Word: bullion
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Downfall of a bullion dealer...
...while at least, William Alderdice, 39, and his brother James, 26, seemed to have the Midas touch. During the past three years, they transformed a small storefront jewelry business in Fort Lauderdale, Fla., into the International Gold Bullion Exchange (IGBE), a thriving enterprise with 1,000 employees, branch offices in Dallas and Los Angeles, and 1982 sales of $80 million. William Alderdice, the company's chief executive, bragged that IGBE was the biggest gold and silver dealer in the U.S. In television commercials and ads splashed across such newspapers as the New York Times and the Wall Street Journal...
Dealers will sell the U.S. coins at prices based on the going rate for gold bullion, plus sales tax and a commission expected to range from 4% to 8%. Late last week shoppers in New York City could pick up a shiny new 1-oz. medallion bearing the likeness of Louis Armstrong...
...week a team of civilian divers was laboriously bringing to the surface 23-lb. gold bars taken from the cruiser's ammunition room. It quickly became one of the most lucrative deep-sea salvage missions ever undertaken. By week's end, more than $50 million worth of bullion had been recovered. At current prices, the full trove of the Edinburgh will be worth about $85 million. Said Britain's Keith Jessop, 48, who organized the expedition: "That's one in the eye for all those people who've been calling me a blind fool...
...weakening West German currency. In Zurich, the Swiss franc dropped into a two-year trough of 1.95 to the dollar, and in Milan the Italian lira plunged to a record low of 1,019 against the dollar. At the same time, the declining value of gold pushed bullion to $500.50 an ounce at week's end, or a little more than half the all time peak of $850 an ounce reached one year...