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 Replies: 12 / Views: 1,923 |
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Pillar of the Community
United States
1045 Posts |
Hello friends, Went down to a trusted PM buyer today to liquidate some left over inventory from an old jewelry store I once owned. I have been there many times before but never asked what his prices were for 90% and bullion because I just assumed it would be marked up at the standard LCS rate. Turns out he sells it at spot or a bit below. After frothing at the mouth for a few seconds, I ended up buying 15 1oz NTR buffalo rounds for $312 or $21.8/per.  Then he said he would sell me 90% halves at $7.50 and common Morgans for $21. Happy in Reno, -Kurt Edited by Biancasdad
03/07/2014 11:20 pm
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Pillar of the Community
United States
1804 Posts |
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Valued Member
United States
337 Posts |
Pretty good deal. Wish I could get them for spot or darn close to it.
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Pillar of the Community
United States
898 Posts |
Wow I would love to have those kinds of bargins right near by. Congrats.
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Pillar of the Community
United States
3184 Posts |
If I were you, buy out all the morgans at the $21 price if they are in great condition. Thats a great deal
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Pillar of the Community
 United States
1045 Posts |
The supply of Morgans is seemingly endless here in Reno. This is a 24 hour degenerate gambling town where people would sell their own mothers to get their next fix. Also, back in the day, people in this part of the world would tip their waitresses a dollar by using a Morgan dollar so the local supply is likely pretty good. He sells common circulated dates for $5 above spot. Any higher grade or rarer dates are priced differently. I was running short on time today and just basically swapped out an old gold ring I had for a tube of silver. Next time I go I am going to see his full Morgan stock. The bullion rounds I bought weren't purchased from a walk in customer they were ordered from NTR, in fact he actually opened the postal box right in front of me and busted open the tube of 20. I know he uses NTR to melt the truckloads of silver and gold he is buying from the local population then likely NTR wires back the cash along with whatever bullion he orders to keep in stock for the hoarders. He buys silver at 85% of melt and gold at 95% of melt so that's where the big money is. Selling bullion and 90% is more of a service provided since he's not really a coin dealer and not a pawn shop either in the true sense. I'm just thrilled though as I have a bunch of empty plastic tubes in stock just waiting to be filled up with 90%    Edited by Biancasdad
03/08/2014 05:34 am
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Pillar of the Community
Japan
666 Posts |
ask coin shop if it has semi-numiz bullion ... that's where money can be made
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Pillar of the Community
Canada
3692 Posts |
re: gambling: Sad. There's a racetrack in Toronto and the neighbourhood around it is theft-central. And they want to put in a casino, hah! Even the off-track betting places have outbursts. Gambling ruins the quality of lives.
Cherry pick that pile hard!
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Pillar of the Community
United States
1234 Posts |
My advice, ask for a chair before you... Quote:
see his full Morgan stock  |
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Pillar of the Community
United States
4409 Posts |
Congrats on your discovery
-MV
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Pillar of the Community
United States
1200 Posts |
A dealer who sells anything at or below spot is a rare treasure and somebody who you should cultivate to the max! There's no such thing to be found anywhere in my area.
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Pillar of the Community
United States
3486 Posts |
Advice even though you did not ask.
Tell the dealer,
"Your prices are fair to both of us. May I stop in
from time to time to examine what you have?"
This way, you let the guy know that you intend to buy more, and that will gain you
a new dealer friend.
Milk the cow, but bring along some cow chow!
Dealers appreciate steady customers.
And the chair idea - a good idea!
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Valued Member
Canada
293 Posts |
Around here, $4 above spot is the best I can find. Good find!
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Replies: 12 / Views: 1,923 |
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Posted 03/08/2014 01:13 am
