Downies To Close Melbourne CBD Store

[Goldseeker]

I have just received an email from Downies advising that the Melbourne CBD Store located at Southbank will close it's doors on the 31 March 2021.

Tis a pity as I deal with them quite a lot.

I wonder if the Covid 19 virus has something to do with it or maybe they relocated to the wrong place when they left the Arcade location.

[fred lever]

Goldie, they are probably shrinking the footprint to contain costs.
You can only run a high margin buisness so long as the overall bubble does not burst.
As soon as investors realize there is little return on mass produced overpriced goods in large quantity, the bubble pops.
Selling worthless tokens is not numismatics.
Downies is a wonderful institution and must survive to ensure the continuance of the hobby in Australia  so cross your fingers.
Fred.

[JeffH]

Fred, they are not worthless. The metal content has a small value.
Nevertheless people seem to be willing to pay excessive prices for (insert your own word here).

[runway]

Downies will become an online only dealer with their outragous Subscriptions doing them no favours whatsoever their reputation is becoming shocking

[Basil]

Looks like its the Friday the 12th March now.
Hearsay at this stage but they will continue online and with authorised Dealers around Oz/NZ,also a rumour Belinda may have health problems but someone on here may know more.