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#1
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Is this guy a crook?
As an experiment, I walked into a local B&M place today that seems to
specialize in gold and silver. I plonked down $10 worth of 40% halves and asked his buying price. After a diligent look at his computer, he said "Fifty dollars." "Fifty dollars!" I exclaimed, barely keeping from laughing. "I think I'll keep it for that." The guy looked a bit disgruntled and I wondered if I'd looked like such an easy mark! I also wondered if his look at the computer was really just taking a moment to see how much he could rip me off for. Thoughts? |
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#2
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Is this guy a crook?
"GritsMan" wrote in message ... As an experiment, I walked into a local B&M place today that seems to specialize in gold and silver. I plonked down $10 worth of 40% halves and asked his buying price. After a diligent look at his computer, he said "Fifty dollars." "Fifty dollars!" I exclaimed, barely keeping from laughing. "I think I'll keep it for that." The guy looked a bit disgruntled and I wondered if I'd looked like such an easy mark! I also wondered if his look at the computer was really just taking a moment to see how much he could rip me off for. Thoughts? I wouldn't trust a baked beans store to know silver values. |
#3
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Is this guy a crook?
On Mar 4, 5:10*pm, "GritsMan" wrote:
As an experiment, I walked into a local B&M place today that seems to specialize in gold and silver. I plonked down $10 worth of 40% halves and asked his buying price. After a diligent look at his computer, he said "Fifty dollars." "Fifty dollars!" I exclaimed, barely keeping from laughing. "I think I'll keep it for that." The guy looked a bit disgruntled and I wondered if I'd looked like such an easy mark! I also wondered if his look at the computer was really just taking a moment to see how much he could rip me off for. Thoughts? You have slightly more than 2.5 Oz of Ag. Ag was about $34 to $35 today. Its up to you how much mark-down you will tolerate. |
#4
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Is this guy a crook?
"GritsMan" wrote in message ... As an experiment, I walked into a local B&M place today that seems to specialize in gold and silver. I plonked down $10 worth of 40% halves and asked his buying price. After a diligent look at his computer, he said "Fifty dollars." "Fifty dollars!" I exclaimed, barely keeping from laughing. "I think I'll keep it for that." The guy looked a bit disgruntled and I wondered if I'd looked like such an easy mark! I also wondered if his look at the computer was really just taking a moment to see how much he could rip me off for. Thoughts? 40% half dollars are worth about 11X face based on silver's closing price on Friday ($35.67). Perhaps if you negotiated you may have got the dealer to up his offer. Don't expect to sell to a dealer at melt, he has to make a buck too. My local dealer sell me junk silver pretty much at melt, so I imagine that he would pay less than melt when buying. |
#5
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Is this guy a crook?
On Mar 5, 7:47*am, "Beanie" wrote:
"GritsMan" wrote in message ... As an experiment, I walked into a local B&M place today that seems to specialize in gold and silver. I plonked down $10 worth of 40% halves and asked his buying price. After a diligent look at his computer, he said "Fifty dollars." "Fifty dollars!" I exclaimed, barely keeping from laughing. "I think I'll keep it for that." The guy looked a bit disgruntled and I wondered if I'd looked like such an easy mark! I also wondered if his look at the computer was really just taking a moment to see how much he could rip me off for. Thoughts? 40% half dollars are worth about 11X face based on silver's closing price on Friday ($35.67). Perhaps if you negotiated you may have got the dealer to up his offer. Don't expect to sell to a dealer at melt, he has to make a buck too. My local dealer sell me junk silver pretty much at melt, so I imagine that he would pay less than melt when buying. I agree that $50 was an insult. $10 face today @40% silver content is $105.80. I buy and sell silver, and understand that a buck needs to be made, but around 50% mark up is a pretty good profit!!! I usually buy @ 10% over and sell @ 15% just for junk and spec..sometimes less, sometimes more...but 50%????????? i would be happy to screw you only out of 40%!!!!!! (lol) Anyway you were right, (in my humble opinion) to wonder and barely keep from laughing!! Don't know where you live, so not able to recoment a good dealer..Not sure what B&M is (mayby bowelmovement), but a good coin store will treat you right Good luck BigDog |
#6
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Is this guy a crook?
"BigDog" wrote in message ... I agree that $50 was an insult. $10 face today @40% silver content is $105.80. I buy and sell silver, and understand that a buck needs to be made, but around 50% mark up is a pretty good profit!!! I usually buy @ 10% over and sell @ 15% just for junk and spec..sometimes less, sometimes more...but 50%????????? i would be happy to screw you only out of 40%!!!!!! (lol) Anyway you were right, (in my humble opinion) to wonder and barely keep from laughing!! Don't know where you live, so not able to recoment a good dealer..Not sure what B&M is (mayby bowelmovement), but a good coin store will treat you right -=-=-=-=-=-=-=-=-=-=-=- You buy at 10% over and sell at 15% over? I'm selling all my silver to you! |
#7
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Is this guy a crook?
On Mon, 7 Mar 2011 19:52:18 -0800 (PST), BigDog
wrote: On Mar 5, 7:47*am, "Beanie" wrote: "GritsMan" wrote in message ... As an experiment, I walked into a local B&M place today that seems to specialize in gold and silver. I plonked down $10 worth of 40% halves and asked his buying price. After a diligent look at his computer, he said "Fifty dollars." "Fifty dollars!" I exclaimed, barely keeping from laughing. "I think I'll keep it for that." The guy looked a bit disgruntled and I wondered if I'd looked like such an easy mark! I also wondered if his look at the computer was really just taking a moment to see how much he could rip me off for. Thoughts? 40% half dollars are worth about 11X face based on silver's closing price on Friday ($35.67). Perhaps if you negotiated you may have got the dealer to up his offer. Don't expect to sell to a dealer at melt, he has to make a buck too. My local dealer sell me junk silver pretty much at melt, so I imagine that he would pay less than melt when buying. I agree that $50 was an insult. $10 face today @40% silver content is $105.80. I buy and sell silver, and understand that a buck needs to be made, but around 50% mark up is a pretty good profit!!! I usually buy @ 10% over and sell @ 15% just for junk and spec..sometimes less, sometimes more...but 50%????????? i would be happy to screw you only out of 40%!!!!!! (lol) Anyway you were right, (in my humble opinion) to wonder and barely keep from laughing!! Don't know where you live, so not able to recoment a good dealer..Not sure what B&M is (mayby bowelmovement), but a good coin store will treat you right A "B&M" is a "brick and mortar" store. In other words, a real store and not someone selling out of their home, car, table at a show, or on the street corner. -- Tony Cooper - Orlando, Florida |
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