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Client Wants 1000 2013 Silver Eagles.

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ewaste's Avatar
United States
33 Posts
 Posted 07/12/2013  9:04 pm Show Profile   Bookmark this topic Add ewaste to your friends list Get a Link to this Message Number of Subscribers
I was just contacted by a client of a client who wants 1000 2013 Silver Eagles.

I take it APMEX would be the best place for these but is there any other recommendations?

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Fuzzy317's Avatar
United States
14463 Posts
 Posted 07/12/2013  9:12 pm  Show Profile   Bookmark this reply Add Fuzzy317 to your friends list Get a Link to this Reply
or you could look on the US Mint's Coin Dealer list
http://www.usmint.gov/mint_programs...ction=lookup
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basebal21's Avatar
13014 Posts
 Posted 07/12/2013  9:12 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Im pretty sure theyre actually cheaper at Provident Metals. I want to say like 30 cents a coin cheaper
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traevin's Avatar
United States
1454 Posts
 Posted 07/12/2013  9:40 pm  Show Profile   Bookmark this reply Add traevin to your friends list Get a Link to this Reply
Looks like they're going for around $25 shipped on ebay for individual SAEs. I would assume someone could get them for $22 or less in bulk, right? Just guessing. Haven't looked anywhere. I was just coming here to comment on how I'm not finding silver on ebay anywhere near the spot price. Not that I expected to. Just an inane observation ;)
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basebal21's Avatar
13014 Posts
 Posted 07/12/2013  9:57 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
I would assume someone could get them for $22 or less in bulk, right?


23 and change seems to be the best anyone has. The mint probably charges a dollar or two a coin then their distributor charges a dollar. 4 over is about as good at it gets besides maybe from a dealer that buys them under spot from people.
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coinwatch's Avatar
United States
808 Posts
 Posted 07/12/2013  11:36 pm  Show Profile   Bookmark this reply Add coinwatch to your friends list Get a Link to this Reply
Provident has US Mint "monster boxes" of 500 "2013" ASEs for (at this moment in time) $11,740.50USD. This works out to $23.48 per coin. Two monster boxes == 1000 coins. Also, If I'm reading this correctly, Provident will ship your two monster boxes, insured and with tracking, for only $24.00USD. Not a bad deal from a trusted and reliable seller.

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SA4H's Avatar
United States
2764 Posts
 Posted 07/13/2013  03:33 am  Show Profile   Bookmark this reply Add SA4H to your friends list Get a Link to this Reply
You can also check out this large/high volume dealer: http://www.tulving.com/goldbull.html (at spot + $3.39) and free shipping.
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United States
511 Posts
 Posted 07/13/2013  07:27 am  Show Profile   Bookmark this reply Add 3stooges to your friends list Get a Link to this Reply
Try Wayne Miller in Helena, Montana. His prices are very competitive.
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barryg's Avatar
United States
5839 Posts
 Posted 07/13/2013  07:34 am  Show Profile   Bookmark this reply Add barryg to your friends list Get a Link to this Reply
Goldmart currently has monster boxes of 2013 ASEs for $11,725.34 (if you pay by check or bank wire). They used to have better deals, but I guess the low silver prices are still driving premiums up.
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VintageRacer's Avatar
Romania
26 Posts
 Posted 07/14/2013  06:49 am  Show Profile   Bookmark this reply Add VintageRacer to your friends list Get a Link to this Reply
That's an immense order!
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coinwatch's Avatar
United States
808 Posts
 Posted 07/14/2013  11:15 am  Show Profile   Bookmark this reply Add coinwatch to your friends list Get a Link to this Reply
Seems a bit risky, too. For the majority of folks I wouldn't recommend buying a 1000 ASE's at the current spot price. Of course, everyone's need and circumstances aren't the same.
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ewaste's Avatar
United States
33 Posts
 Posted 07/14/2013  6:21 pm  Show Profile   Bookmark this reply Add ewaste to your friends list Get a Link to this Reply
Thanks for the links guys. Will be looking into it. Guy is not in a hurry which makes it tougher on my part as silver jumps around.

Funny thing is that the person that wants the coins is a multi million dollar oil person. He is going through a stamp guy that does not do internet stuff (he is not quite worth a million unless you count his stamp business). So the stamp guy is going through me for the coins. I will be marking them up some and the stamp guy will also. Therefore, the client will be paying around $33 each.

Money will be given up front at least. Oil guy to stamp guy to coin guy.

Odd for sure.

On a different note, this stamp guy gets odd clients. I had him buying a 1926s Wheat cent every week for 3 months for $15 each. I was made an average of $7 per coin. He was selling them to a client for $30 each. Mind you this was 1 client buying all of these for way over book value.
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Fat Freddy's Avatar
United States
1200 Posts
 Posted 07/15/2013  09:11 am  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
"Odd for sure" is putting it mildly. Self-made multi-millionaires ordinarily tend to be intelligent, cognizant and wary, but this one is ready
to pay 50% over the going market rate for a giant amount of ASEs at a time when silver prices are known to be unstable and on the slide.

"Odd for sure" is putting it very mildly.
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ewaste's Avatar
United States
33 Posts
 Posted 07/15/2013  10:51 am  Show Profile   Bookmark this reply Add ewaste to your friends list Get a Link to this Reply
The sad thing is that most of the stamp guy clients are older people that don't use computers and have the extra money to spend. He may be a self-made millionare but that is just from finding oil on his property and them buying the surrounding properties with the profits and finding more oil. Not much knoweldge needed for that, just luck.

I know the stamp guy told him $35 each and he countered at the $33.
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Fat Freddy's Avatar
United States
1200 Posts
 Posted 07/15/2013  11:10 am  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
That's really kind of a sad story, but I still envy the poor guy anyhow. Too bad for him that he doesn't know how to go shopping, though.
I found some oil on my land one time, too. Unfortunately, it was only the oil stain on my driveway that had been left there by my old Harley...
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coinwatch's Avatar
United States
808 Posts
 Posted 07/15/2013  2:53 pm  Show Profile   Bookmark this reply Add coinwatch to your friends list Get a Link to this Reply
Well this thread took an unexpectedly sad turn.

First off, we're all familiar with this here thing called the Interwebs so I see no point in "calling anyone out" or pointing fingers. Sometimes things are best politely taken with a grain of salt. At worst, well, some threads were meant to be ignored.

Second, I think it's important to remember that this site has both coin buyers *and* sellers. The story behind this thread was rather interesting until the specifics of the "deal" were revealed. While we all appreciate a well negotiated transaction, price gouging (or the appearance there of) is a real sore point with many members. Giving benefit of the doubt to the OP, I think it was unwise to discuss price without providing additional context as to the "value added" service you were providing to justify such a premium per coin. However, bragging about taking advantage of someone's ignorance is unlikely to get much approval around here. Enough about that.

BUT...getting back to what I was originally going to post. To the question someone posted about why the buyer wouldn't be savvy enough to just buy coins on the Internet, there is a type of person, often smart and successful, and "yes" of a certain age, who would never ever make a serious business transaction over the Internet. For this person, such transactions require personal, face to face communication with their chosen broker or dealer or financial advisory or CPA or whatever. For this person it's less about price and more about the relationship with the person on the other side of the transaction. Such buyers are rare in this day and age, but a few are still out there.
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