Episode Transcript
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Speaker 1 (00:06):
This is News Radio seven to ten. Wntm's asked the
expert Uncle Henry here once again with Ron and Anna
of Mobile Bay Coins and Fine Jewelry. You'll find Mobile
Bay Coins and Fine Jewelry in beautiful Midtown Mobile at
twenty two to oh four Government Street. You'll also find
them online at Mobilebacoins dot com and there's always great
(00:27):
pictures on the Mobile Bay Coins and Fine Jewelry Facebook
and Instagram pages. Ron and Anna, I've been thinking about
you both just about every day since we last saw
each other. Because gold silver too. But gold, I mean,
it has been a top story in the economy over
the last several weeks well really, I don't know, six
weeks months now.
Speaker 2 (00:48):
Yeah, at least over six weeks. But silver is the
kind of the golden child right now. It ran up
so fast and so strong. Everybody was just getting the
silver bug. And of course, thank goodness today there was
a correct and silver is actually back under fifty and
gold's right around forty one twenty eight. So there it
was a pretty good sizable correction. But nothing, I mean
(01:09):
didn't crash. It's just a decent correction. And people were like,
I mean, what should I sell. I'm like, no, we
wanted it to have a correction because if it didn't correct,
then you're gonna have bad things.
Speaker 3 (01:17):
Anytime you have a stock, any type.
Speaker 2 (01:19):
Of investment vehicle keeps going up, and without corrections usually
it comes down really fast.
Speaker 1 (01:23):
So tell me, So, you were here two weeks ago
talking about gold was reaching new haunts. Two weeks ago
you just talked about it went down to forty one.
Speaker 3 (01:33):
Yes, I know out there, yeah, yeah, forty one.
Speaker 1 (01:38):
So so tell me how did your customers react to
all these moves with gold and silver.
Speaker 4 (01:45):
Some people were excited. Some people were frowning because they
didn't want you know, they were like, ah, shucks, I
should have bought it like two months ago, you know,
because it's been climbing. So it was good and bad
reaction on, you know, both sides depends on the story
and what was going on. But people that were obviously
selling things trying to take a profit, they were happy.
(02:06):
People that are trying to sell scrap are also happy.
People who are brought into states all happy to sell.
But of course people that wanted to invest into gold
and silver, they were hesitant. Didn't do it. Don't pull
the trigger and you know it is what it is.
Speaker 1 (02:21):
So in the last couple of weeks, have you had
more sellers or buyers in terms.
Speaker 4 (02:24):
Of gold, it's been about fifty to fifty really okay, yeah,
because people are I'll be selling a coin a gold
coin and turn around and then buying a gold coin, selling, buying, selling,
buying constantly.
Speaker 2 (02:36):
And we gauge it based on how much we have
to order from wholesalers. So if we're able to buy
enough from the public, then based on our sales, then
we're in good shape. If it's a shorter on the
sale or excuse me, on the buy in and big
on the sales and then we have to order wholesale.
We try to keep our inventory constant. We don't really
try to play the markets or anything else. We always
want to have a good inventory selection. And the only
way you can guarantee that is to make sure you
(02:57):
keep inventory that you know, stocked.
Speaker 1 (02:59):
Right.
Speaker 4 (03:00):
Speaking of that, we have customers that drive like an hour,
sometimes two hours just to come to our shop and
buy gold and silver. So there's those people that commute
for about you know, two hour trips to back and
forth or whatever it is, or four hour trips for
some people.
Speaker 3 (03:15):
Make sure you have stuff.
Speaker 1 (03:16):
Yeah, well, the world has been paying such close attention
to gold and what's happening with gold? Can you spend
a minute explaining what has going on with silver? Did did? What?
Did refinery stop taking silver? What happened?
Speaker 2 (03:30):
Yeah, the all around the country, everywhere, silver got so
high and it stayed over fifty for days, I mean
almost five days. So people decided to profit take that.
A lot of people and a lot of our customers
we tell them to pick a number. If you're hedging,
but you decided to sell your part of your hedge
and then sit on the cash or put it in
the stock market until silver has a correction, then you rebuy.
(03:51):
You build your supply that day trade, but you pick
a number and if it hits that, you sell it.
Then you rebuy when you're comfortable. So a lot of
people hit that number. We had lots and lots of
people coming in selling silver last week, but almost just
as many people, like Anna said, were making purchases. So
coming in the door then going out the door. And
we have to hold everything we buy from the public,
(04:11):
so we have to even have that further gauge we
have to wear. Okay, this time, what do we have
in hold, what do we buy today, and what's come out,
and what do we sell and we balance that every
day at the end of the day before we get
to go home.
Speaker 1 (04:22):
So the refineries paused buying silver because so many people
we were selling it.
Speaker 4 (04:26):
They were backclogged. Yeah, they've took in so much, you know,
bullying and scrap and the coins and things. So they
were actually a lot of not even refineries, but some
of our suppliers were also or.
Speaker 2 (04:39):
You took a pause and it was mainly on stuff
less less than nine nine nine, So everybody was still
trading all silver rounds and bars and stuff like that.
It was like sterling silver because you don't have a
lot of public coming in and say, hey, let me
look at your sterling silver pieces. So flatware and things
like that and junk sterling silver jewelry go to the
refiner and around the country that's stuff was coming in
(05:00):
and droves. As a matter of fact, when the day,
thank goodness, it was the day after they stopped the pause,
a lady came in with about a thirty thousand dollars
coffee and tea set with a giant tiffany platter. I
mean a lot of silver. I would have hated to
buy that. We pay strong and then find out you
have nowhere to go with it, absolutely nowhere to go
with it.
Speaker 4 (05:20):
On it for weeks and you know you couldn't shume it.
Speaker 2 (05:23):
It was so big it would have cost more to
ship than your profit would be in the items. So
stilling silver is backed up. And I mean the refinery
that we sell to and over in Florida, the gentleman
and the other guy that works there were tag team
and staying there twenty four hours a day because they
couldn't take any deliveries in Dallas, the main refinery that
was they had to pause nowhere. Yeah, they had nowhere
(05:44):
to put anything, so it was full. So until they
get all the stuff they purchased into the building and melted,
then they're going to start picking it up again.
