sydney dealers buying silver for spot
- Thread starter dozerz
- Start date
I'll take a stab that Sam from Liberty Bullion would be the only one , I'm "ASSUMING" so .
I think it's insane / retarted kind of way that dealers would pay below spot for bullion .
It's like going to the banks & only getting $98 for your $100 note
I think it's insane / retarted kind of way that dealers would pay below spot for bullion .
It's like going to the banks & only getting $98 for your $100 note
thanks @spannermonkey will give them a call and see, the only other place i can see is jaggards but they still paying under spot (currently $83.58 when spot is $87.13)
Thieves I tell you
Frkn thieves
The reason I bought very little silver since 2015 is that the US dealers like Apmex & Provident changed to where they kept all the premium. All pricing is in US Dollars. For example, when silver was $20 and they were selling a lunar for $35, they offered me $20. Now the situation appears to be far worse. Most dealers won't list their buy prices. Provident does but the silver prices are horrible. With spot at $67, they sell a 1oz ASE for $73 but will only pay $62 to buy.
I have bought less than 100oz recently and that is probably going to be it until things change for the better. The US has a glut of 90% US silver being sold by individuals and maybe that is affecting all US silver buy pricing. Provident buy prices on gold aren't too bad and I picked up two 1oz AGEs when they ran a special at spot. Of course their spot is more than actual spot, but it was closer than most dealers.
Yeah this is definitely the time to buy with so many deals out there.
The smaller coin shops are getting desperate for sales with everyone just selling.
The smaller coin shops are getting desperate for sales with everyone just selling.
Hi all, first time in a decade or so on this forum.
I'm flying back to Sydney to sell some 1kg ABC and Pamp silver bullion. I was planning to sell to a dealer, but given the timing with the holidays and my short stay, it might prove difficult.
If you're in the Sydney area and interested in buying, send me a PM. Whilst acknowledging the hypocrisy of me being a 'new member', seeking 'well known' members only please.
Cheers
I'm flying back to Sydney to sell some 1kg ABC and Pamp silver bullion. I was planning to sell to a dealer, but given the timing with the holidays and my short stay, it might prove difficult.
If you're in the Sydney area and interested in buying, send me a PM. Whilst acknowledging the hypocrisy of me being a 'new member', seeking 'well known' members only please.
Cheers
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Thanks so much @spannermonkey - I googled for hours and couldn't find any Sydney dealers that buy at spot.
Would you happen to know if their '100% of spot for 1oz gold' is per item or total weight? Doesn't mention it on their site. Depending on how it's interpreted you may only get 98% of spot if you're selling back 2oz of gold.
Would you happen to know if their '100% of spot for 1oz gold' is per item or total weight? Doesn't mention it on their site. Depending on how it's interpreted you may only get 98% of spot if you're selling back 2oz of gold.
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you can sell your gold atm spot here.. post it at buy/sell thread
Call them & find out
Given the current dealer premiums being placed on coins, rounds and bars now I'm surprised that more of them aren't paying spot to sellers.
Thanks for your replies @bubblebobble2 @spannermonkey I'm just doing some research at the moment for when I'm ready to sell - both are great options, I also love the idea of the monthly Sydney meetups to trade with stackers
Quick update for those around the Newcastle NSW area... there's a bullion dealer there (Newcastle Gold Buyers) now currently paying 100% of spot for silver. A couple of weeks ago they were 97%. Never dealt with them before so can't offer any feedback.
With up to a 12 week delay from Mints/refiners , about time dealers paying spot considering the margins these day .
If I was still operating my business these days , I'd definately be paying at least $50 over spot for 1kg bars walking in the door .
Yeah the premiums have really gone bonkers. The dealer I mentioned is selling 1kg PAMP cast bars for over $6,100 AUD which is an eye watering $1,100 premium! To be fair, they probably only make a couple hundred on that.
Are dealers buying the 'junk' silver as well? I have a few kg of 50% pre-decimal florins that I'm thinking of offloading at current prices. I'm assuming no one is paying spot or even close to it for the junk stuff, but curious what the spot % discount might be on something like that.