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 Replies: 13 / Views: 1,029 |
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Valued Member
United States
168 Posts |
Today when I visited one of the local banks where I purchase half dollars, I learned that next week they will start selling bullion coins issued by the US Mint in order to meet the demand from their customers to purchase gold and silver.
I have heard that -- just before the stock market crashed -- Joe Kennedy sold a large amount of his stock portfolio after a shoe shine boy gave him several stock tips. Kennedy correctly reasoned that if someone like that was closely following the stock market, the "bubble" was about to burst.
This business decision by a small bank may be sending the same signal about the gold and silver "bull market."
Edited by NorthShoreMA
10/02/2025 6:32 pm
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Moderator
 United States
34393 Posts |
That is interesting @nor. Was this something that you just were told at the bank or was there a more public announcement by them?
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Bedrock of the Community
United States
10470 Posts |
Who exactly is ordering Gold at $3850 an ounce from a bank?
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Valued Member
 United States
168 Posts |
Spence: A teller who knows that I'm a CRH volunteered that information. The bank manager confirmed the news.
The general public probably does not realize that the premium they will pay to purchase a bullion coin and the discount that will be applied when they try to sell it will eat into their profits if the spot prices of silver and gold continue to increase. In addition, corrections in commodity markets typically are rapid and severe.
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Moderator
United States
187446 Posts |
Very interesting.   Quote:
Kennedy correctly reasoned that if someone like that was closely following the stock market, the "bubble" was about to burst. An old friend called me recently to catch up. I did not think much of it then, but among all the conversation he asked what I thought about the run up of gold and silver. I gave him my thoughts and we moved on to the next thing. Looking back, that was an odd question for him to ask—is he the shoe shine boy in this scenario?  |
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Moderator
United States
187446 Posts |
Quote:
Who exactly is ordering Gold at $3850 an ounce from a bank? The guy who has $3850 sitting in said bank.  |
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Valued Member
United States
168 Posts |
That bank will sell the 1/10th ounce gold bullion coins struck by the US Mint as well as the 1 ounce gold coins.
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Bedrock of the Community
United States
10470 Posts |
Quote:
The guy who has $3850 sitting in said bank. True...... I guess if Costco can sell gold bars then why not a bank? |
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Pillar of the Community
United States
3342 Posts |
It's sort of peculiar for a bank to get into the business of selling merchandise like Costco. They're not in the gold trade just peddling gold. I can't imagine they'd carry much inventory.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
10/04/2025 7:14 pm
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Valued Member
United States
311 Posts |
The bank has a slight advantage. They know your money is good.
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Moderator
United States
187446 Posts |
Quote:
True...... I guess if Costco can sell gold bars then why not a bank? |
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Moderator
United States
187446 Posts |
Quote:
The bank has a slight advantage. They know your money is good. Indeed.  |
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Pillar of the Community
United States
2637 Posts |
Local banks were selling ASEs in the 2000s and for some time in the 2010s. I was not tempted by their markup.
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Moderator
United States
187446 Posts |
Now that you mention that, I seem to recall seeing an ASE display on the counter of the bank that my employer used way back. I went there to swap backup tapes in and out of the deposit box. Oh, tape backups, those were the days.  |
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Replies: 13 / Views: 1,029 |
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Posted 10/03/2025 12:06 am