Speaker 3 (05:51):
So it probably be three weeks, I think.
Speaker 1 (05:53):
Okay. So so the day that we're we're having this conversation,
you say there was a correction today, yes, twenty first, Okay,
So what do you think is going to happen? I
know you can't predict the future, but with a correction today,
are things gonna calm down a little? Bit.
Speaker 2 (06:10):
I think so, And uh, well, it depends on what
happens after hours and openings tomorrow. After hours it was
dropping a little bit, and then you know, we will
know tomorrow morning what happens. But I think it'll it'll
go back up because everything I read today was basically
that it was major profit taking. And then after that
there was some panic selling by people that had ETFs
(06:31):
electronically traded funds that said, oh, it's crashing, I'm selling.
And then of course that just adds to it. If
people would just sit back.
Speaker 3 (06:38):
And don't why book your loss?
Speaker 2 (06:40):
And I mean, and I'm not saying everybody that sold
while it was panic and someone booked their losses, but
a lot of them did. We talked to a few
people today that sold like I lost about you know,
they bought.
Speaker 3 (06:49):
Like two weeks ago.
Speaker 2 (06:50):
It's like, why would It's not crashing, it's profit taking
and a little bit of panic selling.
Speaker 3 (06:54):
And the things that drove silver to where it is
are not going away.
Speaker 2 (06:58):
The amount of silver that's used in manufacturing, manufacturing of
circuit boards for AI and stuff like that, that's growing,
it's not going away. And then the LCD screens you
go to target or Walmart, and these TVs are getting cheap,
but takes about an ounce and a half two ounces
of silver per fifty inch TV, and that's unrecoverable. In
the United States and China, they don't care about their environment,
(07:20):
so they let them do it there By the United States,
you can't refine that stuff, so a lot of it's
considered lost silver. They go into landfills and stuff like that.
It was helped driving the price of silver, along with
some major countries and banks recommending to their customers and
their investors that they add silver to their headge if
they're using gold, platinum and add make sure they add
(07:41):
some silver to it. So we had a lot of
newbies coming in the last two weeks and while it
was slammed, and you're doing your best to give them
a quick lesson, because nothing's worse than somebody coming in
in my mind anyway, and saying I want to buy
ten thousand dollars worth of silver in their new customers.
So you start talking to them and realizing they don't
know how to tell if something is real or fake,
and you just don't wanted to throw money down, so
(08:01):
you try to have a discussion with them and see
where they're going. If they're just trying to get in
on the investment or whatnot, then I mean, I'm not
an investment advisor, but I'll tell them what I will
do or would do, and then they could make their
own decision.
Speaker 1 (08:13):
You're listening to Ron and Anna with Mobile Bay Coins
and Fine Jewelry at twenty two oh four Government straight
in Midtown Mobile. So at this moment, do you have
good deals on gold and silver? Somebody wants to buy
gold and silver, do you have good deals?
Speaker 4 (08:26):
Not so much on gold. The cougarans are still going
to be your most less premium item. And then on silver,
we do have one hundred hounds bars kilobar deals right
now for like a dollar over, and there's a few
things here and there, some silver eagles. I think we're
all sold out of rounds, but in about.
Speaker 3 (08:46):
A week we're rounds. We're sold out the rounds we
had a deal on.
Speaker 4 (08:49):
True true sorry, yes, correction where the deals on silver
rounds are done, but until about what a week and
we'll get more silver rounds for special deals and things.
Speaker 3 (08:59):
There's new stuff that we do deals on almost every day.
Speaker 2 (09:01):
As a matter of fact, we have a customer walking
to say, a great guy that saw me unpacking a
bunch of stuff. He's like, this is already spent my
money with Annam, but I'll be back tomorrow. Can you
set me those aside? So and the stuff that doesn't
make it, will send an email blast out or put
it in the newsletter, or take pictures and text it
to customers that have that on their want list. So
we flip a lot of them out of items that way.
So make sure if you had items you're looking for
(09:23):
our deals, you're looking for contact and or I and
we'll add you to the list.
Speaker 1 (09:26):
Okay, Now you can sign up for that newsletter, sign
up for any email blast that happens by going to
Mobile baycoins dot com. Go to mobile bay coins dot
com and sign up for that. You can also call
mobile bay Coins and find jewelry at two five one
seven two five fifteen ninety. That's two five one seven
two five fifteen ninety. So people still buying Christmas rounds
(09:49):
with all of this stuff going on, people still want
those Christmas rounds.
Speaker 3 (09:53):
You bet had.
Speaker 2 (09:54):
We're actually cheaper right now than the wholesale that we
buy them from.
Speaker 4 (09:58):
Because the retailer Taylor we're a few bucks cheaper y
at because I always try to give the customers the
best deal for their bucks. So like I always try
to if we can make a break and still like
give them a break and still make money, I'm happy
to do it.
Speaker 2 (10:11):
And we bought these wood back in June. Solver was
let less, so we passed.
Speaker 4 (10:16):
But our recovery costs is going to be more.
Speaker 2 (10:18):
Yeah, the replacement cost goes up. So around Christmas, get
them now. That's what I'm talking about. I headed on
my notes here to talk about if you're looking for
Christmas rounds, get get in there now, and Anna's going
to do another Christmas. They're going to go up because,
like we just said, their wholesale price is more higher
than what we're selling them for. So if you want
to get them cheaper, get them before we run out.
(10:39):
And we still have quite a few in stocks, so
come by the shop.
Speaker 1 (10:42):
Okay, what other deals do you want to talk about?
Speaker 4 (10:46):
Jewelry, We just got in some coin bezels and some
strolling silver chains that we normally keep in stock, So
if you're looking for coin bezzle, you can call a
store to find out if we have what you're looking for.
And because we were out for a while for some bezzels,
and then we have deals on you know, gold, jewelry, silver, platinum,
(11:08):
different rings. I've had customers today it's asking about layaway,
so we are doing layaways and it's a third of
the price if you wanted to put money down, yeah,
so dow way you can get paid off by Christmas.
