Wexford Capital Management, whose Principal was a registered investment advisor from 1985 to 2005, prides itself on offering investment products at very competitive prices over the Internet.  We have reduced our overhead by using this electronic medium, and we intend to pass on the majority of those savings to you, our valued clients.  We charge a 1.1% commission or mark-up over our cost from our wholesalers on Gold Bullion products, a 1.7% commission on Silver Bullion products, and a 1.5% commission on Palladium and Platinum Bullion products, both coins and bars.  Minimum order size, per invoice, is currently $10,000 on both sales and buy-backs.

Listed below are representative prices for the Bullion Coin and Bar products that WCM is currently recommending to clients based on portability, refined purity, market liquidity/ acceptance, and existing premiums over melt.  As one can observe, WCM total premiums over melt or weight-adjusted spot prices are approximately 45% to 20% below that of most coin or bullion dealer offerings.  Reduced transactions costs always benefit the investor right from the outset.

With both U.S. credit and equity markets exhibiting stressed and overvalued conditions, it is a prudent investor who searches for avenues to diversify his/her portfolio into tangible, hard assets, such as precious metals, that  possess the following characteristics:

1.  Negative or weak correlation to price movements in the financial markets, especially the stock market.

2.  A millenniums-old medium of exchange or monetary unit that does not represent any government's liability or ability to repay; confidence in issuing entity is 100% due to ability to assay precious metals for purity.

3.  Reasonable portability should the need arise for transfer during a time of crisis; shipping and handling costs not the detriment suggested by the financial press.

4.  Well-established intermediaries exist for long-term storage and insurance if holdings do not fit in safe deposit boxes or secluded sites controlled by investor.

5.  An asset class that was in a bear market for over 22 years, that was oversold, disdained by Wall Street, and now exhibits signs of physical accumulation while breaking out to new multi-year highs.

6.  Excellent liquidity with bullion markets trading continuously around the globe 23 hours per day and with no determination of market value required by investor upon resale.

7.  An asset that central banks will increasingly use to shore up confidence in sagging fiat currencies as excessive monetary and fiscal policies cause major paper money devaluations going forward.

8.  An asset that has retained its purchasing power during both inflations and deflations, a key characteristic in a time of domestic Dollar devaluation.

Broker's Note, Year's End 2012 (December 31, 2012):  

Throughout 2012, the unbridled governments of the Western, Developed (?) World continued to spend Central Bank created money to attempt to present some semblance of solvency to global investors, but persistently and progressively, the proverbial jig is up.  Putting off the "Fiscal day of reckoning" by pushing all of the hard decisions and actions any responsible government must make to maintain the LONG-TERM health and solvency of its fiscal and financial systems is a strategy bound to colossal failure.  Eventually investors and citizens lose faith in their respective governments as have Greeks, Spaniards, and Italians AND MONEY FLEES TO NEW VENUES AND ASSET CLASSES.  This Capital Flight phenomenon is well underway.

This Loss of Confidence Phase of the Greater Depression we are firmly within will accelerate in 2013 with subsequent panic buying of both Gold and Silver before the year is out as faith in governments and in the buying power of domestic currencies wanes.  Per the most-respected of economic standards, the U.S. economy entered a new recessionary phase in July, 2012, and fiscal uncertainty through to year-end has done nothing but drive a stake in positive economic growth for the U.S. and, hence, global economy going forward.

Since all of us are constantly keeping score, Gold managed a 5.7% gain in 2012 with Silver providing a 6.3% gain even with year-end price capping on the Comex by Goldman, Morgan, & Bernanke.  Now the New York types will beat their chests with a 13.4% gain on the S&P 500 for 2012, but over the relevant 12-year period from year-end 2000, U.S. stocks have only managed an 8% return on the index from 1320.28 on 12/31/2000 to 1426.19 on 12/31/2012.  Add in the measly 2% dividend yield that stocks averaged over this dirty-dozen years, and you get a whopping 32% or an average rate of return of 2.7%.  U.S. STOCKS DID NOT KEEP UP WITH INFLATION DURING THE PERIOD ( or adequately compensate you for the risk of the position ), even using the grossly understated CPI from Uncle Sam.

Gold has averaged 42.2% per annum over this 12-year period, while Silver has returned, on average, 46.2%.

NOW I ASK YOU:  "WHICH ASSET CLASS HAS PROTECTED YOUR WEALTH AGAINST THE RAVAGES OF INFLATION OVER THE LAST 12 YEARS???".  Stocks or Precious Metals?  Even Bernanke or Obama could figure this one out!

