Anyone stacking silver or gold at these prices?

*New Jersey eliminates sales tax on gold and silver purchases over $1,000 starting January 2025, benefiting bullion investors and buyers statewide.*
I will step up my bullion purchases now that the odious 6.625% added 'premium' has been eliminated!
For anyone in NJ and elsewhere interested, here is the complete article from the Bullion Exchanges site:
https://bullionexchanges.com/blog/new-jersey-eliminates-sales-tax-on-gold-and-silver-bullion
Wishing everyone a happy, prosperous and healthy new year in 2025!

 

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My situation is kind of reversed here in Nevada no sales tax on bullion but
Costco doesn't sale it here, for what ever reason my next best bet is buying local
which the best price is $135 over spot so its like paying tax if you compare the two.

 

A seller at the Tucson coin show has this silver bar. But it's not silver

It's an ounce of copper 1/1000 Silver plated.
The guy said he probably paid 1 ounce silver price for it and said make him an offer.
I didn't want to share in his pain BUT
Being generous I offered $5 he said how about $10.
Nope I'll have to pass but if the casino is as generous I'll check back.

Plus $9.70 on a blackjack machine...so I'll see if the guy wants to meet me halfway at $7

 

I bought a 10OZ A-mark loaf the other day. He said a price that was descent and I said no tax. We waited about 5 minutes to get a CO tax Id code from corporate. (pawn Shop)

 

I ended up taking a pass.
Looks like Alibaba has them for $1 or $0.50

 

Please notice how gold makes it almost all the way back to the old highs...and not a peep on the news.

That's what I call having a bid underneath !!

Might hit $3,000 this year, certainly looks like long before my 2030 target date.

Next up....$5,000 by 2035 might have to be advanced.

 

Just called Costco and they have GOLD bars back in stock! thats today will be checking on Wed and before I leave on Friday, I really wish they would get the buffalos back in stock they tend to go for a few more dollars plus your still only paying $70 over spot.

 

For pre-1964 silver coins....what would be a fair discount most dealers would give on about $30,000 worth of silver ?

My cousin is handling an estate sale and got quoted too big a discount.

 

For that volume, I'd consider one of the big online brokers (Kitco, Apmex, JM Bullion). Once upon a time they'd all show their buy prices online, but JM and Apmex say "call us".

Kitco shows a price by the troy ounce or gram (presumably coin weight, not actual silver weight); if I'm doing my math correctly, their offer is about 10% back of current spot, after correcting for actual silver content. If that's not the way their offer works, they may be buying right at spot. I've seen buy prices trend above spot and below spot at various points in the past, but I'm not sure where they are today.

How big was the discount your cousin got offered? I figure local dealers basically forward the stuff on to the big players, possibly after cherry-picking, so they'd offer less than you'd get from a direct sale. If they think your cousin isn't well-informed, they might try to get away with a lot less.

 

Close to 40%. Too big a haircut given his fiduciary duties.

He's pretty sharp....I taught him.

We're actually going to go to some LCS and shows to check stuff out and get more quotes so I'll report back.

 

You, as Mr. Wonderfuls' Believed peer, can probably give him a best price, based on my observations of your stated buying efforts.

I pay slightly more than you, and buy the top grade certified P.M. products looking to the future, rather than current markets, but pay more than current, and get a future better price than Mr. Wonderful and you, at least that's what I've experienced.

I believe you can save the expense/frustration of travel/lower-discounts!

JMHO

 

well good news, just called my local Costco if you can call it that...LOL and at the end of business they had today they had 54 pamp one once bars in stock so driving up early AM going to pick up a minimum of 2 onces was going to do more but I got
a couple bids on the bay so I need to get those resolved.

 

Yeah, someone thought he was an easy mark. Or maybe they just didn't feel like dealing with junk silver. (During the big silver slump ~10 years ago, I tried to sell some 40% halves. They always trade at a bigger discount to melt, but at that show, nobody wanted them. The only offer I got was around half melt, low even for 40%.)

 

I plan on exchanging common lower purity silver coins (50%-80%) for US gov issued 90% or 99% silver bullion (modern comms and/or ASEs).

I'm not in the market for gold at this historic peak, but I think silver still has good upside potential.

I have a LCS source for modern comm silver dollars. I bought this weekend for $25 each.

 

Include US 40% stuff in the exchange as well.

 

I did the thing.

Took a bunch of 40%-83.5% common US/world junk silver and exchanged it for a handful of 90% modern comm silver dollars for $26 each.

Liquidity is much better for the comms than that mish-mash of junk silver.