Fair is fair. The prices of a commodity change daily. Each coin stands on it's own merit. Some would argue that there should be a FIXED PRICE which is fair, but that's not fair, either. The irony made me laugh because a GOOD deal can be had anywhere but unless it's "IN HAND" it's always speculative... , and should be. For a dealer to warn others isn't a bad thing, but it's better to say "shop around and find your best deal, then let me see if I can beat it". The formula never changes, but attitudes may.
<< <i>Customer: I have $400 in silver for sale, how much are you paying?
Dealer: $15.50 per dollar
Customer: A guy on Craigslist is offering $21.00 per dollar?
Dealer: Be careful! People on Craigslist are crooks!
>>
they busted some guy a few towns over from here that was selling morgans for $21 apiece. the dummy came back to sell more and thats when they arrested him. this was about a year and a half ago
<< <i>Sorry, failing to see a scam anywhere. Guy on CL is most probably trying to buy it at some price less than retail. The dealer could not pay his rent with that margin. >>
If the dealer cannot pay his rent on 30% bullion margin, they need to find another business to run. Any reputable shop I've run into has no problem working on 10% or less. I don't see a problem if they are working on 30% margin for truly numismatic coins. I've never understood the argument that a dealer with poor business skills, or just being extremely lazy is a reason for them to be totally uncompetitive. Ideally, the market should drive these guys out of business. But, we know that isn't the case from the proliferation of hotel buyers and $cash4gold scammers that have popped up everywhere.
Frankly, assigning the term of low balling parasite to the op's dealer might be an insult to other well-intentioned parasites.
<< <i>Ideally, the market should drive these guys out of business. But, we know that isn't the case from the proliferation of hotel buyers and $cash4gold scammers that have popped up everywhere. >>
The market would drive them out of business if sellers cared enough to make an effort to maximize the price they get for their coins. That many don't would seem to indicate that these sellers are getting something aside from money that makes the deal agreeable to them.
<< <i>Melt on 90% silver 10c, 25c, and 50c coins is 20.45 x face. Very worn culls are worth less, obviously.
I have bought and sold on Craigs including some silver last week. I did a $19,000 gold sale at the buyers bank last year and got a cashier's check from him to me.
I have met other buyers and sellers in bank lobbies, at bookstores and at libraries. >>
Using Friday's Kitco close of $28.30 silver, and the industry standard of 715 ounces of silver in a $1,000 bag of average circulated U.S. 90% silver (not BU, which would be 722+ ounces, and not culls, which would be about 7% less), a bag melts at $20,234.50.
The offer quoted is low, but not outrageous.
Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Also won the PNG's Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
B1908 - you're the tail wagging the dog. "Silver is a commodity, and it has a market price. The distinction should not be difficult to understand." So since this is your principle, you'll pay me exactly the same price for an ounce of .999 silver that is a government issued coin as you would for a sterling silver fork that has 1 ounce of pure silver contained. After all you insist that silver is a commodity with a standardized commodity price. If you don't, you're a predatory parasite.
<< <i>Yup. Your local dealer already demonstrated to you who the crook was >>
Obviously, the dealer that was offered $400 face of 90% could offer quite a bit more and work "close".
However, what forum members have to realize is - he has a B&M business, has many expenses, may have "holding risk" - where his local town may require a 5-15 day hold, etc. These expenses aren't cheap. He has to work on at least a 20% margin to make it "worth it".
It's funny - with coins..... every dealer is a crook if the collector doesnt get "98%" of face on thier bullion - but when you call a handyman, tradesman, etc, you are quoted astronomical figures "by the job" to do relatively simple tasks........(haha - how about $1300 for a water heater install!! like that is not overpriced!!!) no one seems to complain.
It's a business, it's not a collector you are dealing with - there is a profit motive. If the 90% doesn't get sold to another dealer or collector - most of those guys melt it at refiners and accept 90% of melt - that's right - 90%!!!!! So - in that scenario, to make a profit, how in the world would you get more than 80%?
BTW - the original question should be edited to add "and the dealer also gets stuck buying a 100 clad proof sets in order to secure the lot of 90%". That's a more normal scenario.
<< <i>The dealer who offers 15X for silver when he should be offering 20x or more does not really want to buy it, and most likely does not buy very much of it. >>
Wrong. I know guys that pay 15x and get lots of it, as unlikely as it sounds.
