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 Replies: 10 / Views: 1,401 |
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Rest in Peace
United States
4849 Posts |
dealers forget to update their coin prices when precious metals go up!  I purchased this 20th century type set, with 1907 birth year collection today for $95. The melt value of the silver alone in this set is $115!  Then got this american president collection for $12, with $16+ of silver in it.  woohoo! |
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Valued Member
United States
188 Posts |
Sweet pickups!! I am eager to get started on my new 7070!
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Pillar of the Community
United States
2734 Posts |
Quote:
dealers forget to update their coin prices when precious metals go up! One dealer here deliberately didn't update some of his silver world coin prices, just so he could see which of his customers were astute enough to buy them.  I picked out six nice 92.5% Can./Aus. coins, and he said "Nice job, they're all below melt." I was a bit embarrassed until he explained the above "test".  |
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Pillar of the Community
Canada
3692 Posts |
I actually don't like it when they don't reset their prices. It makes it very hard to haggle and trade when you have to ask what every single piece is going for.
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Pillar of the Community
United States
757 Posts |
yeah where do you guys go for this stuff? I don't have any places here that sell coins.
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Valued Member
United States
364 Posts |
I've learned to watch those sets like a hawk if you're looking for melt. Also, carefully inspect those bullion replica coins that are not marked with the silver content on the coin. I picked up an Iberian Morgan dollar proof replica earlier this year -- dealer had it at $10. The slip included with the coin described, among other things, specifically how it was minted with a troy ounce of .999 silver. $10 for $21 in silver at the time was pretty slick :) |
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Valued Member
United States
463 Posts |
wish the dealer I go didnt update his prices. He goes with exact time spot when selling
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New Member
United States
25 Posts |
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Pillar of the Community
United States
2734 Posts |
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He goes with exact time spot This is common procedure for gold bullion. Silver, some base it on London Fix, so the items will be the same price all day. (ie. item "x" priced at London Fix Silver Spot + $2.00) |
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Moderator
 United States
189222 Posts |
Nice purchase, Johnny! |
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Valued Member
United States
455 Posts |
It looks like you got yourself a bargain at the dealer's loss. It appears that he is overwhelmed a bit and unable to adjust prices due to precious metals increases. Or if he forgot to update the set, he should sell it for the price that was on it. It would be bad business to update that at the time of purchase.
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Replies: 10 / Views: 1,401 |
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Posted 11/07/2010 11:29 am
