DALLAS, TX / ACCESSWIRE / April 1, 2020 / DGSE, LLC ("DGSE"), a subsidiary of Envela Corporation (NYSE American:ELA) ("Envela" or the "Company"), announced today that its Bullion Express and Dallas Gold & Silver Exchange brands have secured 5,000 troy ounces of silver-bullion products in various forms to sell per day, while supplies last.
"We've seen that obtaining larger quantities of physical silver bullion in the open market for immediate delivery is quite challenging these days, which national media report may be related to an unusually wide spread between precious-metal futures prices and spot prices," said Scott Mosley, DGSE's President. "We understand that the U.S. Mint even depleted its supply of iconic American Silver Eagle bullion coins following a 300% increase in March sales," added Mosley.
But DGSE's efforts to make silver bullion available to its clients have borne fruit. "We have been determinedly seeking silver in all forms for immediate delivery to meet the needs of our customers," continued Mosley, "and we've secured an agreement to receive 5,000 troy ounces per day of physical silver in various forms, while supplies last."
Demand for immediate delivery will be allocated on a first-come, first-served basis. NO ADVANCE SALES.
Contact Dallas Gold & Silver Exchange at (972) 484-3662 for details.
DGSE focuses on recommerce of luxury brands and diamonds. Its retail strategy is anchored in being an information resource for clients, bringing transparency to purchase and sale transactions, and offering value and liquidity to those seeking to buy, sell or trade jewelry, watches, diamonds or coins.
DGSE wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare coin products through its Charleston Gold & Diamond Exchange, Est.1999, (www.cdgeinc.com) and Dallas Gold & Silver Exchange, Est. 1978, (www.dgse.com) operations.
DGSE strives to deliver an unrivaled customer experience. It features a broad selection of high-quality vintage and new jewelry, precious-metal bullion, rare coins, fine timepieces and diamonds, together with value pricing and a customer-friendly sales process.
DGSE has specialized in buying and selling jewelry for over 40 years, making our expert staff among the best in the business.
Envela and its subsidiaries engage in diverse business activities within the recommerce sector. These include one of the nation's premier authenticated recommerce retailers of luxury hard assets; end-of-life asset recycling; data destruction and IT asset management; and providers of products, services and solutions to industrial and commercial companies.
Envela operates primarily via two business segments. Through DGSE, LLC, the Company will operate its Dallas Gold and Silver Exchange, Charleston Gold & Diamond Exchange, and Bullion Express brands. Under ECHG, LLC, it will operate Echo Environmental, ITAD USA and Teladvance. Envela is a Nevada corporation, headquartered in Dallas, Texas.
Additional information about Envela is available at its investor-relations site, Envela.com.
This press release includes statements that may constitute "forward-looking" statements, including statements regarding potential future demand for, and availability of silver or other precious-metal bullion products. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, market conditions and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.
Investor Relations Contact:
Head of Investor Relations
13022 Preston Rd Dallas, TX 75240 972.587.4030
SOURCE: Envela Corporation