Some dealers have lost their mind

piecesofme · September 16, 2014 6:25AM

I ask to see what's the .999 silver bin. Dealer says sure but feels sompelled to tell me that silver is up today and he's charging more. I pull out my phone and Spot is up alright... .07 at the time, and instead of the MARKED price of the 1 oz'ers being Spot + $1.00, he says today it's Spot + $1.25.
I didn't say another word and just left. Another bridge torched after doing business off & on for the last 12 years. Never really liked the hump anyway. It stinks in there.

rawteam1 · September 16, 2014 7:26AM

Y get all mad at a guy who read your thread on raising premiums?
He just obliging u...

guitarwes · September 16, 2014 7:29AM

<< Never really liked the hump anyway. It stinks in there. >>

Classic autocorrect given the context of the post.

TwoSides2aCoin · September 16, 2014 8:07AM

I read about a dealer who lost a customer of 12 years over eighteen cents , on another forum. Was that you ? Man those dealers really squeeze a guy.

PerryHall · September 16, 2014 8:37AM

<< I read about a dealer who lost a customer of 12 years over eighteen cents , on another forum. Was that you ? Man those dealers really squeeze a guy.

>>

Sometimes a straw breaks the camel's back.

ebaytrader · September 16, 2014 8:46AM

Published spreads increased today meaning the replacement costs went up.

Bochiman · September 16, 2014 8:56AM

Enough bridges get burned over $0.18 and someone may find themselves an island unto themselves with nowhere else to go.

BAJJERFAN · September 16, 2014 9:29AM

<< Published spreads increased today meaning the replacement costs went up. >>

If you're replacing it. If you count on replacement inventory walking in the door, chances are you'll pay the same as you did yesterday.

piecesofme · September 16, 2014 10:24AM

Sometimes a straw breaks the camel's back

This. That's why our business was off & on over 12 years. I guess it's off again.
Just couldn't beleive the nerve of it when the price was still posted as +1 but he wants to squeeze an extra .25/oz because he knows I buy in volume. he would've made apx. another $25-30 off me if I would've allowed it, again, because I buy in volume. I'd bet an ASE he wasn't doing it to the people coming in only buying 1 or 2 oz's, not worth it, but he does it to me to squeeze $25.
I'll end up going back after a cooling off period, and this just gave me ammo to "negotiate" the next deal.

TwoSides2aCoin · September 16, 2014 11:03AM

Some dealers

1.8 ounces of silver casino tokens sold for $11.54

I don't know why I do this.

bronco2078 · September 16, 2014 11:30AM

I don't like when dealers mark things SPOT +1 . I want them to be able to offer them to be at a lower price than the next guy.

I'm a smooth character so I get everything at a better price . I firmly believe this

lcoopie · September 16, 2014 12:01PM

Lost their mind??

bronco2078 · September 16, 2014 12:16PM

<< Some dealers

1.8 ounces of silver casino tokens sold for $11.54

I don't know why I do this. >>

those things suck smash the centers out of them and scrap them and throw the rings in the trash.

Its service to mankind to destroy them. It reduces the number of nimrods that might potentially decide to collect them in the future , karma wise , destroying casino tokens is right up there . Scrap out 10 and its the same as pulling a drunk out of a burning building.

tneig · September 16, 2014 12:57PM

Yeah, cool off. Go back sometime. He may have been pinched with the spot drop.

<< Sometimes a straw breaks the camel's back

This. That's why our business was off & on over 12 years. I guess it's off again.
Just couldn't beleive the nerve of it when the price was still posted as +1 but he wants to squeeze an extra .25/oz because he knows I buy in volume. he would've made apx. another $25-30 off me if I would've allowed it, again, because I buy in volume. I'd bet an ASE he wasn't doing it to the people coming in only buying 1 or 2 oz's, not worth it, but he does it to me to squeeze $25.
I'll end up going back after a cooling off period, and this just gave me ammo to "negotiate" the next deal. >>

roadrunner · September 16, 2014 1:54PM

The price of silver, and especially the price of specific silver products set by merchants varies by more than just the spot price. Silver is also in the process of moving above the 2 week downtrend. You may find the premiums increasing a lot more than the additional 18c already offered. Silver had a 28 cent trading range today. Why should your local dealer by at the whims of the LBMA/Comex paper silver pushers? He's selling the real metal with actual delivery. If you want spot-like, "paper" pricing and efficiency buy a silver futures contract or some SLV shares.

Timbuk3 · September 17, 2014 5:44AM

Happens all the time !!!

TwoSides2aCoin · September 17, 2014 8:18AM

Thanks Bronco… lesson learned.

bronco2078 · September 17, 2014 8:53AM

<< Thanks Bronco… lesson learned. >>

casino tokens are a gateway to the ugly side of the metals business.

2 or 3 years down the line you will see them buying giant silver quarters , sacks of 10% silver pesos , glow in the dark colorized canadian coins

this is where they wind up

perkdog · September 18, 2014 11:51PM

Dont feel too bad Rich, the Fella in my area who runs a nicel lil B&M likes to scalp people for Spot + $3.75

Thats just his Silver Rounds and bars, he has some near cull Morgans that is in his case with cobwebs on them for a paltry $40 a piece

shorecoll · September 19, 2014 1:20AM

Go back today, spot plus $1.25 is still cheaper than you would have paid on Tuesday.

Pokermandude · September 19, 2014 1:50AM

It's probably spot +1.50 now

Which still is not a bad price at all for a B&M over the counter cash deal.

Some dealers have lost their mind

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