Silver Spring Coin & Jewelry

\r http://news.google.com/newspapers?nid=1683&dat=20030720&id=rLQaAAAAIBAJ&sjid=RkQEAAAAIBAJ&pg=4912,6991491\r \r This news article is about the woman who was protesting outside of Silver Spring Coin. In the article she claims that at the local Senior Center in Grafton that the Sheepshead Games are rigged. In her list of grievances she claims in part that the scores are not properly kept, the seating arrangements are fixed, the door prizes are fixed, as are the parking spots in the parking lot. \r \r She has also used two screen names, judy.scholz.31 and judy in disguise. Just read her other reviews (one concerning fecal matter everywhere at the YMCA in Saukville) to see what she is all about. \r \r \r The woman below who was protesting in front of the store does not understand the resale business. When selling scrap gold or silver which isn't in bullion of coin form one can only get a certain percentage of the current spot (current market value) price. \r \r \r The price you get is 70-75% of the current market value, that is because the refiners will only pay 90% of the market value, plus an assay fee to determine the purity of the product, the fee means you need to have a couple pounds of scrap to justify the assay cost, which means you have to sell to a dealer. \r \r As for my expierences with this business, all I can say is that compared to all other coin and jewlery shops in the area, they have the best rates around, on everything from high grade coins to junk silver. more

Dave is by no means a showy jewelry shop. However, I prefer to visit him not only b/c he has quality pieces, but if he doesnt have it he will go out of hisway to make sure you get the best piece for your dollar. Dave is honest, hard working, and great at what he does. You can look at anything he has with your own loop and he won't even blink an eye. he has nothing to hide, and is more than willing to help educate his customers. I will never go anywhere else. more

I have been a coin collector for many years. I have stopped at his store every 2 weeks to see if he has a special coin I'm looking for. He not only is friendly, he is instructive, and I have learned from him. I've enjoyed my experience and I think that the folks that are upset...are not understanding the market. I'm not a bullion guy. I can tell you that I have been in the store when Dave has purchased gold/silver. I always overhear the offer.... It always is in line with market conditions. So, for me to see others upset..I understand.. but the market maybe moved.more than we all thought...for better or worse. more

That review by the woman complaining here is based on the wrong information. She has ""out-thunk"" herself, and her basis is the INTERNET? First, she is wrong about the gold values. If the dealer at SSC paid her $681.00 per ounce, that is a very fair price, based on the current market at about $1800 - $1850 per TROY ounce, at SPOT price. A troy oz is a different measurement than an avoirdupois ounce, like cereal, e.g. That creates a different calculation. She has calculated in error. The 35% profit margin she discusses IS HIS profit margin, not hers. I find that statement about HER profit totally incomprehensible. How she would misinterpret that, I have no idea. What other businesses work on such short margins? As Luke points out, you don't get bullion price for scrap gold or silver. He'll only get about $950 an ounce for 14kt scrap. 14kt is only 58% pure, and American mftr's are allowed to mark 13.5kt at 14kt. When you ""scrap out"", you lose on the dirt that's underneath rings, in between links, and the lower karating. So, as a dealer, you are NOT going to see ""full"" melt values on assay. The picketer/complainer is quite mistaken in her claim, here. Frankly, she has no right to complain, she got a fair price. If I were the owner of Silver Spring Coin, I'd sue her for harassment, defamation, loss of future business, as we can see, one poster already said she wouldn't go there, based on the word of a person who is totally misinformed and simply wrong, which would substantiate such a case. I am also suggesting to the owner that he contact city search and let them know about this ill advised, unreliable and misleading review. more

some poor woman is actually outside the building, walking with a sign that says ""seller beware."" Anybody who takes the time, on a gorgeous day, to spend it in front of this store with her homemade sign must have REALLY been treated poorly. She convinced me to stay away. more

The owner of the Silver Spring Coin in Cedarburg is named David. He told me he works on a 35% profit margin for selling gold. What he dose not tell you it is your profit margin. He only pays you 35% of the going rate for gold, per ounce... Which brakes down to $691.00 to you per ounce of your gold. The inter net will tell you how to compute you gold and what you should be getting per ounce or gram. \r more