Thread: Premiums

Hi all I am new to the silver scene. I was wondering about premiums. The coin shop near me sells rounds for $4 above spot ....ASE and Maples $6 above... and junk arond $3 above melt for $1 face. I was wondering if this is high? I was looking at provident metals and figured i could get $2 of junk and a ASE or Maple for the same price as $2 junk and a round from my local dealer. Has anyone had any dealings with provident? Thanks for any help.

All the times iv'e dealt with them, they have done a great job.

You're prices are a bit high compared to my normal shop. Junk @ melt, ASE/Maple Leafs +$3, generic bullion @ spot and he had some of the Buffalo Nickel 1 oz Silver rounds for +$1.

When my guy does get larger bullion the premium does depend on the piece. Usually between $2-5 per oz over spot.

4 is a lil on high side, 3 is decent...

You want to remember to figure your shipping costs into the net cost for your purchase online.

that's kiinda high on all the prices. check several online dealers. for generics try westminster mint good price and fair shipping. i buy about 1/2 my bullion online and about 1/2 local but i have a good LCS. some aren't so good so do what works best.

im canada we pay 4 dollars over for maples and eagles, junk for spot, canadian wildlife 6 dollars over.

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Hey, PMD Victim. Are you going to post this in every thread?

PMD Victim i feel for you but this is not the thread to discuss that...

For what its worth i ordered some items from them and received them fine.

OP, it seems the premiums at your local shop are a touch high. Go to a local show and shop around. Maybe if you prove to your local dealer he is high he will sell for you based upon premiums other dealers are charging. Just approach him, after you know the name of one or two other dealers in your area and their premiums, what you have found out. Don't act mad, and simply tell him you would like to support him, but would like to pay the going rate of what other dealers charge. If you are a good customer he should keep an open mind.

Originally Posted by PMD Victim

DON"T DEAL with this company! I ordered 5 - 2012 Year of the Dragon 10 oz silver bars. Only three were delivered in the b ox without the invoice. The FLAT RATE USPS box was not weighed or insured. The packaging was such that any tampering would have been clearly evident and it would have damaged the label (pasted over the tape). Seems like it could have been an honest mistake so I called. They immediately took an offensive position and stated they (rep-Jeremy) would do nothing for me. As for that "every shipment is FULLY INSURED" claim, DON"T BELIEVE IT! You will be left holding and empty bag. This is going to court. Anyone else out there with similar experiences with Provident metals is encourage to contact me ASAP.

My sincerest apologies to Provident Metals. The mistake was on my end and not theirs. After a heeping helping of crow, I must retract the statement above. I will continue to do business with Provident Metals. if they will allow me too. They are a fine company. Jeremy, to you my most heartfelt apology.

^ You need to take it easy and give it some time i have had orders that have taken over 3 months (foreign sellers).

Thanks for all the info think I might save up and try a larger order online instead of just buying a couple coins at a time from my local dealer. That should save me alittle on premiums.