Speaker 2 (11:21):
And we also have deals on silver proof sets. We
bought a large lot of silver proof sets and basically
you buy it like normal silver, so that is a
really great deal, like buying it like junk silver. But
their proof sets have all the boxes and paperwork and
you get the proof coins almost at face value, so
you're getting a nice deal on proof sets, make great
Christmas gifts and a large variety of those babies available,
(11:42):
so all new stuff all the time. But that deal
came out today. That was one of the things I
told you. The customer set put for aside it for me.
But I got about one hundred of them, so I
have a few, so get them while they're they're there
and the silver is still hot and prices came down,
so get it while it's a little cheaper.
Speaker 1 (11:57):
What about investment grade collectibook coins run.
Speaker 3 (11:59):
Got some great stuff.
Speaker 2 (12:00):
I got a new five dollars gold delana in so
it's a fan of Delanaga Jarjia gold.
Speaker 4 (12:06):
Somebody had called us several times about that the last
couple of weeks, and I think they've been waiting for
that coin.
Speaker 3 (12:10):
Yeah, did you push that on Facebook? No, I haven't.
I haven't taken it. We've I'm like, this is not
an excuse.
Speaker 2 (12:15):
We've been so busy that there has not been time
to do a lot of the extracurricular stuff like go
to the bathroom.
Speaker 4 (12:21):
Yeah. Yeah, I was just about to mention. I was like,
I think I there was a day during the week,
one of the days we're so busy, I got to
use the bathroom like once, and that was right at
the end of the day. So I've been holding it
the whole day because I was like, I couldn't walk away.
Speaker 2 (12:33):
Yeah, now lunch is right now, so I just need
to breakfast and go. I mean, it's like, and we
appreciate it.
Speaker 3 (12:38):
We're not whining, but we're winding.
Speaker 1 (12:39):
Well it is. It is a history. It's a historic
time in your industry. Yes, I mean I've been talking
to Mobile Bay Coins and find jewelry for years and
this has not happened. No, this is this is something
that is not normal.
Speaker 3 (12:53):
No.
Speaker 1 (12:53):
I can remember talking to you and Angelo for years
about silver and wondering would it ever go up as
Hines people thought it should. Yes, finally it happened. It
makes a move.
Speaker 2 (13:05):
Yeah, yeah, in years years, I mean so, yeah, it's
performing very well. I mean it's silver and gold of
all performed a lot of stock market indexes in the
last year. I am not advocating cell your stocks and
buy gold and silver at all. People, I'm talking use
it as a hedge and by cost average as you go.
Just be smart and if you haven't done it before,
you don't know what cost averaging is or you don't
(13:27):
have a plan. Although I'm not an investment advisor, I
can share with you what I do and Nancy does
and we've been successful at it for many years.
Speaker 4 (13:33):
Well. See, the average person, in my opinion is my
opinion solely, So don't go judging other people or anything,
but an average person that has no idea what you
know golden silver is all about. They don't know what
it actually means to like invest or protect their dollar
or a hedge of their dollar. It's just like with
anything else, there's inflation, so your dollar gets weaker, so
(13:57):
you actually can buy. You have less buying power for
your dollar, is what's happening. And with going silver, you
have an opportunity to basically lock it into. As silver
and gold grows, your money's gonna grow because you're gonna
get more moneys out of it. So you're now losing
because some people will stash up cash for years, you know, decades,
and it's actually worth less you can buy. You have
(14:18):
less buying power with that money. As I can't say
it's worthless, but you have less buying power because prices
have went up on things.
Speaker 1 (14:26):
That's why so many of us are angry. Yeah, we've
saved we've saved our money all these years, not our
gold and silver, but we've saved our money and we
can't we can't buy as much with it.
Speaker 4 (14:37):
I know we were. You know, I had a customer
that we were talking like groceries, Like used to be
able to go to like Walmart or gas station or
whatever it was, and you could buy so much for
one hundred dollars. You walk out with bags of stuff.
Now you walk out with like you're lucky to walk
out with one bag. Yeah, you're lucky to walk out
with one bag. And somebody had mentioned something to me
today too about gold silver and prices going out up.
(15:00):
They were hoping that silver was gonna hit like, I
don't know, like seventy five dollars an dolls.
Speaker 3 (15:04):
Or no, no, no, not within a couple of weeks.
I'm like, I said, there one hundred.
Speaker 4 (15:09):
Dollars or something. I'm like, I'd be scared because that
means our eggs and prices of milk and bread are.
Speaker 1 (15:15):
It would be like, what horrible thing has happened in
the world.
Speaker 3 (15:18):
Yes, yes, it would probably be.
Speaker 2 (15:21):
The US dollar be one of the only things that
could really make that happen really fast, So that would
be super scary. Nobody wants to see that, So don't
wish for that. Nothing wrong with wishing that your hedge
performs well a little bit, just for good luck. But
a hedge, to me, golden silver is meant is a
hedge against losing your value and your dollar or your
stock portfolio and a recession. It kind of keeps your
(15:42):
things bound in a nice type triad investment pattern.
Speaker 1 (15:46):
So so with all of this going on, you just
talked about your being so busy you have to deny
yourself bathroom breaks and food. Do you still have time
to do a free appraisal? If somebody wants their items
appraised and they're not even thinking of selling, can you
we'll do the free appraisal.
Speaker 4 (16:01):
Yeah, we do that all the time. We had several
come in today. Yeah, but it's like a shoe box
worth or so, something that we can go through in
fifteen to thirty minutes on average is free. Anything that's
going to take us longer or something that you can
always drop stuff off and if you're not not in
a hurry, we can go through it and not charge anything.
For a bigger collection, as long as we have a
(16:22):
place to store it, that's the main Give.
Speaker 2 (16:24):
Us a call two ninety and an or I can
discuss it with you. Because Eric had to today. That
took over an hour and a half and no problem.
We don't mind that.
Speaker 3 (16:32):
But when it's busy, it takes up a counter.
Speaker 2 (16:34):
So then we got to kind of shift how we
work and we'd much rather have those plans so we
can get them in at the right time and make
sure we have people allocated to do that appraisal.
Speaker 4 (16:42):
Make an appointment on our website. Yeah, within like twenty
four hours you coming in, so I can kind of
plan our days ahead of time.
Speaker 3 (16:49):
Is there just a link on the website to do that?
Speaker 4 (16:51):
They can just click on the appraisals. There should be
a little button says appraisals, click on it and you
can just register from there.
