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Went back to the B&M where they were smoking inside...

mrpaseomrpaseo Posts: 4,753 ✭✭✭
in Precious Metals
I talked to the owner this time. Asked what he was selling the ASEs for, he quickly quoted me $35. I'm sure he saw the surprise in my face to whit he replied that he goes of APMEX prices. He then used his iPAD to pull up the APMEX site and show me in fact that they are selling ASEs at $35 and change. He then said that he charges the same for all ASEs that he has rather than a higher premium for later years. I mentioned $10 over spot seems excessive and I asked what the cost of a roll would be. He got tied up with another customer and didn't end up quoting me. At one point he did say, "What are you looking for, $28 each". I did not take offense with the way he said it but it was clear he wanted $35 an oz.

We talked for a few minutes and he invited me to come back just to hang around and learn. hmmmm... Opportunity? I will take him up on the offer. I am planning on spending a few hours per week and maybe I'll buy an ASE with each visit to give him a bit of business.

On the down side, when I got home I looked up APMEX prices and they are selling the 2013 ASE's for $31 and change so what he did was go to one of the higher years and is using that price to set his prices... A new twist so he can push the blame of higher prices onto someone elses shoulders... maybe.

The way I see it, $35 for an oz of silver and a few hours of education... might be worth it.

Input welcomed.

Ray

Comments

  • mariner67mariner67 Posts: 2,746 ✭✭✭
    $10 over spot for ASEs, using unscrupulous methods to price, smokng indoors....
    Pass.
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • KUCHKUCH Posts: 1,186
    I do smoke on occasion, so I like your B&M. Apmex has stateded prices, and they do charge shipping costs. My last small order was charged

    24.95 for shipping. So, don't forget to include that in your comparison.

    I've realized , you get what you pay for!!!!!!

    Keep stacking.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    Building relationships is often more valuable than saving a few dollars. The former can earn you way more in the long run than the latter ever could in the short run. The education is key.
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  • guitarwesguitarwes Posts: 9,266 ✭✭✭
    He might be selling at what his replacement cost + shipping + profit may be.

    Right now, at $35, I'll pass everyday and twice on Sunday. Plus, I wouldn't risk the chance of lung cancer from visiting that shop........
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
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  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Talked to a dealer friend last night who said he was aware of a few monster boxes that just got traded between dealers at spot +$6. That means the retail customer
    pays more than that.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I would pass for the most part... but an investment (limited) in a relationship could pay off down the road. In this specific case, with the details you provided, I am not sure it would pay off... he seems hard set and slightly devious. Cheers, RickO
  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    Ray,
    I can go into a local shop and buy a SAE today for spot +$6.50 with no
    grief.

    That dealer is overcharging because he wants to or has to because of poor
    supply connections.

    I can only imagine the other stuff going on that you are not aware

    Run, Forest, Run.
    Have a nice day
  • joefrojoefro Posts: 1,872 ✭✭
    When you walk into a LCS and get quoted a ridiculous price for silver, the thing you should do is turn around and ask them what they are BUYING them for. He knows he'll look like a chump telling you he is buying ASEs at $25 and selling them at $35. That way, if he quotes you something like $30 you dump your rolls on the counter and say "cash please" image

    Seriously, put him on the spot.
    Lincoln Cent & Libertad Collector
  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭


    << <i>When you walk into a LCS and get quoted a ridiculous price for silver, the thing you should do is turn around and ask them what they are BUYING them for. He knows he'll look like a chump telling you he is buying ASEs at $25 and selling them at $35. That way, if he quotes you something like $30 you dump your rolls on the counter and say "cash please" image

    Seriously, put him on the spot. >>



    I like this strategy. You'll find out real quick what kind of dealer he is.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    It's funny to imagine having this same conversation about prices in a retail jewelry store, or a bookstore, or a coffee shop, or anywhere with overhead and goods and services provided there and then.

    Liberty: Parent of Science & Industry

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  • bronco2078bronco2078 Posts: 10,227 ✭✭✭✭✭


    << <i>When you walk into a LCS and get quoted a ridiculous price for silver, the thing you should do is turn around and ask them what they are BUYING them for. He knows he'll look like a chump telling you he is buying ASEs at $25 and selling them at $35. That way, if he quotes you something like $30 you dump your rolls on the counter and say "cash please" image

    Seriously, put him on the spot. >>




    I think this is a terrible idea. If you don't know the dealer you can't expect to get the best prices on either end when you just drop by. When you put a dealer on the spot you are just burning bridges that you might need some day.


    Putting people on the spot is only okay if you are never going back there. There are not a limitless number of coin shops and if you are patient you can get good prices at all of them. If you go in and annoy them then you will run out of local places to buy pretty quick.













  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭


    << <i>It's funny to imagine having this same conversation about prices in a retail jewelry store, or a bookstore, or a coffee shop, or anywhere with overhead and goods and services provided there and then. >>



    Bad comparison. Coin shops buy from coin collectors all the time while the examples you gave seldom buy their stock from their customers.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

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