Beware of the lowballing tricks of some bullion dealers

Discussion in 'General Precious Metals Discussion' started by Aurora et luna, Dec 1, 2011.

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  1. RetardedMonkey

    RetardedMonkey Active Member Silver Stacker

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    You're an honest guy though.
     
    RetardedMonkey, Dec 2, 2011
    #21
  2. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    A 1 kilo 'self titled' bar was delievered to me through the strongbox shoot here recently.

    It wasn't till I got home that I noticed a fresh (untarnished) core hole almost all the way through.

    I'll check before leaving next time :(

    ....not happy Jan
     
    Clawhammer, Dec 2, 2011
    #22
  3. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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    Claw, What exactly is a "self titled bar" and what is a strongbox shoot?
    If the dealer/seller sold you a cored bar without telling you, he deserves to be told off in no uncertain terms
    I would ask for a refund of at least $10 to compensate for the lost silver or better still an undamaged replacement.
     
    Aurora et luna, Dec 2, 2011
    #23
  4. nicwinner

    nicwinner Active Member Silver Stacker

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    some bullion dealers = low ball cheater
     
    nicwinner, Dec 2, 2011
    #24
  5. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    That is shocking!

    A clear abuse of the power imbalance between a dealer and a member of the public.

    Would a dealer let you damage their stock before you made an offer on it.

    Shame you don't know who it is, I would start buying gold bars just so I could boycott them.
     
    Jislizard, Dec 2, 2011
    #25
  6. metalzzz

    metalzzz Well-Known Member

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    Names or it never happened
     
    metalzzz, Dec 2, 2011
    #26
  7. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Well we have pic's so it did happen :p
     
    Jislizard, Dec 2, 2011
    #27
  8. bron suchecki

    bron suchecki Active Member Silver Stacker

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    Is this a business opportunity to produce bars with holes already in the middle so both buyer and seller can see it doesn't have a lead core? :)
     
    bron suchecki, Dec 2, 2011
    #28
  9. Nugget

    Nugget Well-Known Member Silver Stacker

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    If I ever try to do that when I buy from you please feel free to put me in my place ;)
     
    Nugget, Dec 2, 2011
    #29
  10. notanother

    notanother New Member

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    There is one advantage to that RD, it's easy to get to know the 2 main coin dealers on a name basis, trust is built up and this smooths the way when you want to sell back. At the big peak at $15 silver I took 6-kilo back to Michael to fund a hobby purchase. 4 -1KG bars and the 200 odd rounds. He didn't even look closely at the bar, just counted out the coin and went out back to get my cash. I had probably bought half that off him in the first place and he knew that. I wouldn't go near the BIG shop in the city. Too many cameras and ID checks for my tastes hey.

    As an aside, if anyone is thinking of buying a lot of foreign silver it would be a good idea to call a shop first and ask them what they would pay you for it. For a given ASW it is a lot less than domestic silver I can assure you.
     
    notanother, Dec 6, 2011
    #30
  11. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    While on the subject of dodgey tricks from dealers
    There are a couple of gold buyers who advertise one price with an * and than subtract 3%-5% allowing for price movement :rolleyes:
     
    spannermonkey, Dec 6, 2011
    #31
  12. millededge

    millededge Active Member

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    Ive had a PM certicard pulled from its cladding to run it through an XRF

    The dealer was a significant one, so I dont think the certicard itself means much
     
    millededge, Dec 10, 2011
    #32
  13. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    The XRF machines read through plastic ,so no need to pull them out of the plastic

    How about the latest ploy from some gold buyers
    They quote 1 price on they're web site ,BUT have an * conditions = 5% variation the buy price
    I'm not naming names :)
     
    spannermonkey, Dec 10, 2011
    #33
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