Speaker 1 (16:57):
Again, that's at mobile bay coins dot com. So what
about the people can get their stuff appriced for insurance purposes, Yes, sir,
they can use your appraisals with insurance companies. Should people
be doing that with the prices doing what they've been doing.
Speaker 2 (17:14):
Yes, because you got to make sure. Some insurance companies
have a cap, but most of them are replacement at
current stock price levels and the spot prices on the
stock market stock market, so if you have a bunch
of silver or gold that you bought it ten years ago,
the prices were less, So you've got to make sure
you annually update and notify your insurance company because if
something happens, they may or may not have a current
(17:36):
level as far as what your replacement value is. So
you need to discuss that with your insurance broker and
get the right plan. Because as prices go up, you
want to make sure you're covered. If I bought a
bunch of silver. You know, back when Angelo and I
used to buy silver together at thirteen to eighteen dollars
an ounce and then today lost, that's triple the value.
But you're going to get what you paid back in
the day, So make sure you keep those portfolios updated.
Speaker 1 (17:58):
Okay, and again that numbers too. I have won seventy
two five fifteen ninety to call Mobile Bay Coins and
find jewelry about that appraisal or with any other question.
So are you so do you have people coming in
wanting to buy gold but they don't want to buy
a full ounce? Is that happening now? Are people wanting
to get in that bad where they buy they're buying
(18:19):
the stuff that's even less than an ounce?
Speaker 4 (18:20):
Yeah, yeah they are. And again it's one of those
things that it's great to have in your collection a
few pieces. But I wouldn't recommend putting all of your
money into fractionals because you end up with a higher premium. Now,
if you're planning to do it over time or pass
it down to your grandchildren or something, then go for it.
Speaker 1 (18:38):
Okay.
Speaker 4 (18:39):
Prices did go up on a lot of fractionals because
that's one of the hot sellers when this kind of
thing's happened. So fractionals run out first, I feel like
because the people are trying to you know, some people
don't have thousands of dollars to put in the goal,
so they'll spend a few hundred bucks or something like
that and they'll buy some fractionals.
Speaker 1 (18:56):
And so you're telling me that the fractionals have a
higher premium because there's popular.
Speaker 4 (19:01):
Well part of the reason. Yeah, so prices went up
because goal went out, but also people running out of
stock on fractionals, so prices premiums went up on that too.
Speaker 2 (19:09):
But we do get deals in those. As a matter
of fact, we're gonna put a it'll be this week.
We'll put a picture of it in Facebook. It's not
a lot of them, but it's ten quarter rouns special
issue Canadian maple leafs, so one quarter ounce and they're
sealing in the original plastic from Canada.
Speaker 4 (19:22):
And then we have the two and a half ounce
I think it's not two and a half ounces. Two
point two point five grams of goal bars that came.
Speaker 2 (19:30):
In a bunch of those, So if I mean somebody
can get deals on those, and we will put put
pictures online tomorrow on the website and on the email
blast and everything else. So if you're if you're looking
to get into it and you haven't ever done it before,
make sure you come by the shop and talk to
Anna or I and will kind of give you a
free little lesson, share some of the knowledge we've acquired
over the years, and make some recommendations.
Speaker 4 (19:51):
It requires math. So people just did like panic and
I have to get out of diagram. Basically, I'm not
a great in a math. I do basic math, but
if you ask me to calculate something like some algebra
or something trumanountry, I'll just be like no.
Speaker 2 (20:07):
But just don't scare anybody if we're not. This does
not involve trigonometry.
Speaker 4 (20:11):
It's basic math skills.
Speaker 1 (20:13):
Yes, well, And I have a feeling that you say
you're not good at it. I bet you do quite
well in the type of math you need in your industry.
Speaker 2 (20:20):
She has the fewest errors in the shop on tickets.
Speaker 1 (20:24):
Oh, I'm not good at math, and she has the
fewest errors in the shop on tickets.
Speaker 2 (20:28):
And when I I'm real pretty good, especially on basic math.
But when I have a problem to suck her in
and she figures it outright, I'm.
Speaker 4 (20:34):
Like dyslexic when it comes to numbers, you can ask
can switch them around. Yeah, so I'm really careful and
cautious when it comes to numbers. You can.
Speaker 2 (20:46):
I've only caught her maybe once or twice and yeah,
and the whole time I've known her with something backwards
on a ticket, it's because she double checks herself. Now
I've seen tickets. She corrected herself, but they're right. That's
the whole idea.
Speaker 3 (20:57):
If you make a mistake, you fix it initially in
move on. So she's very very.
Speaker 4 (21:02):
I don't mess around when it comes to numbers.
Speaker 1 (21:04):
Okay, well we've got about a minute left here, just
about out of time. Anything else you want to throw
out there before we're out of time, well, come by
the shop.
Speaker 4 (21:11):
Right, Yeah, this is the perfect opportunity to basically get
the best top dollar for your scrap goal, because I
had several ladies come in today with like scrap jewelry
stuff where they had gold hoop earrings when one was missing,
one was dented, something got stepped in, ran over. Whatever
it is. If you think you can't get anything for it.
Bring it by the shop first, because some people don't
(21:32):
even know if they have gold or silver they may have,
they think it's just costume or jump. Before you throw
anything away, come by the shop and let's check it.
Speaker 2 (21:41):
Out and shop it around, and make sure you give
us an opportunity to make your offer on your scrap
because we pay strong, we need it. We added some
new rings for the Christmas season today, so it doesn't
have to be junk. It could be something you just
decide you don't like anymore and you don't wear. Bring
it by and let ann and make you an offer
on it.
Speaker 1 (21:58):
Very good. That's Mobile bay Coins find Jewelry twenty two
oh four Government Street and Midtown Mobile their telephone number
two five one seventy two five fifteen ninety in the
website Mobile baycoins dot com. Ronan Anna, thank you for
coming in.
