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<p>[QUOTE=&quot;Cazkaboom, post: 1448005, member: 33215&quot;]So the other day, my dad&#039;s friend bought a Sterling Silver serving tray at a garage sale along with some miscellaneous items all for $50. He was going to take it to one of those hotel scam businesses until my dad said he&#039;ll take it to our coin club today.</p><p>We took it and used a Postal scale saying 35.8oz, about 32.23 troy oz of Sterling. </p><p>This amounts to nearly $825 in silver. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie9" alt=":eek:" unselectable="on" unselectable="on" /></p><p><br /></p><p>So my dad&#039;s friend told my dad he would love to get as much as he can out of it and would be happy with $500. </p><p>Well, we took it to our coin club, my dad shows it to the dealer. The dealer really likes it and asks what he is looking for. My dad had me do the math for them and show them the exact price and weights. </p><p><br /></p><p>Lets change the subject for a second. A dealer near us will buy at 80% of melt and send it in for melting and gets paid 90% of melt getting 10% profit. With those numbers, they would be paying $660 and make $82.50 in profit if silver stays steady.</p><p><br /></p><p>This is my dad&#039;s friend we are talking about, so you would think my dad would love to get him the biggest bang for the buck, right?</p><p><br /></p><p>Well, he tells the dealer that he&#039;ll sell it for $500 flat. Leaving the dealer with almost $250 profit. The dealer obviously took it (Who wouldn&#039;t?) and paid cash. My dad thought it was a big success, but I just couldn&#039;t stand his antics.</p><p><br /></p><p>I know it is a Win-Win-Win situation for the friend, who made $450; the dealer getting $250; and the smelter getting their prifit. But I see it as a Win(ish)-Win(more)-Win situation without my dad even trying to get the friend some more bang for his buck. </p><p>I was scolding his logic on the ride home, but it still really ticks me off that he didn&#039;t even start with some haggling.</p><p><br /></p><p>Rant over.</p><p><br /></p><p>In other news, I got a proof Franklin (1963) for perfect attendance in our Coin Club. Not complaining about that. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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