Glad you all were okay. Your videos kinda orient me for the day. My question for Summit Metals -- "Do you think that negative feedback from bullion dealers and collectors will persuade the U.S. Mint to fix their ugly borax residue milk spot problem, or should we just give up on them and stack non-defective 1921 Morgan dollars?"
Question: Where are they receiving their metals from. Also, why does it take so long to receive packages. How long have the brothers been in business. Why Valcambi 1gram gold not fit in the 1 gram gold case you guys sell?
I have this theory that as prices change up and down so does the premiums adjust either up and down the opposite direction. So you really don’t make anything buying and selling and you basically are paying the same amount for the same amount of metal. The only way it works is holding for years and years and praying it’s at least went up double when you finally sell. And at that point you might as well been invested in pretty much anything else. You should only have around 3-5% if your be in metals. They sadly are manipulated and you’ll never make much profit. It’s all fixed. The only ones making a little is the dealers and shops since they always guarantee to buy below spot which normal folks can’t.
Everything you said is basically true,VERY SELDOM does the price of precious metals not do what you said. It is all about the dealers making their profit... making a profit is what a dealership is all about but they go way too far. The spread that they create between buying and selling is ridiculous like you said you have to to wait till the price goes up so much that you can get back your premiums and hopefully make some money. For that reason I don't even sell anymore I just have my stockpile for when the shit hits the fan or when I die and pass it along
Question for summit. How has the incoming administration changed your buying and or stockpiling of inventory. we have heard about comex deliveries to US as arbitrage etc. Is this on your radar as a dealer?
Quick question. Some years ago, I don't know how many has been it because time flies it's probably been 8 years ago, I did my own personal little study that covered maybe the previous 3 to 4 years and it seemed to me that mid-January through the end of March precious metals prices went up every year and then drop by April and I was wondering if you have ever noticed that trend
I'm no expert on Britannia coins but I don't think they make a proof. All their bu coins look like proof. That's one reason I buy them besides the fact that they have like four or five different types of built-in security to stop fake coins
I have this theory that as prices change up and down so does the premiums adjust either up and down the opposite direction. So you really don’t make anything buying and selling and you basically are paying the same amount for the same amount of metal. The only way it works is holding for years and years and praying it’s at least went up double when you finally sell. And at that point you might as well been invested in pretty much anything else. You should only have around 3-5% if your be in metals. They sadly are manipulated and you’ll never make much profit. It’s all fixed. The only ones making a little is the dealers and shops since they always guarantee to buy below spot which normal folks can’t.
I saw that video too but I disagree... bullion dealers have to make a living so yes but they are making a killing with their Buy sell spread.. it is outrageous! I totally agree with the gentleman above, the only way we little people can make money is to hold on to it for years and hope that the price has skyrocketed since we bought it so that we can sell cheaper to someone else but still make a profit. That is why I don't sell anything, it is for when the shit hits the fan or the pass on to my family when I die
@ eBay gets 13% of the sale plus a the credit card fee. You have to take pictures, upload them, create the listing, pack and ship the product and deal with irate and shady customers. If you own a shop, you pay rent, utilities, buy display fixtures, pay insurance, pay taxes on profits, pay all 26% Social Security/Medicare taxes and 13% match on employees. So if you are not going to operate a storefront or sell on eBay, the question becomes why do you expect to reap a windfall profit? Why do people think they should get retail or eBay price when the only thing they did is drive to the store and walk in?
Thanks Louie 😘
Hey Summit..Please put BU or conditions of ur pieces in the description..
Glad you all were okay. Your videos kinda orient me for the day. My question for Summit Metals -- "Do you think that negative feedback from bullion dealers and collectors will persuade the U.S. Mint to fix their ugly borax residue milk spot problem, or should we just give up on them and stack non-defective 1921 Morgan dollars?"
Thanks for sharing that silver pamp roll deal on Costco yesterday! I snagged those up quickly for $28.80 each after the 4% back ❤
Glad everyone was okay Louie. Welcome back!
Thank you so much. Thank God for air bags!
Louie, That BU Double Eagle at Bullion Exchanges would have a hard time making a MS62! As usual, you are the donut that goes with my morning coffee.
Happy Donuts! I'm not looking for high grades, just beautiful cheap pre-33. Any Gem is ok with me.
glad to hear everyone is okay, did miss seeing you yesterday!
No video yesterday. But I'm sure you get enough of me lol.
Morning Louie glad everyone is ok , hope today is a better day for ya💜
Thank you, Jynxx. Getting better, but ya know....
