What is your B&M spread?

mrpaseo

The one B&M I visited this past week told me they sell at SPOT +3% and sell at SPOT -3%.

Is this the norm?

Ray

Baley

Is that for all forms and all metals? or is that the "scrap" rate for bullion, and some forms go for more (Proof ASE's and AGE's, rarer old poured bars, etc) and some forms go for less, maybe far less (silverware, picture frames, broken jewelry)?

mrpaseo

Good point, that was quoted for 90% silver and ASEs.

KUCH

local B&M buys 1oz gold bullion at $20 over spot

They sell at $80 over spot.

KUCH

As a side note, I've noticed more "We Buy Gold and Silver" business starting up in our area.

jmski52

Ray, I think you'll find that most dealers' buy & sell spreads will vary with the market conditions to a degree, and with their own inventories & cash positions at various times of the year. It's going to be different in a hot market than in a slow one, and so on...

mrpaseo

<< <i>Ray, I think you'll find that most dealers' buy & sell spreads will vary with the market conditions to a degree, and with their own inventories & cash positions at various times of the year. It's going to be different in a hot market than in a slow one, and so on... >>




Great info, thank you.

streeter

Kuch's gold dealer range ....+/- 4%

Ray's silver dealer........+/- 6%



For the life of me I do not understand how a B&M can pay the rent & lights and insurance with that narrow of range. Is there something I'm missing?

Baley

<< <i>Kuch's gold dealer range ....+/- 4%

Ray's silver dealer........+/- 6%



For the life of me I do not understand how a B&M can pay the rent & lights and insurance with that narrow of range. Is there something I'm missing? >>



what you're missing is that those are the "savvy traders" rates, quoted for guys that know what they're doing buying and selling metal....

the rent is paid via the "widows and orphans" rate, which has a significantly larger spread

AUandAG

the rent is paid via the "widows and orphans" rate, which has a significantly larger spread >>




I'm in a retirement community of 7,000 homes. We have one B&M here. I took several original, bank
wrapped, Roosevelt dime rolls for a quote. Selling on Ebay for $180. I was offered $120/roll. Didn't
matter the date or end roll toning. That's a big margin in my book. But, he's got rent to pay and
lights and security and such. I did not sell.
Well, I did sell, here on the BST at $150 a roll. Took all of three minutes to sell.

bob

Spooly

For the life of me I do not understand how a B&M can pay the rent & lights and insurance with that narrow of range. Is there something I'm missing?


You have to buy them dirt cheap to make any money. I don't see how dealers make a living selling coins. Just traveling to coin shows would cost a small mint over a year.

streeter

<< <i>

<< <i>Kuch's gold dealer range ....+/- 4%

Ray's silver dealer........+/- 6%



For the life of me I do not understand how a B&M can pay the rent & lights and insurance with that narrow of range. Is there something I'm missing? >>



what you're missing is that those are the "savvy traders" rates, quoted for guys that know what they're doing buying and selling metal....

the rent is paid via the "widows and orphans" rate, which has a significantly larger spread >>





Baley , FWIW I was born at night it just wasn't last night. My first ad was in CW in 1962.

Coops in Redlands, one of my all time favorite coin dealers, posts his buy/sell electronically for all the widows and orphans to see. You might see a little movement on sums above 50k but the widow and orphans get the same money each way over the counter as MR. Bigshot.

I've seen dealers lowball customers...those are the dealers I get my bulk purchases from.

ArizonaJack

My local B&M on ASE's is spot + $3 / spot

Wingsrule

I wonder if anyone has read the original post closely?

I want to be there on the day this dealer sells at spot -3%

mikeyg

Hell I'm a buyer at spot +3% .Most online dealers charge spot plus 10%.Thats the famous $2.49 over spot for SAEs.Trying to buy a britannia or libertad will cost 20-30%over spot.Pandas are just about 40% over spot.Forget about e bay.Some of those guys want $39 for an eagle.

NumbersUsacom

My go to B&M has maintained spot + $1.25 he gets in some really cool bars and rounds at times. Does a lot of business.

Baley

<< <i>I wonder if anyone has read the original post closely?

I want to be there on the day this dealer sells at spot -3%

>>



we just assumed he meant buys at -3% [sic]

Thats the famous $2.49 over spot for SAEs.Trying to buy a britannia or libertad will cost 20-30%over spot.Pandas are just about 40% over spot.Forget about e bay.Some of those guys want $39 for an eagle.

that's the "collector" rate for singles, right? none of that stuff is ever issued, wholesaled, or retailed, even in bulk, at "spot"