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<p>[QUOTE=&quot;myownprivy, post: 4247161, member: 84588&quot;]You&#039;re 100% correct but only for part of their business in dealing with customers who from them and sell to them. Bullion dealers make their money on the margins. They must buy and sell at all times regardless of price and make money on their premiums. You are correct. </p><p><br /></p><p>HOWEVER, Everything you said does not apply to orders they would place from the US Mint, RCM, etc. All those government mints, all those private mints get orders from bullion dealers at a certain period of time. When did JMBullion lock in a price for 2020 Eagles? When silver was $17 an ounce, $16 an ounce, $18 an ounce? Who knows.</p><p><br /></p><p>So what I am imagining is that what we are seeing now at JMBULLION is A) customers doing a lot of buying from JM and very little selling of &quot;used&quot; bullion to them. So JM and others are running low on stock and B) customers are also buying a lot of their &quot;new&quot; bullion JM bought from government and private mints at unknown prices (but prices probably higher than we&#039;re seeing today). </p><p><br /></p><p>&nbsp;</p><p><br /></p><p>But seeing that they are upping their free shipping offer to triple the order size indicates to me their margins are suffering right now.[/QUOTE]</p><p><br /></p>

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