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phankins11
Valued Member
United States
149 Posts
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I'm not sure how to ask this question, but here goes. This is off the heels of trying to buy 90% silver from eBay, stuff that should have no numistmatic value. But I keep getting outbid by dollars over melt value per coin. Am I just defeating myself by sticking as close to spot as possible, do these bidders know something I don't, are people banking on the $100 per ounce dream price, what's going on? I also see this with bullion as well. When trying to buy bullion, what's a good pricing model to follow when trying to buy silver on eBay and off. Edited by phankins11
02/24/2012 9:20 pm
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Valued Member
United States
341 Posts |
Your local coin shops will prob be your best bet. You can also check out places such as apmex.com, provident, silvertowne, goldmart, etc... but beware of shipping costs!
Also a lot of prices on eBay are inflated due to that 9% charge they charge on their auctions
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Moderator
United States
3858 Posts |
when I was looking to buy a 2012 ASE: I checked at my local coin dealers, and they sell for spot plus about $7-8 (that's their cost plus a little for them). So when I found some at a local coin show, I was comfortable with the price. Same would apply to 90% coins. You would have to add in the fees with eBay and paypal to see if its worth it for you. Edited by Fuzzy317
02/24/2012 9:33 pm
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Pillar Of The Community
United States
562 Posts |
Pm me and I'll give you my oppion. I tried to pm you but your email isn't set up.
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Valued Member
United States
149 Posts |
Afclasic87 pm sent, email set as well.
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Valued Member
United States
201 Posts |
I guess I'm lucky to have three shops in the same small town that all have reasonable prices but a little lacking in selection. The main shop has ASE & canadian bullion for spot+$3. Generic bullion at spot. Junk silver at melt and any junk silver in collection holders for melt +$2. The second guy is selling out of the front of my gun shop. He will match whatever my main guy is seling for. His selection can be very slim but has been improving lately. The third shop is a resale shop. Don't get much there but occasionally they have a little something. Picked up a Bulls 4th championship 1 oz coin for under spot. Supposedly has a mintage of 10,000. They will sometimes accept a low offer. Walked out with that for $30 today with silver at $35+. |
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Valued Member
United States
201 Posts |
Forgot to add, if any of you are in the Central Illinois area I will point you in the direction of my sources.
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Valued Member
United States
100 Posts |
I buy as close to melt as I can get. For awhile thre I was getting a fare amount of it off eBay but since it started getting into the mid 30's - it's been more difficult. It still can be done though but it requires a great deal of time, watching a great deal of auctions, and entering alot of bids at the end. Every now and then you do score.
Like others said the local shops are a super great place as well but you have to shop around. Some price by the weight, some by multiples of FV - some charge tax, some don't. I've found that after you go into them enough most accept offers as well and I also have shops that if I tell them I'm getting paid on such and such day and will be looking for so much FV in whatever coins I want - they get it and have it for me that day. I'm not lucky enough to have found a shop YET that sells for melt value..if anyone knows of one in the D/FW area and cares to share - let me know :)
Most shops I go to get a premium over melt but as I've bought more with them, they reduce that premium. Say from the first time I went in I think it was 10%, then 7%, then 5% and today after buying another $55 FV I got them down to basically melt. And this was at a shop that doesn't tack on sales tax. Those are becoming my favorite shops :)
Earl
Edited by EarlB
02/25/2012 03:42 am
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Pillar Of The Community
United States
665 Posts |
Buying scrap silver and one ouncers on eBay is a losing endeavor if you're trying to beat the price. Everybody pays a huge premium. You're better off going to a local dealer. And you would haven't to pay the shipping fees too!
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Pillar Of The Community
United States
3399 Posts |
Most profitable time to get in according to my math, is at around 1 dollar per oz.... In the meantime I shall just be  ! Waiting for my time to come back out of hiding an strike on as much as I can get to cordinate with my plans to TAKE OVER THE WORLD! IF an when it hits that MAGIC number   .... RIP BigFredd....
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Pillar Of The Community
United States
4008 Posts |
Yes, I like the local and on-line dealers too. There is no sales tax on coins in my state, even though we do have a sales tax on most items. My favorite place is a small local pawn shop that sells at spot prices. They often do not have much to sell but when they do it can be a pretty good deal. I got 5 Peace dollars from them for $115 a few weeks ago. I'm not a big fan of the design of this coin but 0.77 oz. of silver IS 0.77 oz. of silver, right? I much prefer the Morgan dollar design. Anyway, that was not a bad price at all and all of these coins were at least Fine grade if not XF grade.  |
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Valued Member
United States
67 Posts |
I only have one coin shop in the area I'm in. So far, they have been priced the best, no sales tax and no shipping. I have bought on-line as well. I do plan to check out some of the local pawn shops to see what they have. We went to a coin show last week, no great deals there. I think most of the older dealers didn't really want to part with their coins. I had found better deals at the coin shop.
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Valued Member
Canada
464 Posts |
I have never been to a coin show but there is one coming in town soon. Just wondering how is it like. Do people usually find good deals, such as spot for bullion, often there? I surely like to get some bullion coins or/and bars.
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Pillar Of The Community
United States
667 Posts |
Coin show can be hit or miss
Edited by mkfarm
02/26/2012 11:03 am
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Pillar Of The Community
United States
4008 Posts |
I also would like to attend a coin show sometime just to see what it is like. I'm sure that with some careful shopping, it is possible to find a good deal or two. Not that this is guaranteed or anything. If I do find one and go there, I will bring some cash and some silver bars as tradin' material.  |
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Valued Member
United States
312 Posts |
I've been buying a little here on this board in the For Sale section, and another board. Great prices if you shop around. I'll buy any domestic or foreign silver coins at under spot and feel great about it.
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Posted 02/24/2012 9:19 pm
