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 Replies: 15 / Views: 1,784 |
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Pillar of the Community
United States
589 Posts |
Okay I know my LCS can charge up to 5.00 over spot for silver bullion eagles they sell but I went in today and he said they are $ 11.00 over spot. I couldnt help but stare at him for like 30 seconds in dismay. I said I just bought one just last week for 5.00 over spot. He said the mint is sitting on all orders and dealer to dealer is charging 10.00 over spot to each other. So my answer is to save up some money until his spot price goes down or go on APMEX and buy the coins with different silver 1oz coins to chose from plus shipping will equal my LCS current spot price plus tax. |
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Valued Member
United States
149 Posts |
Good plan. Around here they are getting $6 over spot for eagles.
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Bedrock of the Community
13014 Posts |
I honestly would have laughed at that price. The mint isn't sitting on orders they just arent going out of their way to fill them.
You should have offered to sell him all of yours for 9 over then just go home and order more for cheaper
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Bedrock of the Community
United States
11951 Posts |
The best LCS in my area is selling ASE's at $29 today. Which is more over spot then they usually charge. I saw one guy come in and order a monster box .. for $14,500, they told him .. if they can find one. I was talking to the owner, he said in most cases, he is paying over spot .. for silver coming in .. because he is not getting much .. and selling all he has. |
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Pillar of the Community
Canada
3692 Posts |
Why would a dealer buy from another dealer at $10+ only to sell it to the public at $11+? That makes NO sense.
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Pillar of the Community
United States
2311 Posts |
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Pillar of the Community
United States
1511 Posts |
Wow, $11 over seems high.. At my local show Sunday they were $28, and are the same at the 2 shops I frequent... It's all on where you live though too.. I live in western mass and a friend in Boston (2 hours away) can't believe the prices out here when he comes. If I sell culls/scrap silver to a local shop I'll get at least spot, probably a dollar or two over. But he's never seen that in his local shops, he said he's never gotten spot near his house (same goes with buying, it's cheaper here than where he lives) so now he stocks up on silver and when he comes to visit he sells out here...  |
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Pillar of the Community
917 Posts |
I almost picked some up last night from goldmart, they are $4.49 over spot for ASE's. |
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Pillar of the Community
Canada
2805 Posts |
My dealer was at 28x for American 90% before the drop and hasn't budged one inch. Has anyone else had similar bad luck with foreign markups?
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Valued Member
United States
240 Posts |
My dealer charges 30 each
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Valued Member
United States
492 Posts |
And I was amazed at $6 over spot when I called the other day. Whatever, I'll just wait thanks.
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Pillar of the Community
United States
5197 Posts |
@Libertad
Why would a dealer buy from another dealer at $10+ only to sell it to the public at $11+? That makes NO sense.
The local megadealer here in WI for Eagles who is a member of the local coin club sells to members for $4 over spot cash at meetings. He also supplies all of the local dealers in the area. Another member of the local coin club went shopping around to LCS whom the owner is also a member of the local coin club and he was selling Eagles that he got from the mega dealer for $5 over spot. The pricing you see seems to be par for the course.
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Pillar of the Community
Canada
3692 Posts |
Fair enough, but what I'm getting at is that if I were in the business I would not sink $10 (over melt) to make $11, not even with demand the way it is now. That's a lot of capital for a measly dollar. That's all I was saying. $34 invested to make a single dollar?
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Pillar of the Community
 United States
589 Posts |
@ Libertad, I'm sure my LCS wasnt completely being honest with me. I'm not one to judge quickly but I'm thinking he wants to make a bit extra money and came up with this explanation for the 11.00 over spot. Either way I went on APMEX and seen what I want. I am going to order by months end the 1oz silver Chinese Panda, the 1oz Austalian Kookaburra, the 1oz Australian Koala and the 1oz Silver Maple Leaf. I am glad this happened with my LCS so now I will have these coins in my collection. |
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Valued Member
United States
178 Posts |
i think 1 dollar work for dealers if they buy and sale a monster box (500 dollars) but less than that to make a dollar no make sense to me...
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Bedrock of the Community
13014 Posts |
Im going to have to agree there was some number fudging on those buy and sell prices. To much risk for very little pay off
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Replies: 15 / Views: 1,784 |
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Posted 04/24/2013 4:12 pm
