Florida Coin Shop Owner Tells The TRUTH About Gold & Silver Pricing & Trading | Must Watch
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- เผยแพร่เมื่อ 6 มิ.ย. 2024
- Florida Coin Shop Owner Tells The TRUTH About Gold & Silver Pricing & Trading | Must Watch #Trending
Serving central Florida for over 8 years, Vermillion Enterprises is Spring Hill, Florida's premier coin shop and gold dealer. Always buying and always selling coins and precious metals like silver, gold, platinum, palladium, and rhodium.
Give Vermillion Enterprises a call at:
(352) 585-9772
Visit our Spring Hill coin shop, located at:
5324 Spring Hill Drive
Spring Hill, Florida 34606
Monday - Friday: 9AM - 4PM EST
Saturday: 9AM - 2PM EST
Sunday: Closed
To learn more about Vermillion Enterprises visit our website at:
vermillion-enterprises.com/
Shop our new online coin shop at:
springhillcoinshop.com/
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#JunkSilver #Gold #Silver #Cash #VermillionEnterprises #Vermillion #SpringHill #Florida #AmericanGoldEagle #SilverEagle #SilverBar #SilverOunce #Kitco #Apmex #Coin #MorganSilverDollar #SilverDollar #PeaceSilverDollar #Krugerrand #MapleLeaf #Cashforgold #JMBullion #SilverTowne #Engelhard #Platinum #Palladium #Rhodium #NGC #PCGS #ICG #ANACS #Currency #investinyourself #silverstacking #silverstack #goldstacking #coinshop #coincollecting #numismatist #numismatic #investing #investor #ideas #knowledge #recession #inflation #smartmoney - บันเทิง
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Please keep comments civil.
Growl! Arrrg! Anger! ok, that's the most upset I can get at the moment. Have a great day! Thanks for sharing the info!
Tryin’ to go my best DeNiro impression from TaxiDriver….
Hey…Jue’ talkin’ to me? Lol. StackOn.
I feel like I am at a gunfight when I hear that introductory music.
Remind’s me of the spaghetti westerns my father grew up with 😂🎉😂 be it I was born 85’
Thank you for watching
@@JFEnterprize Thank you for watching
Because that is exactly what's happening when you go toe-to-toe with Brian and negotiate an across-the-counter gold & silver purchase.
@@frankabler lol
Hit that like button. We need to hear more honest reporting like this.
Thank you for watching
I did not understand about the pawn shop business, so that goes for everything they give money for, like instruments, hold for 30 days in case the previous owner wants to purchase it back? Also, 2333.00 per ounce, never thought I'd see that
If you local coin shops are not giving you a fair deal I say sell/trade customer to customer.
just keep safety in mind
Thank you for this video. I just went to a jewelery shop today asking what they paid on scrap. They said 28.90 for gram, when i looked at scrap calculator it showed 14k was aroud $43 a gram today. So seems they are paying 66% of melt. Glad to see that isnt the price everywhere.
Thank you for watching, we appreciate it
If someone can’t handle precious metals fluctuations they better not get into cryptos 😂 😂 😂
#truth
You mean PONZI CRAPTO.....Good luck with CRAPTO, FIAT PAPER BACKED
There is no excuse for paying someone $9-$10 back of spot for odd-weight or odd-shaped silver bars. The reason is that since it's pure silver it can be taken directly to the refinery and sold to them for close to spot. That LCS in Wisconsin is just a very dishonest/greedy person. Brian would never do that. He would just offer the amount of money that he would get from a refinery minus a small commission for the shop to keep the lights on and the coffee pot full. IMHO
I like your visual demonstration of how metal exchanges can work enough that if you posted additional videos of just demonstrating this again another way I would still watch it.
I'm one of the newbies so thanks for the heads up good job thank
Thank you for watching
Topics for future show, discussion. Trading in silver for gold. Is it ethical for the shop to take commission on both sides of the sale? Does it change the scenario if the silver was consistently bought at that same shop?
The shop will claim that they are a business, and they need to make a commission on all transactions. Anytime that an employee's time is spent (and both sides of an exchange involve an employee's time), money needs to be made to cover that employee's salary, to keep the lights on, etc. I've thought about this myself and they will most likely try to categorize an "exchange" (say silver for gold) as one purchase (silver) and one sale (gold).
Yes it’s ethical but a good shop should give you a better rate.
Brian, thanks again for going above and beyond to give insight,wisdom and help to the P M
community.
Thank you sir, we appreciate it
Ahhhh yes. A Brian and Tim FIRESIDE CHAT... Just sitting back and commiserating about our favorite metals. Thank you. Usually I tend to speed these things up, but for this one, i just sat...listened...consumed...and pondered about whether if I should unload a little (Big Bills) or hold. StackOn.
Thank you for watching
Odd weight stuff sound like old Sterling bars and rounds (Franklin mint, Hamilton mint) , or foreign coinage. which still sells for back of spot anyhow.
