What are the local dealers charging for bullion

I'm curious to what local dealers are charging in your area for bullion. The local coin shop here charges $75 over spot claiming they only make %1 profit on bullion.

If you try to sell gold back to them they will only give spot.

 

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$75 over spot is a good deal these days.

 

At first I thought, only 1 percent? But then I read "profit." That could easily be if the dealer really means "profit" versus "gross margin."

For example, does the dealer take credit cards for payment for bullion? That's a couple or three (or more) percentage points out the door right there.

If it's a one percent gross margin, I don't think the dealer could live on that and pay expenses.

 

credit cards! I dont know who would continue to enrich the banks/crooks after this travesty!

Cash is king & puts your fellow man at an advantage NOT your mafia boss/banker

At a show in anaheim,ca they are charging 80-100 over spot for AGE's & $5 over spot or ASE's.

I have seen AGE's at gainesville coins for $55 over spot

 

All bullion has to be bought with cash. They say it's because they only make 1 percent and the 2-3% cc fee would mean they loose money. They are obviously lying abbou the 1% which bothers me. I don't care how much they are making off bullion, but i don't like fake numbers thrown at me.

 

+1, although I can negotiate a slightly better rate.

 

Purchased 10 - 1 oz maple leafs last weekend. $1000 each. Spot was ~$940.00

ASE were selling for $15.50 each at most tables. Spot was ~ $13.50

 

jim, what condition where the ASE's in? Right now, you cant get ASE's for less than $18... even for 500 oz monster boxes.

 

My B&M guy sells Kruggerands for $60 or so over spot.

 

at $2 over spot, not bad at all. I went to the burlington coin show in jersey about 3 weeks ago... and they wanted $19 or $20. decided to skip.

 

Currently the best deal I can get in Reno, NV is Spot+65. I never buy locally though since I have to add sales tax which at 7.375% is effectively doubling the spot premium and since it is cash, I trust the dealers to line their pockets and lie to the state.

Buying online when I can find some deals or saving up the money I would like to spend and blow it all in Oregon when I make the occasional trip up there.