( In fact, Sports Fans, since stocks peaked for the prior bull cycle run on October 8, 2007, they are still down by 8.7% over the last 5.25 years, WHILE GOLD HAS APPRECIATED BY 127% AND SILVER HAS APPRECIATED BY 125%. )
 

FOR 2013, Wexford Capital Management will maintain the prior 2012 target for Gold of $2,360 per ounce and for Silver of $57.20 during the year.  A staunch Free-Market Advocate having grown up in a truly free and functioning democracy in the 1950's and 1960's, I underestimated the desperate moves a bankrupt U.S. Government would employ in 2012 with the illegal Comex activities of J.P. Morgan-Chase and Goldman-Sachs:  With free money supplied by the New York Fed, massive trades were employed to attempt to cap both Gold and Silver prices to keep the sheeple piling into Treasuries and not into the Canaries of the Financial System, Gold and Silver.  But as faith in America and American markets fades around the world as a fair and efficient place to risk money, the influence of the Comex/Nymex will fade also in the daily price discovery process for setting both Gold and Silver prices.  Money goes where it is treated best, period.  Financial power is shifting away from Excessive Debt-ridden America in the West to the ever-prudent savers in the East who have centuries of experience with substituting Gold and Silver for failed domestic currencies.


In fact, the U.S. Government is so desperate to keep the Ponzi-scheme U.S. Treasury market appear to be a safe-haven for funds fleeing other depreciating assets that the Bernanke Fed bought over 60% of all new Treasury Issuances in 2011 and is on it's way to monetizing over 90% of all new Treasury Issuances for 2012.  ANY SOVEREIGN COUNTRY THAT MUST BUY IT'S OWN DEBT TO STAY SOLVENT IS EFFECTIVELY BANKRUPT.   Desperate, bankrupt governments do desperate things, you are forewarned.  Even 10% interest rates on U.S. Treasury Notes & Bonds will not be sufficient in 2013 and beyond to cover credit risk and default risk contained in U.S. Government Debt, a DUBIOUS promise-to-pay that is no longer AAA, Investment Grade.  Hard to imagine, but U.S. Treasuries are headed to Junk Bond status with a non-functioning Legislative & Executive Branch and a Central Bank that operates outside of Congressional oversight, flooding the world with rapidly depreciating Dollars debased through an endless supply of Trillions of Newly Created Dollars per annum.


********************************

Prudent investments in precious metals today are indeed, as in every other major turning point in history, very cheap insurance against the economic and financial collapse in the monumental adjustment period we currently find ourselves within.  No economic or financial system in the history of man can withstand an evaporation of $10's Trillions of purported "assets" without seismic consequences to the surrounding societal structures.

When the Powers That Are forestall the inevitable re-balancing / adjustment process through ultra-cheap money first from Alan Greenspan and now Ben Bernanke, and persistent/$Trillion Guarantees/Bail-Outs from the U.S. Treasury, Congress and FEDERAL RESERVE, the net result is an inevitably more dire one for the constituents for whom they act.   Hundreds of years of history support my perspective and conclusion.  "This Time Is Different" will not rewrite the lessons of such historical precedents in human history.

It will not be business as usual in the years ahead, PERIOD.    A severe recession followed by an inevitable Depression with widespread debt repudiation is already in progress for all with a pulse to see.  He who fails to act will be financially devastated along with the coffers of the country.

Buy a prudent allocation of precious metals and take physical possession.  The traditional allocation of 10% to 15% of investment assets is now obsolete due to the enormity of the Tens of $Trillions of Global Debt and Equity that will evaporate in the years ahead.  PHYSICAL GOLD, SILVER, PALLADIUM, AND PLATINUM are no one else's liability, unless you acquire them in paper, "promise-to-deliver" instruments.  Have you or your accountant audited the operations and financial statements of those that offer or provide you with precious metals' electronic, paper instruments or certificates, even the untested and unaudited ETF's?

THE ONLY WAY TO AVOID BEING DEVASTATED FINANCIALLY DUE TO THE RAPIDLY UNFOLDING financial and economic depression IN 2013 IS TO INVEST DEFENSIVELY IN TANGIBLE ASSETS in physical form.  ALL FINANCIAL AND PAPER ASSETS MUST BE ANALYZED WITH A FINE-TOOTH COMB GOING FORWARD TO DETERMINE THEIR ABILITY TO RETURN PRINCIPAL UPON DEMAND.  TRUST ONLY THAT WHICH YOU CAN CONFIRM WITH YOUR OWN EYES.

