I realize that it's a lot like asking "How long is a piece of string," but responders can feel free to ramble. Controlling for outlier conditions (i.e., the economy hasn't collapsed, the dollar hasn't just been devalued, terrorists haven't stolen the Statue of Liberty, it's just an ordinary, run-of-the-mill day in the world), if you were to walk into a dealer (or go online) with a 2013 American Silver Eagle and a 2013 American Gold Eagle, with spot prices (I'm gonna keep it simple) for silver and gold of $100 and $1,000 an ounce respectively, what would be a fair offer to both sides, as a percentage of the current spot price? Obviously, there are other factors -- coin's age, condition, etc., but just assume perfectly ordinary coins. Say you walk in with a 2013 gold eagle in pristine condition. And one that someone HAD to touch and then dropped into a running garbage disposal. And one that they ran through the washing machine because "it looked a little dingy"? And say you had the exact same trio of 1965 gold sovereigns AND 1978 Canadian maples. And a similar set-up for silver.
100% is a "percentage of the current spot price", as is 105%, or 110%. As to the OP, it all depends on a whole lot of variables involved in how much dealers bid and ask. Much depends on the market where the LCS is located and how the owner runs the business. Some areas seem to have more buyers than sellers because the local economy is strong. In such an environment a dealer might have to buy bullion online or offer a little more to get bullion in the door, but has no problem selling it for a little higher than other dealers might be able to. Or, there could be more sellers than buyers because the local economy is weak and they might be able to get all the bullion they want but have a hard time selling it locally. So they might offer less than most bullion stores and sell it online. It also depends on how much of what a dealer has on hand. If someone just came in and cleaned them out of silver, but they still have a lot of gold on hand, they might be willing to pay a higher percent of spot for silver on that particular day. Another factor to consider are any deals they already have lined up. For example, the local dealers have my name and number and are keeping an eye out for foreign silver rounds for me. If someone walks in with a roll of Brittanias, they can offer the seller a fair price for them knowing they're as good as sold.
For an average, run of the mill day, I think a fair deal would be around 95% on the silver eagles ($1.50 under spot at $30).
most places I have been too are between 95-97 percent spot.....i usually saw about one or two bucks at most under spot when silver was around 40 and up.....was alot of people buying then as well though so could be lower now.
For buying and selling, 5 - 10 per cent under and over respectively seems fair to both sides assuming all is just considered bullion.
