Pmh Bankruptcy - Coin Community Forum

To participate in the forum you must log in or register.

Author	Replies: 5 / Views: 2,968
Lostwords Pillar of the Community Canada 1528 Posts	Posted 02/25/2013 11:15 pm Hi hope this does not affect anyone here but Precious Metal House in Toronto (online) seems to be going through bankruptcy http://pmhbankruptcy.proboards.com/...lay&thread=3 I almost made a purchase a week or 2 ago with them.. luckily I decided not not. Report this Post to the Staff

sel_69l Bedrock of the Community Australia 21786 Posts	Posted 02/26/2013 12:38 am All it requires for a PM dealer to go down is a hard decline in PM prices and to trade on margins that are too narrow. They could be otherwise be quite honest. The only defence against this would be high turnover with no inventory, and to buy against a pre order. Report this Post to the Staff
miggs Valued Member Canada 281 Posts	Posted 02/26/2013 04:05 am I never bought from them and I feel very lucky right now if this is what's going on. I made it a point from the beginning to only purchase through a c.c. or PayPal. Ya it cost more but I wouldn't be worried if I had a pending order right now. You can't be in this business on a shoe string budget or because gold went down a $100. Maybe they're just waiting for a price recovery by shutting down their website with a "[maintenance]" as a reason. Buy low,sell high Report this Post to the Staff
Rockdaddy Pillar of the Community 1007 Posts	Posted 02/28/2013 10:06 pm No, there are bankrupt. Report this Post to the Staff
Fat Freddy Pillar of the Community United States 1200 Posts	Posted 03/01/2013 10:10 am This isn't the first time a national online PM dealer has gone belly-up. http://www.bizjournals.com/tampabay...tml?page=all Read the 2/15/12 item (4th down from the top) from Tony S at this address. http://www.sitejabber.com/reviews/w...llecoins.com This story is not "current events" any more, but it shows what can and sometimes does happen. I never dealt with National Gold Exchange, but I guess I'm lucky I didn't. Report this Post to the Staff
denco7 Pillar of the Community United States 2543 Posts	Posted 03/01/2013 10:53 am Quote: I never dealt with National Gold Exchange, but I guess I'm lucky I didn't. Isn't he also now president of ICG ? Bankruptcy isn't always just a way to screw your creditors. There are also unscrupulous creditors out there just waiting on legitimate business' to falter, so that they can swoop in and liquidate your years of honest , hard work for a quick profit. It goes both ways. Many PMH just filed for reorganization bankruptcy to keep the wolves at bay while they wait for PM prices to rebound and tighten up the ship a little bit before coming back stronger. Bankruptcy can be a way to screw people buit oit can aslo be a way to come back better and stronger. Report this Post to the Staff
	Replies: 5 / Views: 2,968

To participate in the forum you must log in or register.

All Forums Category: General Numismatic Forums Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum

The First Dollar, your premier source for bullion and rare coins. See our bullion list on the site and the coin inventory on ebay.

Silver Gold Bull US is the United States leading bullion dealer. We deliver gold coins, gold bars, silver coins, silver bars and precious metals to your door. Order today!

View Last 100 New Topics

View Last 100 Active Topics

Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us | Advertise Here | Privacy Policy / Terms of Use

Coin Community Forum

It took 0.25 seconds to rattle this change.