Burlington Coin Dealers See Surge in Activity Amid High Gold and Silver Prices

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Coin dealers in Burlington, Iowa have reported a spike in customer activity due to the high prices of gold and silver. Midwest Coin and Laws Antiques and Jewelry say the process of selling precious metals has become more complicated, with smelters facing backlogs and changing their payment policies to customers.

Why it matters

The surge in precious metal prices has created both opportunities and challenges for local coin dealers. While high demand is driving increased business, delays and policy changes from smelters are complicating the sales process for dealers and their customers.

The details

Midwest Coin on Roosevelt Avenue and Laws Antiques and Jewelry on Jefferson Street have both seen a rise in customers looking to sell gold, silver, and other precious metals. However, the dealers say the process has become more complex, with smelters now delaying payment until the metals are fully melted down, rather than paying upon receipt. This means the price quoted by the dealer may not match the final amount the customer receives.

• Midwest Coin and Laws Antiques and Jewelry have both reported the increase in precious metal sales activity in recent months.