Hello there. I come from Europe, precious metal market is my hobby for more than one year. My idea is to open online shop (i own IT company) to sell bullion bars and coins to people located in my country. I have mailed to few mints(and banks) but they told me that they only make deals with well established companies in precious metal market. How can my company become well established in pm market if nobody want to deal with me? In my country there are only two online shops which offer bullion, they have poor knowledge about IT,internet marketing or even about bullion! I figured out how these shops work: they get order from customer and than they sent it to the mint or dealer, I plan to do exacly the same way. My question to you is: do you know any dealer or mint which can deal with me? All I want is to find a mint or dealer who will give me a few % discount so my prices will be able to compete with these two shops. Best regards, Pete.
That's a tough one. But, when I was in business, I learned money talks. It may take you placing a substantial order to prove yourself to the supplier and for them to take notice of you. It's risky business because if bullion prices drop, you're stuck taking the loss.
Thanks for your replies. I am searching the internet for almost two weeks and have found nothing. This business is so hard to start almost like selling firearms or nuclear fuel. It seems that i will have to cooperate with one of these two shops. Any way thanks for your help.
Oh that's helpful. And what kind of picture are you "painting" for this fellow? Bad enough that the rest of the world thinks we're the wild west here. Pete, a substantial outlay of money is what you need to convince the "powers that be". I echo Ikandiggits sentiments........
Well, he said this was difficult it was like selling firearms. All you need is an FLL (easy if you haven't committed a felony). But where he lives (Germany), firearms are very regulated. I just wanted to .... crap.... enforcing the wild west stereotype.
Dang Hamm. There must be something stuck in my eye, or maybe I need a new prescription for the glasses I'm wearing, but I don't recall any mention of "firearms" in the OP.....
Post #4- Originally Posted by GoldTooth Thanks for your replies. I am searching the internet for almost two weeks and have found nothing. This business is so hard to start almost like selling firearms or nuclear fuel. It seems that i will have to cooperate with one of these two shops.
Oh dear, there appears to be something stuck in my eye. Or perhaps I need a new eye ware prescription. My apologies to Hamm....
No problem. I understand why you though my post was rather random. I'm not looking for trouble like 90% of CT seems to be since I returned.
Yep, its tough to do coins and an engineering degree. Sheesh, its hard to do engineering and have time to eat!
Gold is the only good that isn't taxed with VAT in EU. Silver is taxed with VAT but I know how to omit this, so my costumers will pay 23% less.
Or they buy online from Chards or Bairds in the UK and pay 20%. Or buy online from www.suissegold.ch or www.proaurum.ch, pay 8% and hope your post service doesn't notice. Or buy online from the Mints on the Isle of Man and Guernsey at 0% tax. (Most EU countries don't realise that these islands are not in the EU!) Or buy second hand from Ebay and pay 0%. Or, if you intend to spend a large sum, drive to one of the low VAT (sales tax) countries in Europe and buy it in person. Switzerland, San Marino, Andorra etc. Buying gold and silver online has never been easier and there's a lot of competition out there! Good luck!! Steve
