Tampa Bay Coin Shop Owner Talks Reality of Silver & Gold Market | Supply Outweighs Demand?

Tampa Bay Coin Shop Owner Talks Reality of Silver & Gold Market | Supply Outweighs Demand? #Trending
Serving central Florida for over 8 years, Vermillion Enterprises is Spring Hill, Florida's premier coin shop and gold dealer. Always buying and always selling coins and precious metals like silver, gold, platinum, palladium, and rhodium.
Give Vermillion Enterprises a call at:
[phone]
Visit our Spring Hill coin shop, located at:
5324 Spring Hill Drive
Spring Hill, Florida 34606
Monday - Friday: 9AM - 4PM EST
Saturday: 9AM - 2PM EST
Sunday: Closed
To learn more about Vermillion Enterprises visit our website at:
vermillion-ent...
Shop our new online coin shop at:
springhillcoin...
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[@vermillionenterprises]

What say you?

[@buyystocks]

we over the $30 wall?

[@joshuarhoades2740]

Do you a video on a gold IRA?

[@vermillionenterprises]

@@joshuarhoades2740 we don't do IRAs

[@jbgant8513]

After decades online and also in public I've never seen a man as knowledgeable and honest as Brian. These videos are really valuable for everyone watching.

[@vermillionenterprises]

Thank you, we appreciate it.

[@estevan9985]

Yes, true.

[@frankabler]

Brian is the man! And Tim too! He's also the man!

[@frankabler]

Silver is $32.89/oz. on the Shanghai market right now.

[@joshmiller2725]

That’s because they include the bs tax the Chinese government charges on silver in the spot price.

[@kaceydillin7367]

Just woke up to $30.70 silver $2411 gold. Kinda been a wild ride since October when spot silver was below $22 an ounce.

[@Dr._Klopek]

Very cool to see the dealer’s side of the business. Seems dealers can get in trouble if the price soars or plummets

[@vermillionenterprises]

Exactly!

[@markamberg8362]

So if demand spikes dealers won't have that much supply because risk is much higher now? Makes sense. The weak hands have been folding so the retail market might might turn around after people digest this new normal.

[@jasonandjulim4163]

I bet today and tomorrow are going to be busier than usual in your shop. $30+ silver is going to make a lot of people real stupid. Check your parking lot for junk silver after you close shop this afternoon, I bet you find enough for beer money.

[@dustindavid5094]

Nice video thanks Brian and Tim

[@scotth388]

When you buy scrap jewelry, are you also paying for any attached precious stones, or do those just go back to the customer?

[@vermillionenterprises]

We are only interested in the gold.

[@frankabler]

$40 for an ASE at APMEX right now.

[@vermillionenterprises]

Wow!

[@INTERNETVID]

I'll keep monitoring silver until Jamie decides to click the "

[@vermillionenterprises]

#facts

[@cointenderrarities933]

If the bullion market continues to rise or hold at current prices and the FED lowers interest rates in September. Bullion will soar to next level highs!

[@BudgieBob]

Yesterday you mentioned that your interview with silver seeker would be posted at 4:57pm. I checked his channel and it’s still not showing. Do you know when it will be posted? Love your content! Thank you!

[@vermillionenterprises]

That must've been an old video you watched. We haven't done anything with Silver Seeker in months.

[@BudgieBob]

Oops! Oh well. Hopefully you can do another one with him in the near future!

[@mysterybuyer3738]

I believe the world is running out of above ground silver. I am going to look into making an order for some more. I want it all.

[@vermillionenterprises]

If you want, we got it.

[@frankabler]

@@vermillionenterprises All the silver is sitting in Brian's safe! (for safe keeping)

[@jackw5533]

Love to hear the stories.

[@vermillionenterprises]

Thank you for watching.

[@Johnsmith46392]

Foreign gold yesterday was fire!🔥

[@vermillionenterprises]

In a way, yes.

[@gregweston277]

Thanks for the info!!

[@vermillionenterprises]

Thank you for watching.

[@rickbloodworth7068]

I was curious when the last time, if ever, you sent 90% U.S. coins to the refinery for melting.

[@vermillionenterprises]

3000FV today

[@rickbloodworth7068]

@@vermillionenterprises Wow, I didn't know the coin melt had already started up again. Thanks for the excellent information on all your videos!

[@vermillionenterprises]

Currently the fastest pay

[@ultrahighreliefcoinrollhun9623]

​@@vermillionenterprises curios#2. How much of 40% ikes do you send to the melting pot(refiners)

[@frankabler]

The dam just busted open on the precious metals market. I think we have passed the Rubicon!

[@rolandocastaneda4429]

Do you send to the refinery or the refiners melt any pre-33 gold???

[@vermillionenterprises]

Yes

[@Slim1962]

Tim I see you buy junk scrap gold. Do you sell junk scrap gold also?

[@vermillionenterprises]

We do not sell scrap gold.

[@nowweride3094]

I haven't read every comment, but will Brain ever sell 90% to the smelters?

