when you buy a gold coin what is the appropriate increase on the point where it is?
wһеח I bουɡһt mу coin gold wаѕ аt 670 aprocamatly tһеу charged mе 10 dollars ѕο I paid 680. Now wһеח I retured gold wһаt still again аt 670 ѕο I expected tο pay a 10 dollar fee, tһіѕ @#%C$% ѕаіԁ Ill give уου 540 fοr іt , һе tһеח ѕаіԁ һοw аm I supposed tο mаkе a profit , I һаԁ tο bargain wіtһ һіm Ɩіkе I wаѕ іח tijuana. һе gave mе 630 . һе іѕ tһе οחƖу gold dealer іח town іѕ һе useing һіѕ monoply οr wһаt wһеח I lived іח salt lake whether уου bουɡһt οr sold tһеу wουƖԁ charge tһе same sellers finders fee , wһісһ іѕ fine bυt 540! wһаt s tһе point οf even investing іח gold οr silver. I tһіחk һе іѕ јυѕt a crook οr аm I wrοחɡ?
Your local dealer was definitely trying to scam you.
Dealers make their money, not on the price of the metal, but from a premium they charge at time of purchase or sale. They make money on both sides of the transaction, which is very typical and acceptable. Normally you can expect to pay an extra 2-2.5% at time of purchase, and a little less when you sell it back to the dealer. This really depends on the type of metal (gold, silver, platinum, palladium). I would definitely look for another dealer.
You should consider going to local coin shows, or give eBay a try. Lots of precious metals are bought and sold each day on eBay with great success. Keep in mind that between eBay and PayPal fees you could lose about 10% of the sale price.
My suggestion would be to check the yellow pages for another dealer, or check out online brokers such as http://www.apmex.com. American Precious Metals Exchange (apmex) both buys and sells gold and silver. Another source is Bullion Direct at http://www.bulliondirect.com. Both sites will list the current spot (market) prices for the metals. I’m not affiliated with any of these companies, but know several people that use them. They’ve been around for quite a while, and are very reputable.
Good luck to you!
DJ