Speaker 3 (22:11):
You're welcome
This is News Radio seven to ten. Wntm's asked the
expert Uncle Henry here once again with Ron and Anna
of Mobile Bay Coins and Fine Jewelry. You'll find Mobile
Bay Coins and Fine Jewelry in beautiful Midtown Mobile at
twenty two to oh four Government Street. You'll also find
them online at Mobilebacoins dot com and there's always great
(00:27):
pictures on the Mobile Bay Coins and Fine Jewelry Facebook
and Instagram pages. Ron and Anna, I've been thinking about
you both just about every day since we last saw
each other. Because gold silver too. But gold, I mean,
it has been a top story in the economy over
the last several weeks well really, I don't know, six
weeks months now.
Speaker 2 (00:48):
Yeah, at least over six weeks. But silver is the
kind of the golden child right now. It ran up
so fast and so strong. Everybody was just getting the
silver bug. And of course, thank goodness today there was
a correct and silver is actually back under fifty and
gold's right around forty one twenty eight. So there it
was a pretty good sizable correction. But nothing, I mean
(01:09):
didn't crash. It's just a decent correction. And people were like,
I mean, what should I sell. I'm like, no, we
wanted it to have a correction because if it didn't correct,
then you're gonna have bad things.
Speaker 3 (01:17):
Anytime you have a stock, any type.
Speaker 2 (01:19):
Of investment vehicle keeps going up, and without corrections usually
it comes down really fast.
Speaker 1 (01:23):
So tell me, So, you were here two weeks ago
talking about gold was reaching new haunts. Two weeks ago
you just talked about it went down to forty one.
Speaker 3 (01:33):
Yes, I know out there, yeah, yeah, forty one.
Speaker 1 (01:38):
So so tell me how did your customers react to
all these moves with gold and silver.
Speaker 4 (01:45):
Some people were excited. Some people were frowning because they
didn't want you know, they were like, ah, shucks, I
should have bought it like two months ago, you know,
because it's been climbing. So it was good and bad
reaction on, you know, both sides depends on the story
and what was going on. But people that were obviously
selling things trying to take a profit, they were happy.
(02:06):
People that are trying to sell scrap are also happy.
People who are brought into states all happy to sell.
But of course people that wanted to invest into gold
and silver, they were hesitant. Didn't do it. Don't pull
the trigger and you know it is what it is.
Speaker 1 (02:21):
So in the last couple of weeks, have you had
more sellers or buyers in terms.
Speaker 4 (02:24):
Of gold, it's been about fifty to fifty really okay, yeah,
because people are I'll be selling a coin a gold
coin and turn around and then buying a gold coin, selling, buying, selling,
buying constantly.
Speaker 2 (02:36):
And we gauge it based on how much we have
to order from wholesalers. So if we're able to buy
enough from the public, then based on our sales, then
we're in good shape. If it's a shorter on the
sale or excuse me, on the buy in and big
on the sales and then we have to order wholesale.
We try to keep our inventory constant. We don't really
try to play the markets or anything else. We always
want to have a good inventory selection. And the only
way you can guarantee that is to make sure you
(02:57):
keep inventory that you know, stocked.
Speaker 1 (02:59):
Right.
Speaker 4 (03:00):
Speaking of that, we have customers that drive like an hour,
sometimes two hours just to come to our shop and
buy gold and silver. So there's those people that commute
for about you know, two hour trips to back and
forth or whatever it is, or four hour trips for
some people.
Speaker 3 (03:15):
Make sure you have stuff.
Speaker 1 (03:16):
Yeah, well, the world has been paying such close attention
to gold and what's happening with gold? Can you spend
a minute explaining what has going on with silver? Did did? What?
Did refinery stop taking silver? What happened?
Speaker 2 (03:30):
Yeah, the all around the country, everywhere, silver got so
high and it stayed over fifty for days, I mean
almost five days. So people decided to profit take that.
A lot of people and a lot of our customers
we tell them to pick a number. If you're hedging,
but you decided to sell your part of your hedge
and then sit on the cash or put it in
the stock market until silver has a correction, then you rebuy.
(03:51):
You build your supply that day trade, but you pick
a number and if it hits that, you sell it.
Then you rebuy when you're comfortable. So a lot of
people hit that number. We had lots and lots of
people coming in selling silver last week, but almost just
as many people, like Anna said, were making purchases. So
coming in the door then going out the door. And
we have to hold everything we buy from the public,
(04:11):
so we have to even have that further gauge we
have to wear. Okay, this time, what do we have
in hold, what do we buy today, and what's come out,
and what do we sell and we balance that every
day at the end of the day before we get
to go home.
Speaker 1 (04:22):
So the refineries paused buying silver because so many people
we were selling it.
Speaker 4 (04:26):
They were backclogged. Yeah, they've took in so much, you know,
bullying and scrap and the coins and things. So they
were actually a lot of not even refineries, but some
of our suppliers were also or.
Speaker 2 (04:39):
You took a pause and it was mainly on stuff
less less than nine nine nine, So everybody was still
trading all silver rounds and bars and stuff like that.
It was like sterling silver because you don't have a
lot of public coming in and say, hey, let me
look at your sterling silver pieces. So flatware and things
like that and junk sterling silver jewelry go to the
refiner and around the country that's stuff was coming in
(05:00):
and droves. As a matter of fact, when the day,
thank goodness, it was the day after they stopped the pause,
a lady came in with about a thirty thousand dollars
coffee and tea set with a giant tiffany platter. I
mean a lot of silver. I would have hated to
buy that. We pay strong and then find out you
have nowhere to go with it, absolutely nowhere to go
with it.
Speaker 4 (05:20):
On it for weeks and you know you couldn't shume it.
Speaker 2 (05:23):
It was so big it would have cost more to
ship than your profit would be in the items. So
stilling silver is backed up. And I mean the refinery
that we sell to and over in Florida, the gentleman
and the other guy that works there were tag team
and staying there twenty four hours a day because they
couldn't take any deliveries in Dallas, the main refinery that
was they had to pause nowhere. Yeah, they had nowhere
(05:44):
to put anything, so it was full. So until they
get all the stuff they purchased into the building and melted,
then they're going to start picking it up again.
Speaker 3 (05:51):
So it probably be three weeks, I think.
Speaker 1 (05:53):
Okay. So so the day that we're we're having this conversation,
you say there was a correction today, yes, twenty first, Okay,
So what do you think is going to happen? I
know you can't predict the future, but with a correction today,
are things gonna calm down a little? Bit.
