Hey everybody I just got back from my weekly stop at the coin shop to see if he got in any new silver. He pulled out a mixed bag of half dollars and said they're going for $12 a piece. I bought 10, which is all the cash I had on me, but I'm debating whether I should head back tomorrow morning to buy up some more of the bag, about 40 more pieces in total. He pulled 10 at random from the bag and it was a nice mix of JFK's, Walking Liberties and Barbers. Ever have a dealer sell below spot? Especially in a time when a lot of people are buying?
Maybe he hasn't updated his prices during this week's rebound? As of Monday, that would have been right around spot.
sometimes if a dealer is sending things off to the smelters he gets less than spot, so if he sells to you he probably gets more than if he sold to the smelters or another dealer.
The way I see it, some dealers are not completely greedy and will price the coin enough to make a profit from what they obtained it at. If it's below melt, so be it, they're still making money. I like those kind of dealers, unfortunately not too many of them around.
That's what I was thinking, wgpjr. Regardless, I'd like to fill a couple more rolls so I'll be going back tomorrow morning. Thanks for the thoughts everyone.
Yeah, some dealers actually don't check bullion prices every hour. I bought a half a roll of BU Washington 90% quarters (all from the early 1950s) for $120 yesterday from a local dealer. The silver melt value is around $132 and most dealers would ask more than that, especially for BU coins that aren't 1960-1964.
