- Sep 6, 2000
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For those who don't know, i work in the brokerage business. Just got a call from a client looking to buy gold. Nothing odd about that, since it's up to about $370/oz. now. So i ask him what he was wanting to buy, some Anglogold stock? Newmont Mining? Barrick Gold? Nope he says, he wants to buy actual metal.
Okay, not a problem i say. Our branches have gold coinage available, take your pick from the American Eagle, Canadian Maple Leaf, even Kruggerands via special order if you're feeling nostalgic. Nope he says, that's not going to do. He'd have to buy too many coins, he was looking to buy bullion.
All righty then. I can do that, kinda unusual but the bank has a vault in NYC for storage and we can arrange for your purchase. Let me get them on the phone for you, oh, and just so i can let them know so they can get some quote estimates for you, how many troy ounces are you looking for?
"I'm looking for a full metric ton."
I'm sorry Sir, i'm not sure i heard you quite right. Did i just hear you say a metric ton? Of gold? The yellow stuff? I just wanted to make sure you didn't say soybeans and i heard gold.
The guy just laughed and said yes. I took a look at his account, and sure enough he can sure as hell afford it (he could afford another ton or two with just his cash and cash equivalents balance, and full half dozen if he liquidated his securities). But why? What on earth is a guy going to do with a freakin' pallet full of gold bars?
Okay, not a problem i say. Our branches have gold coinage available, take your pick from the American Eagle, Canadian Maple Leaf, even Kruggerands via special order if you're feeling nostalgic. Nope he says, that's not going to do. He'd have to buy too many coins, he was looking to buy bullion.
All righty then. I can do that, kinda unusual but the bank has a vault in NYC for storage and we can arrange for your purchase. Let me get them on the phone for you, oh, and just so i can let them know so they can get some quote estimates for you, how many troy ounces are you looking for?
"I'm looking for a full metric ton."
I'm sorry Sir, i'm not sure i heard you quite right. Did i just hear you say a metric ton? Of gold? The yellow stuff? I just wanted to make sure you didn't say soybeans and i heard gold.
The guy just laughed and said yes. I took a look at his account, and sure enough he can sure as hell afford it (he could afford another ton or two with just his cash and cash equivalents balance, and full half dozen if he liquidated his securities). But why? What on earth is a guy going to do with a freakin' pallet full of gold bars?