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Coinage
Penny Collector Member
Canada
303 Posts |
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 11/22/2009 : 03:08:54
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Not too sure but the U.S. Mint has info for it's bulk purchase program here:
You must be logged in to see this link.
" The United States Mint offers a Bulk Purchase Program for registered purchasers. Under the current terms and conditions of this program a five percent discount will be applied to all purchases of $5,000.00 or more of qualifying products. Additionally, a shipping and handling charge of 1% for domestic orders and 2% for international orders will be assessed on each order processed.
To become a Registered Bulk Purchaser, an applicant must:
1. have worked as a reputable, full-time coin dealer for at least five years;
2. posses a current business license and/or state resale number; and
3. have completed and signed both a "Bulk Purchase Agreement Form – 2004" and a "Bulk Purchase Registration Form – 2004" which have been forwarded to and accepted by the United States Mint."
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 11/22/2009 : 03:12:38
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This is the job qualifications to be a trader for Amark:
You must be logged in to see this link.
" A qualified candidate will possess the following technical skills:
• A minimum of 3 years experience dealing physical precious metals in coin, bar and Industrial
forms either as a trader or marketer of products and services
• A basic understanding of precious metals arbitrage
• A basic understanding of precious metals product pricing
• Experience in using futures, forwards and options in hedging strategies
• A history of successful direct dealings with customers both telephonically and in person
• Computer competence and the ability to effectively use Microsoft Office software
A successful candidate will possess the following personality traits:
• A creative thinker with the ability to successfully market product and services to
our existing and prospective customers
• A self starter who can develop new business in a mature business environment
• A level headed individual who can maintain good customer and employee relations
under stressful conditions
• A clear thinking individual who can communicate clearly and succinctly in
both written and spoken word
• A dedicated worker who demonstrates a commitment to work with and for a team of
precious metals professionals who have serviced the metals market for over 40 years
• A willingness to travel when called upon to do so
• An individual passionate about their work who is looking to advance their career "
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 11/22/2009 : 03:14:45
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| But basically, you probably just need tons of money. |
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Nickelless
Administrator
USA
5580 Posts |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
 Posted - 11/22/2009 : 06:56:50
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ultimately its a business like anything. you buy wholesale sell retail. you need capitalization, risk management, etc.
2 dudes where i live rent an old retail bank site and store their pm's in the vault. they advertise like crazy and rip off the public when they buy and overcharge when they sell. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 11/22/2009 : 08:57:23
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quote:
Originally posted by Nickelless
Market Harmony, do you want to weigh in on this?
I'd be too tempted just to keep buying silver and never selling it.
If you want to start big, then you need to do a lot of research and write a business plan in order to get the financing.
Otherwise, you are stuck starting small and you need to develop relationships across the entire spectrum of the supply chain. Over time, those relationships will pay off. You need to be adaptable and on top of trends. You need to be dilligent for deals. You need to know when and what to buy and when and what to sell. You need to be well capitalized if you are going to speculate. Otherwise, you need consistent channels for supply and demand. Paint certain scenarios of what you envision happening in the future... figure out a solution before it happens. Plan for growth. Learn from mistakes.
The businesses that have low premiums also deal in bulk quantities. If you wanted to get these good deals, you need to be able to offer either consistent purchases from them, and/or frequent purchases from them.
If you stay at it, things will break for you. It's taken me more than 2 years before I've been able to develop some supplier relationships that have not yet begun to deal with me. Once they do, however, It should open some very big opportunities. |
goto the new and improved realcent: http://realcent.org |
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myfundsarelow
Penny Collector Member
USA
388 Posts |
Posted - 11/22/2009 : 23:42:33
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| we all are bullion dealers & traders on a small scale buy low sell high, simple ! PEACE!! |
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ScottyTX
Penny Hoarding Member
USA
508 Posts |
Posted - 11/23/2009 : 00:38:04
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quote:
Originally posted by Coinage
If I wanted to start a Bullion dealing company, how would I go about doing that?
Where are these dealers getting the cheaper Bullion in order to make enough money to stay in business. Is it all about buying bulk from the Mint?
Can anyone buy from the Mint directly?
If your talking Bu silver/gold eagles, then no you cannot buy them directly from the mint in their monster boxes. Well thats not entirely true but the requirements to do so pretty much puts everybody but Amark out of the picture. Second choice, buy from Amark, but their minimums are costly at 5,000 ounces min. on silver and I can't remember about the gold, but its high. Your third choice would be resale. Buy from the public through buy ads and then resale for a profit. You would have to establish quite a few things to do this in any large quantities though. For other avenues, I cannot really comment on that for that is as far as I have looked into stuff. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/23/2009 : 00:38:23
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quote:
Originally posted by Dalsuh
But basically, you probably just need tons of money.
*Has tons of money* But the mint won't let me pay in pennies. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Topic |
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How do you become a Bullion dealer.
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