Hey everyone i hope you weekend is going well..but anyway one of the top PM buyers in my small state (CT) dosent pay a premium for ASE. They price at $15.46 per coin in mint condition. 1986- present. Bars/rounds they buy at 15.20 ounce. Granted i know i could get more online but that just dosent do it for me. I like know what i can get for my silver in person at a moments notice.I kinda feel that a ounce is a ounce seems hold up well around here for most.I know you can argue well if you sell online you get more exc but i dont wanna sell online i want to do face to face cash transactions.am i just better off buying generic in my situation? (Spot today 15.58 ounce)
I would say that generic is better in your situation. Maybe ask your PM dealer to give you a list of buy back prices and from that you decide your best buy. Also, I trust that you have a backup buyer in mind, right?
That is what i have done I have a list of buy back prices gold and silver. It says percentage of spot he pays on each kind of round/bar/coin. I do have 2 other dealers lined up. They are around the same price obviously to compete with each other.2015 ASE are selling for around $400 a tube on eBay the dealers buy back was around $308.00 a tube. I couldn't believe it.
That shows that one ounce of silver is one ounce of silver, and ASEs are just bullion coins. I have a few ASEs because they are one of the nicest coins around to hold and look at, but at the end of the day if you don't want to play coin flipping is much better to buy as close to spot as possible.
Sounds like you're dealing with a pretty stingy LCS. I'm in the NE US and the main LCS in my area pays $2 under spot for generic and spot plus $1 for BU ASE's.
yea could be. But i like to know if i had a situation were i was forced to cash in some of my stash for whatever reason i know around about what is payed out in my area.I Dont ever plan to sell but as always never say never...I am searching for better PM dealers.
Its always a buyers market when you need to sell and a sellers market when you want to buy, thats how dealers operate. What is your LCS dealer selling 86 94 and 96 silver eagles for?
With a price driven up and down along bogus orders (futures) in such a degree, searching for a better spot is likely more rewarding.
They don't stock specific years of ASE's. They've almost always got current year ASEs, but past years are catch-as-catch-can, based on what comes in through the door. They're overwhelmingly numismatic-oriented and they don't bother much with bullion or semi-numismatic bullion. They trade in bullion and they always have bullion, but it's just a sideline to them. For one example---they treat silver Libertads as generic bullion rounds because they aren't denominated. I've bought a lot of Libs there for $1.50 and $2 over spot.
Interesting. I almost had to sell my stack last week. Glad things worked out so I did not have to as it took me 2 years to build. I called my local shop where I started buying from to stack and they told me any round (generic or not) was spot minus .50 USD. For reference it is in Florida.
Maybe I read the Thread wrong, sorry, I am new to posting. It appeared to me that there was a discussion on buying back or selling, so I thought I would chime in on what I was told from my LCS last week.
I have not visited it lately as I did/would enjoy going but since they started charging tax (.07) on purchases of rounds that are not ASE I looked elsewhere on line to find cheaper delivered.
You can feel that way about any thread around here. They're a bit like Simpson's episodes - lots of free association of ideas. As to selling silver, as someone else commented, when you come to sell, it is a buyer's market. Far better if possible to avoid any kind of fire sale, so that you get to have some say in who's buying and timing it with spot ups, rather than downs. If you're into buying 'collectables', unless you are particularly astute (or lucky), I think you're going to be disappointed. As for the more generic, our market setters are the paper traders, who don't give a sh.. about you, so our market will always circulate around that price. Any shopkeeper then, will have to set their buy and sell margin around that. And they're in the business to feed THEIR family too, not to look after sellers. This is the reality of the market, it is worth knowing (and hearing about) and these are the facts around which we have to structure pour stacking, e.g. if the market into which you are selling doesn't value the form of silver, rather than its metal content alone, then there is no point in stacking anything except the lowest premium. Personally, I'm more of a collector and like prettier things, therefore more inclined to collect a range of different generics and numis. But I am quite clear - the higher the premium I pay, the more disappointed I should be prepared to be when I sell.
Agreed. I appreciate feedback as I have learned a lot from you Crow and others on the site. I am so glad I did not have to sell my stack but also am changing strategies. Not in it for making a buck, but if I have to sell, like I almost had to last couple weeks was just sharing what my LCS told me. I hope I never have to in a pinch. on A personal note I have enjoyed reading your posts and analysis, as I have others. I think they are healthy debates and everyone has their reasons for having Silver.
A lot better Buy back than Spot minus .50? Treasure Coast. I know that the LCS owners need to learn a living and appreciate that. I bought most of mine at spot plus 1.50 when I started stacking from them. As I said prior I hope I never NEED to sell. If I have to I will. I know the medicinal Value of it as I got to spend a night in the burn unit from putting out a house fire and Silver Pharmaceutical medicine helped (circa 1993). But I did a good job of stacking what I could when times allowed.
