Silver and Gold Dealers Going Out of Business! Here's Why | The Exchange Podcast

Silver and Gold Dealers Going Out of Business! Here's Why | The Exchange Podcast | EP. 30

Рет қаралды 6,080

11 күн бұрын

Silver and Gold Dealers Going Out of Business! Here's Why discusses the precious metals industry and the various silver and gold businesses that have come and gone over the years. Silver and gold markets can be very volatile and require a significant amount of capital to operate. In this video, Matt and Andrew discuss reasons why businesses have gone under and how the markets continue to change.
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#silver #preciousmetals #gold

Пікірлер: 55

@goldsilverjunkie 9 күн бұрын

We can tell who goes outside and who sits at home like a vampire 😂

@tommystacker3286 9 күн бұрын

I attend coin shows with multiple dealers. Too often they are grumpy old men with little personality and weak customer service. Even though their prices are decent there are times I won’t buy from them because even after being a regular customer they don’t seem to want to have a friendly relationship. Better customer service will go a long way for staying in business.

@Crea8Craft 10 күн бұрын

I also have three coin shops in my city. I frequent two of them, with low prices across the board so I buy what I can. When silver was in the low 20s earlier this year, the third shop was asking 26x for common circulated 90% (that’s over $36/oz) so I have never set foot in that shop again. Though I do see silver hitting 50 at some point in my life.

@hbendzulla8213 10 күн бұрын

For a dealer to pay high or fair is a very good advice. I have noticed that on a couple of dealers naturally I picked the dealer that pays a fair price.

@TheQuickSilver101 10 күн бұрын

There's a number of shops around me and none have gone out of business lately. I have no idea if they're close to going under but they seem to do a brisk business

@jasonandjulim4163 10 күн бұрын

I wish Ebay would fix the surprise sales tax on bullion thing. It hurts buyers and sellers. They have gotten a little better over the years. Most of the time no sales tax is charged, but when it does happen, it kills sales fast. The sales tax is within the bullion margins not outside of it like other products.

@whatmattersmost6725 9 күн бұрын

eBay is 100% at fault! It's true if the seller does not choose the correct categories when selling Silver & Gold. If they don't choose the correct options then eBay WILL CHARGE TAX AND DON'T CARE TO FIX THERE SYSTEM, Just like Walmart charges sale tax to states that don't have Silver & Gold!! They don't care!

@Grams_ 9 күн бұрын

They fixed it in Canada if you buy from Canadians

@DrSchor 8 күн бұрын

@@whatmattersmost6725 no one takes a commenter who can't spell their seriously. it shows sloppy thinking.

@whatmattersmost6725 8 күн бұрын

@@DrSchor What a Troll!

@natemr4482 10 күн бұрын

Great podcast Andrew and Matt happy father's Day 💪🍺

@EmpirePreciousMetals 10 күн бұрын

Much appreciated

@BeardedWonder-fx6bq 7 күн бұрын

Great topic guys. Absolutely agree being the best value place is so important. Both buying and selling. Price integrity matters! Keep these vids coming you two!

@ah5836 10 күн бұрын

Two shops near me with physical stores, both doing good business, one has done very well with whatnot past couple years has even increased their employees and their purchases this year. The other shop is more old-school without much online presence, but they've been around a long time and have a strong local presence.

@doublejump6578 7 күн бұрын

I use to go to my local coin dealer, I spent 10 s of thousands with him, then 1 day I needed to sell, and he absolutely disrespected me with crazy low ball, now he never seen me again. I found a new guy , I will never talk to him again. And I brought people to him

@EmpirePreciousMetals 6 күн бұрын

You have to remember the dealer assumes all the risk by buying your metals. They have to hold/sell it and hope spot doesn’t drop. They’re a business. How bad of an offer did they make?

@mykittenisagrandmaster4381 10 күн бұрын

Hopefully mine doesn't go out of business only 3 here where I live at

@Vacationtime247 10 күн бұрын

Closest coin shops are an hour and a half to two hours drive away, so most purchases are online. Gold sales appear to be picking up, as buyers are starting to adjust to the $2300 spot price. Silver sales however seems to be slow after the recent run up. VT247

@stevenrowlandson9650 9 күн бұрын

If indeed they are going out of business I would surmise that it is because they know that buying from the public in any quantity from informed investors that know what they want is not going to be possible or cheap and of course uninformed buyers among the public will want cheap gold and silver. Its a bad situation for coin dealers and pawn shop operators who buy low and sell higher.

