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 Replies: 10 / Views: 1,268 |
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Valued Member
Canada
442 Posts |
So I was at the Mall of America a few weekends ago and noted a few things.
-Applestore was jammed pack. Not unusual I suppose
-clothing stores were jammed pack. Still not unusual.
What I did find interesting, was that there was this new store called "gold guys". and they had a line up! Looked like 5 stations with "consultants" looking at people's jewelery and what not. I stood in line for about 10 minutes to see what they would give me for the 1 oz silver maple I carry around just for kicks, but with 3 people ahead of me I just left.
So, it seems people realize that gold is worth something, but at the same time, they are getting rid of it as fast as possible for cash.
Interesting.
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Pillar of the Community
United States
4897 Posts |
Probably because it is hard to buy groceries or gas with a gold necklace.
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Valued Member
United States
71 Posts |
I live about 50 minutes south of Bloomington (Where the MOA is located) and was actually up there kicking it with my kids at the Nickelodeon Universe park this past weekend and I didn't even know about the "Gold Guys" shop! I happen to work up in Bloomington as well so I will definately be heading over there sometime to see what they're all about.
I have to think with the overhead having a store in the Mall of America, that they aren't giving people great deals...but I could be wrong.
Edited by Geardaddy
05/03/2011 1:24 pm
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Pillar of the Community
United States
4008 Posts |
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I have to think with the overhead having a store in the Mall of America, that they aren't giving people great deals...but I could be wrong. Somehow, I don't think so. Mall retail space is EXPEN$IVE stuff and they have to pay for it somehow. It's a bit like those "Sell your gold!" places that advertise on TV. Their costs are high, so they pay low to make up for it. Still might be worth a look, though, if you don't have to go too far out of your way. You never know... maybe they have something on a special that would be good.  |
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Valued Member
United States
71 Posts |
Quote:
Somehow, I don't think so. Mall retail space is EXPEN$IVE stuff and they have to pay for it somehow. It's a bit like those "Sell your gold!" places that advertise on TV. Their costs are high, so they pay low to make up for it. Still might be worth a look, though, if you don't have to go too far out of your way. You never know... maybe they have something on a special that would be good.
 I think we're saying the same thing Ed! Overhead of a store in the MOA has to mean that they are not offering much for your gold and silver, and they're probably jacking their prices up when you want to buy from them as well. I'll check them out just to see what they're all about, but I'm not expecting "can't pass deals" from them... |
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Rest in Peace
United States
9104 Posts |
Yep. au and ag are something you spend your money on after you pay the rent and have enough gas to get to work.
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Rest in Peace
United States
9104 Posts |
Let's say they're paying $6000 a month rent, which is substantial. That breaks down to $200 a day. By the OP's estimate, they have people lined up three deep at five buyers.
If they pay 80%, they only need to buy $1000 worth a day. That's $30 in coins or less than an oz of gold. Chicken feed, in the overall scheme of things. They could easily buy that much from one person.
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Valued Member
United States
71 Posts |
Quote:
Let's say they're paying $6000 a month rent, which is substantial. That breaks down to $200 a day. By the OP's estimate, they have people lined up three deep at five buyers.
If they pay 80%, they only need to buy $1000 worth a day. That's $30 in coins or less than an oz of gold. Chicken feed, in the overall scheme of things. They could easily buy that much from one person. Well one thing is for sure. Having a store front in the Mall of America is definitely going to get you traffic. With the overhead of such a location they must be either really low balling naive sellers or they are getting their numbers on sheer volume. I'll check them out sometime soon and report back what I find. I am interested to see their buy/sell pricing. |
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Pillar of the Community
United States
4008 Posts |
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I think we're saying the same thing Ed! Indeed we are! I was responding to your "I could be wrong" comment with "I don't think so". |
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Moderator
 United States
16679 Posts |
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and they had a line up! Looked like 5 stations with "consultants" looking at people's jewelery and what not. Most likely 5 stations of trained employees who could not give a lick about the new found gold prices, just that they needed a job or jumped on the recent bandwagon of high PM prices like all my co-workers. If seasoned employees, low-balling people I'm sure. swcoin.ecrater.com
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Rest in Peace
United States
9104 Posts |
 waiting for followup! |
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Replies: 10 / Views: 1,268 |
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Posted 05/03/2011 1:20 pm
