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ment — one of the business hats i wore in the past here in kw

Posted by WANKA @ 18:08 on August 23, 2014  

was a coin store partner with a good friend who was an expert in treasure coin assaying. in 1998 we seen some writing on the wall pre-y2k and brought in a-mark as a contract supplier for bullion sales of which we were expanding to since the 22 year bear market was it seemed coming to a close. in 99 with y2k a non event and after beginning to buy as a bullion broker for not only our own ‘inventory’ but for family and friends and of course customers off the street looking at sub 300 as bargain basement then seeing the double bottom in 2001 we were very happy in our dealings with a-mark. that being said and laying this foundation we retired the coin shop in 2008. the shop had 18 display cases 8 double deck glass cases each side of the wall lengths of the shop each 6′ in length and 2 octigon cases in the center floor area at each end approx 1/4 distance from the end of the rectangluar display cases along the wall length with a sales person in the wall side of display and customer on the floor side of course. and one small rotator case just to the right of the front door too. there was a sitting area beyond the displays and on the far back wall two 7′ tall stand up safes for tray storage when the shop was closed at night etc. beyond the wall of safes a doorway led to a small workbench area and bathroom with a office off to another small room and a 5×5 old bank safe in there for special storage. that gives you a good discription of the business.
once we retired the coin shop as i said in 2008 i chose tulving for our and anyones dealer of choice so our gold group if you will started doing business with tulving and it was good business dealings right on up to 2012 when a few orders took way too long for delivery but thier lament was they were swamped bla bla bla and so sorry. into early 2013 a couple of orders again took too long and i came to the conclusion after talking to thier office manager [tulving was never available] that thier excuses became bullshit since i was a seasoned dealer and knew better. my speculation was that tulving from 2011 peak started screwing up his hedge book and it got away from him and he was feeding off the new orders and greasing the squeekest wheel…a sure sign of impending bankrupcy. the final order which was 6 weeks in the making and me raising holy hell on behalf of a friend once delivered it was exit stage left for our group of 17 and that was around april or may of 2013. i then did some research and found a fine dealer called texas metals i’ll give 5 stars to and there has been not one iota of a problem with 3 day delivery to anyone in our group on any order to this day. they know how to run a hedge book i’m sure. last but not least tulving did in march 2014 what i expected and declared bankrupcy since now there were i’m sure way too many squeeky wheels and they took over the mail room and depleted any and all resources.
this is one of the reasons i follow the tulving fiasco to see out of curiosity just what shakes out in the final analysis. did tulving ‘salt’ it away? its anyones guess but till the final accounting of phyzz and cash is done i’ll give him the benefit of the doubt and say he really f…ed up his hedge book royally and tried like hell to recover but went deeper into the rabbit hole until the bottom and bankrupcy. but ment time will tell. best of cheers and remember i toon1e    :mrgreen:

wj

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.