Pawning silver

[Roy]

 

On one of my p2p sites, someone has pawned 9400 ounces of silver @ 70% LTV and raised £78,000.

Now, there's a thought.

Hmm, calculator says no. But my mind is working overtime.

[HelpingHands]

Unless the pms are Numis and you want those actually pms back then won't selling and buying back be better?

[Roy]

Sure, It's not something I recommend.

There have been some chaps on here who, when faced with a crisis, have had to offload their silver quickly and usually a quick sale entails a loss. Multiple packages.

This way you can raise some cash quickly and hopefully be able to buy your silver back in a few months. The interest rate was 0.8% monthly I think.

Anyway, I don't need to tell you how pawning works ?

Just raising a topic not suggesting anyone gets involved. ?

[jc1989]

I really really dislike the pawn brokers on U.K. High streets.

They sell full sovs in the window for circa £350 so I wondered how much they would buy some of mine for......

They would generously offer me circa £120 a sovereign depending on condition 

 

[Norskgeld]

Yup, I was in Reading this week and a pawnbroker had sovs for £310 and a gold maple for £1200...ouch!!!

[Kman]

Must of had some life crisis if he needed to raise £78,000 quickly 

Edit> I suppose he could have had an amazing opportunity to purchase or invest in something, I guess my glass is half empty lol. 

[Roy]

Yep..but how is that for liquidity?

Again, PMs prove to be an ideal choice