True value of second hand bullion

[spannermonkey]

premium is

Exactly!! The further away from the source you get the higher the premium. You are trying to escape an inevitability of the way the market has constructed itself. You live in the wrong physical location...but everyone around you has the same problem. You can try to get around it but we already did the math like three times in this thread and you just can't fix the problem with crafty shenanigans. You live in the wrong place for spot silver!

His stuck in fairyland & NOBODY is going to convince him that the world is flat

EXIT STAGE LEFT

 

[spannermonkey]

premium is

NO

I have a dealer in town who will pay me $40 an ounce for any proof coin I bring him
As long as it has the original box & COA
His even paid me $50 an OZ for certain coins



BUT THAT'S ME ,BECAUSE I'M SPECIAL

 

[DanDee]

I tend to agree with RC, ( I think ) when I buy coins that I like, I buy them for the cheapest price I can find them, but I pay the premium because I want them. When I calculate the value of my coins, I count each 1 ounce coin as having a value of 1oz at spot, not 1oz spot plus premium. If I'm ever so desperate for cash that I have to sell them I HOPE I'll get back the premium, but I KNOW I'll get back spot.

 

[Yippe-Ki-Ya]

.....................I'd hardly call the Buffalo rounds sold by Gainesville Coins "shit". In fact I reckon they're bluddy good quality, good looking, and the purity is 999+ which is all you can ask for!

Totally agree with you on those rounds. I think they're are mighty good looking, even more so when I paid on average only 70c USD premium per coin. I think the gold buffalo is even better looking though.

Did you get the buffaloes in Australia? or the US

Some in the US, some here

 

[hem9]

Totally agree with you on those rounds. I think they're are mighty good looking, even more so when I paid on average only 70c USD premium per coin. I think the gold buffalo is even better looking though.

Did you get the buffaloes in Australia? or the US

Some in the US, some here

And were the premiums .70c over spot?

 

[Yippe-Ki-Ya]

I have seen Gainesville sell 1/10oz gold Rabbits for cheaper than wholesale price from Perth Mint locally last year during a massive sale.

The price was so good some dealers imported from Gainesville just to sell here locally because even after Fedex/UPS + customs fee it was still cheaper than buying from Perth Mint wholesale.

I have no idea how they do it but I assume since they buy tens of millions in metals monthly they have better leverage and get better prices from Perth Mint than your average local dealers (or they're running a loss leader).

I believe that this simply highlights the fact that Perth Mint knows that Australian consumers (in this case of bullion/coins) are a bunch of mugs who are willing to pay a lot more for everything in this life - and bullion is certainly no exception!!

No vaseline required anymore - they're so used to it already. they just bend...

 

[Yippe-Ki-Ya]

Did you get the buffaloes in Australia? or the US

Some in the US, some here

And were the premiums .70c over spot?

The US price was around that, but once you've paid postage and customs this side it pushes the average price per ounce up by a couple of dollars.
Those I bought here already had those couple of dollars worked in! So either way - because I'm resident in Ozz, I had to bend over and take it! :lol:

 

[hem9]

Some in the US, some here

And were the premiums .70c over spot?

The US price was around that, but once you've paid postage and customs this side it pushes the average price per ounce up by a couple of dollars.
Those I bought here already had those couple of dollars worked in! So either way - because I'm resident in Ozz, I had to bend over and take it! :lol:

I thought so. As I would love to get some low premium silver.

.....................I'd hardly call the Buffalo rounds sold by Gainesville Coins "shit". In fact I reckon they're bluddy good quality, good looking, and the purity is 999+ which is all you can ask for!

Totally agree with you on those rounds. I think they're are mighty good looking, even more so when I paid on average only 70c USD premium per coin. I think the gold buffalo is even better looking though.

So I ask my question to lucky luke as I am interested to know where he got buffaloes for .70 over spot as everybody keeps saying the low priced bullion is unavailable in Aus or was he just Bu** Shi**ing.

 

[renovator]

Its threads like this that provide information & entertainment .....I love em ........

 

[hem9]

The whole notion of RC wanting silver with small premiums seems like crap to me, as there have been many silver (predecimals) sold below spot (I just got some for $24oz). These coins are silver and are below spot so why are you not jumping all over them? If you want the pretty 999 stuff then you got to pay the price.

 

[Naphthalene Man]

hem9 - that is too logical.

 

[mmm....shiney!]

Why do Australians stackers put up with premiums on second hand bullion bars and generic rounds?

Dear RC, I got what I think is some 3rd or even 4th hand bullion. You know the type. You can smell 2, 3 or even more greasy hands having fondled them. Are you saying I've been ripped off? Should I be paying less than spot for said items? What about those daggy sovereigns I have? How many hands have they passed through and yet, I paid above spot for them?

Yours

Truly Confused.