Speaker 2 (06:10):
I think so, And uh, well, it depends on what
happens after hours and openings tomorrow. After hours it was
dropping a little bit, and then you know, we will
know tomorrow morning what happens. But I think it'll it'll
go back up because everything I read today was basically
that it was major profit taking. And then after that
there was some panic selling by people that had ETFs
(06:31):
electronically traded funds that said, oh, it's crashing, I'm selling.
And then of course that just adds to it. If
people would just sit back.
Speaker 3 (06:38):
And don't why book your loss?
Speaker 2 (06:40):
And I mean, and I'm not saying everybody that sold
while it was panic and someone booked their losses, but
a lot of them did. We talked to a few
people today that sold like I lost about you know,
they bought.
Speaker 3 (06:49):
Like two weeks ago.
Speaker 2 (06:50):
It's like, why would It's not crashing, it's profit taking
and a little bit of panic selling.
Speaker 3 (06:54):
And the things that drove silver to where it is
are not going away.
Speaker 2 (06:58):
The amount of silver that's used in manufacturing, manufacturing of
circuit boards for AI and stuff like that, that's growing,
it's not going away. And then the LCD screens you
go to target or Walmart, and these TVs are getting cheap,
but takes about an ounce and a half two ounces
of silver per fifty inch TV, and that's unrecoverable. In
the United States and China, they don't care about their environment,
(07:20):
so they let them do it there By the United States,
you can't refine that stuff, so a lot of it's
considered lost silver. They go into landfills and stuff like that.
It was helped driving the price of silver, along with
some major countries and banks recommending to their customers and
their investors that they add silver to their headge if
they're using gold, platinum and add make sure they add
(07:41):
some silver to it. So we had a lot of
newbies coming in the last two weeks and while it
was slammed, and you're doing your best to give them
a quick lesson, because nothing's worse than somebody coming in
in my mind anyway, and saying I want to buy
ten thousand dollars worth of silver in their new customers.
So you start talking to them and realizing they don't
know how to tell if something is real or fake,
and you just don't wanted to throw money down, so
(08:01):
you try to have a discussion with them and see
where they're going. If they're just trying to get in
on the investment or whatnot, then I mean, I'm not
an investment advisor, but I'll tell them what I will
do or would do, and then they could make their
own decision.
Speaker 1 (08:13):
You're listening to Ron and Anna with Mobile Bay Coins
and Fine Jewelry at twenty two oh four Government straight
in Midtown Mobile. So at this moment, do you have
good deals on gold and silver? Somebody wants to buy
gold and silver, do you have good deals?
Speaker 4 (08:26):
Not so much on gold. The cougarans are still going
to be your most less premium item. And then on silver,
we do have one hundred hounds bars kilobar deals right
now for like a dollar over, and there's a few
things here and there, some silver eagles. I think we're
all sold out of rounds, but in about.
Speaker 3 (08:46):
A week we're rounds. We're sold out the rounds we
had a deal on.
Speaker 4 (08:49):
True true sorry, yes, correction where the deals on silver
rounds are done, but until about what a week and
we'll get more silver rounds for special deals and things.
Speaker 3 (08:59):
There's new stuff that we do deals on almost every day.
Speaker 2 (09:01):
As a matter of fact, we have a customer walking
to say, a great guy that saw me unpacking a
bunch of stuff. He's like, this is already spent my
money with Annam, but I'll be back tomorrow. Can you
set me those aside? So and the stuff that doesn't
make it, will send an email blast out or put
it in the newsletter, or take pictures and text it
to customers that have that on their want list. So
we flip a lot of them out of items that way.
So make sure if you had items you're looking for
(09:23):
our deals, you're looking for contact and or I and
we'll add you to the list.
Speaker 1 (09:26):
Okay, Now you can sign up for that newsletter, sign
up for any email blast that happens by going to
Mobile baycoins dot com. Go to mobile bay coins dot
com and sign up for that. You can also call
mobile bay Coins and find jewelry at two five one
seven two five fifteen ninety. That's two five one seven
two five fifteen ninety. So people still buying Christmas rounds
(09:49):
with all of this stuff going on, people still want
those Christmas rounds.
Speaker 3 (09:53):
You bet had.
Speaker 2 (09:54):
We're actually cheaper right now than the wholesale that we
buy them from.
Speaker 4 (09:58):
Because the retailer Taylor we're a few bucks cheaper y
at because I always try to give the customers the
best deal for their bucks. So like I always try
to if we can make a break and still like
give them a break and still make money, I'm happy
to do it.
Speaker 2 (10:11):
And we bought these wood back in June. Solver was
let less, so we passed.
Speaker 4 (10:16):
But our recovery costs is going to be more.
Speaker 2 (10:18):
Yeah, the replacement cost goes up. So around Christmas, get
them now. That's what I'm talking about. I headed on
my notes here to talk about if you're looking for
Christmas rounds, get get in there now, and Anna's going
to do another Christmas. They're going to go up because,
like we just said, their wholesale price is more higher
than what we're selling them for. So if you want
to get them cheaper, get them before we run out.
(10:39):
And we still have quite a few in stocks, so
come by the shop.
Speaker 1 (10:42):
Okay, what other deals do you want to talk about?
Speaker 4 (10:46):
Jewelry, We just got in some coin bezels and some
strolling silver chains that we normally keep in stock, So
if you're looking for coin bezzle, you can call a
store to find out if we have what you're looking for.
And because we were out for a while for some bezzels,
and then we have deals on you know, gold, jewelry, silver, platinum,
(11:08):
different rings. I've had customers today it's asking about layaway,
so we are doing layaways and it's a third of
the price if you wanted to put money down, yeah,
so dow way you can get paid off by Christmas.
Speaker 2 (11:21):
And we also have deals on silver proof sets. We
bought a large lot of silver proof sets and basically
you buy it like normal silver, so that is a
really great deal, like buying it like junk silver. But
their proof sets have all the boxes and paperwork and
you get the proof coins almost at face value, so
you're getting a nice deal on proof sets, make great
Christmas gifts and a large variety of those babies available,
(11:42):
so all new stuff all the time. But that deal
came out today. That was one of the things I
told you. The customer set put for aside it for me.
