Discussion in 'Bullion Investing' started by chungt, May 25, 2020.
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Welcome to CT. As a collector as opposed to being a dealer, the first thing I would do is to see if they are magnetic. Easy to do and helps a bit. Only other thing is to see that they are the correct size (diameter and thickness) and weight. Finally photograph them and post it here...if you get more people who think they are valid vs those who think they are fake, you're probably good BTW, are we talking about tens or hundreds of coins here?
Thats what i am afraid of. He is a reputable dealer doing business in the area for 20 plus years minimum. He said there are only two categories of silver coins. Ase and generics. He said anything outside ase, he considers them generics and sells them +$1 over spot.
I would want to do the checks at the spot of delivery. Asking him and maybe doing a couple of verifications on my own would not looked down upon, right?
i bought in the hundreds.
Just carry a magnet along and pass it over them.
does that shop have a web site?
Welcome to CT.
Funny stuff! As most people know, I don't collect silver, I mean I have a couple of handfuls of ASE's but it's not really my deal! How about you FD, are you a King Kong in the silver world or only in the gold world?
The Silver Quackery never ends. Your future depends on holding silver about like it depends on you having cans of play doh.
I don't understand why you didn't receive these today. They don't have stacks of these coming in from 3 different mints that they are willing to sell at $1 over. These must be coins that he is expecting to be buying from a walk in. He shouldn't sell those until he has them. The walk in may never come. Something seems weird here. I have never gone to an LCS and bought coins he didn't yet have in hand. Now he will order them for customers but that's gonna be more than $1 over. Anyways, it's not really that hard to find silver at $2-$3 over right now. There are a lot of idiots overpaying yes but with a little effort you can still find it at $20 an ounce so I wouldn't assume $1 over is a red flag.
I bought a monster box of 2019's presale in Dec 2018 for $7,500, I don't think I will have them much longer I never told my wife, I guess it's now safe to come clean on that purchase, maybe not
$33,500.00 for the 2020 P ASE Monster box, the Mint and the tpg's teaming up on the public again , if my math is right that is $67 a coin (APMEX) but hey it's a Emergency coin right LOL!!
To anyone just getting in on the Silver stacking be careful, $10 to $12 premiums is not the way to start out, you might be holding for a very long time, it been a crazy 2020 so far and there is still 6 months to go.
to everyone here stay safe and stay smart!!!
Now, you are getting me worried. This local dealer have been in business in this area for over 40 years and he is definitely a respected seller in this area. I have already paid the guy in cash. He told me the delivery would be in tubes and the coins will be in new condition. Considering his reputation and his general business history, i took his word for it. Yes, i could see the flip side in what could be some red flags but should i genuinely be worried here?
Sorry to say but thats just a dumb comment on so many levels...
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