It was clearly bullion
week in the New York Store. Some of you may not realize that we do a very
substantial bullion business as part of our retail operations; we do not only
focus on classic numismatic collectibles. This week we got a call from a
local client who needed to sell off almost 100 one ounce Canadian Maple Leafs
and a bit over 100 South African one ounce Krugerrands. One of the
advantages of selling to us is that we can purchase as much as you have to sell.
We locked in a price that our client was extremely happy with and took
possession of the gold. We sold almost all of it during the week, some to
our wholesale outlets and some to our retail clientele. We also had some
nice retail sales and purchases of bullion in smaller quantities as well. As I
noted above, bullion came to the fore this week and a lot of precious metal
flowed through the store.
