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 Replies: 49 / Views: 4,605 |
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Pillar of the Community
United States
1454 Posts |
One of the reasons I like this site is the "typically" polite discourse I enjoy here. We don't have to always agree with one another... not a problem. But the personal attacks, especially against someone as friendly, decent, and knowledgeable as Hawk? What's the point? Simple rudeness? Ego trip? Naked aggression? Amusement? My free advice to people like this: get a life, or some help. Shrinks have major student loans that need paying down, you know. Help 'em out.  |
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Bedrock of the Community
Australia
21788 Posts |
1893S: Your remark is out of place, and irrelevant to this thread.
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Pillar of the Community
 United States
3670 Posts |
Thanks T, here ya go this is relevant, lol.... "Trautman: It's good to hear your voice Johnny, it's been a long time. Look John, you've done some damage here, they don't want anymore trouble. That's why I've come. I want to come in there and fly you the heck out. Just you and me. We'll work this thing out together. Is that fair enough? Rambo: Where did you come from Sir? Trautman: Bragg. Rambo: I tried to get in touch with you, but the guys in Bragg never knew where to find you. Trautman: You know I haven't been spending much time there lately, they've got me down in D.C. I'm shining a seat with my backside. Rambo: I wish I was back in Bragg now. Trautman: We'll talk about that when you come in. Rambo: I can't do that Sir. Trautman: Look John, we can't have you running around out there killing friendly civilians. Rambo: There are no friendly civilians! Trautman: But I'm your friend Johnny! I was there with you knee-deep in all that blood and guts. I covered your butt more than once. Seems like baling you out of trouble's got to be a life-time achievement for me. Rambo: There wouldn't be no trouble except for that king-  cop! All I wanted was something to eat. But the man kept pushing Sir. Trautman: Well you did some pushing on your own John. Rambo: They drew first blood, not me. Trautman: Look Johnny, let me come in and get you the heck out of there! Rambo: THEY DREW FIRST BLOOD..." Edited by Silverhawk74
05/22/2012 9:27 pm
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Pillar of the Community
United States
1454 Posts |
LOl, Hawk. We love the exact same movies. Like he proved in Rocky I, Stallone was a pretty darn decent actor back then. I think he became a victim of his own success, though. Judge Dredd... Ughhkhghkk .
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Pillar of the Community
United States
3670 Posts |
He was really good in that movie Expendables most recently last year. Interesting note they are planing to have Chuck Norris in part 2 of this serious so that should be good. Chuck is king, lol. Nobody has sold more exercise machines I figure then Chuck. He is like 69 an would destroy me in like a nano second, lol....
You guys are gonna love this as this triggered the thought. I sold a gold coin to a fellow who lives in Kansas this past Monday, an as I was getting the address info while putting the package together, low an behold the buyer was Chuck Norris, I kid you not. The Chuck Norris, well I doubt it unless he does reside in Kansas. I have been thinkin about emailing him an telling him his coin is in route an then ask him for the record...."I know you must get this often, but....lol"
Edited by Silverhawk74
05/22/2012 10:11 pm
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Valued Member
United States
410 Posts |
Sorry to hear about the shop closing. As to the sales tax issue, that is Tennessee's own doing. They willfully chose to depend almost exclusively on sales tax to fund the state. No income tax and a tiny amount of property tax. I remember when I lived there people stormed the capital building when there was a rumor that the legislature might pass a sales tax.
I wonder if that means the Southern Bullion's in my area will be closing soon. Alabama is another state that relies heavily on sales tax (and the Federal government) to pay the bills. Our sales tax is 10% in most cities.
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Pillar of the Community
United States
3670 Posts |
I remember you saying JSH about living in Bama an shopping from time to time at the store in your location. Keep me posted if it does happen to close, as I will be interested to see if this chain of coin stores makes it or not.....
According to BF, these type of chains have always been doomed to eventual collapse. I figure it is hard for them to survive these long dips as well, esp as I recall us leaving items in safe due to the fact we paid 38 per oz. for the item back when silver was way higher an simply could not sell it right now for example with silver under 28 again. We will see....
Edited by Silverhawk74
05/22/2012 10:30 pm
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Pillar of the Community
United States
1454 Posts |
My old handgun instructor was named Chick Morris. He took a pretty good ribbing from most people in my class; but not me. I never make fun of anyone who can tattoo a bloody smiley on a man's head from 21 yards before I can hardly clear my holster  |
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Valued Member
United States
410 Posts |
Southern Bullion is still advertising here but the focus has changed. A year ago they advertised like any other "Cash for Gold" place but stressed that they pay top dollar because they own a refinery. Now they have added "Coin and Jewelery" to their name and advertise great prices on used jewelery.
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Pillar of the Community
United States
3670 Posts |
That was the gameplan JSH, you nailed it, an perhaps their downfall. Don't try an be a Zales, when at your heart you are just a pawn shop for silver an gold my feeling, bad idea all together, should have stuck with what brought them to the dance.....
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Pillar of the Community
United States
2335 Posts |
Lower PM prices hurt a company holding inventory but that's not the only factor. The business model is based on buying at X% less than spot & selling for spot or slightly over. When the price of PM's drops the profit margin doesn't change, but the amount of profit per ounce drops. That means you have to turn over a larger amount of inventory to make the same amount of money. Assume you have an established store that buys an average of 1000 ounces of silver per month at a 10% margin. With silver at $35/ozt you are making $3500 a month. If silver drops to $27/ozt you are suddenly making $2700.
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Valued Member
United States
196 Posts |
trdhrdr007- I am sorry I misunderstand you. But if you buy 1000oz at say 90% (10% margin) of $35. Then that is $31500. If silver goes to $27, then you sell the 1000oz so $27000. You lose $4500 from that investment.
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Valued Member
United States
410 Posts |
Selling jewelery makes complete sense to me. They buy a ring at 80% of the scrap gold price then mark it up 200% over what they paid. There is a lot more potential for profit than if they simply sent it to the refinery as scrap gold. I think your store's downfall was location. If I recall correctly the store was in Turkey Creek which is the most expensive retail real estate in Knoxville. Not exactly where one expects to shop for second hand jewelry. I think they would have done better in a low rent district.
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Pillar of the Community
United States
4897 Posts |
Quote:
Selling jewelery makes complete sense to me. Quote:
There is a lot more potential for profit than if they simply sent it to the refinery as scrap gold Yes and no... I would rather take the smaller profit and buy more gold with it. Jewelery can sit a looooong time. The smaller initial margin can be turned over multiple timenes before the average piece of jewelry is sold. |
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Pillar of the Community
United States
3670 Posts |
You called that JSH, nailed it sir. There was plenty of gold an money within my location there in turkey creek within a 10 mile radius, an very few of them ever need to sell, an buying scrap gold an silver coins an such at a lower cost margin is what keeps a place like that going....
The overhead was 20 grand a month, as I have said we needed to be in a much lower rent location in more of the blue collar side of town, just is what it is.....
Edited by Silverhawk74
05/23/2012 8:46 pm
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Replies: 49 / Views: 4,605 |
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Posted 05/22/2012 9:25 pm
