I know of some bullion dealers that buy back at spot but thats only if you originally bought the bullion from them. Does anyone know of dealers in sydney that buy gold bullion at spot regardless if you bought it from them or not?
Yes, but a lot depends on what your selling. If it's 9999 there is no GST so that is your first hurdle. PM me with what you've got - weight & purity, and I'll point you in the right direction.
Just negotiate mate. Just because they offer to buy stuff back under spot doesn't mean that you have to accept it or they won't budge on price. Especially if you are known to them and do business regularly. There are a lot of dealers who can't even get spot prices from the mint etc so they are paying more than spot. By paying spot with you they are still getting a better deal in some cases. If you don't ask, you don't get.
Can any members remember the controversy caused by low baller claims against anybody that mentioned offers to purchases at spot? How times change
They pretty much get ignored now. I don't think they get a lot of business. I especially like it when someone puts up I am looking for such and such an item- willing to pay spot. If I have it and you want it and I don't necessarily want/need to sell it well if you want to buy it you will be paying what I decide to charge you. That is the way I look at it.
Its just one of my.bars are an ABC 5oz gold bar. Not sure if anyone here would have the money ir be interested in buying that at spot.
They won't buy a 5oz at spot unfortunately. Smaller stuff usually is fine but bigger stuff they will offer you crap rates.
I bought all my bullion from Bullion Money in Parramatta. They guarantee to buy back at spot. But they re-open on monday and i needed to sell last week
Further recommendation for The Gold Man from me. Sold some stuff to him a while back. All tested and weighed in front of me. Cash deal.
Not sure if the gold buyers in the Dymocks Building on George St in Sydney are still there, if they are they buy at spot.
Hi all, l'm realitivley new to all this so could some one explain why Cash 4 gold is advertising $53.87 per g for 24ct to buy in Melbourne. Which would would work out to be $8376.78 for 5 oz but then further down their buy list they have 5oz listed as to buy at $7825. ? A $550 difference? If l took 5 oz of 24ct scrap to them l would get $8376 but if it's in a bar l would only receive $7825. Is this right? And if so why not melt/disfigure the bar and get the higher return as scrap? Or am l miss interpreting something wrong. ? Thanks to anyone who can clarify.
Interpretation is right. It's the difference in recognition of the 10% GST. The why not is that doing so would be effectively defrauding the ATO of it's 10%. They are looking very closely at this, and they do read this website. My recommendation would be not to do it.
