Ive only once offered bullion as payment once. I traded a few Silver Eagles for a 235ci inline 6 for my 1951 Master Deluxe. The guy loved the idea since he was thinking he should start buying some bullion.
1. yes 2. depends on physical form of the metal. I would normally place a value at spot since either he or I would face the expense of converting it to cash.
Business is cashing out, for a lot of people. That's the way many folks stay off the grid (not paying their bills). They demand cash for gold to settle their debts all public and private. Enter the FRN.
I accept it at spot.....I have offered it twice, and both times it was refused..... People unfamiliar with precious metals or coins are very reluctant to deal in that medium. Cheers, RickO
I would probably accept gold but not silver, but at a discount from spot. Just how big the discount would be would depend on just what kind of bullion gold it was (I would NOT accept any that had a numismatic premium attached), how unsettled the metals market was, and the amount, less any expenses relating to its disposal, I could get for it in cash, quickly.
I think allowing "melt" is too generous. If I can't pay bills with it it will be discounted.
I remember that story when it was on the local news (I live in the San Diego area). The ignorance of vast swaths of the American public never ceases to amaze. And just think, their vote counts just as much as yours or mine...
My plumber insists on being paid in 90% once we talked about metals and he found out I was a metals guy too. Whatever his bill works out to be, I pay in 90% face based on the formula of Spot - $1 x .715 and he's good with that everytime.
For the couple times a year I need his services, it works out good for both of us.
To forgive is to free a prisoner, and to discover that prisoner was you.
I remember that story when it was on the local news (I live in the San Diego area). The ignorance of vast swaths of the American public never ceases to amaze. And just think, their vote counts just as much as yours or mine...
Don't even get me started lol
To forgive is to free a prisoner, and to discover that prisoner was you.
If I were needing to use the money for something like a debt or buying something as soon as I got the money then no. If I weren't in a hurry to cash it out or can hold long term then yes at spot. For silver I might go 5% under. American Platinum Eagle, then absolutely yes at spot and then flip on eBay or find a local B&M dealer willing to pay a small premium which probably wouldn't happen.
I have paid tabs at my bars with silver and silver coin, as well as tips. These are long time bartenders though so they know the values and aren't the 'what is this junk' types.
For at leat 7 years I have offered a variety of vendors a choice of gold, silver or Federal Reserve Units for a discount. Never had anyone take gold or silver. Most take FRN's for discounts between 5-50%
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But that said I settled debts in E. Europe easily with yellow metal.
2. depends on physical form of the metal. I would normally place a value at spot since either he or I would face the expense of converting it to cash.
Give Me Liberty or Give Me Debt
I think allowing "melt" is too generous. If I can't pay bills with it it will be discounted.
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I remember that story when it was on the local news (I live in the San Diego area). The ignorance of vast swaths of the American public never ceases to amaze. And just think, their vote counts just as much as yours or mine...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
For the couple times a year I need his services, it works out good for both of us.
I remember that story when it was on the local news (I live in the San Diego area). The ignorance of vast swaths of the American public never ceases to amaze. And just think, their vote counts just as much as yours or mine...
Don't even get me started lol
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Only seasoned firewood or live chickens.
Liberty: Parent of Science & Industry
Here's a warning parable for coin collectors...
I have paid tabs at my bars with silver and silver coin, as well as tips. These are long time bartenders though so they know the values and aren't the 'what is this junk' types.
I knew it would happen.
Otherwise, I'd tell them to cash it in themselves and pay me cash.
I don't want that paper crap.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Yes and once confirmed genuine I'd value it at melt or slightly less for generic bullion.
Yep. If you can't sell it locally for more than melt or spot, then you shouldn't offer more than that for it.
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2. Spot
For at leat 7 years I have offered a variety of vendors a choice of gold, silver or Federal Reserve Units for a discount. Never had anyone take gold or silver. Most take FRN's for discounts between 5-50%
I don't take rocks or metals in trade or debt payment.
Only seasoned firewood or live chickens.
I took 1000 BF of curly maple lumber for a cash debt once.
The only monster box of SAE's I've ever owned was part payment on a business debt.
I would (and did) value it at spot.