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 Replies: 7 / Views: 3,469 |
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New Member
United States
19 Posts |
Anyone exchange of your silver for gold at LCS ?
I was thinking of converting some of my silver into gold using gold to silver ratio and then seeing what the LCS would want on top of that to make the deal. In terms of cash, what have any of you paid for this service? Assuming the LCS would even want to.
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Valued Member
United States
442 Posts |
With my guy, I think he would just treat it as two transactions, with no real discount. Spot for the silver and apply whatever that was to the gold plus his gold premium. Which, like most dealers, varies based on how much gold you buy.
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Pillar of the Community
United States
814 Posts |
Quote:
With my guy, I think he would just treat it as two transactions, with no real discount. Spot for the silver and apply whatever that was to the gold plus his gold premium. Which, like most dealers, varies based on how much gold you buy. . I'd be inclined to agree. It works the same way if I'm exchanging 90% junk for bullion, ASE, silver dollars, etc. |
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Pillar of the Community
United States
3343 Posts |
There's never been any bartering at my LCS. Sell one, buy the other, according to the prices posted on the screen.
That said, the prices differ according to the source. There is some difference between Pandas, Eagles and Krugerrands. Scrap sterling flatware and gold jewelry sell considerably below coin too.
I found a ring in a parking lot after snow melt one year. The dealer weighed it, paid me, and tossed it in a little pasteboard box. Very similar to curbside recycling....it was all going to the melter....
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
01/09/2020 5:53 pm
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Pillar of the Community
United States
8137 Posts |
At the coin shop I work at, we treat it as 2 separate transactions, one where we are purchasing coins from you, and another where you are buying from us.
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Pillar of the Community
United States
7276 Posts |
What coin collector said. I traded junk silver for ASE, I got a fair value for the coins I traded and paid a fair price for the coins I received. |
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Pillar of the Community
United States
4333 Posts |
No, because almost all lowball. If you want to get 95% or better, try CCF, or secondly, Provident Metals.
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
287 Posts |
Agree with fistfull, Provident ( JMBullion) have pretty fair prices on both buy and sell so you could have a baseline there. You may find selling there and buying elsewhere to be somewhat better. Better yet, find an individual on the forums that is looking to go the other way on a trade and you may both win. |
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Replies: 7 / Views: 3,469 |
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Posted 01/09/2020 12:03 pm
