Well today I went into my dealers shop to unload some silver, melt value at the time was $15.48 I asked him how much he is giving for 90% Kennedy rolls. He said that he would give me $95.00 a roll I think that is a little low however he is my dealer and I have been using him for years so I will take the rolls in tuesday and unload them. What is your opinion does $95.00 seem a little low to you ? Bruce.
Here is $10,466 for a $1000 bag of 90% silver. http://www.apmex.com/Product/24/1000_Face_Value_Bag_of_90_Silver_Coins.aspx Here is $9.97 for $1 of misc 90% silver. http://www.apmex.com/Product/195/100_Face_Value_90_Silver_Coins_.aspx I have yet to find a dealer to match the prices I've seen online, but there is something to be said for the convenience of settling the transaction in person and not dealing with mail, insurance, packaging, waiting for check to come, etc....
No not xavier, however I have been in that shop one time my guy is down the street from there and I am in his shop two or three times a week.Richard the owner of the shop has always been good to me through the years it is Action coin on E.Main St. Bruce.
Low ? I dont think so,it sounds totally fair to me - I always listen to people say that the price doesnt seem fair or right - Why is the dealer in business ? Is it that bad that he is going to make $5 on that transaction ? Not knocking you one bit Bruce but I hear this quite a bit & others really need to step back & look at it from the business owners or dealers side & say would this be even worth my time -? Would you do something like this with all of the time (while it may not be much but it does add up) & then the paper pushing to sell it to the next guy to have it be melted or what ever they may do with it ... $5 profit if you want to even call it that -worth it, I dont think so - Sorry for my little retort but I had 15 or so calls from brokers & people today wanting to sell or price checking & it seemed a few of them really were PO'ed that I was going to make $5 -& 7 bucks on their deals -(more with the bigger ones but for simplicty lets just keep it at mom & pops 2 rolls) I really do like speaking with all of my customers but come on... why am I in business-
Don't forget the value of the copper too. Each coin is valued at about $5.59 right now including the copper content. So a roll comes to about $112.00. Yes, the dealer has to make his fee. So $95 is fair; no shipping, no waiting.
Im glad you have someone you are comfortable with ,thats a hard thing to find sometimes- I was just ramblin ...
When you buy or sell to a store like the one above your not going to get a great deal maybe a decent one but not a great one. from what I have seen of there prices I myself would not buy from them and even more because I want to see what I'm buying. I will be at one of the monthly coin shows I go to on Sunday and I know some tables will pay more then that 10,466. If you look at there sell price of 10,766 and buy price of 10,466 that only 3% difference yet on the 1.00 face 9.97 buy sell at 11.77 a 18% difference. To much of a difference. I bet if you try and buy at 10,766 they will say OH we did not have time to update our system. Melt for 1,000 face now is at 11,973 thats 1507.00 bucks different does not add up to me IMO
I think you received a reasonable price that might be a little low but not too low. One dealer around me is currently paying $9 for ASEs. An honest dealer has to make a few bucks. But that said, I think silver in general and coin silver in particular is currently selling far lower than it will a few years from now. Coin silver "should" sell at a premium to melt value, not at a discount. There is a good chance that the present situation will change when the actual scacrity of silver becomes more well known.
here is another site I found buying 1,000 face at 10531.00 so you can buy at amex for 10,466 and then sell it to Affordable Jewelry and Precious Metals Inc for 10,531 All I'm saying here is buy and sell with local dealers you trust. Most internet dealers arelooking for big profits. Here is link to that site http://www.ajpm.com/htbin/silver.cgi
