Keep up the good work fellas best deals on the internet and can’t beat the costumer service and some day we will see the Empire and Bayshore right next to or bigger than APMEX and SD 😁
Why would someone want to haul 10 monster boxes? Maybe they're thinking there's more upside on silver. Glad your buy/sell velocity is good. 2% is reasonable and shows up a lot in multiple industries. Not surprised you're around 1%. Would you have fewer customers if the spread was higher?
Yeah the wholesale side of the business is very competitive. I lose some transactions over half a percent. It makes a difference on big lots but on the smaller ones it’s like splitting hairs.
The margin on the transaction is less a story than the ROI on the money fronted. Maybe they only make 1% on the deal, but with no cash in, they have an infinite return on the investment of their 20 minutes of time. I would take 1% with no risk and none of my money fronted everytime I got the chance.
If you have cash at risk, then I think the argument on ROI is a different one. I agree, however, that 1% isn’t bad on gold. A lot of competition and the product offered by all is the same for bullion. An ounce of gold is an ounce of gold. Enjoy your comments and Matt’s.
I heard the 99cent stores closed down because when it was all said and done they made less than 3% profit. Easier to put money in a CD that is paying 5+% and go do something else you enjoy instead of grinding out a dollar.
Leave it to Andrew to not hand out a bird dog fee of 10% of his 1%. 😮 What should you me making?? As much as the market will bear. My local coin club gets 5% of sales.
I have no idea what a fair percentage is. I guess if you're sufficiently capitalized and move enough product 1% is probably fine. What I personally hate is dealers like were mentioned who pay half of spot and think that's good enough. I'd never do business with someone who treats customers that poorly
Folks outside of the precious metals market have no clue when they think margins are 10 or 20%. Those of us who have been involved for years understand that 1 - 3% on plenty of turnover & volume is good going. Licence to print money. Rinse and repeat.
GET SOME... LOVE YA ANDREW AND MATTHEW...TRUE KNOWLEDGE 🍻💯🙏❤️👍💥
Charge more you must. Make more money you will. 😂
Always exciting to find a great deal! 👏
Love being able to find really good deals
Keep up the good work fellas best deals on the internet and can’t beat the costumer service and some day we will see the Empire and Bayshore right next to or bigger than APMEX and SD 😁
They sell/fix costumes? 😂
@@christopherjames3769 Oh, U smart…… 😂 dyslexia was kicking in, I didn’t even notice till you said something 😂🤦♂️
Great podcast Andrew and Matt have a great week 🍺🍺
Thanks, you too!
I’m a small coin and bullion dealer, I charge 3 percent average. Great content love the channel 💪😎👍💰🇺🇸🙏
Awesome! Thank you!
❤ 1 percent is a mighty thin margin.
It is but I buy in huge volumes.
Why would someone want to haul 10 monster boxes? Maybe they're thinking there's more upside on silver. Glad your buy/sell velocity is good. 2% is reasonable and shows up a lot in multiple industries. Not surprised you're around 1%. Would you have fewer customers if the spread was higher?
Yeah the wholesale side of the business is very competitive. I lose some transactions over half a percent. It makes a difference on big lots but on the smaller ones it’s like splitting hairs.
Here’s one for a STUPID QUESTION Hey Matt, let’s guess what you’re going to be for Halloween😂😂😂
We already know Andrew’s a pirate😅😂
😂🎃
The margin on the transaction is less a story than the ROI on the money fronted. Maybe they only make 1% on the deal, but with no cash in, they have an infinite return on the investment of their 20 minutes of time. I would take 1% with no risk and none of my money fronted everytime I got the chance.
1% isn’t bad but I do put my money up front every time.
If you have cash at risk, then I think the argument on ROI is a different one. I agree, however, that 1% isn’t bad on gold. A lot of competition and the product offered by all is the same for bullion. An ounce of gold is an ounce of gold. Enjoy your comments and Matt’s.
I heard the 99cent stores closed down because when it was all said and done they made less than 3% profit.
Easier to put money in a CD that is paying 5+% and go do something else you enjoy instead of grinding out a dollar.
@@arte9855 I dont know anything about 99 cent stores. My business has quadrupled this year. Never made so much money in my life.
Leave it to Andrew to not hand out a bird dog fee of 10% of his 1%. 😮
What should you me making??
As much as the market will bear.
My local coin club gets 5% of sales.
I have no idea what a fair percentage is. I guess if you're sufficiently capitalized and move enough product 1% is probably fine. What I personally hate is dealers like were mentioned who pay half of spot and think that's good enough. I'd never do business with someone who treats customers that poorly
Folks outside of the precious metals market have no clue when they think margins are 10 or 20%. Those of us who have been involved for years understand that 1 - 3% on plenty of turnover & volume is good going. Licence to print money. Rinse and repeat.
How much of that 1-3% does the government take?
Does anybody have a chart of gold premiums over time or know where I can see that? Would be super interesting.
No way to gauge that because there is no standard premium over spot- everyone charges different prices.
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Videos need to be longer..
🧐
Some are, sometimes we can’t just force ourselves to talk about a single topic longer than 10 minutes.
You make 6% on silver ?
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What timestamp are you referring to?