 

[lucky luke]

There's loads of crap Buffalo rounds out there - must be half a dozen mints producing them, some are absolutely crap mint/finish quality.

Others are really high quality.

I must have some of the good ones then because the buffalo 1 oz silver rounds which I got from Gainesville looked very impressive. All the more so because of the low premium per coin. Afterall 1 oz of .999 silver is 1 oz of .999 silver.

 

[hem9]

There's loads of crap Buffalo rounds out there - must be half a dozen mints producing them, some are absolutely crap mint/finish quality.

Others are really high quality.

I must have some of the good ones then because the buffalo 1 oz silver rounds which I got from Gainesville looked very impressive. All the more so because of the low premium per coin. Afterall 1 oz of .999 silver is 1 oz of .999 silver.

If you bought it from Gainsville, how about the cost of postage and other charges. Is the premium still .70c?

 

[lucky luke]

.....................I'd hardly call the Buffalo rounds sold by Gainesville Coins "shit". In fact I reckon they're bluddy good quality, good looking, and the purity is 999+ which is all you can ask for!

Totally agree with you on those rounds. I think they're are mighty good looking, even more so when I paid on average only 70c USD premium per coin. I think the gold buffalo is even better looking though.

Did you get the buffaloes in Australia? or the US

I got them from Gainesville in the US hence the reason I indicated the premium it cost me per coin in cents US.

 

[lucky luke]

And were the premiums .70c over spot?

The US price was around that, but once you've paid postage and customs this side it pushes the average price per ounce up by a couple of dollars.
Those I bought here already had those couple of dollars worked in! So either way - because I'm resident in Ozz, I had to bend over and take it! :lol:

I thought so. As I would love to get some low premium silver.

.....................I'd hardly call the Buffalo rounds sold by Gainesville Coins "shit". In fact I reckon they're bluddy good quality, good looking, and the purity is 999+ which is all you can ask for!

Totally agree with you on those rounds. I think they're are mighty good looking, even more so when I paid on average only 70c USD premium per coin. I think the gold buffalo is even better looking though.

So I ask my question to lucky luke as I am interested to know where he got buffaloes for .70 over spot as everybody keeps saying the low priced bullion is unavailable in Aus or was he just Bu** Shi**ing.

hem9......... who are you accusing of bullshitting???!! If it's me, then reread MY posts and then go #### (do nasty things) to yourself. I never said I got my coins here in Australia. Reread my posts mate. I indicated I got buffalo 1 oz silver rounds from Gainesville in the USA for a premium of .70 c US. Thats it. How I got them from there to Australia and how much that cost is a seperate matter, nothing I discussed or mentioned and quite frankly is my business. The second thing I mentioned in my posts was that they were an impressive looking coin, impressive in that most US coins and/or rounds are normally boring as hell.

 

[lucky luke]

There's loads of crap Buffalo rounds out there - must be half a dozen mints producing them, some are absolutely crap mint/finish quality.

Others are really high quality.

I must have some of the good ones then because the buffalo 1 oz silver rounds which I got from Gainesville looked very impressive. All the more so because of the low premium per coin. Afterall 1 oz of .999 silver is 1 oz of .999 silver.

If you bought it from Gainsville, how about the cost of postage and other charges. Is the premium still .70c?

When I think of premium for a coin, then I think of the difference in price between spot and the retailers sell price. Postage, taxi fares, hamburgers for lunch and other charges are not what I consider "premium".

 

[hem9]

As this is a thread about premiums (total cost) of silver bullion in Australia, if you read your post you would assume that you bought these "buffaloes" at low premiums such as .70c and that was your cost thus giving the impression that there was an option to the "high" premiums criticised by RC, as everyone else is informing him that there is NO option, if you want to buy 999 silver you would have to pay the premiums. By the way the statement was not a direct insult but a query, as I do not need to lower myself by insulting random strangers on forums.

 

[alor]

some one get the horns from the silver buffalo, ouch, its a one ounce one

 

[lucky luke]

As this is a thread about premiums (total cost) of silver bullion in Australia, if you read your post you would assume that you bought these "buffaloes" at low premiums such as .70c and that was your cost thus giving the impression that there was an option to the "high" premiums criticised by RC, as everyone else is informing him that there is NO option, if you want to buy 999 silver you would have to pay the premiums. By the way the statement was not a direct insult but a query, as I do not need to lower myself by insulting random strangers on forums.

Well mate, firstly, you make a lot of assumptions. Look again at the first post and especially at all posts up to and including post 10 (by the OP). He is talking about the difference between premiums in terms of bullion rounds and coins. The thread title is "true value of second hand bullion", not "premiums (total cost) of silver bullion in Australia". The thread later morphed off on all sorts of tangents after.

Secondly re: "....or was he just Bu** Shi**ing", what you meant to say, and the impression you gave when you said it, are two very different things.

Thirdly, feel free to stay a random stranger (whether your a site sponsor or not).