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dealers buy prices gold

greatnortherncoingreatnortherncoin Posts: 412
in Precious Metals
how much back from spot is your dealer paying for gold
dont send sheep to kill a wolf...

Comments

  • dimplesdimples Posts: 1,286 ✭✭✭
    Sold some gold jewelry at my local coin dealer last Saturday at 20% back which I thought was fair. I know know the clasps were not gold and he sells to the refinery at 95% After they get done assaying the hell out of it He'll make 10%.
  • mrcoin3mrcoin3 Posts: 384


    << <i>Sold some gold jewelry at my local coin dealer last Saturday at 20% back which I thought was fair. I know know the clasps were not gold and he sells to the refinery at 95% After they get done assaying the hell out of it He'll make 10%. >>


    20 back? Heck, I'll give ya 15% back
    successful BST deals with Meltdown, Broadstruck, lordmarcovan, MisterTicToc, JINX86, BXBOY143, MBCOINS and others
  • dimplesdimples Posts: 1,286 ✭✭✭
    I used to sell to midwest refinery at 95% but after assay the yield was always about 17-18% back of spot. They told me just because it's stamped 14K some chains and jewelry assay out to only 12 -13K. This is jewelry that my mother bought from many trips over seas on vacation. I believe they are probably right. So when you look at the final results it's easier to sell locally.

    Anyone also see this using Midwest Refineries?
  • greatnortherncoingreatnortherncoin Posts: 412
    so 90% of spot is fair
    dont send sheep to kill a wolf...
  • morgansforevermorgansforever Posts: 8,461 ✭✭✭✭✭
    Hit a local B&M today, and had my brother walk in
    and say what's it worth, with a 1 oz. AGE. $950 was his best
    price. Same ol crap he told me, bring in more and the price
    goes up, the volitility of gold, rent, advertising, etc.
    Wish I could buy gold for 46% back of spot, geez.
    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • FullCameoFullCameo Posts: 492


    << <i>I used to sell to midwest refinery at 95% but after assay the yield was always about 17-18% back of spot. They told me just because it's stamped 14K some chains and jewelry assay out to only 12 -13K. This is jewelry that my mother bought from many trips over seas on vacation. I believe they are probably right. So when you look at the final results it's easier to sell locally.

    Anyone also see this using Midwest Refineries? >>



    They are no different than a scrap yard. They will do/say anything for an extra buck.
  • CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭
    My local BM I use pays $50 back of spot on an ounce and sometimes spot for American Gold Eagles when he's out.
    Positive BST transactions: agentjim007, cohodk, CharlieC, Chrischampeon, DRG, 3 x delistamps, djdilliodon, gmherps13, jmski52, Meltdown, Mesquite, 2 x nibanny, themaster, 2 x segoja, Timbuk3, ve3rules, jom, Blackhawk, hchcoin, Relaxn, pitboss, blu62vette, Jfoot13, Jinx86, jfoot13,Ronb

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  • BigRickBigRick Posts: 1,334
    Depends on what you are calling gold.

    1 oz AE's? maybe $10-$20 back of spot. Jewelry? maybe 10-20% depending on the purity.
    My Sets
  • SilverBaronSilverBaron Posts: 767 ✭
    ...... 1 oz. AGE. $950 was his best price. .....

    WOW ......... I would never go back, and would sure let folks know not to

    do biz with this guy!!!
    Silver Baron
    ********************
    Silver is the mortar that binds the bricks of loyalty.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    959 for an oz if gold? Your local store needs a competitor. The one I went to before I moved paid spot + 10-25 for eagles and charged spot +50+.
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    One of my local shops pays me about $15-$30 over spot for AGE's. But I also have some vest pocket types that will give me more. One of those VP's pays
    90-94% of spot for decent scrap jewelry. Then he sells it to his refiner for 98% of whatever it assays at.

    Most of the B&M's probably pay around 80-87% for scrap jewelry. The pawns and local jewelry chain stores offer 15-20% of spot as a rule. They have high overhead...lol.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • morgansforevermorgansforever Posts: 8,461 ✭✭✭✭✭
    <<1 oz. AGE. $950 was his best price>>

    I was just testing the waters using my brother. I'm fully aware of costs ie rent, insurance, inventory, advertising, etc, but
    give me a break. Never really cared for him after his smug comment years ago, "They think I'm paying them, they're actually paying me".
    Just something about his slick ways makes me want to drill em in the mouth, ya feel me?
    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
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