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TTAZZMAN
14th April 2008, 21:54
I hear all the time about people tradeing Gold in for silver and vise/versa.

I have been a buy and hold person for years

I am curious about the conversion premium people were charged and what i should expect to pay if i have a coin dealer do some converting for me?

Thank you

cerrebrox
16th April 2008, 14:47
I don't think there is going to be any "conversion premium" at all. You will typically be offered under spot for the metal you have (or spot if in heavy demand) and the dealer will charge you his premium over spot for the bullion you want to convert to and the trade is done (with any amount in transaction over or under being dispersed by your or his cash).

Irons
16th April 2008, 17:33
All the silver and gold sold in my area go's to a PM refinery for spot price if you bring it there.Maybe they would exchange it on site? I dont have the answer to that but its worth looking into, you could always call and ask.

Da Flyin Lion
16th April 2008, 21:47
Iron,
Is the PM refinery you speak of in the Detroit Area? Where?

Do they pay spot price for silver if you sell it to them? Do they sell any of the bullion they get before it gets melted?

buggles
17th April 2008, 11:12
I'm curious to hear responses to Lion's Q; also I'm curious what is the best way to find out if/where there is a PM refinery in an area. I suppose I could ask a local coin shop. I was curious how they might be listed in some type of directory.