Silver Tards, why are dealers such crooks?

Silver/Gold spot and silver fair market value are two different prices.

Oh, so dealers/coin shops get fair market value, and costumers/buyers don't?

WTF???

7 over spot?

just buy bullion it is usually about 3 over spot.

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The simple age old economic laws of supply and demand apply to and are the answer to your question. As for not being able to sell for more than $2 under spot, your trying to sell to the wrong person. Put an add on craigslist and meet the buyer at a police station parking lot for a safe and camera monitored transaction. Many have parking spots dedicated to this use.

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If your new here, gold/silver fair market value and gold/silver spot decoupled at the beginning of the year.

It's the wild west out there OP! Supply and demand! Capitalism at it's best. Best strategy...Buy it but just don't sell it. That way you'll always be WINNING!

i don't understand why you don't want coin dealers to make any money.

Spot for cash is always even money. Needs extra grease for the seller to be interested.

Remember, the value of silver is not going up or down. It's the value of the dollar that's changing.

But what's the point in that?

25 years ago I bought to make money. As it turned out I bought high and sold low. Or in other words I took a bath, like you know, I got ripped off! Lesson learned.

This time around, (7 years ago) I bought to store some wealth. And now it looks like a good time to cash out and come out ahead. (Unexpected bills popped up that need to be paid.)

I paid $3 over spot for junk, and they want $2 under spot to buy back.

Fk that. I'd rather wait until it's time to throw it in the streets before I take another bath on it.

All I'm asking for is spot. Is that to much to ask? 'They' say yeah, and I say go fk yourself!

You mean like, I go give them my hard earned cash to hang onto their silver for them for 7 years then go give them back their silver and pay them for hanging onto it for them?

:scratches head:

eBay has a fair market value at around $34.00 an ounce which is about $5 over spot. If you can't figure out how to sell your silver for anything more than $26.00 an ounce, that's your own fault. If you think now is a good time to sell, because the dollar is weakening, and think the manufacturing report this morning was real, but have no understanding of the J-curve.

Then, I recommend you just don't sell.

Thank you my friend for this sound advise!

Taken to heart!

I'll hang on to it.

Manufacturing report this morning=false to prop up the dollar. Unless, you have to sell it to pay bills. Hold it or sell it on ebay.

Well you can always start tricking!

All 'dealers' are crooked. Prove me wrong.

It's not a good time to cash out. This is barely beginning. Hold.

I don't play the spot game. You would be suprise how many dealers don't either when push comes to shove....learn to walk away.

My LCS buys SAEs for $2.50 over spot.

They have to pay rent on a secured retail space, so they buy coins for less than they sell them, and also make a small profit.

If you don't like the offer, don't take the offer.
If everyone refused, the buy price would go up.
Free enterprise is a bitch. The dealer isn't there to help you make money. He is there to make a profit.

Sell it on CL or ebay or to a friend if you don't like the dealer earning a living.

My son sells all sorts of stuff on facebook.
In very short time, too.

buying and selling are the mechanisms that allow prices to go up or go down

it's called 'market forces'

the very cornerstone of capitalism

humans are animals and have a deep instinct to compete

whether it's fashion or retail or the stock market, we all try to capitalize on our abilities

capitalism is an important human invention that allows humans to express their competitive instinct without killing each other

capitalism keeps us civil toward each other

that's why socialism never works

Dealers don't buy and sell silver for their health. they need to make profit on the transactions.

Metals dealers gotta feed their kids too!

I have no problem paying a premium to an honest dealer who did his job and is selling me REAL gold & silver!

- MC

Coin shops are businesses. Do you expect them to buy and sell silver for no profit? moron

The dollar is going to be worthless soon. Pay the premiums. If the dollar goes to zero, silver goes to infinity.

Hopefully with new Quantum Financial System banking the banks will deal in gold and silver. Way better than pawn shops doing all these transactions.

When metals are considered currency things will be different.

I usually just sell privately on offer-up. I can get spot rate that way.