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 Replies: 9 / Views: 1,713 |
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New Member
Philippines
2 Posts |
Please let me know. Looking for good wholesaler here. Whether coins or anything in that sector.
*** Moved by Staff to a more appropriate forum. ***
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New Member
 Philippines
2 Posts |
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Valued Member
57 Posts |
For most wholesalers you have to set up a retail seller account and unless
they set up a special arrangement where you assure them you will have numerous smaller
orders, require gold 100 oz minimum orders. You also have to be careful and check
if they will be responsible till you receive the order. Some just want to
ship and not be bothered with such things as lost packages.
Some online family operations state where they order from, or you can call and ask.
I know of a couple, but can't think of their names right now, I looked into it
some time ago. I order a lot of gold, but didn't get a good feeling about
the character of the ones I looked into.
Edited by Arthur Daniel
07/24/2015 5:38 pm
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Bedrock of the Community
United States
94367 Posts |
With respect, this is a somewhat naive question. Wholesalers have hundreds of thousands of dollars (and more) invested in electronic trading operations, and they make a fractional profit by hedging and rapidly trading in the tightly wound commodity bullion markets. You do not sound like a likely customer for one of these companies, if I may say. If you want the best day-to-day buy and sell prices for bullion, just go to your local coin shop.
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Pillar of the Community
United States
2589 Posts |
I know a fellow who owns a coin shop and purchases mass amounts of silver eagles and gold eagles wholesale, he easily sells hundreds of thousands of dollars worth of product a week and at times even has other nearby dealers coming in and buying from him. Without volume, you cant get good wholesale prices.
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Pillar of the Community
United States
632 Posts |
Like others have said there is no way the average coin collector can access wholesale prices. My local coin store can't even get super competitive prices because it just doesn't order the volume that's necessary for the discounts.
However, I have always been an advocate for buying online for cheap precious metals. Seems like I've always found a better deal online than what I could get at a brick and mortar shop locally
Edited by Elimist
07/25/2015 11:27 am
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Pillar of the Community
United States
4333 Posts |
Online purchases, not for the paranoid (paper trail).
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Rest in Peace
United States
17900 Posts |
There is no such thing as cheap silver or cheap gold. To get a tiny fraction of a discount on such purchases usually requires single orders in excess of $200,000, or yearly orders over $1,000,000. You have to sell a LOT of silver and/or gold to make a tiny margin. As has been suggested, find a local shop you like and buy what is current market value that's fair to you and to them. You also have a likely place to SELL those purchases if you need to cash them in. If you are buying via the net - just make sure you are buying from a reputable dealer. There are PLENTY of them. Or just snag them on ebay, and buy TPG only, even for bullion. Regardless of some paranoia towards ebay, they have the most ELABORATE system in place to insure the buyer is covered 12 ways to Sunday. |
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Bedrock of the Community
United States
94367 Posts |
If you can't handle a few extra bucks for your LCS on a $1K purchase, then you need to re-think your collecting strategy. Seriously.  |
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Pillar of the Community
United States
3789 Posts |
if you truly want wholesale prices, right at going market prices, get a futures contract and then take delivery of the metal. No joke. Once you do that, you will never EVER believe in manipulation and you might not want to even take delivery of that silver or gold once you see whats involved even the preparation and costs in involved in taking delivery. Outside of that, unless you are a high volume dealer as has been pointed out, you wont get wholesale prices. I encourage you to come visit the CME. To learn more- http://www.cmegroup.com/trading/met...futures.htmlbtw- I am not doing this for gain nor have any affiliation with CME. Just telling you how you can take physical delivery at market prices. |
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Replies: 9 / Views: 1,713 |
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Posted 07/24/2015 5:35 pm
