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<p>[QUOTE=&quot;Gam3rBlake, post: 7472617, member: 115909&quot;]Today I walked into a local place in Los Angeles that I found on Google.</p><p><br /></p><p>I wanted to sell some 1oz silver generic rounds so I could buy some platinum on JMB.</p><p><br /></p><p>The guy said he pays 30% of spot for gold and silver.</p><p><br /></p><p>No that is not a typo: He offered thirty percent of spot!</p><p><br /></p><p>Thats about $8/oz for silver.</p><p>&amp; about $540/oz for gold.</p><p><br /></p><p>I actually laughed. Obviously I didn’t accept his deal. He actually tried to make me feel like 30% of spot is a fair dealer and that I didn’t know what I was talking about.</p><p><br /></p><p>Then I tried to show him what JMB pays for bullion and explained that it’s closer to 80-85% that is a fair deal.</p><p><br /></p><p>He responded to that by saying he has to pay overhead, utilities, employees, rent etc., and that is why 30% is fair.</p><p><br /></p><p>But I know a lot of dealers with physical stores like Vernillion Enterprises who pay spot or slightly less for silver &amp; gold.</p><p><br /></p><p>It was definitely an interesting experience being lowballed like that. I’ve never been nearly as badly lowballed by a dealer.</p><p><br /></p><p>But I’m curious how often it happens to that extreme.</p><p><br /></p><p>What’s the lowest offer a dealer has made you for bullion?[/QUOTE]</p><p><br /></p>

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