Anyone buy today when silver had a $14 handle?

-j-p-shmorgan said:
PeacePeople said:
Don't worry, the increase in premiums make it the same as buying in the upper $15's. I don't quite understand why anybody would be dancing at spot in the 14's when it costs the same to buy in the 15's.
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Nah, you just gotta look harder and ignore the suppliers with wack premiums.
10oz bars can be found at or under $160. That isn't exactly upper $15 spot price. :lol:
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Agreed. I don't know who is paying so much over spot. A little research, and purchasing enough with bank wire (saving fees) and Free shipping is the way to go!
 
Most coin dealers (legit operations where there is ample competition) base their "premiums" on their replacement costs. I have heard stories where dealers will pull inventory when the price drops quickly. None of my stores do that. They don't care what they paid for the item they are selling nearly as much as they care about what it will cost to them to replace the one they are selling you. If wholesale costs jump, that gets passed on to the buyer. Premiums jump when price drops quickly, and you will see the wholesalers have backlogs. My main local guy is out of all generic silver and only has Eagles and Maples until next week, and those coins/bars are mostly spoken for on new orders he has taken where the buyer had to wait for delivery. He said the silver he orders today from the refiner will have at least a 3 to 4 week delay.

The number of local dealers in any area also has a huge impact on prices charged. I know of some places where there really is only 1 coin store in town and generally those places can get away with charging more and paying less.

Just my opinion.

Jim
 
Decided to sell some of my semi numismatic silver coins and purchased silver bullion with the proceeds. Picked up some tubes of 2015 Britannia silver coins for $2.25 over spot. Nice coins but I like the older ones better.

Could have had some generic for 75 cents cheaper per ounce but they were a brand often copied on Aliexpress so I said no thanks. I couldn't believe the premiums on my semi numis stuff had gone up so much, so I decided I would rather have close to 4 times the amount of silver that I got rid of, plus have some extra $$$ left over.

Jim
 
Picked up a 2014 Tokelau unicorn proof for $30 with COA but no box (I probably paid too much). Says mintage only 2500. I think the reverse proof is a bit nicer, but they didn't have one of those and those had mintage of 50000, so maybe better off with the regular proof.

Also got a cool Freemasonry art bar from 1973 for a buck over spot along with a Picasso art bar for the same price. Some sample pics.

http://www.thecoinshoppe.ca/2014-tokelau-unicorn-proof-1-oz-silver-coin/

http://numismaclub.com/unt/16825-fr...e_silver_art_bar_united_states_corp_ussc.html

http://numismaclub.com/unt/16790-so...vintage_art_bar_silver_creations_picasso.html

Jim
 
Jim4silver said:
Picked up a 2014 Tokelau unicorn proof for $30 with COA but no box (I probably paid too much). Says mintage only 2500. I think the reverse proof is a bit nicer, but they didn't have one of those and those had mintage of 50000, so maybe better off with the regular proof.

Also got a cool Freemasonry art bar from 1973 for a buck over spot along with a Picasso art bar for the same price. Some sample pics.

http://www.thecoinshoppe.ca/2014-tokelau-unicorn-proof-1-oz-silver-coin/

http://numismaclub.com/unt/16825-fr...e_silver_art_bar_united_states_corp_ussc.html

http://numismaclub.com/unt/16790-so...vintage_art_bar_silver_creations_picasso.html

Jim
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I don't think you over-paid at all on a mintage of 2,500. Well done.
 
Got some coins with a Caribbean feel today that I got for $1.00 over melt.

Got a 1974 Proof 20 Balboa in box with COA.

1973 Barbados proof set and 1973 Jamaica proof set, both of these by Franklin Mint. Kind of neat but I'm having a bit of buyer's remorse.

Unfortunately the original owner had to document things on the backs of the COA's and boxes. Apparently I got these cheaper than the buyer did in 1977 per his/her records on the COAs.


Jim
 
Like others say the AUD and maybe a bit of premium increasing has at least coins here not going down much at all. I have a good contact for 10 oz bars and am happy getting a few of those in.
 
Got my 1kg Goat at the bottom. Didn't care about the dollar; watched the spot climb up once GS took my money. Can't help thinking I'm in some way responsible for the rally. Gold Stackers needs to open Saturdays so I can wear my goat like a brooch.
 
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