How To Sell Gold & Silver for SPOT PRICE!

hi there everyone this is Joe and

Michael from bullion now bullion now

calm a you selling you the best bullion

bars and coins shipped to you worldwide

from Melbourne Australia here today

we're going to talk you about talk to

you about our buyback policy and how we

pay 100 percent of spot price which we

think is very much the best deal in all

of Australia if not the world you can't

guarantee that but I definitely know

it's best in all of Australia as of

today's date and time so let's talk

about why we can pay 100% of spot how

people can get 100% of spot price what

it is and we'll just basically talk

about our buyback policy and go into a

few more of their specifics so I guess

the first question were when someone

comes in to us and says hey I've got

this kilogram of silver how much do you

pay and we say we pay a hundred percent

a spot they go how in blazes can you do

that or why do you do that when every

other dealer I go to will charge a

percentage below so let's try and answer

that question first well we do it

because we can and we believe it's the

right thing to do yeah the worldwide

market based out of the London Metal

Exchange pay spot there is a bid and ask

price and everyone else gets it all the

big boys get it so why shouldn't you get

it why shouldn't it be spot why should

you be penalized because you're a

smaller investor a collector we believe

that it's worth worth at least spot yeah

so that's why that's the main reason we

offer spot and it's it's a genuine spot

it's not a made-up spot if you go to

some of the other places they will use a

certain spot that is artificially either

deflated or inflated depending on which

way they want to go about it so to

interrupt for two seconds just for the

real layman out there when we use the

word spot we're referring to the market

price of the metals so if you ever hear

anyone saying spot price spot price this

spot price that that just means we're

looking at the charts at that time that

you're in the store and that's just the

market price so spot price means markup

or share price or she'll get even share

price yes I put that perspective yes so

you can look up your price of BHP on the

Australian Stock Exchange now you can

look up your price of your silver per

kilo on London Metal Exchange or the one

that that's generally accepted his kit

code kit cocom and that's that you can

tell even before you contact us you can

look up on your computer

KidCo calm and you can see what price

that we will offer you when you contact

us when you bring your bar in in

Australian dollars you need to look at

it in Australian dollars but yet that is

the price we will honor is the kit code

in price it's easier when it's sitting

in front of you we will honor the kit

code bid price at that time we're not

when we will be doing the transaction

fantastic so it sounds like not that I'm

saying that all other bullion dealers

are shady of it not not by any means but

it does suggest that they charge a

percentage below spot price so 97% of

market price right because they can or

they may be they think they can get away

with it for example not them Xing I'm

not saying everyone else is shady or

anything but it is a choice it's not

because it's pure market forces and

economic reasons and all that sort of

stuff and look to be honest explain the

market's expectation yes

customers expect customers are shocked

that we pay spot because they expect to

get 97% 98% so you know in some way the

dealers have said well that's what

everyone expects so this will pay well

where we're raising the bar we are we're

raising the spot price absolutely yeah

one way we're raising a two spot price

okay so that answers that we pay 100% so

if for example again you walk in with a

silver kilo bar I'm looking at the spot

price the market price of steel silver

kilograms at the time you're in the

store and I pay you exactly that amount

not a percentage below that again best

deal in Australia probably as of right

now wild guess but I reckon one of if

not the best

deal in the world currently the great

thing about us as well is my

understanding is you don't have to be in

the store to sell your metal to us so

can you explain quickly what that means

so you just need to be able to get the

metal to us so if you're in another

state another town even another country

if you can ship that metal to us you

know we'll run it through our air tests

so XRF all that sort of stuff and

assuming it all comes up to speak we

will pay you

there's the spot price so whether you're

in the States here in the UK you're in

Ballarat you're in Roma you're in

Kalgoorlie it doesn't matter where you

are right you can give it to us and

we're happy to lock in the spot price so

if you contact me right now and spot is

using Joe's examples eighteen hundred

and fifty dollars an ounce we can lock

it in with that and so long as you get

that the middle to me within the next

few days I'm happy to honor that price

even if it drops so we will honor that

price well as soon as it gets here we'll

test it and we will send you out the

money we will aft the money to you

straight away right second question

which I've heard quite a lot is well why

would I go to a bullion dealer in the

first place why go to a bullion dealer

who even us who are paying the best

price in Australia probably the world

100 percent of spot price why come to a

bullion dealer when you know I know I

can sell it on eBay I can sell it on

gumtree which is like Craigslist in

Australia Craigslist is in the US so you

know private forums privately just

individuals meeting them in a back alley

or a cafe or other so net and where I

know I can get more than 100 percent of

spot price and get spot plus you know

whatever percentage why come to a

boolean deal or any boolean dealer for

that matter why come to someone like us

there's a couple reasons one is it's

easy so you roll in any bullion deal and

they will pay you cash or electronic

funds transferred that will pay you on

the spot when you bring your your kilo

bar of silver in or your aunt's of gold

whatever you transact them so it's

really simple

