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 Replies: 34 / Views: 2,805 |
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Pillar of the Community
United States
4008 Posts |
My wife wanted to get me a birthday gift and suggested that a coin would be ideal for that... and I wasn't gonna argue with her about that!  She suggested that I go to the local coin dealer next to her shop and pick out a coin. When I went over there, I found that while he didn't have any 90% silver coins, he did have 9 ASEs from various years. Most of them were in the late 1980s and 1990s. He said that he would sell them to me for whatever the current spot price was, so I jumped at that offer and bought 8 of the 9 ASEs for $314. After I left, my wife went over and bought the 9th and last one from him for my present. With lots of places selling ASEs for spot plus $4-5, this seemed a pretty darned good deal, not to mention the "freebie" that was tossed into the mix. With these added to my silver stash, I am now up to 108 Troy ounces. All in all, a very good day, indeed!
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New Member
32 Posts |
Sounds like the dealer got the best deal there to me. Those are just silver bullion coins and will lose value when the price of silver drops.
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Moderator
 United States
16679 Posts |
As long as the economy and dollar keep going in the wrong direction, it can only go higher.
When to cash in is the question.
swcoin.ecrater.com
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Pillar of the Community
United States
3670 Posts |
Edited by Silverhawk74
08/01/2011 10:13 pm
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Pillar of the Community
United States
667 Posts |
First Happy Birthday, second nice job at getting spot price, I have a friend who sells them to me at spot too. I'm a bullion guy too so saving a few bucks is always nice. I would have bough them at that price too.
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Pillar of the Community
United States
2130 Posts |
Happy Birthday and Congrats on your newest additions!
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Pillar of the Community
United States
2049 Posts |
Quote:
Sounds like the dealer got the best deal there to me. Those are just silver bullion coins and will lose value when the price of silver drops. And they go up in value when silver rises. Do you have any idea what the premiums are on silver Eagles? Local dealers here sell them for spot + $4-$6 each so to get them at spot is something I would do all day long. The fact that some dealers buy them for spot + $1 around here further confirms that. |
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Pillar of the Community
United States
5825 Posts |
Nice score!
My guess is Silver will be over $41 before this week end.
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Valued Member
United States
370 Posts |
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Pillar of the Community
United States
830 Posts |
Yes, Happy Birthday Ed. Good deal! |
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Pillar of the Community
United States
5854 Posts |
Great purchase! That is one impressive stash of silver! I wished I hoarded some early in my collecting days when it was a lot cheaper.
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Pillar of the Community
United States
2120 Posts |
Very nice. I would buy all I could at that price.
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Valued Member
United States
200 Posts |
Good buy and a HB to ya, too!!! I feel, while Joe is correct, he misses that people consider these as collectibles, so they maintain a numismatic value above spot. This value is hard to refute when a 1996 or a '06-W Burnished sell for a noticeable premium over their bullion value.
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New Member
32 Posts |
Yeah that is dealers that sell them American Eagles at $4-$5 over spot price because they need to make a profit. Unless you have a store you will never even get spot price when selling the silver back to Ampex or another dealer.
If silver does hit $50 the wealthy that have more silver then the little guy will sell it at half that price in a second dropping the silver market like a rock and making huge profits from when they bought it at $7. Like always the little guys like on here will be stuck with devalued silver.
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Pillar of the Community
United States
830 Posts |
Edited by GoThunder
08/02/2011 12:47 pm
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Pillar of the Community
United States
931 Posts |
APMEX was paying $3 over spot about six weeks ago. Why would the rich guys sell for $25 in a $50 market. They wouldn't have missed a chance to sell at $3 over spot to a major dealer that could buy all that was offered. There's nothing wrong with being a precious metals bear but don't be ridiculous. Is there a block feature on this website?
Edited by junior e
08/02/2011 12:52 pm
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Replies: 34 / Views: 2,805 |
Posted 08/01/2011 9:51 pm
