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Posted 05/14/2012 1:57 pm
Quote:
Silver's very volatile. What did you expect?
Silver's very volatile. What did you expect?
My B&M dealer gives 80-90% of spot. He told me it depends on the amount of the transaction, obviously small deals get a lower percentage. He checks spot throughout the day. Most importantly he is very up front about what spot is at that moment (has a wall street web site up) and lets every customer know what spot is and what his margin is. He only sells to his melter once a week and says sometimes he makes money on that and sometimes he gets burned. He also told me he used to hold sometimes when the price went lower to recoup losses but found that to be a fools games, so he just sells once or twice a week depending on volume.
He has great deals on collector coins and is very honest, he always drops his price down from listed price. If anyone needs an honest coin guy in central New York, he's on old Liverpool road in Syracuse. Great guy and his name is Mark. (no affiliation with me)
