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View Full Version : What kind of payment do you get for PM's?



clr8ter
29th June 2008, 09:29
Has anyone here sold a decent ammount of PM? If so, how did you get paid? My only sale to date was 56 40% Kennedys, and it was a cash sale at a coin show. Is it possible to get paid in cash for larger ammounts?

SilverTrees
29th June 2008, 10:40
anything is possible :p

amadeus
29th June 2008, 11:18
Why not?
As long as you find a willing buyer, why wouldn't it be possible?

JesterJay
29th June 2008, 13:08
I would think that in this area of business you would (and I have) found many who deal MOSTLY if not exclusively in cash. Such as gun dealers who deal in bullion also. You can probably think of others too if you apply your powers of mental recall.
The Cool Guys use cash- Like ME,
JesterJay



Why not?
As long as you find a willing buyer, why wouldn't it be possible?

clr8ter
29th June 2008, 18:21
Well, I don't know. There are guys out there who have the on-hand cash to cover a 10 or 20K buy? Times maybe possibly a couple guys a day? That's a lot of money......

JesterJay
29th June 2008, 20:46
Anything of value will have a buyer for it.
IF you "found" a gold coin on the ground today and knew nothing about PM's you would be able to figure out where to take it to get cash, INSTANTLY.
And with a bit of work you would find a place to get a good price.
And in the future anyone who is as experienced with PM's as any of us WILL be at that time in the future, WILL know where to go to sell.
And I know probably 3 different INDIVIDUALS right off the top o' my little noggin', in my small town of a couple hundred thousand people, that could/can/will/do have the cash to make those size of purchases.
I am fully invested in PM's right now but a year ago I could have made numerous buys of that size. And I am just me, not a dealer.
They are out there. They will be where you need them when the time comes. Silver has to come from somewhere and is NEEDED all the time.
There is always a buyer for the right price,
JesterJay



Well, I don't know. There are guys out there who have the on-hand cash to cover a 10 or 20K buy? Times maybe possibly a couple guys a day? That's a lot of money......

balou2
29th June 2008, 21:24
Cash only in sales, though I did take a check once. Made it clear 20 days, and the guy was local.

As for large purchases, a friend of mine had a medical emergency and sold $60k in gold in 3 days...cash. As JesterJay said...they're out there, you just have to know where to go.

SilverWhore
29th June 2008, 22:58
The guy I deal with most of the time owns a store and deals with jewlery, bullion, coins, currency and antiques. He has enough cash on hand to pay out big and if not, his bank is not a half mile from his store. One guy came in to cash out all his silver and he was paid over 40k on the spot.

clr8ter
30th June 2008, 08:12
Thanks Silverwhore & Balou2. That's what I wanted to know, that there are guys willing to pay cash instead of a company check. I wasn't sure, I know a lot of people favor checks for large transactions.......

SilverWhore
30th June 2008, 10:39
No problem. In my experience, there is sort of a certain type of dealer to look for who will pay that much in cash on the spot. Usually people who do bullion a little on the side or small shops dealing only with coins including foreign stuff won't really be packing a money roll. If you know of a place that takes practically anything with precious metal in it and deal with estates and do alot of dealing overall, they will have the money ready to take everything off your hands. I know of two such places close to me and probably more in the city, but the tiny coin shops and and gun dealers who do coins on the side wouldn't even be looking for ALOT of metal anyway whether they had the cash or not. So like I said, typically the big spenders have some of everything in their shop and can also afford to sell cheaply and pay fair prices when buying from you since they make most of their money on very big deals.

hekura
30th June 2008, 11:51
Hi All:

I have just returned to the US from Belfast/Liverpool. I spent some of my time in Liverpool chasing the shiny, but after three days of putting my feelers out there, I was only able to locate a single coin/metal/used jewelry dealer. I navigated the journey to the bazaar where the dealer was located via interconnecting tube, and began negotiations for silver...etc. Good news for silver...the dealer stood fast at one dollar US per gram on silver...and he had some SWEET 100g bars...but the price was not suiting me. Spot that day was $16.48 US. I had a few 1/10 z gold eagles, one of which I revealed, but that did nothing to sweeten the silver deal. The dealer did perk up, a bit at the sight of the eagle...wanting it. So I s-l-o-w-l-y, started to put it back in my jacket, and the dealer almost embarrassingly, offered gold sovereigns in trade.

Now that there was a deal on the table, I pushed for, and received two gold sovereigns for two 1/10 eagles, and 100$US. By my calculations, I came out about .18 oz ahead in Au. He was happy, I was happy...all was well. After the deal I inquired about other possible buyers/sellers, and I got the feeling the guy was taking me into confidence (although it might have been an act). He told me to be VERY careful, and that there would be few people who would even consider such a thing. I rechecked my sources before I left Liverpool, and even ventured to Chester, looking for the illusive coin/metal dealer...but could find no others.

My experience in Northern Ireland...Repeat.

My question...if PM's are treated like a fart in church in the UK...what's up with that? Also, how the he** will we market any pm anywhere else in the world, less connected?

Have a great day.

J

pkrebaum
30th June 2008, 13:18
Try Germany. There was an interview on silberinfo.com with the Royal Canadian Mint, and the RCM said that Germany was one of their biggest markets for Silver Maple Leafs. I also read that out of all Europeans the Germans are some of the biggest savers. If they're smart savers then they are stocking up on PMs.