No smaller dealer with overhead will offer spot on 90% - if they do - they either have customers that are paying well above spot...and are operating with extreme volume (and that isnt $400 face - try several thousand face per week or more).
It could have been four hundred dollars face in dateless standing liberty quarters, barber dimes and mercury dimes that only weighed 70% of US MINT struck pieces. To quote a price and get a product in hand are two different things. The last time I sold silver coins to a dealer, the first thing disclosed was, " Oh, there are 80 slicks in there" The prices are adjusted accordingly. That's why a thousand dollar bag of 90% has to weigh 55 pounds. It may have more than $1000.00 face value in it. Look at this from every angle and perspective. It's a free education.
The general formula provides for 715 oz pure per $1,000 bag of 90%.
Most large volume dealers sell $1,000 bags of 90% for Spot + $2.00 over per oz.
Believe me, i've been at local B&M's when collectors come in and b&tch when they have to pay more than SPOT for 90%. How much do they want? Generally less than $20 face. They NEVER have any real cash on them to buy quanitites. And the best is when they pull out a debit or credit card.....haha!!!!!!!!!
The best bet is for those involved in this area is to get educated. Dealers don't sit in that B&M shop for NOTHING. Do you work for NOTHING? I don't think so.
Once you realize this - you either buy/sell..... or you don't - your choice - but at least you have a full understanding of the business model.
<< <i>When a dealer says that he wants to buy at $15/oz, he's claiming his position on the supply and demand graph. And you know what? The owner of the silver doesn't have to sell it at $15/oz. He can go home and sit on it. This is basic econ 101. >>
I don't think you paid attention in econ 101. There is an equilibrium price for commodities. Everyone selling commodities is considered to be a price taker, at the market price.
What you're describing is a market inefficiency, i.e., predatory behavior by the dealer in offering below the market price. This is not free market economics no matter how much you want to bluster about it. >>
Sorry to burst your bubble, but it is.
I never thought I'd live to see the day someone equated "market inefficiency" with "predatory behavior," but hey... why not? As long as we're saying that a market equilibrium is the only price you can buy/sell something for (which clearly, econ 101 denies, but hey, I didn't listen up in econ 101, did I, now...) I guess anything should fly, right?
<< <i>When a dealer says that he wants to buy at $15/oz, he's claiming his position on the supply and demand graph. And you know what? The owner of the silver doesn't have to sell it at $15/oz. He can go home and sit on it. This is basic econ 101. >>
I don't think you paid attention in econ 101. There is an equilibrium price for commodities. Everyone selling commodities is considered to be a price taker, at the market price.
What you're describing is a market inefficiency, i.e., predatory behavior by the dealer in offering below the market price. This is not free market economics no matter how much you want to bluster about it. >>
Sorry to burst your bubble, but it is.
I never thought I'd live to see the day someone equated "market inefficiency" with "predatory behavior," but hey... why not? As long as we're saying that a market equilibrium is the only price you can buy/sell something for (which clearly, econ 101 denies, but hey, I didn't listen up in econ 101, did I, now...) I guess anything should fly, right? >>
I'm just about finished trying to cure the economic illiteracy and cracker barrel wisdom in this thread. I went to the London School of Economics, no brag, but, I doubt I have anything to learn from you regarding economics.
one last thought: presumably the shop owner is remitting all proper taxes while the Craigslist fellow is not.......Does this make you want to rethink who gets labeled as a 'crook' or a 'parasite'?
<< <i>one last thought: presumably the shop owner is remitting all proper taxes while the Craigslist fellow is not.......Does this make you want to rethink who gets labeled as a 'crook' or a 'parasite'? >>
If you are going to drag paying taxes into the equation then the parasite becomes the government.
"I'm just about finished trying to cure the economic illiteracy and cracker barrel wisdom in this thread. I went to the London School of Economics, no brag, but, I doubt I have anything to learn from you regarding economics."
L.S.E. ? RLY? I thought all along that you may have been a classmate of Barry Soetoro at Harvard.
>>Customer: I have $400 in silver for sale, how much are you paying?
Dealer: $15.50 per dollar
Customer: A guy on Craigslist is offering $21.00 per dollar?
Dealer: Be careful! People on Craigslist might kill you>>
Regardless of what you think of his (her?) offer, the fact remains that conducting transactions in the comfort of a safe B&M does offer some protection >>
Man accused of raping 25 women met through CraigsList:
Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Also won the PNG's Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
>>Customer: I have $400 in silver for sale, how much are you paying?