But I got about one hundred of them, so I
have a few, so get them while they're they're there
and the silver is still hot and prices came down,
so get it while it's a little cheaper.
Speaker 1 (11:57):
What about investment grade collectibook coins run.
Speaker 3 (11:59):
Got some great stuff.
Speaker 2 (12:00):
I got a new five dollars gold delana in so
it's a fan of Delanaga Jarjia gold.
Speaker 4 (12:06):
Somebody had called us several times about that the last
couple of weeks, and I think they've been waiting for
that coin.
Speaker 3 (12:10):
Yeah, did you push that on Facebook? No, I haven't.
I haven't taken it. We've I'm like, this is not
an excuse.
Speaker 2 (12:15):
We've been so busy that there has not been time
to do a lot of the extracurricular stuff like go
to the bathroom.
Speaker 4 (12:21):
Yeah. Yeah, I was just about to mention. I was like,
I think I there was a day during the week,
one of the days we're so busy, I got to
use the bathroom like once, and that was right at
the end of the day. So I've been holding it
the whole day because I was like, I couldn't walk away.
Speaker 2 (12:33):
Yeah, now lunch is right now, so I just need
to breakfast and go. I mean, it's like, and we
appreciate it.
Speaker 3 (12:38):
We're not whining, but we're winding.
Speaker 1 (12:39):
Well it is. It is a history. It's a historic
time in your industry. Yes, I mean I've been talking
to Mobile Bay Coins and find jewelry for years and
this has not happened. No, this is this is something
that is not normal.
Speaker 3 (12:53):
No.
Speaker 1 (12:53):
I can remember talking to you and Angelo for years
about silver and wondering would it ever go up as
Hines people thought it should. Yes, finally it happened. It
makes a move.
Speaker 2 (13:05):
Yeah, yeah, in years years, I mean so, yeah, it's
performing very well. I mean it's silver and gold of
all performed a lot of stock market indexes in the
last year. I am not advocating cell your stocks and
buy gold and silver at all. People, I'm talking use
it as a hedge and by cost average as you go.
Just be smart and if you haven't done it before,
you don't know what cost averaging is or you don't
(13:27):
have a plan. Although I'm not an investment advisor, I
can share with you what I do and Nancy does
and we've been successful at it for many years.
Speaker 4 (13:33):
Well. See, the average person, in my opinion is my
opinion solely, So don't go judging other people or anything,
but an average person that has no idea what you
know golden silver is all about. They don't know what
it actually means to like invest or protect their dollar
or a hedge of their dollar. It's just like with
anything else, there's inflation, so your dollar gets weaker, so
(13:57):
you actually can buy. You have less buying power for
your dollar, is what's happening. And with going silver, you
have an opportunity to basically lock it into. As silver
and gold grows, your money's gonna grow because you're gonna
get more moneys out of it. So you're now losing
because some people will stash up cash for years, you know, decades,
and it's actually worth less you can buy. You have
(14:18):
less buying power with that money. As I can't say
it's worthless, but you have less buying power because prices
have went up on things.
Speaker 1 (14:26):
That's why so many of us are angry. Yeah, we've
saved we've saved our money all these years, not our
gold and silver, but we've saved our money and we
can't we can't buy as much with it.
Speaker 4 (14:37):
I know we were. You know, I had a customer
that we were talking like groceries, Like used to be
able to go to like Walmart or gas station or
whatever it was, and you could buy so much for
one hundred dollars. You walk out with bags of stuff.
Now you walk out with like you're lucky to walk
out with one bag. Yeah, you're lucky to walk out
with one bag. And somebody had mentioned something to me
today too about gold silver and prices going out up.
(15:00):
They were hoping that silver was gonna hit like, I
don't know, like seventy five dollars an dolls.
Speaker 3 (15:04):
Or no, no, no, not within a couple of weeks.
I'm like, I said, there one hundred.
Speaker 4 (15:09):
Dollars or something. I'm like, I'd be scared because that
means our eggs and prices of milk and bread are.
Speaker 1 (15:15):
It would be like, what horrible thing has happened in
the world.
Speaker 3 (15:18):
Yes, yes, it would probably be.
Speaker 2 (15:21):
The US dollar be one of the only things that
could really make that happen really fast, So that would
be super scary. Nobody wants to see that, So don't
wish for that. Nothing wrong with wishing that your hedge
performs well a little bit, just for good luck. But
a hedge, to me, golden silver is meant is a
hedge against losing your value and your dollar or your
stock portfolio and a recession. It kind of keeps your
(15:42):
things bound in a nice type triad investment pattern.
Speaker 1 (15:46):
So so with all of this going on, you just
talked about your being so busy you have to deny
yourself bathroom breaks and food. Do you still have time
to do a free appraisal? If somebody wants their items
appraised and they're not even thinking of selling, can you
we'll do the free appraisal.
Speaker 4 (16:01):
Yeah, we do that all the time. We had several
come in today. Yeah, but it's like a shoe box
worth or so, something that we can go through in
fifteen to thirty minutes on average is free. Anything that's
going to take us longer or something that you can
always drop stuff off and if you're not not in
a hurry, we can go through it and not charge anything.
For a bigger collection, as long as we have a
(16:22):
place to store it, that's the main Give.
Speaker 2 (16:24):
Us a call two ninety and an or I can
discuss it with you. Because Eric had to today. That
took over an hour and a half and no problem.
We don't mind that.
Speaker 3 (16:32):
But when it's busy, it takes up a counter.
Speaker 2 (16:34):
So then we got to kind of shift how we
work and we'd much rather have those plans so we
can get them in at the right time and make
sure we have people allocated to do that appraisal.
Speaker 4 (16:42):
Make an appointment on our website. Yeah, within like twenty
four hours you coming in, so I can kind of
plan our days ahead of time.
Speaker 3 (16:49):
Is there just a link on the website to do that?
Speaker 4 (16:51):
They can just click on the appraisals. There should be
a little button says appraisals, click on it and you
can just register from there.
Speaker 1 (16:57):
Again, that's at mobile bay coins dot com. So what
about the people can get their stuff appriced for insurance purposes, Yes, sir,
they can use your appraisals with insurance companies. Should people
be doing that with the prices doing what they've been doing.
