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 Replies: 18 / Views: 3,422 |
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Valued Member
Canada
246 Posts |
Anobody know how much is the margin for the dealer when the sell new stuff from the mint? For example, what is th price for a dealer for the last dino coin? I was just curious to know this, because as a customer it's always interesting to know how much money they do on our back...
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Valued Member
Canada
233 Posts |
It depends of the coin but it's usually 15%.
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Pillar of the Community
Canada
1189 Posts |
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Pillar of the Community
Canada
3690 Posts |
Generally, the higher the cost of the coin, the lower the discount. Some high dollar gold coins are as low as 10%, while lower cost cupronickel can be as much as 20%. For some, like the 20 for 20, circulation quarters issued at FV etc., the discount is of course 0%.
That is not exactly a huge markup up in a relatively low volume retail business.
Edited by CC-Ottawa
02/15/2013 12:10 pm
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Valued Member
Canada
333 Posts |
Wow, I thought the margins would be higher for a brick & mortar operation.
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Pillar of the Community
Canada
695 Posts |
Those would be the margins while the coin is still available to purchase through the mint. Once it is sold out, dealers will usually increase the selling price and thus their margins will increase as well. The more popular the coin, the more that the dealers can raise their prices/margins.
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Rest in Peace
Canada
1360 Posts |
Though interesting, the statement "interesting to know how much money they do on our back" is really unfair. Though I am not in retail today - I once was. Does your 'interest' also include the amount the dealer pays for inventory storage, security, insurance, property tax, heating and hydro, let alone employees, and a personal salary. What you ask is NOT a fair question, and I'm sorry, but really is none of your business. You are (likely)not in business, and probably can't understand all the issues with selling a simple coin.
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Pillar of the Community
Canada
6768 Posts |
Yes, the statement is not really fair, but...
to be dealer / retailer - is your choise, the choice to be a customer of other "dealers" as Hydro, insurance etc. And together with all this you also need to earn the profit.
So, for the average customer - you "doing" the money on coins, while the CP or Mint boutiques do not.
Edited by Silveroid
02/15/2013 2:10 pm
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Pillar of the Community
Canada
3690 Posts |
Quote:
Those would be the margins while the coin is still available to purchase through the mint. Once it is sold out, dealers will usually increase the selling price and thus their margins will increase as well. The more popular the coin, the more that the dealers can raise their prices/margins. And equally obvious - when they sell below issue price on the many coins that do not sell out, their margins are even lower than those stated above.. |
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Pillar of the Community
Canada
695 Posts |
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Valued Member
 Canada
246 Posts |
I just want to apologize about my quote "doing money on our back". I know it's tough to be in business... I was curious about the margin and knowing that 15-20% are the average margin between the amount customer paid and the merchant is fair enough... It's not like buying t-shirts made in china with the a trademark like "Nike" with huge margin, even if it's on sale at 50% the still doing lots of margin... Thanks.
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Valued Member
Canada
430 Posts |
Primary source of dealers profits come from people bringing in coins/precious metals//jewelry, to supplement newly released mint products margins. No dealers just sell strictly newly issued RCM products. There is not much money to be made. I know some dealers that will sell newly issued mint products at about 5 to 10% discount from issue price. Edited by Coinsplus
02/16/2013 02:07 am
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Pillar of the Community
Canada
789 Posts |
Quote:
Primary source of dealers profits come from people bringing in coins/precious metals//jewelry, to supplement newly released mint products margins.
Relating to selling precious metals or jewellery to stores, unless you are sure what you are selling, it is better to get appraisal from multiple stores first, as mistake do happens. http://www.cbc.ca/news/canada/manit...s-iteam.html |
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Pillar of the Community
Canada
972 Posts |
 Mialonde1977 |
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Rest in Peace
Canada
1360 Posts |
shopaholic Thanks for that post/link - an interesting read for sure Especially since Gatewest was mentioned, and were only wrong 1 for 6 items.
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Pillar of the Community
Canada
789 Posts |
I think most of us only deal with GW for NCLT, so for that we are pretty safe  |
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Replies: 18 / Views: 3,422 |
Posted 02/15/2013 11:34 am