@johnlee4897 8 күн бұрын

So sad to see the Pobjoy Mint go out of business here in the U.K. late last year. They'd minted gorgeous gold Archangel Michael bullion and proofs including bi-metallic gold-platinum coins. Losing the Isle of Man licence to mint their coins finally ended them.

@TLstack600 9 күн бұрын

Oh no. I just thanked him. But I think it was an email. Not good at this yet. Still learning. I would never be rude. Thank you for asking. I really appreciate you reaching out. It means a lot!!

@EmpirePreciousMetals 9 күн бұрын

My pleasure. I’m sure all is fine. You’re probably overthinking it. I know he had a busy week this past week.

@ehrenkrause9861 9 күн бұрын

Yeah when everybody does their research on price checking it keeps all the other people honest or at least the honest ones in business

@kingglizzer 10 күн бұрын

Good info, thanks guys. FB has been dead for years. People mostly use it for the marketplace.

@EmpirePreciousMetals 10 күн бұрын

Thanks King!

@steveg5576 10 күн бұрын

Great video...and topic.

@EmpirePreciousMetals 9 күн бұрын

Thank you!

@aaronritchie7398 10 күн бұрын

Harder to find LCSs on north side of Nashville. Please join your local coin club too. ❤

@justinkaicles4243 10 күн бұрын

Golden Eagle in Clarksville, Tennessee is a great LCS. It’s only about 40 minutes from Nashville.

@user-jx4om8yp7e 10 күн бұрын

I have never heard of a local coin club before!!! How would I find that?

@aaronritchie7398 10 күн бұрын

@@user-jx4om8yp7e … Google Nashville Coin Club. Hendersonville CC is on same site as well

@TLstack600 9 күн бұрын

I have 1 shop that I've been Goin to since 2020. But last month I was in a jam and needed money. So I asked what he would pay for a Buffalo and it was 100 back of spot. Unfortunately I don't have other shops around. But your podcast was very informative guys!! Great job .

@EmpirePreciousMetals 9 күн бұрын

Thank you!

@coincollectingfun 9 күн бұрын

Big like 187! Excellent video and thank you so much for sharing!

@EmpirePreciousMetals 9 күн бұрын

Thank you! Cheers!

@user-lv5lm9ru8u 9 күн бұрын

Coin shops are important. Inflation means that Fiat Dollars in Wages or in Savings will buy less in the future. Less physical items such as Food & Gas and the cost of Services e.g. Rent and Insurance cost more. Silver however is a store of wealth. Silver RETAINS Value. An ounce of Silver will buy as much food next month or next year as it did last month or last year. That's the point of stacking Silver and also selling Silver when required. That's also the point why Coin shops are so important (and necessary) !

@groovyartandwatchesllc 9 күн бұрын

Awesome video guys!!!

@EmpirePreciousMetals 9 күн бұрын

Thanks so much!

@stevewoods8116 9 күн бұрын

I learned nothing, but I still enjoy listening to you both! Can't wait until the next one!

@EmpirePreciousMetals 9 күн бұрын

🤨

@TLstack600 9 күн бұрын

Happy fathers day stormy. I think Andrew mighta blocked me. I might have sent him an email instead of a comment. Im old and trying to figure out the comment section. Could u let him no i didnt mean to.. Thank you !!

@EmpirePreciousMetals 9 күн бұрын

Thanks TL! I don’t think he blocked you. Did you say something offensive to him?

@23Keith23 8 күн бұрын

Some of the whatnot sellers are dics, lol but they sell a lot of inventory. Most at a very high price

@EmpirePreciousMetals 8 күн бұрын

They have to because whatnot charges between 4-9%.

@jsmooth6049 10 күн бұрын

💯💯💯💯💯💯💯

@JTCoinRings 9 күн бұрын

Answer TikTok messages 😉

@Silverbuffs 9 күн бұрын

👍

@rzhunzhu1066 10 күн бұрын

👍👍😊👌👌

@jamesonealbrown7227 10 күн бұрын

🌎🗿™️

@RaspingPompano2 9 күн бұрын

Some people love Trump some dislike and some go absolutely insane. I’m so glad we don’t have the insane crowd here. I like Trump and I really like his policies but some people’s brain just break when they hear the name Donald Trump!