yes, i checked it out right afterward and it was sold out thenOriginally Posted by TurboLag
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yes, i checked it out right afterward and it was sold out then
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bought 10 more 2020 Platinum Maples at 1000 even a few days ago from my dealer. Delivery end of month ( hopefully )
he reduced the price about 25 an oz since I promised to send him my other monster box of silver that we dealt for.
I trust him, but he owes me 29 plat coins for the 2 monster boxes of silver. Plus the 10 that I just ordered which I wont pay for until he receives.
He told me that allocations will be very tight from the Canadian mint as they supply lots of US dealers. Premiums will not be falling for a while.
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kicking myself for not jumping for 2x1 oz of Pt (PML and Pt kangaroo) at 970 each last friday from a lcs, no wait
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He is very nice to you. Maybe he does not sell online? If so, he would know the bullion market for platinum is considerably tighter then it is for silver. Silver can now be found for premiums not to far of normal, not so with platinum (and I've been looking everyday since March).
“Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)
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Got a Philharmonic locally a few days ago for 1011(Kitco spot was low 900's, ask was 921). Dealer told me he only made 43$ off the transaction. So spending 9500 to make 440-500 bucks, or if spot drops spending 9500 to make 150$ on 10 coins haha. In my state they also pay a tax on the premium on bullion when selling. Dealers are paying 30-35 over spot for valcambi's and 45-50 for coins. Eagles must be over 50 to buy from the mint because even locally they are going for 145$ over spot.
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He sells online and is the only other dealer in Canada that has guaranteed allocations from the RCM, the other being Kitco.
We dealt the silver at 14.5 / 500 or 34.5 PSR when there was no silver stock. he has already sold the silver we traded for ahead of time for a crazy premium most likely. And yes, we have a very good relationship. Great dealer
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OK great-- can you PM me on who this is -- I have been unable to find Plat Maples (or any other coins) for under $100 premium. Such information is appreciated and I would provide a finders fee if it all pans out.
“Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)
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That $43 must be more then they are making on most of the gold oz's, very small margin in this business. Don't know your state, but I would think sellers of bullion would avoid living there, how can they compete with such a tax? Anyway, thanks for the heads up, unfortunately as one who has been buying plat coins for sometime (as recorded here), I can't get myself to buy at over $75 premium (unless eagles). When will the mints catch up -- lots more $'s to make with platinum fabrication vs gold! (If spot price has any truth).
“Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)
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Hi Moto,
The tax is only on the 43$ premium and is 2.5 % I believe, something like that. So what is it..... 1.75$-1.80. The dealer's here in Washington state do very high volume sales, lots of 100 coin purchases or multiple monster box sales. Washington is very small business friendly, the first 43,000$ of revenue is tax free. They make 3-5% after all costs, most bullion shops here also sell jewelry and watches. Many Washington shops are exclusive valcambi dealers. On the east coast New York, Jersey etc you see more pamp exclusive dealers. It's not unusual to see stores doing 125 transactions a day in this state.
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OK, I understand, you just meant tax on dealer profit. On taxes, I know a couple who live on the Washington border -- in Washington (so no income taxes), and shop in Oregon (so no sales tax). Does Washington charge sales tax on PM purchases? If so, one would think locals are advised to shop in Oregon (well, excepting Portland at present!).
“Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)
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