Dealer: $15.50 per dollar
Customer: A guy on Craigslist is offering $21.00 per dollar?
Dealer: Be careful! People on Craigslist might kill you>>
Regardless of what you think of his (her?) offer, the fact remains that conducting transactions in the comfort of a safe B&M does offer some protection >>
Man accused of raping 25 women met through CraigsList:
What's your point? How many gunmen have robbed coin shops? How many coin dealers have been killed during the commission of a robbery? Let's face it---it's a dangerous world out there. That's why any transaction with a stranger should be conducted in a very public location---local bank or even a police station nfor example.
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
<< <i>How dangerous is a Craig's List transaction if it's conducted at your bank or some other very public location? >>
Do you want strangers in your town or a nearby town to know that you collect and/or buy coins? There is a risk of someone following you and robbing you. Even if they don't follow you immediately, what are the odds that you could run into each other on another day when you are not expecting to be followed and robbed? They are too high for me; no thanks. Place the coins on eBay and conduct the transactions by mail through a P.O. Box. >>
This is just plain silly. What's to prevent someone from following you home from a coin show or from your local coin shop?
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
>>Customer: I have $400 in silver for sale, how much are you paying?
Dealer: $15.50 per dollar
Customer: A guy on Craigslist is offering $21.00 per dollar?
Dealer: Be careful! People on Craigslist might kill you>>
Regardless of what you think of his (her?) offer, the fact remains that conducting transactions in the comfort of a safe B&M does offer some protection >>
Man accused of raping 25 women met through CraigsList:
What's your point? How many gunmen have robbed coin shops? How many coin dealers have been killed during the commission of a robbery? Let's face it---it's a dangerous world out there. That's why any transaction with a stranger should be conducted in a very public location---local bank or even a police station nfor example. >>
The point is that mixing money and strangers can be dangerous.
Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Also won the PNG's Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
I never fail to be amused by threads like these. I really liked the comment about how ALL dealers should pay spot for 90 or else they're...what was it...parasites? This usually comes from the same crowd who thinks all dealers should sell at spot too, or at the most a few cents over. And when their favorite local guy goes under (assuming he's stupid enough to have followed their idea of what should be the ideal business model), these same folks- these economic masterminds- can't figure out why he couldn't make it work on a "fair" pennies on the dollar profit margin.
Then they wonder where they're going to go now to hang out/get free opinions on their coins/jabber about things they have, had, or bought elsewhere/ cherrypick deals/ pick up supplies in a pinch/ blow off their unwanted crapola...
<< <i>I never fail to be amused by threads like these. I really liked the comment about how ALL dealers should pay spot for 90 or else they're...what was it...parasites? This usually comes from the same crowd who thinks all dealers should sell at spot too, or at the most a few cents over. And when their favorite local guy goes under (assuming he's stupid enough to have followed their idea of what should be the ideal business model), these same folks- these economic masterminds- can't figure out why he couldn't make it work on a "fair" pennies on the dollar profit margin.
Then they wonder where they're going to go now to hang out/get free opinions on their coins/jabber about things they have, had, or bought elsewhere/ cherrypick deals/ pick up supplies in a pinch/ blow off their unwanted crapola...
>>
And if the buyer pays 98% and then silver drops 3%, like it did today, well, he just makes it up in volume!
Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Also won the PNG's Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
<< <i>Then they wonder where they're going to go now to hang out/get free opinions on their coins/jabber about things they have, had, or bought elsewhere/ cherrypick deals/ pick up supplies in a pinch/ blow off their unwanted crapola...
>>
They could always open their own stores, couldn't they? I mean- they sure appear to be experts on how to run one.
<< <i>The point is that mixing money and strangers can be dangerous. >>
With all due respect, Cap't that story was about a rapist who solicited prostitutes ... I'm not saying the girls were asking for it, but I don't think it's a fair comparison. Crime is everywhere even the "good" neighborhoods. I've had plenty of safe transactions on Craigslist it has nothing to do with the website. It has to do with common sense, and one's ability to weed out sketchy folks from the normal folks. Last week I sold a case on Craigslist to a complete stranger. I met him at a gas station, parked right up front near the store entrance and waited for him on the sidewalk outside the doors. He walked up, we did our business, and that was that. I had plenty of time to look him over, as he approached, in case something was off. But since I had already emailed a few times and spoken on the phone with him, I already felt good about him. But I still had a weapon in my pocket just in case. But I never needed it and we ended up laughing and shaking hands a few times before parting ways. Plenty of good-natured people on Craigslist. Just like not all B&M dealers are vultures
Comments
The irony made me laugh because a GOOD deal can be had anywhere but unless it's "IN HAND" it's always speculative... , and should be. For a dealer to warn others isn't a bad thing, but it's better to say "shop around and find your best deal, then let me see if I can beat it". The formula never changes, but attitudes may.
