Had a little giggle to myself when I stopped past my local Cash converters today. I noticed a one oz round in a coin flip and asked if it was bullion. The salesman proudly pulled it out and said 'Yes this is on Troy oz of silver'. 'Um' I said 'then why does the tag say it is 28 gms.' 'It's one Troy oz' he explains as I'm obviously intellectually impaired being female. "Um a Troy oz is 31.12 gms isn't it?' Sales bloke 'Um is it' Me 'Yep you might want to get your buyers to weigh that again just in case they have made a mistake.' Then again for the $99 they were charging for a generic round I'm surprised he didn't try to tell me it was gold.
I went to my local one on Sunday for the first time. Just wanted to see inside one. I saw a 1994 1 oz nugget for 3000 dollars. I sidled up to it and saw it was scratched to buggery and not in a case. I asked the bloke what he would realistically take for it. He told me spot was $2000 dollars and he had plenty of offers around the $2250 mark. He cold only give it to me for 2500. He said he could shift any gold at 2300 and as this was a rare piece the premium was higher. I asked him if he would like to buy any gold I could get my hands on for that amount $2300. Funny thing is when I made this offer he was all of a suden to busy to answer.
I spotted this in freo cashies. I bet it'll go to melt before a customer buys it for that outrageous price.
I've offered to sell them kilo bars at 4% over spot since they can apparently get 8% from a refinery. "That's not how it works mate". "I know, mate".