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Author	Replies: 6 / Views: 1,030
biggfredd Rest in Peace United States 9104 Posts	Posted 08/15/2011 05:00 am At a show, I asked a bullion broker what he was getting for Krands. "390" Geez, what are you paying for them? "390" But...! Don't care, just want to do some business! The lesson? If you're going to buy and sell PM, it's up to you to decide what the merchandise is worth. Input from others is useful, but when faced with buy or sell at 390, as in this case, ultimately "You gotta know when to hold 'em, know when to fold 'em." Report this Post to the Staff

mmerlinn Valued Member United States 302 Posts	Posted 08/15/2011 06:18 am Do some business? Turning stuff for free is not a business, it is a charity. Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21788 Posts	Posted 08/15/2011 07:38 am Or he is prevaricating. Report this Post to the Staff
John Bonzo Valued Member United States 123 Posts	Posted 08/15/2011 07:55 am I consider this a red flag for the dealer and would be very hesitant/cautious to do business with him. As already mentioned by replies, the first impression of him is that he is either not smart or he is not honest. Now, I guess he could be doing this to develop relationships with people who could end up being repeat customers, or he could have already earned enough money for his lifetime and is a coin dealer as a hobby. However, I would think that there would be much better ways for either! Report this Post to the Staff
Libertad Pillar of the Community Canada 3692 Posts	Posted 08/15/2011 4:54 pm Maybe he had them saved up from decades ago and is just going with the daily price. Otherwise, most dealers will tell you their spread. On days I think something's too expensive is the day I ask what they're paying. Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 08/15/2011 6:38 pm I didn't say dealer, I said broker. Dealers have buy and sell prices, brokers have spreads. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 08/16/2011 7:27 pm My local coin shop often sells me silver coins at VERY good prices. He does this because he understands that I am a good customer who will spend more if I get an especially good deal from time to time. I understand that he is in business to make money so do not try to squeeze every last bit from our deals. It's a 2-way street with mutual benefits. Report this Post to the Staff
	Replies: 6 / Views: 1,030

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