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TRADING RESUMES TODAY UNTIL SPENDING LIMIT MET

To Our Trading Partners,

We are all facing difficult conditions and erratic price movements in these markets.  The drop from record high prices has been swift to say the least.  Our goal is to return to “normal” operating circumstances and soon as possible.  Monday will be the first step in continuing to provide the fastest payments and processing in the industry.  Below we’ve outlined the adjustments taking place:

∙ RETURN OF ADVANCES (FOR NOW)

Advances to customers will resume starting Monday at a rate of 50%.  We hope to keep this in place and perhaps even increase the advance rate.  For right now, modified advances are back!

∙ BUYING LIMITED AMOUNTS OF SILVER BULLION

We will resume buying a limited amount of 10oz, Kilo, and 100 oz LBMA Approved Silver Bullion Brands Only. Nothing smaller. Examples of LBMA brands include Asahi, RCM, Heraeus, etc  A full list of LBMA approved silver brands follows: www.lbma.org.uk/good-delivery/silver-current-list#-

∙ TURNAROUND TIMES- FASTER!

Gold and silver processing and electronic payments will be 3-5 business days after receipt for all orders (a nice improvement!)

∙ DAILY BUYING LIMITS- STILL IN PLACE WITH HIGHER LIMITS

We started this last week because of the turmoil with other companies that stopped taking metal and paying customers.  Rather than get overrun with material, we will continue to have daily buying limits in place for the foreseeable future.  Those limits will be raised this week. As with last week, if we hit out buying limit, we will post on our website and initial phone message.   All incoming calls will remain open normal business hours for people that would like to purchase metal and administrative requests.

We hope these positive changes can make all our jobs easier.

Sincerely,
Thomas Dzielski, CPA
Director of Wholesale Ops