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 Replies: 82 / Views: 6,382 |
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Pillar of the Community
United States
4008 Posts |
Quote:
I spent four days in Chicago at a distributor's convention where they provided meals, entertainment, etc. I still got to write off $300 in "expenses". Hence the phrase, "Knowledge is power!".  |
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Pillar of the Community
United States
2335 Posts |
I used to be a plumbing/general contractor. My favorite deduction was the auto expense. You are allowed to deduct either actual expenses or mileage. All the other contractors I knew would buy a new truck every couple years & deduct their actual expenses of $6-8,000/year. I'd buy a used truck in decent mechanical shape for $1500-2500 every 3 or 4 years, my average gas & repair expense would be around $1200......but I'd drive enough to get a $5-6000/year deduction from mileage. Almost the same deduction without the expense.
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Pillar of the Community
United States
2049 Posts |
For a dealer, I think a fair buy/sell price for ASE's would be to buy at $1 under spot, and sell for $3-5 over spot. For AGE's, buy at $50-$60 under spot and sell for $60-$70 over spot. The $110-$130 spread on AGE's may seem extreme to some but the dealer has to make a profit first of all. Second, they have to take into account the wild swings in the PM market. If gold takes a $50 hit, then that wipes out nearly half of the spread. |
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Pillar of the Community
United States
2049 Posts |
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Buy gold at 90-92% of spot.
silver $4-$5 below spot If you were a dealer here in the Madison, Wisconsin area you wouldn't last long. Dealers here buy generic silver at about $2 below spot, and pay as much as spot for ASE's. Many customers call around before making the sale so if you offered $4-$5 below spot for an ASE, and another shop is offering spot for it, you're going to likely lose that customer forever. |
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Pillar of the Community
United States
2168 Posts |
Our dealers for the most part use percentages for bullion and 90 percent. The ASE are sold by them for 1.50 over spot. |
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Pillar of the Community
United States
4008 Posts |
Charging $1.50 over spot for an ASE is a VERY good deal. Any dealer who can sell at that price and stay in business is well worth patronizing. A lot of shops charge 2-3x that premium... and they can usually get it. One local downtown shop in my town charges $4.50 over spot for BU ASEs and is more often sold out than not. |
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Rest in Peace
 United States
9104 Posts |
Quote:Charging $1.50 over spot for an ASE is a VERY good deal. Any dealer who can sell at that price and stay in business is well worth patronizing. Especially since you'd be selling them for 25% lower premium than the big dealers have to pay the gubmint. Why any dealer would sell them for less than the wholesale for large quantities is puzzling to me. |
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Pillar of the Community
United States
4897 Posts |
 Quote:
Why any dealer would sell them for less than the wholesale for large quantities is puzzling to me.
Well said! Edited by amida17
12/25/2011 7:59 pm
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Valued Member
United States
113 Posts |
When, I ask some dealers what they pay for bullion I end up saying, "yeah, I'd buy it at that price too." maybe I'm spoiled but I could trade my silver for gold or vise versa (whatever was more favorable given the GSR) and get 97% for the gold or spot for generic silver or spot plus a $1 for ASE's. This was from a private dealer that traveled around buying up other peoples' collections and selling them pretty quickly. |
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Rest in Peace
United States
9104 Posts |
And didn't have the $30,000 a year overhead of a shop.
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Pillar of the Community
United States
3670 Posts |
I have found three things/genres that sell like nobody's business.... 1. Pm's, but then a good amount of you knew that before I was even conceived... 2. Lionel train sets. One of the most recognized NAMES over 100 years... 3. Die-cast rare Asian Godaikin or Popy robots, esp MIB form the early 70's or 80's. Like Voltron, or Golion as he is called on the other side, lol.... http://www.ebay.com/itm/38039656106....m1438.l2649That seller above who looks like an estate sell liquidator had no idea what precious metals they stumbled on when he found five or six of these robot sets. The starting bid of just over 1600 dollars has drawn a bid by the way, so not a pipe dream high priced listing, even though it is no doubt WAY high priced.... What do all of the above have in common, they are all composed mainly of metal. Things made of metal last way longer and hold their value far longer, then things composed of plastic for example.... So I plan to buy a piece of silver, then a train set, then a robot set for most of the first half of the new year, and then I repeat that process over an over. Backed by money made when the boating summer business shows back up where I bar-tend.... Most would say, PM's are the best angle. Why not focus on them 100%, and that is because I like variety. And I took the time to research each market for the three, via a large chunk of invested money last year, and had no problem moving any of the fore mentioned when I needed to sell.... A SHTF situation changes everything however. As ONLY PM"S would be profitable and smart to own at that point. So I take a HUGE GAMBLE by not going PM's only, especially with the economy in the current hanging by a thread state it is in today.... Edited by Silverhawk74
12/26/2011 4:04 pm
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Pillar of the Community
United States
2168 Posts |
Lionel trains from the past are great to have. My father had hundreds back in the 60s. Many were even in the orig boxes when he died. My brother sold so many of them. I only have a few but glad I do (as well as buildings bridges and other train stuff)
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Pillar of the Community
United States
3670 Posts |
Very cool Angel that you still have some of those old sets an buildings, as I am sure they have much sentimental value being owned by your father, and having so much family history tied up in them....
I fear the Lionel collectors will fall in numbers when all the baby boomer generation passes on, as I am just not convinced that this new generation will see the interesting collection factor. Of course, they will always be railroad workers who appreciate them, and many from my generation or the next who share that family connection you spoke of Angel....
Edited by Silverhawk74
12/26/2011 5:55 pm
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Pillar of the Community
United States
2168 Posts |
Yes I see what you're saying. I guess all we can do is try to instill in the little ones a sense of wanting to keep things for a sentimental reason. It seems there is so much 'stuff' these days and so much is plastic and dispOsable not much attachments for a special toy. I saw all my grandson received for Christmas. While I did get a few toys my big gift was one of those 5 oz silver coins that he wanted to put in his bank! Only 3 and wants to save it!
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Pillar of the Community
United States
4008 Posts |
Quote:
Why any dealer would sell them for less than the wholesale for large quantities is puzzling to me. I dunno, Fredd. Maybe they consider it as a loss leader? Maybe they only sell at this price to their very best customers? Hard to say for sure. Anyway, it is a better deal than I can get locally and I am very JEALOUS!  |
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Replies: 82 / Views: 6,382 |
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Posted 12/25/2011 10:15 am
