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Selling Precious Metals

Commentaries & Views

(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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.