``https://ebay.us/m/KxolR5
<< <i>There is a market price for silver set on commodity exchanges. >>
The exchanges don't set prices. The prices they report are based on thousands of independent transactions.
<< <i>Customer: I have $400 in silver for sale, how much are you paying?
Dealer: $15.50 per dollar
Customer: A guy on Craigslist is offering $21.00 per dollar?
Dealer: Be careful! People on Craigslist are crooks!
they busted some guy a few towns over from here that was selling morgans for $21 apiece. the dummy came back to sell more and thats when they arrested him. this was about a year and a half ago
<< <i>Sorry, failing to see a scam anywhere. Guy on CL is most probably trying to buy it at some price less than retail. The dealer could not pay his rent with that margin. >>
If the dealer cannot pay his rent on 30% bullion margin, they need to find another business to run. Any reputable shop I've run into has no problem working on 10% or less.
I don't see a problem if they are working on 30% margin for truly numismatic coins. I've never understood the argument that a dealer with poor business skills, or just being
extremely lazy is a reason for them to be totally uncompetitive. Ideally, the market should drive these guys out of business. But, we know that isn't the case from the proliferation
of hotel buyers and $cash4gold scammers that have popped up everywhere.
Frankly, assigning the term of low balling parasite to the op's dealer might be an insult to other well-intentioned parasites.
<< <i>Ideally, the market should drive these guys out of business. But, we know that isn't the case from the proliferation of hotel buyers and $cash4gold scammers that have popped up everywhere. >>
The market would drive them out of business if sellers cared enough to make an effort to maximize the price they get for their coins. That many don't would seem to indicate that these sellers are getting something aside from money that makes the deal agreeable to them.
<< <i>Melt on 90% silver 10c, 25c, and 50c coins is 20.45 x face.
Very worn culls are worth less, obviously.
I have bought and sold on Craigs including some silver last week. I did a $19,000 gold sale
at the buyers bank last year and got a cashier's check from him to me.
I have met other buyers and sellers in bank lobbies, at bookstores and at libraries. >>
Using Friday's Kitco close of $28.30 silver, and the industry standard of 715 ounces of silver in a $1,000 bag of average circulated U.S. 90% silver (not BU, which would be 722+ ounces, and not culls, which would be about 7% less), a bag melts at $20,234.50.
The offer quoted is low, but not outrageous.
So since this is your principle, you'll pay me exactly the same price for an ounce of .999 silver that is a government issued coin as you would for a sterling silver fork that has 1 ounce of pure silver contained. After all you insist that silver is a commodity with a standardized commodity price. If you don't, you're a predatory parasite.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>Yup. Your local dealer already demonstrated to you who the crook was >>
Obviously, the dealer that was offered $400 face of 90% could offer quite a bit more and work "close".
However, what forum members have to realize is - he has a B&M business, has many expenses, may have "holding risk" - where his local town may require a 5-15 day hold, etc. These expenses aren't cheap. He has to work on at least a 20% margin to make it "worth it".
It's funny - with coins..... every dealer is a crook if the collector doesnt get "98%" of face on thier bullion - but when you call a handyman, tradesman, etc, you are quoted astronomical figures "by the job" to do relatively simple tasks........(haha - how about $1300 for a water heater install!! like that is not overpriced!!!) no one seems to complain.
It's a business, it's not a collector you are dealing with - there is a profit motive. If the 90% doesn't get sold to another dealer or collector - most of those guys melt it at refiners and accept 90% of melt - that's right - 90%!!!!!
So - in that scenario, to make a profit, how in the world would you get more than 80%?
BTW - the original question should be edited to add "and the dealer also gets stuck buying a 100 clad proof sets in order to secure the lot of 90%". That's a more normal scenario.
