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 Replies: 82 / Views: 6,374 |
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Pillar of the Community
United States
548 Posts |
Thanks. I've been over paying.  Heck, you should see what I offered a guy for a 20 count roll of them this am. I hope he turns it down. |
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Pillar of the Community
Canada
3692 Posts |
It depends largely on your supplier. If you have a constant supply, then you can afford to keep low premiums. But if you rely on buying from the public, you don't really know when you'll get the same flow of supply again. When the price gets lower you may find that less people are cashing in so you'll have to keep a high price anyhow.
Also, I wouldn't rely on flat dollar rates. For example, a $5 fee is ok when silver is $35-45, but ghastly when it dips down to $25-29. It should be a percentage based on supply (and demand).
Edited by Libertad
12/20/2011 11:36 pm
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Pillar of the Community
United States
2168 Posts |
I guess my local dealer has good supply since he only charges 3 percent over spot to sell to me. I believe he pays spot less 5 percent to sell to a customer but I'm not 100percent sure since I've never sold
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Pillar of the Community
United States
667 Posts |
Ok if I go just a slight direction? Because of the premiums I have been buying the Silver Maples and the average premium has been about $2.50. ASE's have been running around an average of $3.00. Gold I have just been lucky and paying flat spot price, though this is all being bought from non dealers and what I call a win since they are all 1/10's which normally carry the highest premiums. Here is the real truth. I am not a coin collector so few if any coin dealers cater to my needs. I want bullion quality and in larger amounts than most have on stock. Most dealers are involved with numismatics that I have zero interest in. In addition since margins for me can be slim I can not afford to support a seller who has to make a higher fee and also live with slim margins. |
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Pillar of the Community
United States
3670 Posts |
If I was as real deal established dealer, with a store, overhead, etc., I would hope to get everything for about 20% under spot to have any kind of prayer of keeping the doors open.... The beauty of my small ebay bus, I am a one man show, no overhead other than monthly bills via internet and electricity, and I ship WAY faster then those big dawg companies, like on that ridiculous commercial where that guy says he gets his gold from that place that ships faster than anyone else in the bus, TEN DAYS! WOW really that fast eh, lol.... And I certainly am not getting rich, but I am kinda worried I may cross that dreaded 20,000 dollars in sales Mendoza line before the year ends if another larger item or two sales. I am totaling up my yearly sales numbers now, so I can say for sure. Even though of all my sales in last 12 months, it is no where all profit. And I would be real lucky if half of it were not strait out of my own pocket invested into ebay and pay-pal fees, shipping, and PM plus shelf stock costs.... I have sold very limited Pm's, including two large transactions which did not even go through ebay, with board members here in TBK and Pobox. But it sure seems like silver and gold will not sit long, short of marking high and waiting for right bidder. Another words, price it just right, not too much, but not to little, and you should find some fair profit somewhere in between.... As far as marking it high an waiting for the right bidder, I will use the example of a guy who bought a nice restored gas pump for 2300, and said he could flip it fast an make 500, or wait for the right buyer, and make 1000..... Edited by Silverhawk74
12/21/2011 02:34 am
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Pillar of the Community
United States
3670 Posts |
I keep solid books, all items sold emails filed away just in case and for my records.... In last 13 months, when I first sold my first item on ebay, I have sold 113 transaction, with 111 on ebay and 113 total.... That spans over 13 months plus and totals at almost 18 grand in total sales. And only $15,534 happened in the year of 2011, so I am not really as close to that 20 grand Mendoza line that I thought I was.... The largest transaction was for 2500, and the smallest was for 1 stinkin dollar, lol.... My average sell is for the amount of 156 dollars.... I have sold about 800 additional dollars in items for the Estate sell people, that I of course filed separately.... I am back to 67 oz. of silver as well, and still have some great Lionel train stock, so hopefully I will make it back to spring where I can really start adding more silver and shelf stock, lol.... Edited by Silverhawk74
12/21/2011 03:51 am
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Rest in Peace
 United States
9104 Posts |
Hawk-
What happens at 20G?
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Pillar of the Community
United States
570 Posts |
One of my local dealers buys silver eagles at spot (if you are selling 20 ounces or more at a time), so in this equation $32 an ounce. They have two different sell prices. First, more than 20 ounces of silver is about a $3-$4 premium over spot. Second, less than 20 ounce price is around $7-$8 premium over spot. When I am there they usually have one person selling a few rolls and someone right there is willing to buy. They turn a good profit and never sit on them very long. I see people in there all the time that are willing to pay the $7-$8 premium over spot for just a couple of ounces and in the great state of California, tax until you reach $1500 in bullion.
Edited by mmorgan22
12/21/2011 10:47 am
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Pillar of the Community
United States
2168 Posts |
Wow those a large premiums. I guess I am lucky that mine is no where near that and not that far away. I did ask though and they only sell at the shop so no mail orders only pickup at the shop for 3 percent over spot which is well under $1 per oz at the current prices
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Pillar of the Community
United States
548 Posts |
This has turned into a really good thread.  |
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Pillar of the Community
United States
2168 Posts |
Mmorgan. Just wondering do you have to pay sales tax on coins purchased from the mint as well in CA? Just wondering we have no sales tax on PM
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Pillar of the Community
United States
570 Posts |
Their is a sales tax on all purchases of coins (not sure if it is city or state law). Bullion you have to spend $1500 or more to not get charged sales tax (all of California). I mainly purchase foreign coins from dealers and not bullion. I do purchase a lot of silver coins though. Some dealers charge me tax and others do not. One dealer said they didn't have to charge tax on foreign coins, but had to on US. That might be a city law though. Needless to say, I tend to shop more where I don't get charged sales tax  |
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Pillar of the Community
United States
2168 Posts |
Thanks. I know Texas as something like that I've read
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Pillar of the Community
United States
570 Posts |
Edited by mmorgan22
12/21/2011 12:26 pm
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Pillar of the Community
United States
2168 Posts |
Thanks. I was surprised to hear tax was charged
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Replies: 82 / Views: 6,374 |
First Page
Posted 12/20/2011 11:26 pm