Question: Where are they receiving their metals from. Also, why does it take so long to receive packages. How long have the brothers been in business. Why Valcambi 1gram gold not fit in the 1 gram gold case you guys sell?
thank you
Louies back in town @!
I am happy to hear that everybody it's okay from that car accident.
:)
Thank you buddy!
JM Bullion has the 10oz Odin Bars on preorder. A little pricey although veterans get Best Pricing.
Mornin Louie. I'm glad to hear no one is hurt. Thinking about trading my gold for silver. I'd gain a few ounces.
Morning Unkie. Anywhere over 88 GSR is a wise move IMHO. Just don't lose premiums and ruin it.
I have this theory that as prices change up and down so does the premiums adjust either up and down the opposite direction. So you really don’t make anything buying and selling and you basically are paying the same amount for the same amount of metal. The only way it works is holding for years and years and praying it’s at least went up double when you finally sell. And at that point you might as well been invested in pretty much anything else. You should only have around 3-5% if your be in metals. They sadly are manipulated and you’ll never make much profit. It’s all fixed. The only ones making a little is the dealers and shops since they always guarantee to buy below spot which normal folks can’t.
Everything you said is basically true,VERY SELDOM does the price of precious metals not do what you said. It is all about the dealers making their profit... making a profit is what a dealership is all about but they go way too far. The spread that they create between buying and selling is ridiculous like you said you have to to wait till the price goes up so much that you can get back your premiums and hopefully make some money. For that reason I don't even sell anymore I just have my stockpile for when the shit hits the fan or when I die and pass it along
Question for summit. How has the incoming administration changed your buying and or stockpiling of inventory. we have heard about comex deliveries to US as arbitrage etc. Is this on your radar as a dealer?
Thank you!
Tossed the card and put the new Buffalo in a holder! :)
That's cool.
Quick question. Some years ago, I don't know how many has been it because time flies it's probably been 8 years ago, I did my own personal little study that covered maybe the previous 3 to 4 years and it seemed to me that mid-January through the end of March precious metals prices went up every year and then drop by April and I was wondering if you have ever noticed that trend
Silver Eagles were $650 at my Costco last weekend.
Cool. I think that ship sailed lol.
@ glad I bought a tube while I was there
Gold eagle up at Costco right now, 9:15am central time. 2800 minus 4%
thank you. I saw the maple, but eagles always better.
Hey Costco has the 2025 American Gold eagles for $2799. They just popped up online.
Wish they were less.
Canvas Bag, Burlap is for potaoes!
Whoops
Hey Louie! Where can I find Minot’s buy & sell sheet?
Sorry, don't know.
🙂👍
2025 gold eagle coins up! $2799.99. 🎉
I think you said your interview was on Friday and like you just realized today is Friday
Oh shit. Lost a day.
👍
Did you buy WOOD ETF?
Yes, I posted in the chat room when I bought it.
I'm no expert on Britannia coins but I don't think they make a proof. All their bu coins look like proof. That's one reason I buy them besides the fact that they have like four or five different types of built-in security to stop fake coins
they absolutely do, I have many
Costco changed from 2024 to 2025 ASE so it’s not a new link it’s a new coin entirely
yes, thank you
I have this theory that as prices change up and down so does the premiums adjust either up and down the opposite direction. So you really don’t make anything buying and selling and you basically are paying the same amount for the same amount of metal. The only way it works is holding for years and years and praying it’s at least went up double when you finally sell. And at that point you might as well been invested in pretty much anything else. You should only have around 3-5% if your be in metals. They sadly are manipulated and you’ll never make much profit. It’s all fixed. The only ones making a little is the dealers and shops since they always guarantee to buy below spot which normal folks can’t.
That’s been disproved. Silver Seeker has been tracking premiums for years and has a recent video about it.
😊
I saw that video too but I disagree... bullion dealers have to make a living so yes but they are making a killing with their Buy sell spread.. it is outrageous! I totally agree with the gentleman above, the only way we little people can make money is to hold on to it for years and hope that the price has skyrocketed since we bought it so that we can sell cheaper to someone else but still make a profit. That is why I don't sell anything, it is for when the shit hits the fan or the pass on to my family when I die
@ eBay gets 13% of the sale plus a the credit card fee. You have to take pictures, upload them, create the listing, pack and ship the product and deal with irate and shady customers. If you own a shop, you pay rent, utilities, buy display fixtures, pay insurance, pay taxes on profits, pay all 26% Social Security/Medicare taxes and 13% match on employees.
So if you are not going to operate a storefront or sell on eBay, the question becomes why do you expect to reap a windfall profit? Why do people think they should get retail or eBay price when the only thing they did is drive to the store and walk in?