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 Replies: 14 / Views: 1,801 |
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Pillar of the Community
Sweden
1078 Posts |
I mean crazy, positively.
Customers are allowed to buy junk silver whenever there is some in stock - for spot, sometimes below (barely). No premium whatsoever.
I got to look through a bucket of random foreign coins, snagged multiple silvers - all sold per weight for approx US$9/kg
The guy who owns this shop also sells random banknotes for about US$0.25 each.
Otherwise, he sells 'album coins' for ordinary retail prices.
Am I a fortunate one who's stumbled upon this shop or is this common?
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Pillar of the Community
United States
937 Posts |
 Is he crazy? No, most likely not. It is far more likely that he knows his market and clientele and also knows that in a downwardly trending market it is better to price things to sell now than try to get every last dollar out of it and lose more money later. My bet is he is a wise business man and does not try to fleece hias customers. |
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Valued Member
Japan
349 Posts |
What are 'album coins' ?
People probably bring lots of coins to sell to him.
He pays some percentage under spot for junk silver, and some amount per kg of foreign coins that he may not be familiar with.
At least you know that he isn't ripping them off, if he just passes on what he buys without looking through it thoroughly.
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Moderator
 United States
23522 Posts |
You are a lucky collector. Your dealer is sharp enough to offer these deals while still making enough to stay in business. Help him out with your business.  |
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Pillar of the Community
United States
3486 Posts |
The expression "You never go broke taking a profit" is apt.
Perhaps liquidity is the dealer's reason.
Also, junk silver is heavy to tote to a coin show.
The dealer can either sell to a broker or sell to people in the shop.
If you are in the market for such silver by all means give him your business.
Other dealers who bought when silver was higher are not likely to sell at a loss.
Edited by matthewvincent
03/13/2015 11:39 am
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Pillar of the Community
 Sweden
1078 Posts |
Quote:
What are 'album coins' ? Referring to coins in coin flips sold in albums. I buy these whenever I want a specific coin. Quote:
You are a lucky collector. Your dealer is sharp enough to offer these deals while still making enough to stay in business. Help him out with your business. I feel my wallet's the only thing suffering. I can though confirm he's getting a lot of business so I'm not too worried. I'm usually 'too late' when asking for junk silver etc. |
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Moderator
United States
23522 Posts |
Quote:
I feel my wallet's the only thing suffering.
Probably. That's the tradeoff.  |
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Pillar of the Community
United States
1192 Posts |
I have a few guys that sell junk silver low. They are usually the ones that intend to sell it fast and use it like advertisement at the front of the store.
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Rest in Peace
United States
10625 Posts |
They call it loss leader pricing.
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Bedrock of the Community
United States
20753 Posts |
 Nice to hear from someone in Sweden. Starting to look like we have people from all over the World here more and more. Keep looking through his stuff. Your doing good so far. |
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Valued Member
United States
327 Posts |
Quote:
The guy who owns this shop also sells random banknotes for about US$0.25 each Hmmm...that's a great price.  |
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Moderator
United States
188440 Posts |
I think you have found yourself a good dealer.  |
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Pillar of the Community
Russian Federation
5173 Posts |
Reminds me of that one coin store I found at Hobby City recently, with a 10 ruble ($0.15) bin full of crazy cool stuff (I got a Shield nickel from there once). |
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Pillar of the Community
United States
3843 Posts |
Junk silver at spot? My wallet would be a bit light too after going to that shop.
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Pillar of the Community
Canada
1269 Posts |
@Joe2007
I agree.
I think my wallet might well be empty after visiting that shop.
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Replies: 14 / Views: 1,801 |
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Posted 03/13/2015 10:40 am
