First PM purchase from local dealers
 

Making my first post here in this group. I live in the Sf bay area.I made my first purchase today at 2 east bay dealers for my 1st ever purchase of pm's anywhere. One of the dealers had englehard silver 10oz'ers for .80 over spot, in which I bought 2. The second dealer sold me 46 SAE's $1.00 over spot. He had already sold out of his monster box's.I also bought some liberty rounds for .35 over spot. I wanted to make at least a 1K sale so I would'nt have to pay the sales tax (here in Calif you have to pay Arnold tax for under 1 K transactions. Also the first dealer told me he would buy from me at $1.20 over spot if I had at least 1monster box sealed or not. He presently sales $2.00 over spot. When my cd's mature the 1st of next year I will be buying some gold. This same dealer said he would sell $3.00 under Kitco's prices for any gold bullion that I might be interested in the future. Some of the other dealers were selling way over spot on the SAE's. CNI was one of those whose office is here in Oakland. Anyway it was a pleasure dealing with these dealers where I could have bought more but thought this was enough to get started.
Any feedback would be welcome.

Thanx in advance

Re: First PM purchase from local dealers
 

sounds good.
just some thoughts...

PAY CASH!
buy what you can when you can, don't try to buy tops and bottoms.
Welcome to GIM!

Re: First PM purchase from local dealers
 

Keep up the good work! :applause_:applause_:applause_:applause_:bull-buddy-icon:

Re: First PM purchase from local dealers
 

Congrats! Feels good, doesn't it? :D

Wait until you get your hands on a gold coin. :s9:

Re: First PM purchase from local dealers
 

Local dealers can be great. One of my regulars is a nearby pawn and loan that sells to me at some pretty decent prices. This afternoon I stopped by and he had 2 Krugerrands and 3 Gold Eagles in the case, $7 over and $15 over spot respectively. Can't touch that at present from any of the internet dealers, so I snatched all 5 coins, considering internet dealers are double plus on their premiums.......not to mention the postage on top of that.

Find yourself some good local dealers, and form a good working relationship with them. Great for the stash and for the pocketbook in the long run.

"Cash and carry" is always nice too. :s9:

Re: First PM purchase from local dealers
 

There is no other way to save.

Welcome aboard.

Re: First PM purchase from local dealers
 

i hope your dealers don't know where you live
don't brag to anyone about your PM's
the more people that know about your PM's
the more you make yourself a target after TSHTF
but that's just me being paranoid

on the positive side
when someone calls you " one of those conspiracy nuts "
you can just smile at them and walk away

Re: First PM purchase from local dealers
 

local dealers are great. hit them all for a couple months and you'll find out who's really wanting your business the most.

always pash cash. credit cards are for the internet. in person Kash is king and credit is for chumps.

buy low sell high. pigs get fat hogs get slaughtered. you know the drill. no diff than anything else-

Re: First PM purchase from local dealers
 

NICE! Wish I lived close to CNI. I just did a purchase for four gold lunars from them late last Friday, buying the dip. Hope they get shipped to me sometime soon:)

Silver is nice as well. Stacking 10 ounce bars feels good. I wouldn't know about the 100 ouncers, yet.

Mike C
P.S. Get a gold coin and you will be HOOKED! You won't want to sell it ever, because they are so darn nice feeling.

Re: First PM purchase from local dealers
 

I had to stop patronizing my local dealer whom I've done business with for some time. I was buying silver eagles (seconds) from him for .10c over spot.
Then it stopped! I kept asking for more and one day i happened to come in when a guy was buying a lot of SE's for .10 over. I inquired why I couldn't get them and proceeded to offer .50 over. The dealer told me the guy had been doing regular larger business with him and he made a deal to sell him all he gets. You don't want to kow the rest! :rant:
Needless to say after sticking my finger in this guys face and a few choice words to both him and the dealer, I can no longer go there. :bear_angry:

Re: First PM purchase from local dealers
 

EE- You got scre---. It happens, I try to constantly reinforce mutual commitments and past sales history with my dealer every time I go in .

Last time I was in he asked me what he sold me the last batch at.. LOL

F em , theres other dealers. gave him a piece of your mind huh? good for you.

Re: First PM purchase from local dealers
 

Fun thought
I though about screwing him back by taking a pile of scarce coins to him to sell, making him go through the pricing process...of cource he will try to lowball me while he's salivating at the prospect. A staged friend that was already in there looking at coins sees the deal and offers me a measly $10 bucks more. And I say to the dealer, well, you did not do me right, and sell to the friend. :tongue_ma:

I really wouldn't waste the energy though.

Re: First PM purchase from local dealers
 

That would actually be pretty funny....

Re: First PM purchase from local dealers
 

a bad idea because he would see through the ruse and throw you both out and you would be burned as a cheat. I have been in my local shop when some clowns come in and he is totally paranoid and always suspicious.

as we all are. lol

Re: First PM purchase from local dealers
 

What does the CNI in Oakland stand for. I know there is a CNI in Inglewood and if the Oakland office uses the same pricing that would be a nice find.

Thanks,
65GT350

Re: First PM purchase from local dealers
 

Being discrete has its moments...dealing with gold is one of them.

Re: First PM purchase from local dealers
 

What does the CNI in Oakland stand for. I know there is a CNI in Inglewood and if the Oakland office uses the same pricing that would be a nice find.


My bad...they are "northern calif exchange"...no connection to CNI in Englewood