been stung in various ways. In particular, he had bought platinum coins at a much higher price and instead of trying to make a market in them he was just holding, hoping to recoup. He obviously did not wish to consider selling me any platinum. That led me to consider this current odd situation. Platinum is quoted at something around $1100, but no dealers seem to be selling any. There seems to be high demand for platinum without much of an effect on the price. That has led me to look at platinum mining stocks and I see that Stillwater and Impala are still way down from highs and not all that far above their lows. So yesterday I bought some Stillwater (SWC) and a few minutes ago I bought Impala (IMPUY). Impala pays a very good dividend when it is making money, unlike almost all US and Canadian precious metals miners.

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