Silver- Your Local Coin Shop??

Discussion in 'Bullion Investing' started by fretboard, May 22, 2021.

  1. fretboard

    fretboard Defender of Old Coinage!

    Just wondering if anyone here has gotten any really good deals on Silver from their LCS?Best I could do is $35 an ounce which I walked away from. If the spot price of Silver would go up once in awhile I may be in, but when it floats around at $27-$28 and change, it's just not that impressive to me. Online prices are insane!
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  3. potty dollar 1878

    potty dollar 1878 Well-Known Member

    I haven't been to my shops within the past 1-2 years.
  4. -jeffB

    -jeffB Greshams LEO Supporter

    Dropped by a pawn shop yesterday and they had 10 silver Washingtons at $5.50 each. I didn't buy, but that's a lower premium than I'm used to seeing.
  5. fretboard

    fretboard Defender of Old Coinage!

    Yeah, not a bad price at all, seems fair enough for sure! :D
  6. derkerlegand

    derkerlegand Well-Known Member

    Been a couple months, so price isn't relevant, but I bought some junk halves $10.50 each. Melt is $9.975 right now, so probably wasn't a great deal at the time. You're right, online IS high. I see that provident wants $13.50!
    Last edited: May 22, 2021
  7. fretboard

    fretboard Defender of Old Coinage!

    I know, it's amazing that halves are selling for so much money! Never before in coin history has the world of Silver been as driven as it is right now, exciting times ahead, just not for me. j/k :D I have a mishmash of Silver so I'm not completely out of the loop! :cigar:
    derkerlegand likes this.
  8. FryDaddyJr

    FryDaddyJr Junior Member

    when prices get high you see some people selling off old obscure bars. they get to see the light of day and find a new owner
  9. JayAg47

    JayAg47 Well-Known Member

    My lcs sells generic silver rounds for 40 Aud last time I checked when the spot price was between 33-35 Aud!
  10. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I have been going to the same LCS for 7 years and he tends to give me great prices
    on the generics about half the cost in premium alone, so that always makes me happy.
    fretboard and derkerlegand like this.
  11. losthomer

    losthomer Active Member

    There are no more coin shops here. Just pawn shops that deal in gold and silver. I have never bought or sold PM there. I did have them offer to buy some stuff I didn't want anymore. Their offer convinced me to offload everything on Craigslist.
    fretboard likes this.
  12. rte

    rte Well-Known Member

    In that case you might want to consider buying from craigslist also.
    Good side hustle 8f your pawn guys are so low on their offers.
  13. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    If your like Rick at gold and silver pawn shop
    sounds like it time to call in an expert...LOL

    Pawn shop offers are a joke, they typically
    only want to give you between 60 % and
    70 % of actual value, pocketing the other
    30 plus percent.

    if you want to get ripped off just go to your
    local PB.
  14. fretboard

    fretboard Defender of Old Coinage!

    I agree, they are okay if you need a loan badly or if you want to buy something from them. Occasionally you can get a good deal but not by selling to them at all! Selling to a pawn shop is definitely a rip! :D
  15. rte

    rte Well-Known Member

    It's a business model.
    Quick money COSTS.
    Mr. Flute likes this.
  16. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    if you really need quick cash, I guess it’s
    an option for a last resort.
  17. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

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