Just interested to know what other people are paying over spot, also keen to know what the facination is with silver coins?
I like bars personally. $0.69-$0.99 USD over spot. Some people like coins for numismatic value....meaning premiums are higher as they become older. Also, some like coins b/c they are issued by government mints, and much harder to fake.
Yeah, I'm in USA. Most times when premiums are reasonable as mentioned above, I'm out $5 in shipping.
I'm in the US. I stack coins and I'm averaging about $2.50 per oz over spot. The shipping is included in that price. I like coins because I am a numi collector also so it just makes more sense in my head that bullion is best in coin form. My current goals for silver are almost met so I am switching back over to gold soon (gold seems to be holding at the <$1100 mark which is my buy point). Once I've met my gold goal and I switch back to silver I think I am going to stack some 5 oz coins (I really like some of the ATB and 5 oz Libertads) and maybe some 5 and 10 oz bars and see what all the fuss is about
usually between .70 and 2.00 for normal rounds and coins. Little more little less depending. In the U.S My LCS does 1.40 over spot, recently has been 1.70 over spot.
My local LCS does $2-$4 over spot, and only pays spot or lower from customers. (No wonder they have no inventory & customers) The mailman is my dealer. lol
about $1.29 over spot, up to around $3.39 for 10 oz kooks. Free shipping when you order over $3000 usually. Otherwise, like $5 - $15
Spot and "over spot" are not proportional. If it costs say, $2 to manufacture, store, and then distribute a coin, then this will always be the minimum before it reaches a dealer whom may add another $2 on top as a retail gross profit. So at $20 spot, 20% would be the cost over spot or $24 per coin. If spot drops to $10, the overheads remain the same so the premium which stays the same, takes the coin to 40% over spot or $14. Where this may change, is when spot rises to say $30, because 20% over spot may be considered industry norm, the mint and the dealer may increase their return on the coin to $3 each, thus taking the coin to $36, not $34. Where savings can be made is by buying say 10oz bars which amortise the manufacturing and dealer costs over the increased weight. Finally, by buying local and picking up the coin, postage and insurance costs are negated, which usually add significantly to costs. Finally, you need to decide your category of stacker; if you just accumulate, then you just tend to buy on the dips and dollar cost average. If you are a flipper, then you look to buy intelligently and sell discretionarily. If you are an investor, then you're in the wrong game.
I buy on dips...DCA all the time...and, yet...I buy intelligently. I'm also an investor...and have done rather well on silver. I'm in it...for as long as it takes to profit. I never sell any silver if it's below my DCA. I'll just simply hold onto it. purchasing at $1.39 over spot right now, with free shipping and insurance...as the "local" guys aren't quite as discounted.
I picked up some 2015 silver Maples today for $2.50 over spot. Not a whole tube but some loose ones (that I put right away into airtites). These are the first Maples I have bought with the radial lines and micro-engraving. Much prettier coins than ASE's in my opinion (as long as they don't milk spot LOL). Jim
They can be purchased in online for cheap. http://www.air-tites.com/Air-Tite_Ring_Type_Coin_Holders_1.htm#.VbAGWPkili0 Jim
When I can get them on the cheap (say around $1.50/oz over spot) I don't mind picking up some rounds/coins, I figure if I ever try to sell privately to get back some premium then a little diversification is a good thing. If I want to buy something and need to raise some cash for something then I can put up a few different things to sell and I'm not reliant on people having an appetite for one particular thing that week. It isn't at the core of my stack though. I know some people who are prepping/end is neigh types pre coins and rounds, often in fractional sizes (even though they attract higher premiums) because they think they'll be using them to buy things one day and smashing the tip of a corner off of a kilo bar to buy a chicken isn't convenient. I've got some big old silver coins in the stack, Morgan/peace dollars and 1937 crowns, not as many as I used to, but some. The good thing about them is that the price has more or less bottomed out, if silver went to $15 or even a little lower Australian then my Morgans are still worth $35, peace dollars $30 and crowns $40 give or take a little for condition, but if silver goes to $35 then the price of all three coins will go up. I was planning on listing some of my nicer silver dollars and crowns soon actually, it'll be interesting to see how they fare.
Hey JP, have you been making much use of the steering dollar to buy things from overseas? Just thinking that there must be some pretty good deals for you here in Australia since the aussie got sucker punched. The kilo dragons a guy has up in the for sale section here are only about $590usd, have to pay postage though I suppose (probably an extra $25usd). For a little while I had a guy buying some of the nicer perth mint stuff off me since the premiums were a little extreme in the US. Can't help but think that there would be a possibly for some money to be made if you could parcel up enough to reduce the postage cost of each item to a reasonable level.
I buy cast 1 kg bars, my dealer is about 10 minutes from my home and she is never out of stock. I pay $1.40 over spot which is the cheapest I can find in Queensland. I experimented with trading and selling a year ago when I first started stacking just to see how it all works.
Is your dealer happened to be located in Southport.? Certainly pays well for silver and gold. Couldn't find any selling prices on web site. Regards Errol 43
Haven't really thought about that. I don't think there's a huge separation in prices....is there? My only way to sell would be feebay.... So I've just been stacking low premium bars for the long haul.
6-7 USD over spot (including postage). The cheapest I can buy in my country. (When I am lucky and do not pay aditoonal 45% customs fee and taxes).
