Thinking of starting a bullion group.

Hey gang!

I've been bouncing around an idea and I wanted to bounce it here a little.

As you know when ordering bullion... the more you buy at once the cheaper it is... you know the drill.

I have been thinking about organizing a group here locally that would pool their money and then when the group agrees the time is is right making the order...everyone gets a better deal. This wouldn't be a like an exclusive club... no dues, or membership... just folks working together to get a better deal...

Anyone have any thoughts about this? anyone ever participated in something like this?

Matt

 

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I buy more Junk than bullion and even at that I get very small amounts at a time, but I would definitly pay attention to the tread if something like that started and participate if I could. what would the minimum orders need to be. A tube?

sounds like a great idea!! GOOD LUCK!

 

Bullion Group

I tried to do this at work a few years ago when Silver was at $18. Nothing came of it...to this day I still regret it.

 

:smile sounds good to me !!!

 

how much would we have to buy to save money?

 

I think this is a great idea and I would definetely like to participate.

 

It takes quite a bit... So the average guy probably wouldn't get involved... I don't think you get discounts till you get to 10 ounces of gold...

 

so just buy bulk amounts of 1/10ths. I'd be interested.

or commit to an ounce I guess.

 

Yeah the premiums for 1/10's are a lot even in quantity... you'd want to stick to one ouners.

 

are you talking about silver or gold or both ?

 

i know but it would be nice to have some 1/10ths as cheap as possible. anyway I'd might like an ounce of gold bought in the pool.

 

That's the thing... everyone would have to want the same item... that's probably the only way to get them much cheaper. So it could be either but you would need an organizer that everyone trusts to make the order.

 

you have a coin business, it might as well be you.

 

Well there are other things that are involved... payment would need to be up front.. and the pricing would only be locked in once the order is made... How is that handled?

Also what if someone drags their feet getting their money in... lots of stuff to consider.

I honestly think that this is a good idea if it all works like it should... but could be a tremendous nightmare if something doesn't work right. I wasn't voluenterring to do one here on CT... someone else can organize that... I'm thinking locally where you can meet people in person.

 

it sounds good in theory , but sounds like a lot of trouble Matt

i like when you do 90% silver lots .

my grandpa was in a gold club years ago(gold then $500 oz) every week they put in money each person had a acct . the head guy would buy in one order

 

I would definitely be interested in it but as you mentioned the logistics of it become a problem. I think the first place to start (since you have interest from the group) is to find out what kind of discounts we are talking about to see if it is worthwhile. Say if we get 10 people together to buy 10oz of gold - are we saving $25/oz or saving $100/oz? Is it worth all the trouble to save that amount of money?

 

What a tease!! LOL

 

no kidding considering he owns a coin shop. thanx a lot

 

Hey, you guys are free to run with the idea... I'm just not going to be part of it here on CT.

 

OK, thanks so much for the help. and buh bye.