Buying Physical At The Local LCS - May 2021

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Author	Replies: 7 / Views: 1,772
jskirwin Pillar of the Community United States 616 Posts	Posted 05/07/2021 09:43 am Hit my LCS yesterday. Bought some 90% at 23x face - which is pretty good these days. But the eagles and Brittanias were pushing $40. Seemed kind of out of whack to me. Anyone see similar markups? Report this Post to the Staff

GrapeCollects Pillar of the Community United States 8941 Posts	Posted 05/07/2021 10:08 am We were selling 90% Dimes and Quarters at 21x IIRC. Halves were 22x. Eagles were $35, Maples $34 and generic $33 Report this Post to the Staff
owatchman Pillar of the Community United States 1494 Posts	Posted 05/07/2021 1:02 pm I've seen Eagles going for $35-40 for the 2021s. Maples just a dollar or two less. I don't stock up on junk silver, so I don't know what that's gaining for in my area. Report this Post to the Staff
NumisEd Pillar of the Community United States 5201 Posts	Posted 05/07/2021 9:34 pm What is totally out of whack is the Bid-Ask spread: $25 - $35! Seriously? Edited by NumisEd 05/07/2021 9:35 pm Report this Post to the Staff
GrapeCollects Pillar of the Community United States 8941 Posts	Posted 05/07/2021 10:24 pm Quote: What is totally out of whack is the Bid-Ask spread: $25 - $35! Seriously? From a dealer perspective, it's necessary. The problem is, premiums right now are extremely high. That's because demand is high, and supply is low. So the problem becomes, if a dealer buys at $29, and the supply gets filled and the price drops to $27 the dealers are screwed. Buy buying at $25 they can insure a degree of "protection" so they know they won't loose except in the case of a tremendous downturn. Report this Post to the Staff
NumisEd Pillar of the Community United States 5201 Posts	Posted 05/08/2021 11:14 am The problem is that dealer won't get any supply at $25. Suppose I want to sell some ASEs. I can do that on ebay for $35 minus fees of 10% and $3 shipping. Left with: $35-$3.5-$3 = $28.50. Or I can sell to the local dealer at $25. Guess what I am gonna do. Edited by NumisEd 05/08/2021 11:15 am Report this Post to the Staff
jskirwin Pillar of the Community United States 616 Posts	Posted 05/08/2021 11:59 am Quote: Suppose I want to sell some ASEs. I can do that on ebay for $35 minus fees of 10% and $3 shipping. Left with: $35-$3.5-$3 = $28.50. Or I can sell to the local dealer at $25. Guess what I am gonna do. Is that $3 worth the risk of getting ripped off by the buyer who claims they never received it? I always have to calculate the risk of being ripped off and ebay siding with the buyer. In my 22 years dealing with that outfit I don't think I ever saw them side with a seller. Report this Post to the Staff
NumisEd Pillar of the Community United States 5201 Posts	Posted 05/08/2021 12:01 pm I never had a problem selling on ebay. But then again I only sell stuff occasionally. Currently about one coin each week. (Edit to add: clarification) Edited by NumisEd 05/08/2021 1:26 pm Report this Post to the Staff
	Replies: 7 / Views: 1,772

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