my local coin shops say that 4.00$ over spot is the best they can do. i read another post that i lost track of, saying average spot is $2.20. is the 4 dollars over spot mainly because i live way up here in maine and there really isnt that much for collectors ? any advice will be helpful
4 dollars over spot is quite a lot if your talking about junk silver. Have you tried to call other coin shops around where you live and they are all $4.00 over spot? With that price you're almost better off buying on ebay.
I suppose it depends on what you're buying and how much of it. Either way I'd say find reputable online dealer and compare pricing (including shipping).
yea i was going to buy a .999 silver coin from 2012 and it was 8 over. i think being in maine, these guys have to drive far to replace the coins. so i just bought $1.50 in 90% silver quarters for no premium, +tax should i just stick with doing this to prevent the spot charge ?
It depends on where you are, some of the local shops (within 100 miles or so..) are Currently selling silver eagles for $40. While I think it is a lot, at that price, they are still flying off of their shelves... It all depends on the location and the competition.
I assume you're talking about American Silver Eagles as $4.00 over spot is reasonable for those. $4.00 over spot for junk silver would not be, unless it was really old and in really good shape, but then it wouldn't be "junk silver". Also, $4.00 over spot is unreasonable for generic silver rounds, unless they're collectible. If you're talking about Gold Eagles from a reputable dealer, then jump on it! If you're comparing prices with online dealers like Provident Metals and APMEX, remember to take shipping costs, convenience, and how important supporting a local business is to you into consideration. Sure, it's nice to get the best price, but it's also nice to walk into a store, chat up the owner, hand her some cash, and walk out with what you bought.
If you are writing about $4 over spot for American Silver Eagles then that isn't horrible. It is high for junk silver or generic silver rounds, in my opinion.
Well put. I will go to my LCS all day even if it is a few bucks higher because I trust him and he is fair with his prices. Plus there is no shipping charge and I can hold the coins before I buy them and they go in my pocket right away.
The only ASE's I can get locally for $2 over spot is when silver is up and my dealer has some unsightly ASEs on hand.
$2 is a good price. In my area, I pay 10% under when buying and sell for 10% over when selling on generic bullion and 90% coins. That normally covers me for the daily ups and downs of the market. On silver eagles I sell for 10% over plus $1. I am by far the cheapest in my area but my overhead is lower than my competition as well.
It is a cash for gold place so I think they look for a quick turnover. They will also sell any denomination on AGE and other gold coins for only 5% over spot, however I personally seem to miss out because they never seem to have any when I have time to make it over to them.