you don't have to wait around on the

phone or any of those things it's also

it's a known quantity you know who we

so there's a security issue there you're

not meeting down back alleys you're not

meeting in McDonald's or any of those

things and I'm quite often surprised at

the number of people that we we talk to

where they've been separated from their

cash and there are the precious metal

because they've agreed to do a deal on

the side so there's a security issue we

have cameras here where it license to

all that sort of stuff

we've regulated so you've got that

assurity and all we ask for is you do

need to show an ID which we do take a

copy off you know all honesty but that

daddy's kept here and he's not showing

to anyone we're not compelled to show up

to anyone it's we just we need a copy of

an other valid I do so passport driver's

license then that government-issued

photo ID yeah okay and for example we I

get asked a lot oh well you know what if

the ATO calls you

yeah that's ATO for people watching this

outside of Australia is the Australian

Tax Office what if the tax people call

do you have to give my ID and say this

person you know bought this amount on

this day no notice sold sold sold or

bought or whatever yeah not at all

so again just kept here on purpose it's

under lock and key it's not shown to

anyone so that's those first two


hundred percent of spot why we can do it

how we can do it cetera and so yeah

there's also the other reason the other

big reason other is that you're not

limited to quantities quite often we see

people say oh well you know I'm quite

happy to take one ounce or you know one

one kilo of silver but I can't buy more

so now you're dealing with three four

five six seven times the number of

people that you would be again

increasing a hassle and be security and

risk so whereas you can come in here and

you can unload it honest we've we've had

customers come in before and sell 20 30

ounces of gold to us you know in one day

because we at the time we have the

availability we have the ability to be

able to do that now the next thing we

need to talk about is the various

conditions that we have in order for you


sell gold silver etc at 100% of spot

price so let's talk about gold to start

off with that's the maximum amount that

someone can bring in at any one time and

they can still get a hundred percent of

stuff okay so you can bring in a maximum

on a day of 10 ounces of gold okay okay

now what do you mean by chances got so

for example if so here's here's a one

ounce bar of gold I won't get too much

closer because it's a little one ounce

yet little caste bar of gold if I have

ten one ounce caste bars of gold will

you pay me spa price I will 100% 100% of

spots okay if I have say one 10 ounce

bar so not ten times one ounce bars but

one bigger 10 ounce bar of gold will you

still pay me 100 percent that's where we

started the problem okay so anything up

to 5 ounce in single size and say

anything from 1/2 gram bar all the way

through to a 5 ounce bar of gold

yeah we're quite happy to pay spot for

cool because the market they're easy to

move in the market yeah once we go over

the five answers say 10 ounce or the

kilo bar of gold that type of thing

there's not a huge demand so we have a

holding cost either we hold it for a

longer time a longer time until someone

walks in and says look I'd really like a

kilo bar or we have to have it

remanufactured down to a size that the

market is demanding ie the 1 ounce size

is the normal one and again that that

incurs a cost for us so once we go over

that 5 ounce in size that's where we

need to say hey we probably can't honor

the 100 percent of spot we need you to

squeeze it back a little bit now my

understanding is it's not necessarily a

set percentage so if for example I bring

in one 10 ounce bar of gold and I want

to sell it on that date you're going to

not do it for a hundred percent there'll

be a percentage below but that

percentage below is negotiable and it's

really depending on custom and demand on

the day or our inventory what we think

we need so it's not always going to be a

set you know 97 percent or something it

could be slightly higher in some cases

we could possibly even still be back at

spot it's just not guaranteed so for

example if someone comes in selling that

10 ounce bar but we know we've had a

customer coming the day before and say

hey give me a call if you never get new

10 ounce bars in because I want to buy

them like right right away well if

you've brought in a 10 ounce bar would

be like well come on let's just wad will

give you spot you know so really it is

demand and driven but official policy

absolutely 100% we will pay 100% of spot

price again for anything up 10 ounces as

long as it's 5 ounce or small so any

combination so you can bring in a 5

ounce a two and a half yeah a couple of

singles and a half ounce will pay you

spot for that right and I was sure I

would assume let's just say I bring in

30 ounces of one out their answers are 1

ounce buzz what are you gonna do there

so for example if I bring in 30 times

one else bars are you paying a

percentage below spot for all 39 no we

said up to up to 10 ounces okay

we will pay spot for once I got over the

10 ounces so the following ounces okay

we will be will be at every service

taught for the first 10 ounces and then

for the next 20 or be a reduced rate

okay that makes sense to me let's talk

about non bullion gold for a samisen

will stick with gold for a sec we do

also buy back non-abelian gold and what

do we mean by that usually we mean coins

so what we've got here is sovereigns but

Krugerrands Dutch guilders any of those

coins that government issued coins does

have to be in government issued coin in

this case yes I'm gonna answer yes I'm a

stinker it down there but as far as I'm

aware any government issued coin that's

considered the rest of the world

considers in bullion coins it has dog

content I can't just bring in the $2 you


let's go until contact yeah so we will

pay again we will pay 100% of spot price

for those gold coins so this is a 22

karat coin so we would pay 100% of a 22


however inclusive of inclusive in

