Stopped in at a " WE buy gold " store......spent some $$$

ArizonaJack

Stopped in at a local WBG store, they are popping up everywhere these days.

I " offered " them a 14K 20 gram cold chain and they offered $16 a gram, LOL LOL LOL. Then, I asked what they had for sale..........

I purchased 7 various date ASE's at spot ( $27 and small change )......not too shabby

Justlooking

There's the business model. Buy on the cheap, sell at spot.

Timbuk3

Nice purchases !!!!

devious

Not too bad, and then again, their offer was fairly reasonable considering.

Broadstruck

<< <i>I " offered " them a 14K 20 gram cold chain and they offered $16 a gram >>



AJ, What's this "cold" stuff they are paying $16 a gram for

CoinMiner1

Interesting…

The ones in the mall (national kiosk) could only tell me there was no way, no how, they could ever SELL anything. I suppose they were right!

There are a few stand alone ‘we buy gold’ store fronts in my area, mostly owned by two different gents.

The counter help would NOT sell me silver (I offered spot) and suggested I call their boss; so I did.

Both of them said they had outlets for silver coinage. I told them I could beat their prices (the refiners are paying up 98-99% melt, and of course the middle wholsaler take couple points – I offered full spot, cash, instant.

They both demurred, but both IMMEDIATELY asked if I would buy the silverware, candlesticks etc.

Sounds to me that their wholesaler won’t play unless they get the 90% along with the silverware and s©rap.

Couple towns over the guy loves to sell to me for full melt. He has the redbook, Krause guide, etc – but doesn’t know the varieties = symbiotic relationship.

cheezhed

<< <i>I " offered " them a 14K 20 gram cold chain and they offered $16 a gram, LOL LOL LOL. >>



What would have been a fair offer?

halfcentman

Living in Central NJ, I am inundated with these stores, but I have a nice relationship with 2-3 of them who are very close to me.

$16.00/gram ($24.88/dwt) for 14K is not great, but not as hideous as many.

Although I do not do a ton of business with these guys, it's worked out well and civil. I do not get into the morals of them ripping people off. As a matter of fact, the more these places advertise the more money I make.

johnny9434

<< <i>Nice purchases !!!! >>

ya did good