 

Click on Images for Bullion Product Details

 

	Product Description	WCM SELLING   PRICE	Premium Over Melt	WCM BuyBack   Price
Au	GOLD	1.1% Over
	$1,366.00	Cost
Delivered	American BUFFALO Gold Coin, 24 karat  - One Ounce, Prior Dates Only  7x Coin Minimum	$1,431.56	4.8% $65.56	$1,387.45
Note	GOLD VOLUME DISCOUNTS  All Gold Bullion prices shown as "Delivered".	For 50 Oz. or more of Gold, $2.00 Discount per Ounce.	For 100 Oz. or more of Gold, $3.00 Discount per Ounce.	For 200 Oz. or more of Gold, $4.00 Discount per Ounce.
Delivered	American Eagle Gold Coin - One Ounce, 2013 Date 7x Coin Minimum	$1,431.56	4.8% $65.56	$1,387.45
Delivered	Canadian Maple Leaf Gold Coin  - One Ounce, 2013's 7x Coin Minimum	$1,410.15	3.2% $44.15	$1,364.48
Delivered	S. African Krugerrand Gold Coin - One Ounce / PRIOR DATE  7x Coin Minimum SPORADIC AVAILABILITY - ASK	$1,422.33	4.1% $56.33	$1,385.59
Delivered	Austrian Vienna Philharmonic Gold Coin - One Ounce, Prior & 2013 7x Coin Minimum	OUT
Delivered	Australian Perth Mint Kangaroo Gold Coin - One Ounce, 2013 Date 7x Coin Minimum	$1,414.53	3.5% $48.53	$1,364.48
Delivered	PAMP-Suisse  Registered Gold Bullion Bar - One Ounce, 24 karat 7x BAR Minimum	$1,402.11	2.6% $36.11	$1,357.90
Delivered	PERTH MINT  Registered Gold Bullion Bar - One Ounce, 24 karat, IngotCard Packaging 7x BAR MINIMUM IRA QUALIFIED	$1,401.10	2.6% $35.10	$1,356.91
Delivered	PERTH MINT Gold Bullion Bar - TEN Ounce, .9999 Purity/ 24 kt./ Registered / IngotCard IRA QUALIFIED	$13,918.94	1.9% $25.89	$13,480.07
Delivered	Comex KILOGRAM Gold Bullion Bar - 32.15 Ounces, 24 karat Comex Approved Refiner / Pamp-Suisse, RCM, J-M	$44,546.25	1.4% $19.58	$43,105.91
Ag	SILVER	ASK	Premium	BID
	$22.45	1.7% Over Cost
Delivered	SILVERTOWNE Silver ROUND - One Ounce,  Fraser Buffalo Nickel Design / DELIVERED 500x Coin Lot Pricing	OUT
	SILVER VOLUME DISCOUNTS *	For 10,000 Ounces or More of SILVER	For 20,000 Ounces or More of SILVER	For 30,000 Ounces or More of SILVER
	Volume Discounts	$0.06 Off per Ounce	$0.10 Off per Ounce	$0.15 Off per Ounce
NEW ITEM	REPUBLIC METALS Silver ROUND - One Ounce / DELIVERED .999 Pure Silver, U.S.A. Mint / Refiner IRA Qualified Refiner 400x Coin MINIMUM	$23.94	6.6% $1.49	$22.36
Delivered	REPUBLIC METALS Silver Bullion BAR -   - Ten Ounce / DELIVERED 40x Bar Minimum .999 Pure Silver, U.S.A. Mint / Refiner IRA Qualified Refiner	$237.37	5.7% $1.29	$223.63
Delivered	REPUBLIC METALS Silver Bullion BAR -    - 10 Ounce / DELIVERED 50x BARS Plus PRICING .999 Pure Silver, U.S.A. Mint / Refiner	$236.68	5.4% $1.22	$223.63
Delivered	100 OUNCE Silver Bullion BAR - REPUBLIC METALS, Florida, USA / DELIVERED 4x Bar Minimum, NEW Bars .999 Pure Silver, IRA Qualified Refiner	$2,394.02	6.6% $1.49	$2,226.50
Delivered	American EAGLE Silver Coin - U.S. MINT, One Ounce / DELIVERED 2013 Date	$26.33	17.3% $3.88	$23.84
Note	- 1x Box / 500 count ( 400 to 480 oz. available at 10 cents more per oz. in 20x coin rolls )	$13,165.07	17.3% $3.88	$11,918.88
Delivered	Vienna PHILHARMONIC Silver Coin - Austrian Mint, One Ounce / DELIVERED 2013 Date	$26.18	16.6% $3.73	$23.54
Note	- 1x Box / 500 count ( 400 to 480 oz. available at 10 cents more per oz. in 20x coin rolls )	$13,088.79	16.6% $3.73	$11,771.43
Delivered	Canadian MAPLE LEAF Silver Coin - Royal Canadian Mint, One Ounce / DELIVERED 2013's, .9999 Purity Silver	$25.77	14.8% $3.32	$23.54
Note	- 1x Box / 500 count ( 400 to 475 oz. available at 10 cents more per oz. in 25x coin rolls )	$12,885.39	14.8% $3.32	$11,771.43
Delivered	90% Junk Silver Bag - 715 Troy Oz., FULL BAG, $1,000 Face Value / DELIVERED Dimes or Quarters	OUT
Delivered	90% Junk Silver Bag - 357.5 Troy Oz., HALF BAG, $500 Face Value / DELIVERED Dimes or Quarters	OUT
Pd	PALLADIUM	ASK	Premium	BID
	$743.00	1.5% Over Cost
Delivered	Canadian Maple Leaf PALLADIUM Coin - One Ounce / DELIVERED 14x Coin Minimum	$787.21	5.9% $44.20	$734.81
Delivered	PAMP-Suisse PALLADIUM Bullion Bar - One Ounce / DELIVERED 14x Bar Minimum 1 Week Out	$762.70	2.7% $19.70	$725.95
Delivered	PAMP-Suisse PALLADIUM Bullion Bar - TEN OUNCE / DELIVERED 1 to 2 Weeks Out to Ship	$7,780.99	4.7% $35.10	$7,259.45
Pt	PLATINUM	ASK	Premium	BID
	$1,465.00	1.5% Over Cost
	American Eagle Platinum Coin - Any Date, One Ounce / DELIVERED 7x Coin Minimum	NOT AVAILABLE
PERTH PLATYPUS One Ounce PLATINUM Coin, .9995 Pt		$1,530.77	4.5% $65.77	$1,466.21
Delivered	PAMP-Suisse or Johnson-Matthey Platinum Bar - ONE OUNCE  / DELIVERED 7x Bar Minimum 1 to 2 Weeks Out to Ship	$1,521.34	3.8% $56.34	$1,446.82