<< <i>The dealer who offers 15X for silver when he should be offering 20x or more does not really want to buy it, and most likely does not buy very much of it. >>
Wrong. I know guys that pay 15x and get lots of it, as unlikely as it sounds.
No smaller dealer with overhead will offer spot on 90% - if they do - they either have customers that are paying well above spot...and are operating with extreme volume (and that isnt $400 face - try several thousand face per week or more).
Thanks Capt., for the "formula".
``https://ebay.us/m/KxolR5
Most large volume dealers sell $1,000 bags of 90% for Spot + $2.00 over per oz.
Believe me, i've been at local B&M's when collectors come in and b&tch when they have to pay more than SPOT for 90%. How much do they want? Generally less than $20 face. They NEVER have any real cash on them to buy quanitites. And the best is when they pull out a debit or credit card.....haha!!!!!!!!!
The best bet is for those involved in this area is to get educated. Dealers don't sit in that B&M shop for NOTHING. Do you work for NOTHING? I don't think so.
Once you realize this - you either buy/sell..... or you don't - your choice - but at least you have a full understanding of the business model.
<< <i>
<< <i>When a dealer says that he wants to buy at $15/oz, he's claiming his position on the supply and demand graph. And you know what? The owner of the silver doesn't have to sell it at $15/oz. He can go home and sit on it. This is basic econ 101. >>
I don't think you paid attention in econ 101. There is an equilibrium price for commodities. Everyone selling commodities is considered to be a price taker, at the market price.
What you're describing is a market inefficiency, i.e., predatory behavior by the dealer in offering below the market price. This is not free market economics no matter how much you want to bluster about it. >>
Sorry to burst your bubble, but it is.
I never thought I'd live to see the day someone equated "market inefficiency" with "predatory behavior," but hey... why not? As long as we're saying that a market equilibrium is the only price you can buy/sell something for (which clearly, econ 101 denies, but hey, I didn't listen up in econ 101, did I, now...) I guess anything should fly, right?
Interests:
Pre-Jump Grade Project
Toned Commemoratives
<< <i>
<< <i>
<< <i>When a dealer says that he wants to buy at $15/oz, he's claiming his position on the supply and demand graph. And you know what? The owner of the silver doesn't have to sell it at $15/oz. He can go home and sit on it. This is basic econ 101. >>
I don't think you paid attention in econ 101. There is an equilibrium price for commodities. Everyone selling commodities is considered to be a price taker, at the market price.
What you're describing is a market inefficiency, i.e., predatory behavior by the dealer in offering below the market price. This is not free market economics no matter how much you want to bluster about it. >>
Sorry to burst your bubble, but it is.
I never thought I'd live to see the day someone equated "market inefficiency" with "predatory behavior," but hey... why not? As long as we're saying that a market equilibrium is the only price you can buy/sell something for (which clearly, econ 101 denies, but hey, I didn't listen up in econ 101, did I, now...) I guess anything should fly, right? >>
I'm just about finished trying to cure the economic illiteracy and cracker barrel wisdom in this thread. I went to the London School of Economics, no brag, but, I doubt I have anything to learn from you regarding economics.
www.brunkauctions.com
<< <i>one last thought: presumably the shop owner is remitting all proper taxes while the Craigslist fellow is not.......Does this make you want to rethink who gets labeled as a 'crook' or a 'parasite'? >>
If you are going to drag paying taxes into the equation then the parasite becomes the government.
L.S.E. ? RLY? I thought all along that you may have been a classmate of Barry Soetoro at Harvard.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>fixed it for ya:
>>Customer: I have $400 in silver for sale, how much are you paying?
Dealer: $15.50 per dollar
Customer: A guy on Craigslist is offering $21.00 per dollar?
Dealer: Be careful! People on Craigslist might kill you>>
Regardless of what you think of his (her?) offer, the fact remains that conducting transactions in the comfort of a safe B&M does offer some protection >>
Man accused of raping 25 women met through CraigsList:
link
And this is atrick-heller-talks-about-gold-price-investigation-probe-video-357&catid=4:coin-news&Itemid=26">coin related
``https://ebay.us/m/KxolR5
<< <i>
<< <i>fixed it for ya:
>>Customer: I have $400 in silver for sale, how much are you paying?
Dealer: $15.50 per dollar
Customer: A guy on Craigslist is offering $21.00 per dollar?
