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View Full Version : CUTTING OUT THE MIDDLEMEN...little profit on the side?



silverbullet
1st December 2010, 21:09
Ok, let me just start off with I am not in PMs to make money. I invest in them simply for the fact to protect my dollar... Scratch that... My wealth from the "controlled inflation" that is being shoved down our throats for our "own good" and to protect against the inevitable collapse of this economy.

Now with that being said, I'm just curious as to anyone on this forum in ADDITION too protecting your wealth, anyone buy and sell just to make a little side profit? I've been contemplating trying to start acting as a MINI private seller/dealer just to make a little extra money but also to cut out the middleman for the people in my area. So that they don't have to pay the big boy premiums when they buy and I don't get the cutback on spot price when I sell.

I'm just curious to your experiences with any of this. The good, the bad, etc... The only difficult part I can imagine is locating a good source to buy from that has decent prices compared to spot $...

Thanks everyone...

Zeus
2nd December 2010, 08:44
If you are in this to "protect" your wealth.............then you will buy and hold............Even one word of playing the trading game shows your other motives.....so learn to protect your wealth.........and hold............good lord.......

maplesilverbug
2nd December 2010, 10:11
Yup.
Been doing it for 2 years now.

Search my posts.
I churn 10% of my stack; reinvest the capital for re-sale; buy more oz. for my core stack with the profits.
(I think my stack has grown 25% oz.-wise in the last 2 years)

Use non-fee based sites (eg. craigslist) to sell.

With the record high prices it is getting tougher to find buyers.
But it is possible.
And worth it.

Old Duck
2nd December 2010, 12:50
Buying is the problem. Unless You can buy 1n $25,000 to $100,000 lots you won't be able to buy at or near spot bid price. Check out the US Mint and see if you can get on their dealer list. Good LUCK.

maplesilverbug
2nd December 2010, 19:23
I can remember reading somewhere, maybe from Hommel, that dealers make around 5% profit margin.

So you can start with that and go from there.