Speaker 2 (17:14):
Yes, because you got to make sure. Some insurance companies
have a cap, but most of them are replacement at
current stock price levels and the spot prices on the
stock market stock market, so if you have a bunch
of silver or gold that you bought it ten years ago,
the prices were less, So you've got to make sure
you annually update and notify your insurance company because if
something happens, they may or may not have a current
(17:36):
level as far as what your replacement value is. So
you need to discuss that with your insurance broker and
get the right plan. Because as prices go up, you
want to make sure you're covered. If I bought a
bunch of silver. You know, back when Angelo and I
used to buy silver together at thirteen to eighteen dollars
an ounce and then today lost, that's triple the value.
But you're going to get what you paid back in
the day, So make sure you keep those portfolios updated.
Speaker 1 (17:58):
Okay, and again that numbers too. I have won seventy
two five fifteen ninety to call Mobile Bay Coins and
find jewelry about that appraisal or with any other question.
So are you so do you have people coming in
wanting to buy gold but they don't want to buy
a full ounce? Is that happening now? Are people wanting
to get in that bad where they buy they're buying
(18:19):
the stuff that's even less than an ounce?
Speaker 4 (18:20):
Yeah, yeah they are. And again it's one of those
things that it's great to have in your collection a
few pieces. But I wouldn't recommend putting all of your
money into fractionals because you end up with a higher premium. Now,
if you're planning to do it over time or pass
it down to your grandchildren or something, then go for it.
Speaker 1 (18:38):
Okay.
Speaker 4 (18:39):
Prices did go up on a lot of fractionals because
that's one of the hot sellers when this kind of
thing's happened. So fractionals run out first, I feel like
because the people are trying to you know, some people
don't have thousands of dollars to put in the goal,
so they'll spend a few hundred bucks or something like
that and they'll buy some fractionals.
Speaker 1 (18:56):
And so you're telling me that the fractionals have a
higher premium because there's popular.
Speaker 4 (19:01):
Well part of the reason. Yeah, so prices went up
because goal went out, but also people running out of
stock on fractionals, so prices premiums went up on that too.
Speaker 2 (19:09):
But we do get deals in those. As a matter
of fact, we're gonna put a it'll be this week.
We'll put a picture of it in Facebook. It's not
a lot of them, but it's ten quarter rouns special
issue Canadian maple leafs, so one quarter ounce and they're
sealing in the original plastic from Canada.
Speaker 4 (19:22):
And then we have the two and a half ounce
I think it's not two and a half ounces. Two
point two point five grams of goal bars that came.
Speaker 2 (19:30):
In a bunch of those, So if I mean somebody
can get deals on those, and we will put put
pictures online tomorrow on the website and on the email
blast and everything else. So if you're if you're looking
to get into it and you haven't ever done it before,
make sure you come by the shop and talk to
Anna or I and will kind of give you a
free little lesson, share some of the knowledge we've acquired
over the years, and make some recommendations.
Speaker 4 (19:51):
It requires math. So people just did like panic and
I have to get out of diagram. Basically, I'm not
a great in a math. I do basic math, but
if you ask me to calculate something like some algebra
or something trumanountry, I'll just be like no.
Speaker 2 (20:07):
But just don't scare anybody if we're not. This does
not involve trigonometry.
Speaker 4 (20:11):
It's basic math skills.
Speaker 1 (20:13):
Yes, well, And I have a feeling that you say
you're not good at it. I bet you do quite
well in the type of math you need in your industry.
Speaker 2 (20:20):
She has the fewest errors in the shop on tickets.
Speaker 1 (20:24):
Oh, I'm not good at math, and she has the
fewest errors in the shop on tickets.
Speaker 2 (20:28):
And when I I'm real pretty good, especially on basic math.
But when I have a problem to suck her in
and she figures it outright, I'm.
Speaker 4 (20:34):
Like dyslexic when it comes to numbers, you can ask
can switch them around. Yeah, so I'm really careful and
cautious when it comes to numbers. You can.
Speaker 2 (20:46):
I've only caught her maybe once or twice and yeah,
and the whole time I've known her with something backwards
on a ticket, it's because she double checks herself. Now
I've seen tickets. She corrected herself, but they're right. That's
the whole idea.
Speaker 3 (20:57):
If you make a mistake, you fix it initially in
move on. So she's very very.
Speaker 4 (21:02):
I don't mess around when it comes to numbers.
Speaker 1 (21:04):
Okay, well we've got about a minute left here, just
about out of time. Anything else you want to throw
out there before we're out of time, well, come by
the shop.
Speaker 4 (21:11):
Right, Yeah, this is the perfect opportunity to basically get
the best top dollar for your scrap goal, because I
had several ladies come in today with like scrap jewelry
stuff where they had gold hoop earrings when one was missing,
one was dented, something got stepped in, ran over. Whatever
it is. If you think you can't get anything for it.
Bring it by the shop first, because some people don't
(21:32):
even know if they have gold or silver they may have,
they think it's just costume or jump. Before you throw
anything away, come by the shop and let's check it.
Speaker 2 (21:41):
Out and shop it around, and make sure you give
us an opportunity to make your offer on your scrap
because we pay strong, we need it. We added some
new rings for the Christmas season today, so it doesn't
have to be junk. It could be something you just
decide you don't like anymore and you don't wear. Bring
it by and let ann and make you an offer
on it.
Speaker 1 (21:58):
Very good. That's Mobile bay Coins find Jewelry twenty two
oh four Government Street and Midtown Mobile their telephone number
two five one seventy two five fifteen ninety in the
website Mobile baycoins dot com. Ronan Anna, thank you for
coming in.
Speaker 3 (22:11):
You're welcome
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CrimeLess: Hillbilly Heist
It’s 1996 in rural North Carolina, and an oddball crew makes history when they pull off America’s third largest cash heist. But it’s all downhill from there. Join host Johnny Knoxville as he unspools a wild and woolly tale about a group of regular ‘ol folks who risked it all for a chance at a better life. CrimeLess: Hillbilly Heist answers the question: what would you do with 17.3 million dollars? The answer includes diamond rings, mansions, velvet Elvis paintings, plus a run for the border, murder-for-hire-plots, and FBI busts.