Dealer: Be careful! People on Craigslist might kill you>>
Regardless of what you think of his (her?) offer, the fact remains that conducting transactions in the comfort of a safe B&M does offer some protection >>
Man accused of raping 25 women met through CraigsList:
link >>
What's your point? How many gunmen have robbed coin shops? How many coin dealers have been killed during the commission of a robbery? Let's face it---it's a dangerous world out there. That's why any transaction with a stranger should be conducted in a very public location---local bank or even a police station nfor example.
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
<< <i>
<< <i>How dangerous is a Craig's List transaction if it's conducted at your bank or some other very public location? >>
Do you want strangers in your town or a nearby town to know that you collect and/or buy coins? There is a risk of someone following you and robbing you. Even if they don't follow you immediately, what are the odds that you could run into each other on another day when you are not expecting to be followed and robbed? They are too high for me; no thanks. Place the coins on eBay and conduct the transactions by mail through a P.O. Box. >>
This is just plain silly. What's to prevent someone from following you home from a coin show or from your local coin shop?
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
<< <i>
<< <i>
<< <i>fixed it for ya:
>>Customer: I have $400 in silver for sale, how much are you paying?
Dealer: $15.50 per dollar
Customer: A guy on Craigslist is offering $21.00 per dollar?
Dealer: Be careful! People on Craigslist might kill you>>
Regardless of what you think of his (her?) offer, the fact remains that conducting transactions in the comfort of a safe B&M does offer some protection >>
Man accused of raping 25 women met through CraigsList:
link >>
What's your point? How many gunmen have robbed coin shops? How many coin dealers have been killed during the commission of a robbery? Let's face it---it's a dangerous world out there. That's why any transaction with a stranger should be conducted in a very public location---local bank or even a police station nfor example. >>
The point is that mixing money and strangers can be dangerous.
I really liked the comment about how ALL dealers should pay spot for 90 or else they're...what was it...parasites? This usually comes from the same crowd who thinks all dealers should sell at spot too, or at the most a few cents over. And when their favorite local guy goes under (assuming he's stupid enough to have followed their idea of what should be the ideal business model), these same folks- these economic masterminds- can't figure out why he couldn't make it work on a "fair" pennies on the dollar profit margin.
Then they wonder where they're going to go now to hang out/get free opinions on their coins/jabber about things they have, had, or bought elsewhere/ cherrypick deals/ pick up supplies in a pinch/ blow off their unwanted crapola...
RIP Mom- 1932-2012
<< <i>I never fail to be amused by threads like these.
I really liked the comment about how ALL dealers should pay spot for 90 or else they're...what was it...parasites? This usually comes from the same crowd who thinks all dealers should sell at spot too, or at the most a few cents over. And when their favorite local guy goes under (assuming he's stupid enough to have followed their idea of what should be the ideal business model), these same folks- these economic masterminds- can't figure out why he couldn't make it work on a "fair" pennies on the dollar profit margin.
Then they wonder where they're going to go now to hang out/get free opinions on their coins/jabber about things they have, had, or bought elsewhere/ cherrypick deals/ pick up supplies in a pinch/ blow off their unwanted crapola...
And if the buyer pays 98% and then silver drops 3%, like it did today, well, he just makes it up in volume!
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>Then they wonder where they're going to go now to hang out/get free opinions on their coins/jabber about things they have, had, or bought elsewhere/ cherrypick deals/ pick up supplies in a pinch/ blow off their unwanted crapola...
They could always open their own stores, couldn't they? I mean- they sure appear to be experts on how to run one.
<< <i>The point is that mixing money and strangers can be dangerous. >>
With all due respect, Cap't that story was about a rapist who solicited prostitutes ... I'm not saying the girls were asking for it, but I don't think it's a fair comparison. Crime is everywhere even the "good" neighborhoods. I've had plenty of safe transactions on Craigslist it has nothing to do with the website. It has to do with common sense, and one's ability to weed out sketchy folks from the normal folks.
Last week I sold a case on Craigslist to a complete stranger. I met him at a gas station, parked right up front near the store entrance and waited for him on the sidewalk outside the doors. He walked up, we did our business, and that was that. I had plenty of time to look him over, as he approached, in case something was off. But since I had already emailed a few times and spoken on the phone with him, I already felt good about him. But I still had a weapon in my pocket just in case. But I never needed it and we ended up laughing and shaking hands a few times before parting ways. Plenty of good-natured people on Craigslist. Just like not all B&M dealers are vultures
Amat Colligendo Focum
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