Discussion in 'Bullion Investing' started by Sallent, Sep 24, 2022.
Paid melt value for it all.
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Be courious what your friend who owned the shop would have paid, if PM's go back down another 10% we know who to point the finger at.
Personally I think it would have been unethical for me to offer to pay less than melt value when I'm keeping this for my personal collection and not reselling it, so yes, I think I did fine, and I'm thrilled.
I did not ask my friend what he would have paid, but safe to say it would have been less because he's running a business and has to resell it. You've got me curious now, I think I'll ask him next time I see him.
curious, let us know the results.
You did say one of your former legal clients who needed quick cash, so you knew the seller on some personal level.
If you didn't know this person from Adam and approach the transaction like a dealer, make the money when you buy it right and again if you sell it right.
When would someone ever pay less than melt FOR PM?
Some dealers will try to quote you a slight discount when they buy gold bars, generic rounds, etc. The discount is not great, maybe $50-$75 below melt per ounce from what I've heard, but yeah, that's a thing. But you have to understand, things like that are slow movers. Gold generic rounds and bars are great to purchase for very low premium, but they also resell for very little, if any, premium...and probably resell slower than something more popular like an Eagle or a Krugerrand, etc. So it would make no sense for a dealer to pay melt on that.
When they can't sell it for much more than melt, and need to make a profit to stay in business?
When your the buyer.
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