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gold buyers/ sellers / traders, do some dicker?

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https://sigforum.com/eve/forums/a/tpc/f/320601935/m/1060026624

July 01, 2017, 01:09 PM
bendable
gold buyers/ sellers / traders, do some dicker?
do any of them have , oh say three prices for 1 troy oz gold ingots?

Price A. for 1 - 9 .9999 , 1 ounce bars
price B. for 10 -25 1 ounce bars
and
price C for 26 -50 1 ounce gold bars
or

are they getting their set percentage , regardless of the amount a body purchases?





Safety, Situational Awareness and proficiency.



Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first
July 01, 2017, 01:26 PM
FenderBender
When buying you can usually get a discount.
July 01, 2017, 01:54 PM
bendable
any clue as to what they get over the daily price quotes ?
+15% , + 20 % ?





Safety, Situational Awareness and proficiency.



Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first
July 01, 2017, 04:05 PM
rburg
If you're looking for a rule, I doubt you'll find one. Some sellers are just small guys and can be motivated by various factors. If you only want ingots or 1 oz coins, the prices are pretty well set. Generally they will pay just under spot and will sell for just over. Most use Kitco.com and reference it all the time. That means anytime they're about to make a quote. If you decline business at that time, you'll get another quote in an hour or two. Its just how the business seems to flow.

"Scrap" gold prices will vary more. Jewelry stores and estate sellers can be all over the map. But they can offer a better price because the price figures in the cost of smelting and then an assay. It also allows for errors between marked purity and actual. The general rule is you will do better buying scrap and taking advantage of the break.

There is another class of seller, the casual guy. He maybe has inherited some gold like coins and want to realize cash. Don't expect any of those to accept your credit card. Too much risk and the premium to the card company can kill any profit. Some won't even turn over payment before the purity of the gold is proven.

The world is full of scammers. Just because it looks like gold doesn't mean it is, or that its 24k. Because you're asking these questions I assume you're a novice. There are scammers who will read that as ripe for a taking.


Unhappy ammo seeker
July 01, 2017, 04:43 PM
pbslinger
Some of Letterman's sophomoric humor: Looking for a used car? Bring the wife down and we'll dicker"
July 01, 2017, 06:03 PM
Stlhead
The amount charged over spot for precious metals is typically called the "premium". It varies between sellers and typically does go down the larger your purchase. If the metals purchased have any collector value (such as rare or old coins) then the premium will reflect that as well. When yo go to sell depending on the product you may get a little above spot or a little below. The difference between the buy and sell price that your dealer offers is called the "spread" and is how the dealer makes his money. Like anything else there are good places to buy and sell and bad places. If you are interested in metals do your homework before you invest, the differences in premiums can be quite substantial.
July 01, 2017, 06:12 PM
LS1 GTO
I have found premiums on gold re in a percentage of spot and for silver it's a dollar amount.

And the more you buy, the less the premium. Also, in California, if a gold/silver purchase equals $1,500 or more, it's tax-free. (Considered an investment.) No ID require unless $10K or more per month is bought.






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July 01, 2017, 06:17 PM
braillediver
Ask David Troung. He'll probably know the margins and volumes. I believe the "dickering" is based on the volume involved.

WTB: Gold scrap and unwanted jewelry...
https://sigforum.com/eve/forums...760074024#7760074024


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July 02, 2017, 12:06 PM
bendable
thanks folks





Safety, Situational Awareness and proficiency.



Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first