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?

"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.

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.

"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.

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

"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!

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