He's been on about that for years, with some progress, there are more and more of the Libertades out there, and now several banks make markets in them [used to be just Elektra] ... spreads are wide though, here's Azteca with b/a 228/264 at the moment - bancoazteca.com.mx
Spot according to kitco is 237.21 ... i got quite a few years ago between 57 and 61, Elektra's ask was not as far off market in percentage terms as now, or in quantity anyway, after buying ten or twelve at 61 i just casually asked about discount for quantity, manager said well maybe you'd also like to buy the fridge and washer you were looking at, lol ... so then a whack at 57, very close to spot and probably his cost, had to order them in and wait a week ... ever since any ask i've seen on them is ten per cent off spot minimum, and some days at some banks twenty-five per cent, quite ridiculous
Back then don Hugo was known strictly as the founder of Elektra, but now more and more for the silver, enjoys some support on it, there's all the standard stupid criticisms from the koolaid drinkers of course ... he's quite prolific, his pieces get passed around, seen as great patriotic thinker by some with a sense of history, the country having been the world centre of real money for a long period in the beginnings of overseas trade |
