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Posted 09/04/2010 9:42 pm
So is this place a coin store or one of those places that just buys gold and silver for melting? Around me, the PM buyers that I've talked to are paying 50%-65% of melt for junk jewelry, coins, etc. Of course they're just taking buckets of metal and sending it in to melt down. To them it doesn't matter if you buy or not because the smelters will.
But it doesn't make much sense to me if it's an actual coin store. You'd think that most of their customers are knowledgeable collectors. I can't imagine they'd sell many coins.
I have noticed this, though, on a minor auction site that I frequent. I have watched auctions there for months. It's normal to see common Morgans selling for $40.00+, generic 1 oz .999 silver round, usually ASEs, going for $35-$50.00. I haven't figured out why this is happenning, but it's just nuts.
But it doesn't make much sense to me if it's an actual coin store. You'd think that most of their customers are knowledgeable collectors. I can't imagine they'd sell many coins.
I have noticed this, though, on a minor auction site that I frequent. I have watched auctions there for months. It's normal to see common Morgans selling for $40.00+, generic 1 oz .999 silver round, usually ASEs, going for $35-$50.00. I haven't figured out why this is happenning, but it's just nuts.