 

BULLION PURCHASE REQUEST

 

Intra-Day PRICE UPDATES

WCM QuoteTron INTERACTIVE

( Input current or your own target spot
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Scorecard of Historical Metals Prices

Frequently Asked Questions

Many clients have inquired as to how they should store their precious metals investments, and certainly with gold, palladium, and platinum, a safe deposit box is a viable alternative.  Regarding silver, with a much lower value to weight ratio, it may require a little more ingenuity, but for clients with personal residences and any amount of property, there are many creative alternatives.  Silver is going to tone over time, often becoming very dark with a silver oxide coating, but resale value is never affected by this natural occurrence; in fact, it is expected.  Gold is a more inert metal, so very little toning occurs over time.

For clients that do not want to handle or store their precious metals purchases, there are numerous gold bullion  storage or depository services around the country that charge a nominal annual fee of around 1.5% of stored value for fully insured, segregated storage and safekeeping.  Since 1997, I personally have used the services of Delaware Depository Service Company (DDSC) in Wilmington, Delaware, and I find their services to be very professional, highly secure, and competitively priced.  Their website is at www.delawaredepository.com and an account can be opened prior to placing a precious metals order with WCM.  A copy of the DDSC Individual Precious Metals Storage Agreement can be found at:

We will drop ship your order right to their Wilmington, DE storage facility with your account title and DDSC account number on the shipping label and enclosed invoice.  With the first terrorist attacks on U.S. soil in 1991, I personally like the fact that their location is not considered a prime terrorist target, not to mention their multi-decades' reputation and diversity of depository services.

All investors must do their own due diligence in selecting a gold bullion storage or precious metals storage company, and Wexford Capital Management receives no consideration, monetary or otherwise, for making this recommendation.   I offer this information strictly in an effort to assist existing and prospective clients in their physical gold, silver, palladium, and platinum precious metals investing.  Third-party bullion storage may be especially appropriate for investors considering significant volume purchases of the precious metals.

David W. Young, President
Wexford Capital Management

Wexford Capital Management
David W. Young, President
113 Brenton Court
Stephens City, VA  22655-4819
Toll-Free  (877) 855-9760 
Fax (866) 611-3526