What do you pay for silver?

[Double3]

Well, $199 for my last roll of 2012 ASE and for me, that was a lot!

Where can I get rolls of ASEs for $199?

[tedandcam]

Well, $199 for my last roll of 2012 ASE and for me, that was a lot!

Where can I get rolls of ASEs for $199?

No kidding...I'll take 10 rolls tonight

[mflugher]

.........I price it at 60%, thats a 1/3rd profit margin if I sell to refiner @ 90%........

Actually that would be 1/2 profit margin, not 1/3, since the 30% profit is half of the 60% you paid.

Don't make me pull the Accountant card on you boy...

What you described is technically return on investment.

Return on investment= (Sale price-cost)/cost = (90%-60%)/60% = 50% ROI


Profit margin = (Revenue-cost/revenue) = (90%-60%)/90% =33.33333% Profit margin, guess I was off by 3.33%,

What the customer is paid is cost, revenue is amount received from refiner in this case, however we assume 90% as actual refiner payout seems to vary between 88% and 94% (on gold) of the projected amount in any parcel.

[mflugher]

Just be careful with Flatware....

You need to weigh it all, and whatever the knives weigh... halve it (divide by two), because the blades are NEVER sterling..
And BTW, flatware is sterling 92.5% not 90%.

If it is your friend, just be honest.... they are using YOU because they think that you are an expert, and that comes with a cost.
Wherever you go, someone is going to make something off of them, why not you!

We have weighed out dozens of knives after breaking them down, usually as clean as we can get it a knife is about 7 dwt silver, actual range is 6-11 that I have found, however we figure for knives 7 dwt works, it compensates us a little for the extra labor in taking the knife apart, I haven't met a smelter who will take knives unbroken...

[mflugher]

.........I price it at 60%, thats a 1/3rd profit margin if I sell to refiner @ 90%........

Actually that would be 1/2 profit margin, not 1/3, since the 30% profit is half of the 60% you paid.

Don't make me pull the Accountant card on you boy...

What you described is technically return on investment.

Return on investment= (Sale price-cost)/cost = (90%-60%)/60% = 50% ROI


Profit margin = (Revenue-cost/revenue) = (90%-60%)/90% =33.33333% Profit margin, guess I was off by 3.33%,

What the customer is paid is cost, revenue is amount received from refiner in this case, however we assume 90% as actual refiner payout seems to vary between 88% and 94% (on gold) of the projected amount in any parcel.

I'm sad I didn't get an "AWW SNAP!", a "YEAAAAH BOY", or at least a "He toollll you" from this...

God bless Cardsncoins, try to leave some half boxes for the rest of us to search too...

[mflugher]

Well, $199 for my last roll of 2012 ASE and for me, that was a lot!

Where can I get rolls of ASEs for $199?

No kidding...I'll take 10 rolls tonight

Those would be the new 1/10th oz ASEs the mint will be rolling out after inflation hits a town near you...

[fansubs_ca]

1. Is 80% fair for the 90%

These are highly liquid and easy to sell, assuming you are buying them to keep for
yourself and don't have to turn them over any time soon check APMEX and NWTM
for their buy price and pay somewhere close to that.

2. What should I pay for the foreign?

Less liquid, reasonable to maybe pay a bit lower percentage on these in proportion
to how obscure it is. (Canadian is not so obscure for instance. ^_-)

3. How would you price flatware.

Not sure, but check what local places are buying it at. You may not want to touch
this unless you have a _really_ good idea what it is and/or just simply want it for
your own use. More risk so you should price in more reward.

4. If I see coins with numismatic value, I do disclose that and generally am not interested and tell them so.

I'd say tell them what it's worth to you as silver but make sure they are clear that if
they shop it around they can likely get more from somebody that specializes in
numismatic stuff. If you don't mind sitting on it a while incase they change their
minds you can offer it back to them based on the spot at that time which may still
be less than a numismatic dealer would pay but you still get the silver appreceation.
Don't promise this but keep it as an unspoken option for whatever time window
you consider reasonable. After that turn it over if lucrative at that time.

Your thoughts please. If you disagree with my position, that it o.k., but please keep it civil.
Thanks

Give them the general disclaimer that you expect it to go up so they might be better
off holding it unless they need the money badly now, however if they still want to sell
this is what you'll pay them for it. This is what I did when my freind Dave wanted to
sell 2 American Silver Eagles he inherited. Apparently he pretty much already spent
the money and owed it to annother mutual freind of ours and didn't really care where
the price was going. Since I was in a buying mode anyways and it was only 2 ounces
I paid him what Kitco's selling price was at the time, about $2 _over_ spot. (I still
saved shipping.) I paid him $24 each, I think I still made out fairly good. ^_-

If you do all this, they take the offer, and still bitch 5 years later they probably won't
be pleased with anything and are beyond hope. ^_-

[flbandit]

As a small scale buyer, I tend to be happy to get close to spot when buying or selling. If dealing with people I know, I try to give as much info to them as possible, then make an offer between spot and what the local guys are paying.