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 Replies: 14 / Views: 4,765 |
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New Member
Canada
36 Posts |
Is 3 dollars over spot decent? My local coin store sells buffalo rounds for that.
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Bedrock of the Community
United States
10982 Posts |
$3 over might be okay if you're buying one round but sure isn't good if you're buying a quantity of generic rounds like Buffs.
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Pillar of the Community
United States
1192 Posts |
I pay $7 total for 90% half dollars. However I get to pick them out and I never get one under xf. So premiums depend a lot on wheter you happier being able to hand pick stuff and quantity. I'm more then happy to pay about $1.50 premium to get a good coin.
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Pillar of the Community
Canada
3049 Posts |
Check a 1/2 dozen coin and silver/gold suppliers either in your area or province... find out what the going rate is...
Remember with generic silver.. silver is just silver... don't pay premiums because of some pretty picture on it..
If store A is selling generic rounds for spot +2.50 and store B is selling for spot +3.00.. Even though you live closer to store B... mention the other store's premium and ask if they can match the price...it's reasonable and most dealers will do the deal.
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New Member
 Canada
36 Posts |
yeah but the thing is, the buffs are the cheapest rounds they have. That's really the only nearest coin store near me, all the others are 1+ hours away.
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Pillar of the Community
United States
586 Posts |
Many online bullion dealers only charge $1 or less premium for 1 oz silver buffalo; and they usually offer free shipping when order size passes $99. Check out JM Bullion and Provident Metals; and you can pay by check. Edited by leon1998
11/03/2015 6:44 pm
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Pillar of the Community
United States
586 Posts |
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Pillar of the Community
United States
4333 Posts |
Provident Metals less than $2 premium on generic buffalos.
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
3049 Posts |
When you walk into a store.. they don't know where you live!
All they should be concerned with is if you a) have money in your pocket and b) you're willing to spend it.
If you meet both of those criteria anything else can be negotiated... including premiums!
If you can show them you know your prices and are savy if they want your business they should be reasonable.
If I had a store and someone said you charge $3 premium while this other store charges $2.25... My next question would simply be how many ounces do you want.. and give it to you at $2.25 premium.
a) Now I'm moving the product and not a competitor.
b) I'm still making money
Now some others have suggested online bullion providers. Since they're not B&M shops their overhead can be lower and therefore they can advertise lower prices... but a B&M shop won't be able to compete with such low premiums. You have have to factor in extra costs such as shipping, and seeing as you're from Canada dealing with filling out the forms if it's .999 so you don't pay duty or taxes on it... or having to pay duty and taxes and THEN going through the reimbursment for it.
A there are some reputable dealers from Canada... Gatewest being one ... Silver gold bull being another... find out how much each place will charge over spot... plus shipping + insurance.. and that will give you some negotiation strength.
If you go into a shop and say I want X rounds and will pay spot plus $1.50 .. and have no valid argument... they'll probably just shake their head.
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Pillar of the Community
Canada
3692 Posts |
Ignore Leon, he is American, different market. Canada is very vast, to the max! Input A) the exchange rate, B) where you live, C) what better you can actually get it for, and D) the dealer doesn't care what "Other" price you can get silver at. You're paying for the form of silver, that is, a coin from a private, or government mint, that is "worked" into a certain form, ie. a coin. If you don't know what that means, then pay up or pay for junk!
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New Member
Canada
36 Posts |
Quote:
Ignore Leon, he is American, different market. Canada is very vast, to the max! Input A) the exchange rate, B) where you live, C) what better you can actually get it for, and D) the dealer doesn't care what "Other" price you can get silver at. You're paying for the form of silver, that is, a coin from a private, or government mint, that is "worked" into a certain form, ie. a coin. If you don't know what that means, then pay up or pay for junk! Do local coin stores normally stock on junk silver? https://www.canadianpmx.com/ this place which is local to me, I dont think they stock on junk silver. Edited by mehguy
11/08/2015 9:05 pm
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Pillar of the Community
Canada
3692 Posts |
Try the place right across from there. Shop around for the best price and see if the other guy will match it.
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Pillar of the Community
United States
898 Posts |
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Pillar of the Community
Canada
3049 Posts |
My local store doesn't keep a lot of "junk" silver around.. but that's because they have a pretty darn good deal with the mint. Sometimes you can find "junk" silver by smaller dealers or gold buyer places... and such.
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Pillar of the Community
United States
4333 Posts |
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Replies: 14 / Views: 4,765 |
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Posted 11/03/2015 5:16 pm
