I have a local shop that is offering to sell junk silver for spot based on weight (minus 10% obviously). Is this a good deal? The shop is a jewelry/pawn shop that buys and sells all types of stuff, but mostly precious metals. I am not used to seeing it priced this way so I don't know if there are any downsides to buying it by weight alone. Should I try to get a price lower than spot? Should I tell him I will only buy if we do the traditional "X times face value" method of figuring value? Thanks for your help.
My limited search leads me to believe that Tulving has the lowest prices on many products for people who are buying size. Currently they sell $1,000 90% mixed bags at Kitco spot ask times 715 with free shipping. I have no idea as to whether they are good people to deal with nor am I recommending them. They just seem to have low, no-frills pricing which may help you determine pricing. Trying to tell a merchant how to price his product may not be wise.
Not so much that I am trying to tell him how to price his product as I am telling him how I am willing to figure out that price. I know that his normal process to sell this is through a refiner, so if I am buying at spot or close then he is making more money than through the refiner. This is why he is willing to deal with me. If he doesn't agree to what I want then I can always find someone else to buy from. Thanks for the suggestion, but $1000 bags of junk silver are out of my price range by about $14,500. What percentage of spot do refineries pay for junk silver?
I've Dealt With Tulving For Years My personal opinion is that Hannes Tulving is the most honest "dealer" around. You generally can't compete with his buy/sell prices, and his terms are extraordinary. He's a "no-nonsense/negotiation" guy who doesn't discuss terms, as they are all posted on his site. I had a "dealer" contact me last night to offer me spot minus $45 for "Top Tier" TPG MS70 1 Oz. Gold Eagles, with my paying all shipping/insurance. I sent him a link to the Tulving site where they pay spot + $30 for any date raw $50 Eagle, also paying all shipping/insurance. Almost $100 difference per raw 1 Oz. Gold coin. He uses the "standard" of 715 oz. Silver per $1000 face value of 90% silver coins. I personally would appreciate hearing of anyone who even comes close to Tulvings' terms. :thumb:
