Opinion with Peter Hug
Selling Precious Metals
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
(Kitco News) - This not a solicitation for you to sell your core holdings. But, what if, because of financial reasons or you’re just fed up, you want to sell your physical metals. Maybe because I am old and ornery, I checked our competitors to see what they paid for metals. I was astounded to find that major dealers didn’t even post a bid. I assumed they were playing a clever game whereby clients would call and say Kitco was bidding X and they improved by a few cents and got the deal. So, I called as Joe Public and found that their bids were low and at times not available and they justified that they had too much inventory. That’s a weak excuse, because any dealers worth their salt knows their refining cost and the wholesale bid in the market. They are just either incapable of meeting the cash disbursement needed necessary to carry the inventory or possibly they have no refining agreements to melt the excess metal. Shop around if you are selling and let me say: call Kitco last: 877-775-4862. It is worth the extra effort.