Australia inclusive of GST yeah so to a

customer walking in through the door

that means nothing you get squat yeah

effectively so a business if it's a

business-to-business transactions

slightly different but to an average

customer coming through the door you

bring in a sovereign will pay you spot

including GST you will walk it up with

spot price for the next hundred percent

of spot price excellent let's talk about

silver then it's in case it's basically

the exact same thing except the

quantities other than the sizes are a

little bit different so let's talk about

silver so what's our policy on so they

gave these bad boys 100 percent of spot

price yeah and it's the kit code be

price yeah but can't come the unit that

again keep because again you can look it

up before you even turn up to the shop

or before you even contact us you can

know exactly what we're going to offer

you at the time so you can bring in

anything up to 20 kilos is the maximum

amount daily transaction that's a lot

that's a lot of metal it is a lot of

metal and you can bring it in in any

combination so it down yep

you can come from I've got a one ounce

here but even smaller than one else if

you want it all the way through to and

including 100 ounce bar yeah okay again

the same is with the gold if you go over

the hundred ounce bar you've got a five

kilo bar that heavy man dude who's more

weight so if you bring in a five kilo

bar again if I've got demand for them on

the day I can probably pay spot if I

don't have demand I mean this kilo but

you may have even seen it in previous

videos I've used it a couple of times

it's been kicking your in here for a

couple of weeks now I've got a holding

cost on that and I've got to take that

into account and because we sell it for

so cheap you know spot plus a very small

percentage over it it's not economical

normally for us to pay 100% of spot but

again cuz

the demand if we've got someone who came

in that morning looking for one and you

bring one in that afternoon yeah quite

likely but again just know that is


but what we do guarantee again is one

hundred percent of spot price anything

up to twenty kilos as you said no larger

but including but no larger than a

hundred ounce bar again that is I've

worked in you know various dealerships

and stuff and again as I know as of

right now the best deal in all of

Melbourne all of Australia and I think

all of the world again 100% of spot

price with the varying conditions but

those conditions are pretty pretty good

you know it's quite a lot of metal you

can bring in before you start you're

potentially getting less than spot price

and they are the only two conditions

yeah it's just the quantity yeah so less

than ten ounces for the gold in 20 kilos

for silver and the size so the no

greater than five ounce in gold and no

greater than hundred ounce in silver and

we're not going to we're not pulling any

other Swifties or any other cons they

are the only two conditions you meet

those criteria we will pay you 100

percent of the KidCo big price yep and

just like you know these non bullion

gold coins what about someone brought in

what is referred to in the states as

adjunct silver coins they called the

court pre-decimal

period in Australia yes please a better

season Florence

but in Australia like Australian County

we have florins six months through pants

- is snow their copper other copper and

silver pennies so I think it's only

those three okay we've already mentioned

sovereigns as part of the gold yep any

of those types of things yeah and so

we'll pay how much for that size with

the silver with the jug so we have it

depends on the year obviously there's

the fifty percent and a ninety two and a

half percent so depending on materials

so we don't pay a hundred percent of the

silver content of these we can't melt

them down there Australian legal tender


there's not the demand for them so we

will pay and give inclusive of GST we

pay 85% of the spot price for for the

Prix decimals or the junk silver isn't

call it in the States

yeah and we're quite happy to do that

and sup honor that but we buy them

that's that's the big thing so you've

got a bunch sitting around or you know

someone who has a bunch of sitting

around you can bring them to us and we

will buy them back from you and again

like like the junk silver coins like

your year old quarters and dimes and

Mercury dimes and all that sort of stuff

that has silver content so the pre

whatever it is in American you know

coinage will buy all that stuff as well

any pretty much any coin in the world

which does have you know a recognized

silver content a recognized gold content

we will buy back there and just the only

real Asterix I give with that one is if

you bring me in ten kilos of I'll speak

to Australian customers in this case ten

kilos of pre-decimal and it's unsorted

so it's a mix of the fifty percent and

the ninety two and a half percent here

you're going to get a sorting fee yes

I'm gay it's going to cost me to sit

there or for Jonas it bit yeah I sit

there going one through penny and

looking on what here it is because he's

younger than I am so he's always a bit

he can see what years are the frequent

hour whereas I have to look under under

microscopes yeah well yeah there is that

problem so there is going to be a

sorting fee and I have to be honest with

you I haven't actually sorted out what

that fee is and it probably depends on

how cranky I am on the day that's fine

but look the bulk of our buybacks the

bulk of people coming in to sell back to

us here's your boolean anyway it's very

rarely do that sort of stuff but we're

playing you know we do do it and that's

our policy as of right now now I can't

think of anything else that we need to

let them know unless there's something

that you can think of cool so all you

really need to know is 100 percent of

spot price up to a certain amount and a

certain size we've talked about gold we

talked about silver we've talked about

the security we've talked about the fact

we are the best in Australia as

right now I think again the world all

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stay safe and it's goodbye from Jim bye

bye from me