For what it's worth

[JayDubya]

For what it's worth, I just got back (last weekend) from a vacation in Maui. When I go on vacation I completely unplug. I check out from all the craziness of work and investments etc. Imagine my surprise when by chance, I found myself in the right place at the right time to overhear a conversation pertaining to metals.

While I was there I spent an afternoon in the town of Makawao. Makawao is a very small community and there is a section where the streets are lined with little shops full of items made by local artists and artisans.

In one woman's shop there is a section that includes jewelry she makes by hand. While in her shop, I overheard a conversation she was having with one of the locals. The owner, sounding very upset and discouraged, was saying how much more difficult it was for her to obtain gold. She said that the larger buyers are buying ever increasing percentages of what's available and the smaller buyers (small shop owners and such) end up having to fight over the scraps. She said the larger buyers have been consistently squeezing out (her words, not mine) the smaller competition. She lamented that she might not be able to continue making jewelry because she either couldnt obtain gold or had to pay a much higher price to obtain it than many of her competitors.

As I drove on down to Paia I was kicking myself for not attempting to join in the conversation. I was curious as to whether she had considered maybe, just maybe, the plain folk, the unwashed masses, the slobs, the sheeple, as some like to call them, had finally gotten it through their heads and started buying, or whether this is simple, straightforward, supply & demand forces at play from those already in the buying chain?

Any thoughts from the crowd?

[Gcubed]

She is likely buying "scrap" off the street, at a BIG discount. She would have no problem sourcing new grain, sheet, wire etc. from regular sources.

[shamrocks33]

When I was in Hawaii this past December, I was shocked at the number of "we buy gold commercials" on the Teevee...Way more than even here in LA.

[sandro]

For what it's worth, I just got back (last weekend) from a vacation in Maui. When I go on vacation I completely unplug. I check out from all the craziness of work and investments etc. Imagine my surprise when by chance, I found myself in the right place at the right time to overhear a conversation pertaining to metals.

While I was there I spent an afternoon in the town of Makawao. Makawao is a very small community and there is a section where the streets are lined with little shops full of items made by local artists and artisans.

In one woman's shop there is a section that includes jewelry she makes by hand. While in her shop, I overheard a conversation she was having with one of the locals. The owner, sounding very upset and discouraged, was saying how much more difficult it was for her to obtain gold. She said that the larger buyers are buying ever increasing percentages of what's available and the smaller buyers (small shop owners and such) end up having to fight over the scraps. She said the larger buyers have been consistently squeezing out (her words, not mine) the smaller competition. She lamented that she might not be able to continue making jewelry because she either couldnt obtain gold or had to pay a much higher price to obtain it than many of her competitors.

As I drove on down to Paia I was kicking myself for not attempting to join in the conversation. I was curious as to whether she had considered maybe, just maybe, the plain folk, the unwashed masses, the slobs, the sheeple, as some like to call them, had finally gotten it through their heads and started buying, or whether this is simple, straightforward, supply & demand forces at play from those already in the buying chain?

Any thoughts from the crowd?

Hehe, we may have been there at the same time, as I was in Paia on the 6/29 The one sorta coin shop there (antiques et al) was selling everything at absurd prices, $25-27 per $1 FV, so I would not be surprised if the PM prices in Maui are larger that on the mainland (like everything else there ...) I looked also at the prices in Lahaiiana and they were high as well, even higher that in Paia; I thought my local LCS were bad, but the sell prices in Maui were even higher, while the buy was about the same as in SoCal - the spread was just brutal, $6-$8 per $1 FV, or almost 25-30%

[andial]

Any thoughts from the crowd?

Sounds to me that she doesn't want to pay up for the metal. She can always invest in a metal detector and start searching. Gold is easy to find, Silver not so much, from what I read. JMHO

[~BS]

small town, isolated. not really representative of anything. Did you get a chance to look at the gas prices? Everything costs more in maui.l

[GoldToHold]

one of the most isolated land masses in the world out in the middle of the Pacific ocean and you think anything's going to be cheap here? gas on Oahu yesterday was $4.22 for middle grade. thank you for visiting Hawaii

[~BS]

utility and electricity rates are probably 3x or 4x the national average too. nice place to visit, put you in the poor house to live.

[JayDubya]

Hehe, we may have been there at the same time, as I was in Paia on the 6/29 The one sorta coin shop there (antiques et al) was selling everything at absurd prices, $25-27 per $1 FV, so I would not be surprised if the PM prices in Maui are larger that on the mainland (like everything else there ...) I looked also at the prices in Lahaiiana and they were high as well, even higher that in Paia; I thought my local LCS were bad, but the sell prices in Maui were even higher, while the buy was about the same as in SoCal - the spread was just brutal, $6-$8 per $1 FV, or almost 25-30%

Yup, we were there at the same time, I stayed in Kaanapali, just north of Lahaina. You're rght I was in that shop in Paia and in several along Front Street in Lahaina and the prices were absurd.

[SongSungAU]

small town, isolated. not really representative of anything. Did you get a chance to look at the gas prices? Everything costs more in maui.l

Gas prices in Hawaii must have changed since I was there. When I was in Hawaii, gas was $.53 a gallon, the same price I paid at my Shell station in Texas. I was flabbergasted that it could be the same price on an island where it had to be shipped in as it was in Texas which is known for oil.

Stop laughing.... yes, it's been years since I was in Hawaii. What's your point?

[sandro]

Yup, we were there at the same time, I stayed in Kaanapali, just north of Lahaina. You're rght I was in that shop in Paia and in several along Front Street in Lahaina and the prices were absurd.

No way !!! Where in Kaanapali ? We were at the Aston Shore Resort there and going all over the north west of the island, Lahaiina, Kaanapali, Napili, etc... WE MUST have passed by each other a number of times

[JayDubya]

Well then, we were very close to each other because I stayed in the Weston Villas. Odds are pretty good that we passed each other on highway 30 a number of times as I was all over that same area from Lahaina up to Napili several times.

Snorkeled all over the areas around Kapalua, Honolua Bay, Fleming Beach, etc. A couple from Australia turned me onto a place down Honoapiilani road (off 30) towards Napili where we swam with dozens and dozens of honu, so close that, if you wanted to, you could reach out and touch them.

Here I am hi-jacking my own thread. Did you happen to eat at The Gazebo in Napili Shores for breakfast?