My experience at the LCS today (actually a primary bullion dealer in my area).
This is me getting back from a trip to Montana so I have no idea what it was like this week since Silver passed the $100 mark around the 22nd.
Tuesday 1/29/26
10am open, line out the door – even had those ‘aisle pylons’ with the stretch bands at the top to manage the crowd.
Customers divided into two aisles – buyers and sellers (sellers were 2:1)
New faces at the counter (short staffed and recruited their daughter-in-law if I had to guess)
Maximum (sell to the LCS) per customer for silver was 100 ozt (any tyype) or $50 FV US junk. Severely constrained selling.
Maximum cash-out from a sell to the LCS was $1k, with the balance being a check up to $10k. Anything over 10k was a ‘delayed’ check (whatever that is).
The only mass quantity of silver accepted was for monster boxes – sovereigns in MINT SEALED boxes – if the seal was broken, no dice, 100 ozt max. No cash was involved in my metals trade so they accepted mine.
They filled my platinum order (from 2 weeks ago) and, although all were sealed BU – they were a mish-mash from diff’t mints (like their supplier was scraping the bottom of the barrel to fill the order).
Platinum cannot be ordered and walk-ins get bought same day. Palladium hasn’t been seen in months.
They are all out of stocked Gold Buffalos, The AGE’s they had, while in caps and BU shape, the cases were scratched – clearly all walk-ins. They said I took what they had left for the day.
The $ spread (buy/sell) for impared silver eagles and BU eagles is less than a buck – I sold them all my #2 eagles a week ago.
Lady next to me had a satchel full of sterling and other misc. silver trinkets – the clerk told her where the nearest refinery is located.
Lots of guys bringing in their ammo boxes.
While in Montana, it was mentioned in passing (people for whom PM’s are furthest from their reality), the Minister on Sunday informed the congregation that silver broke $100 per ozt – if that isn’t public awareness saturation…..?
Today’s effective (including prem’s) silver oz – for – gold oz trade was under 50:1.
Sounds like they are Overwhelmed YYZ
Getting close to a mania ?