Great video as usual. Imma just stay put on PMs right now. It's too Crazytown, and I'm a buy-and-hold type anyway. Thanks for the heads-up regarding a timeline for interest-rate cuts and a stock market break-out later this year. I guess I need to take a road trip to the Tampa area one of these days. Spring Hill looks like the epicenter of cool PM dealers.
definitely a very volatile market, thank you for watching
Question: do metals dealers keep track of charts to get an idea of where the market is going?
i can not speak for anybody else, i do not personally though
Great video guys 👍👍!!!!
That’s for the information
🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
Thank you for watching
Thank you for taking the time to share market insights. Very interesting. Now back to work. TCB😊
Thank you for watching
The economy especially the housing market is 2008 all over again! Waiting for the bubble to burst. The average rent on a house nationwide is around $2600 a month! Completely unsustainable. The new generation of owning a home (the American dream) has left the building.
I agree with the unsustainability, but not with the reasoning...hedge fund operators are largely to blame for the current situation, where as before it was predatory lending
Buy silver every week boys the dumb money is selling the smart money in China and India is buying.
Hope that was civil.
its a good plan
Brian
Could you do a detailed video of how you got into the metals business for the community. We greatly appreciate your shop and knowledge about the industry!!!! Thanks
Great video!
I would love your thoughts on whether one may expect to receive a higher price when selling libertads to a shop.
I know they command a high premium when buying, but does that translate to a decent premium when selling back?
That's sad. I like physical ownership, but the sales situation still makes me very nervous. I would love to buy more variety of product, but instead I go for the basic, generic, common product. Wisconsin was a state that still had sales tax on bullion I think it was only eliminated couple months ago, residents typically have traveled across the border to Illinois to buy bullion and not stay locally.
correct, they have eradicated the sales tax in WI
If you swap more than 10000 dollars worth of silver for gold coins are there forms to be filled out with an even swap?
I'm waiting for that $26 silver.
Me too
It wasn't that long ago really
@@Cougelly1999 yes maybe 3-4 weeks
@@buyystocks Oh sorry, I thought you were replying to my question about pawn shops 😸
Great content today on many fronts Brian..thanks!
Thank you for watching
Very informative and I think accurate. Great vid! Keep up the great work! 👍👍👍
Thank you for watching
Awesome as always guys, have a great weekend!
Thank you for watching, and you as well
FWIW... the Federal Reserve always goes to great lengths to appear apolitical so I doubt they would raise or cut rates at their September meeting on any election year from fear of having either side point their finger at them and accuse them of costing them the election. With regards to today's market action, gold was already down $40 when the pre-market opened at 4AM. The cynic in me can't help but think someone already knew that the jobs number that was scheduled to be released at 8::30AM would come in extremely hot...
No doubt, D.C. isn't called district of criminals for nothing !! Someone leaked info like usual n made a bundle.
Nice weekend all!!
Thank you, and you as well
Another great video, please keep them coming. I always learn something watching them and I look forward to visiting your shop in person this summer. Can you tell me what feed you use for your spot prices and if you base your rates off of the Ask or Bid.
Thank you for watching
Hello, I agree, interesting, when he said he'd melt that bracelet---when I did not have much to spend, I used to buy vintage Danecraft, Beau, Birmingham sterling bracelets to wear, not only because they were nice, but I thought as an investment. Don't laugh! Wondering if you ever get silverware sets in like Kirk & Sons, Towle, surely those aren't melted down? Even Jensen or Tiffany, or Orange Blossoms? Great practical use for silver other than coins. Plus pre-33 rocks!
Awesome invitation to your business.
Thank you for watching
Thanks for all the information! Very interesting
Thank you for watching
Ironically there are so many people out there who would love to find any kind of silver at spot. Facebook silver groups or other social media metal groups particularly. Ebay is another one. The buyers for spot silver are out there is just the venue where a seller does business.
That would be an egregious bid not offer. I am in the bond business and yes people do give throw away bids for paper we really don’t want to hold, if the customer hits the bid great we can make money on the trade if we have to dump it
it happens in this industry to, right now most commonly happening on collectibles and diamonds
Is it acceptable to send in gold jewelry for evaluation that may have precious stones attached, and what is the process for handling those...just send the stones back to the seller and deduct that cost from the payment to the seller?
i recommend keeping the stones, do not send those in, you can remove most with sidecuts or pliers
@@vermillionenterprisesthx alot
Really good question, some settings had gold over platinum and precious stones set in
What is your favorite silver products to buy Brian? I try to stack what a dealer wants to buy regularly because it’s no good if a dealer doesn’t want to buy at a much later date.
