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 Replies: 14 / Views: 3,419 |
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Pillar of the Community
United States
2541 Posts |
I went to my local coin shop yesterday. They wanted $33 for a silver Eagle. I understand I'm only buying one, but $11 over spot? No thanks. I went with a generic one ounce bar for $2 over spot. Does that seem outrageous to anyone else?
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Valued Member
United States
125 Posts |
$33 dang! I know coined bullion caries a premium but not $33 haha
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Pillar of the Community
Canada
1502 Posts |
would be reasonable depending on the size of the coin shop. Prices, for the smaller shops that can't afford to keep buying in bulk all the time, is more dictated by what they paid for their inventory as oppose to what spot is.
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Bedrock of the Community
13014 Posts |
33 is high for the bullion version of the coin. If it was the proof or the uncirculated with the w mint mark that would have actually been a good deal
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Bedrock of the Community
United States
36744 Posts |
Sounds like the dealer has more in the coins now than he can sell them for. $3-4 over spot is about all you should pay for these.
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Pillar of the Community
United States
1200 Posts |
BB & IGE nailed it. If it was a proof, that was a killer bargain and regular bullion ASEs should be around $3-$4 over spot.
Paying $10-$11 over spot for bullion ASEs is silly. The generic bar for $2 over spot was the right thing to buy.
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Pillar of the Community
United States
4333 Posts |
You can buy ASE's for a little over $3/spot, and nice generic 1oz. rounds for 89 cents over spot through Provident metals. $4.95 shipping this month, any quantity. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
477 Posts |
Shops around here were charging $6 over spot when silver was bouncing around $30, last I bought were $4 but I bought 100.
Rick
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Pillar of the Community
United States
4867 Posts |
I remember my first Canadian Silver Maple Leaf...only paid $4 for it at a coin show and this was back in '88!
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Pillar of the Community
 United States
2541 Posts |
Thanks all. I appeeciate that a B&M has higher costs, but I will have to stick to ASEs at shows going forwards.
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New Member
United States
20 Posts |
At my LCS I pay 24.00 per silver eagle but they are in great condition and come with a slab. (Not a graded slab. just a slab you could easily buy on the internet)
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Valued Member
United States
487 Posts |
I'll weigh in with my experience. On vacation, drop kids off at the attraction. Stop at a antique store where they had a sign saying "we buy gold and silver". Went in the women pulled out 7 ASE and wanted $24 a piece. The women said to me as I was looking the rounds over that silver had reach $21/oz. so I thought $3 premuim not to bad so I chose the 1992 knowing the mintage to be low but the round was toned heavily. Well in WI there's sales tax on precious metals and that added another $1.86 to the sale. I hate paying sales tax, really I do! Come to find out when I got back to the cabin and I went online that silver didn't get out of the mid-nineteens all day. Now that is a $6.36 premuim on the one lone toned ASE. I won't get fooled again, I could just kick myself. Well lesson learned. |
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Pillar of the Community
United States
4333 Posts |
Don't feel too bad RT, I'm surprised an antique store selling ASE's so cheap, usually $30+ When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
Canada
3692 Posts |
At that point I return with eagles to sell to him. $11 wow
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Valued Member
United States
337 Posts |
I bought a 1991 ASE yesterday for $20yesterday at my pawn shop. It's a little toned and dirty but a great price.. Also picked up well worn 1901 O Morgan for $20 as well. Going back tomorrow because he has a lot more coins for some good prices and it's payday. |
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Replies: 14 / Views: 3,419 |
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Posted 09/15/2013 11:13 am
