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GA-Silver
Penny Pincher Member
USA
238 Posts |
 Posted - 05/28/2009 : 23:08:46
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My buddy is going on vacation next week and wanted to sell his HS class ring to help pay for the trip. I told him I'd give him $5 over his best offer for the ring ( a heavy 10k Josten product from 1975). He was offered $185 for the ring by one scrap dealer (he only checked at with one buyer), so I wound up with $190 in the ring. I don't know the weight of the ring, but it is heavy. Did I mess up of would you have done the same as I??
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/28/2009 : 23:12:24
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yeah. scrap dealers dont give much. $5 over is good for you, good for your buddy.
weigh the ring. From there, you can calculate the scrap value. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 05/28/2009 : 23:18:31
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| Heck. hold onto the ring for him. Maybe he will buy it back from you? |
Trolling is an art. |
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GA-Silver
Penny Pincher Member
USA
238 Posts |
Posted - 05/28/2009 : 23:22:27
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| He won't want the ring back. He hates the school he attended, plus he has 2 children, so he can't divide the ring for them. He hasn't worn the ring in over 30 years. He said he'd rather enjoy the money spent on vacation. |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 05/29/2009 : 09:42:51
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| I would weight it first and calculate the scrap value. If its a decent amount more than your paying I would go for it. |
Copper Penny Investing
www.portlandmint.com |
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keys
Penny Collector Member
383 Posts |
Posted - 05/29/2009 : 13:17:18
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You didn't mess up and here is why-
You helped out a friend by buying something he wanted to sell for the price he wanted.
Even if it turns out the melt value is only $50, you were there to help out a friend, that is what counts.
Who knows? Maybe he will send some other PM business your way or he can help you out some way in the future.
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I change with the times-
but like silver coins found in your change
I stay the same.
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The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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GA-Silver
Penny Pincher Member
USA
238 Posts |
Posted - 05/29/2009 : 15:28:09
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Keys,
As a matter of fact he did sell me some more PM today----8 oz of silver (5 New Walkers, 1 bullion round, and 2 art bars) for $81! |
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keys
Penny Collector Member
383 Posts |
Posted - 05/29/2009 : 17:44:47
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Nice buy there GA-Silver.
I suspect your friend was glad to make the sale too, otherwise he wouldn't offer you the silver.
A win-win deal is the best kind of deal.
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Sometimes it isn't about getting the item for the lowest possible price, its about being honest and helpful (helpful as in paying a fair price for the PM's) and establishing a reputation as an honest guy, which leads to more PM deals.
Here's hoping more good deals come your way GA-Silver.
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I change with the times-
but like silver coins found in your change
I stay the same.
*****************
The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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GA-Silver
Penny Pincher Member
USA
238 Posts |
Posted - 05/30/2009 : 08:52:47
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| Back in 1999, my friend and I were getting ready for Y2K. He and I bought those Walking Liberty Dollars from Coast To Coast for $8.00 each. He has keep them for 10 years and sold me his part for $10.oo an oz. He made 20% profit and I was glad to buy thr silver @ $10..00 and oz! |
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would you buy this gold?
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