[@vermillionenterprises]

3000FV today

[@moriorinvictus]

Told you we'd hit $30 Ag 😁

[@vermillionenterprises]

Will it hold?

[@jamesdoe3713]

@@vermillionenterprises my stack says I hope so, but my wallet says I hope not 😁

[@925inder2]

Scrap gold was mentioned you pay 90%. How much are you paying for scrap sterling silver? also is it the same number for 800 or 50/40 %?

[@vermillionenterprises]

we pay 90% of value on scrap sterling silver flatware/tea sets/platters/rounds....we do not purchase silver jewelry anymore

[@925inder2]

​@vermillionenterprises Thanks. Good to know. I assume because silver jewelry is more labour intensive? How much spot do you pay on 40% Kennedies?

[@vermillionenterprises]

@@925inder2 no because the purity of the jewelry is questionable at best to much fake crap coming out of Asia now, spot - $2 per ozt on 40%

[@langjr0]

You said Canadian Mint melts back dated gold maples to make new date maples, would that apply to silver maples; and would a US Mint melt back dated ASE’s to make new ASE’s? I was surprised to learn that about the gold maples.

[@ddprepper5227]

Omg silver rocket 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀😊🎉❤

[@goldensilver793]

Selling my stack is a frightening thought. I do use it as a savings account because of inflation...Silver to $35 next cycling between $32 and $38. All th😢is on inflation alone. Current increase is due to inflation...using dollar devaluation gold is .85 cents...for silver dollar devaluation it's at 2.1 cent... ($20.67/$2400(spot)= dollar devaluation in terms of gold)... This means silver should be 2.1 times the value it is now to be on par with gold...if gold goes to $3000, GSR at 100 puts silver at $30...GSR of 80 puts silver at $37.50...in the last few months the dollar has devalued from 1 cent to .85 cents...a nice hedge against inflation...at a trillion dollars of debt every 100 days it will continue to act as a hedge...

[@BillGuyHawaii]

Thank you for taking the time for "shop talk". Industry insights are helpful and very interesting. TCB and take some time for your self. Aloha Nui

[@vermillionenterprises]

Thank you for watching.

[@a_lol_cat]

It’ll be interesting to see if 2400/30 holds into the weekend or does a retrace happen at end of day. Taxes and insurance….rabble rabble rabble

[@vermillionenterprises]

Tim here: I think everyone is thinking the same thing.

[@kevink6420]

Just in the last day, at least where I trade, the buying activity has picked up significantly. The market jump has people spooked they won't see $2400/$30 again. But before that it was a lot of selling, and few buyers.

[@sonnyl5903]

Hey guys : watch you a lot and have been in your shop. My question is "Since 999.9 gold is the same everywhere , what's wrong with foreign gold ? Isn't it worth as much as American gold ?

[@MrBlue-dm5li]

It is, just not in Murica😂

[@holdfastjoe8841]

taxes, so no

[@vermillionenterprises]

Sounds like you missed this video: kzbin.info/www/bejne/jKfCknypn8SJa68

[@WaynePratt-b6h]

Did I miss it? What price are you paying for 1oz foreign soverign silver coins????

[@808bAler]

Awesome insights. Thanks for sharing!

[@Abraham.Lincoln22]

Tampa Bay??? I thought you guys were in Spring Hill?

[@chiaking2787]

Thanks for sharing

[@vermillionenterprises]

Thank you for watching.

[@CentennialSilver]

More like a Ferris wheel Tim. Lol

[@vermillionenterprises]

Tim Ferriss?

[@leftseat6491]

Love his transparency.

[@vermillionenterprises]

Thank you for watching.

[@RudyHermes]

Good job thank you

[@vermillionenterprises]

Thank you for watching.

[@fernandojimenez5700]

You guys are great. You are a must listen too. Thank you.

[@vermillionenterprises]

Thank you for watching and the kind words, we greatly appreciate it.

[@loop1800mickey]

Wonderful exploration on the circle of gold and silver THANK YOU

[@vermillionenterprises]

@@loop1800mickey Thank you for watching.

[@jamesitsines6890]

You mentioned ASE premiums rising and wholesellers 2 months out. Costco bought a huge allotment of 2024 ASEs from a authorized mint seller

[@vermillionenterprises]

Interesting.

[@frankabler]

Also, Costco can't seem to keep enough PMs in stock to meet demand. Every time I check my local store they're out. Similar reports from others around the USA.

[@gotime7648]

Next stop for silver $50. Then 🚀🚀

[@jerrywalden7131]

thanks again.....

[@vermillionenterprises]

Thank you for watching.

[@Bman8989]

Sending old foreign gold coins to a refiner 😢

[@campbell1654]

Kitco has it at 31.84

[@Johnsmith46392]

Silver is going crazy! 😮

[@MarkJolly-n3d]

It’s great to listen to you with the knowledge of your products and how far are you from Panamal City?

[@72cmcinc]

Makes sense! Have a great weekend! Enjoy the coffee!

[@Ashaman556]

Tim, e4 or d4?

[@vermillionenterprises]

Depends... I usually like 1.g4, but I'll play 1.e4 sometimes