Eagles and rounds are probably most common for sure
1 oz generic silver rounds
1 oz American Silver Eagles
1 oz American Gold Eagles
I’ve been stacking mercury and Roosevelt dimes. I hope that’s not a mistake
@@Slim1962 not at all, 90% good way to go
@@Slim1962 you’re doing the right thing
If i sell you silver and ship it and you get it Monday, do i get average price of silver on Monday, or the price of silver when you open the box? If its the latter, how do I know if its a fair price? Just wondering, high low on silver can be as wide a dollar as you pointed out
if you do not like offer, dont take it
@@vermillionenterprises and the offer comes when you get the box? Fair enough..
I think the only fair way to do these types of transactions is to lock in a price on the phone before you mail it and the PMs must be postmarked within 24 hours. That's the way the big online shops work these types of transactions.
@@frankabler I don't like uncertainty. Friday, the high low was wider than. $ 2.00. i don't really care how they do it but I want to understand rules before hand. I was ready to sell some but didnt due to the uncertainty of price. Yes, I dont have to accept the offer then what. Leave it at the dealer until my price objective is met or have them send it back? And I still don't know how the offer is calculated. Im not complaining about the potentil offer, I want to understand how the offer is calculated. Is it the 9 am price, the 10 am price, the low bid of the day, the avg bid of the day. When Tim opens up the box. The official answer is , "if you dont like it dont take it. "That doesnt answer the question.
I have one LC selling, or trying to sell silver rounds for $40.
Prob what my LCS is up to 😮 when spot was 24 I left at 33/oz. Figured I’d buy to support them. F that 😒…. never again. Is yours at least paying over spot $5! 😂🎉❤
They deleted it. 😂 I figured we can’t shame places on YT hence why I didn’t mention mine 😕 🤷♂️ price is taking a dove today huh 😮
@@JFEnterprize yeah, I'm constantly getting in trouble with youtube. I would mind buy if this price keeps tumbling.
Next week you might want to put a pre-recorded message on your phone next week. "Don't Panic, Spot price will be very different in 30 minutes".
crazy volatility, dont remember ever seeing it like this
@@vermillionenterprises I'm worried, and I bet you are too, about the volatility reaching a point where people have to dead-lock positions and become inflexible. That is when things really start breaking. It happened with the peanut market and caused huge disparities between brand prices. JIF was at $3.00, Skippy was at $5.00, Generic was stuck at $4.00 and nobody could change prices without taking a bad hit. Buyers in GA/AL could not make adjustable offers and growers couldn't get a locked price until they started off-loading. Some growers and buyers either died or had to massively reorganize.
Bring back Brian in the buy it now videos please 😊 , he is the talent !
LOL....awesome #facts
Tim
Maybe think about doing a video on how to calculate gold jewelry similar to what you have done for constitutional silver. I.E. conversions for 10k, 14k, 22k etc.
How do I calculate how much my scrap gold is worth?
go to a gold dealer, they will be able to accurately calculate it for you
No I'm not buying till silver goes back up to at least $31 an ounce LMAO 😂😂😂😂
LOL...i like your style sir
Do you guys purchase .925 Scrap Silver Jewelry? If so, also 90% of melt?
We do not purchase sterling silver jewelry anymore, unfortunately to much bad material coming out of Asia
@@vermillionenterprises thank you. When you mean bad material, do you mean fake stuff that is passing .925 tests?
@@lockoutxx just plated or lower quality silver marked 925
Seems like volatility prevents fungibility up and down the ladder
hmmm, maybe, i will have to think about that
Awesome
Thank you for watching, we appreciate it
I am curious on Brian's thoughts re him not understanding people wanting slabbed pre-33 gold vs. Slabbed ASE...educate us.
no idea why
What about scrap platinum?
We buy platinum jewelry at 90% of value based on weight.
all good points .xs of verbosity.
Thank you, we appreciate it
I think gold and silver are severely undervalued.
Thank you sir, for watching
@@vermillionenterprises For a company I have never done business with I am extremely interested in watching your videos. I want to buy something eventually from you.
👍
Thank you for watching
I don't agree with the money market $7.3T statement from the market analyst. There is currently only $400B in the reverse repo, which is the liquid cash being held by the federal reserve on behalf of the large money market funds and banks. If the short term interest rates stay put as it looks like they will until at least Sept, that reverse repo money will stay put. Even then, the short term rate will only drop 0.5% at most by November. But again, there is only $400B of play money.
Wild wild west
Florida!!!!
I think he is trying to sell Kilo's...?
maybe
Might be the same shop (not sure) was buying ASE solid tubes at spot and selling Spot + $15 a year ago. I traded them to Brian @ $13 over spot for Gold....
we appreciate the business....thank you
Beware silver will sky rocket any time within this 2 mths
maybe, maybe not
Maybe, maybe not. It might do the opposite… Or just trade in a sideways channel.
The economy is doing great ! “Gold price sinks as U.S. economy created 272K jobs in May” SELL it all - before it becomes worthless…