Sold some PM today
MoneyCollector
Posts: 451 ✭✭✭
Silver shot up so much I thought I'd test out selling some. Only sold a 10oz. bar and 4 SAE and 2 broken 14K necklaces my wife had. Went to Dallas Gold & Silver Exchange.
They REALLY haircut the necklaces - at $1,420 gold it worked out to $638 but they only offered $390. Found out they pay $1.20 less for colorized SAE (I had 4) so I brought them home to acetone.
Seemed like a lot of sellers when I showed up but silver is up so much today it makes sense! We have a few shows here in November so if silver pulls back I'll reinvest.
Does anybody know how they hedge themselves - they don't take price risk do they? Do they lock in prices with the next guy up the line?
Randy
They REALLY haircut the necklaces - at $1,420 gold it worked out to $638 but they only offered $390. Found out they pay $1.20 less for colorized SAE (I had 4) so I brought them home to acetone.
Seemed like a lot of sellers when I showed up but silver is up so much today it makes sense! We have a few shows here in November so if silver pulls back I'll reinvest.
Does anybody know how they hedge themselves - they don't take price risk do they? Do they lock in prices with the next guy up the line?
Randy
0
Comments
Call their supplier and place a buy/or/sell order for what ever a customer bought/sold.
The other way is to go long / short with options thru their broker.
I am sure that both are on speed dial.
Keep on stack'n!
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Silver is the mortar that binds the bricks of loyalty.
<< <i>Found out they pay $1.20 less for colorized SAE (I had 4) so I brought them home to acetone.
Randy >>
Wait. Dealers pay less for colorized SAEs? I can't believe that. After all, they're still an ounce of silver, right?
--Severian the Lame
<< <i>
<< <i>Found out they pay $1.20 less for colorized SAE (I had 4) so I brought them home to acetone.
Randy >>
Wait. Dealers pay less for colorized SAEs? I can't believe that. After all, they're still an ounce of silver, right?
Yea, I know - we've argued this many times. I brought them b/c I wanted to see what the real answer was. Now at least I know what I can get for them but others may have more luck than me. Dang things are ugly!!
Randy
<< <i>...... Dang things are ugly!! >>
Indeed, butt ugly. Especially considering how very lovely the coin itself is. It's rather like forcing a centerfold model to wear a Bozo costume instead of her birthday suit with the intention of enhancing her appeal.
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I sold some stuff today too. Then turned around and made purchases on the BST for smaller silver that I liked better. I just love all the activity in the PMs. Exciting times for aurum and argentum as well as those who love them.