GOLD, SILVER & PLATINUM

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  • Bradsknives

    Master
    Rating - 100%
    8   0   0
    Mar 1, 2010
    4,280
    48
    Greenfield, IN.
    Wait.... so you're paying less than spot?

    I'm not sure what point your trying to make...maybe you can explain it better, but yes...it's hard or next to impossible to get spot price even if you deal directly with refineries...they are only going to pay you 97% to 98% of spot on true scrap metals...even the refineries have to make a profit and to deal straight with a refinery most of the time you have to deal with large amounts which the average person does not have or can not do. What I pay is better than any walk in business that the average person would go to to sell their scrap silver & gold. Example: Recently I paid $22 an ounce (10 ounce bar) for .999 silver, spot price was $23 an ounce...even if I sent it to a refinery I wouldn't have gotten $23...they will pay 2% to 3% back of spot. So you can do the math...my profit on that purchase would have been .54 cents an ounce...so I spent $220 to make $5.40 and thats assuming I would have gotten 98% of spot....show me a business that will do that.
     

    Hemingway

    Expert
    Rating - 100%
    4   0   0
    Sep 30, 2009
    794
    16
    Indiana
    Wait.... so you're paying less than spot?

    The only silver I've seen a dealer buy at spot is good condition American Eagles. The last dealer I went to bought all other silver at SIGNIFICANTLY below spot. Like, buying at 12x face, when he's selling at 17x for 90%!

    Of course, Eagles come with such a high premium (up to $3.00 over now), that getting spot for them is still a huge hit to take.
     

    djl02

    Expert
    Rating - 100%
    1   0   0
    Sep 18, 2009
    1,406
    36
    Indiana
    Where is Greenfield? I will be headed up to Greenwood on the 21 of this month. Send me a P.M. and let me know what you will pay for Gold Eagles (per oz) and Silver eagles and I have some 10k gold tie clips, I know the 21 is a ways off ,but if you let me know a price at todays prices,I'll know what to expect on the 21.
    How much do you want to buy? Also you interested in any Euros?
     

    Bradsknives

    Master
    Rating - 100%
    8   0   0
    Mar 1, 2010
    4,280
    48
    Greenfield, IN.
    Where is Greenfield? I will be headed up to Greenwood on the 21 of this month. Send me a P.M. and let me know what you will pay for Gold Eagles (per oz) and Silver eagles and I have some 10k gold tie clips, I know the 21 is a ways off ,but if you let me know a price at todays prices,I'll know what to expect on the 21.
    How much do you want to buy? Also you interested in any Euros?

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