What is a fair price to sell dealers BU Silver Eagles?
MKUltra24
Posts: 652 ✭✭✭✭
Hey everyone,
Today I was in Spring Hills, FL and I went to a shop to see if I could sell or trade some ASEs for gold since I’m running out of space in my safe.
I was hoping to trade 75 ASEs for 1 AGE.
The dealer said he pays spot + $2 for BU Silver Eagles and spot + $50 for Gold Eagles.
At the time silver was $23.75 so he was offering $25.75 each.
Is that a fair price? What do most dealers pay? I’ve met some who offer spot and no more and I’m just curious so I don’t end up getting ripped off.
Thanks! 
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Comments
You were hoping to trade 75 ASE for 1 AGE and were quoted better at 71 ASE for 1 AGE. Do you do the deal?
Knowledge is the enemy of fear
Nowhere in his post does he state the dealer’s AGE sell price.
Haha. Thats what one gets for posting in the middle of the night when cant sleep.
Even the overpriced bullion dealers are offering AGEs for under 1900 so he should have been able to make the trade for 73-74 ASE.
Even at spot +150 on the sell side the OP would have gotten his offer.
Knowledge is the enemy of fear
Premiums are quickly dropping but you should be able to do better than +$2. My LCS was offering +$4.50 last week and I'm still getting slight interest +$6.5 at the retail level. Some wholesalers are still offering around $4.
You mention you were hoping to swap 75 ounces of ASE for a AGE. That's exactly where the GSR is right now so your realizing a $150 premium on the sale of your ASEs @ $2 over. Most of the big online dealers are currently selling AGEs at 5-6% premium so you are looking at around +$100. Looks like you are already better than 75:1 even at $2 over.
The whole worlds off its rocker, buy Gold™.
Oops that was my mistake I meant to type 70 ASEs not 75. It’s super late here in CA. O_o
Really you can sell yours for $4.50 above spot?? Where do you go??
I would be ecstatic if I could get even $3.25 over spot for my sealed tubes of 2020 ASEs.
JM Bullion is offering $4.50 over spot for SAE's
https://jmbullion.com/my-account/buyback-products/
Oh wow thanks!! Maybe they will do a trade for 1 oz of gold.
One should not make the mistake of thinking a drop in price is also a drop in premiums. This can lead to bad timing of a major purchase. Premiums that remain strong in the face of a weakening price support a decision to buy the dip.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
ASE premiums are/have been dropping and will continue to do so. RGDS!
The whole worlds off its rocker, buy Gold™.
As a percentage of ASE price vs. physical spot price they have not been dropping, they are holding - they remain strong. The weakness is in price, not premium. When the price of A (the ASE) is heavily dependent on the price of B (the paper silver) the price of A will naturally decline with the price of B. You continue to confuse the percentage difference between the two (the premium) with that of the price of both.
As explained to you in the "Silver spot vs premium tracking thread," simply because the price of an ASE drops in step with a drop in spot price does not mean premiums have dropped. It means prices have dropped. In such a scenario premiums can in fact increase, bearing witness to the current strength of real silver vs. make believe silver.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Derryb, we appreciate your attempts to spin and misdirect. We really do. But more importantly we value fact. And following are facts.
Several months ago ASEs were selling at $10 premium over spot of $28 for an "insurance policy cost" --as you would call it--of $38.
Today ASEs are selling at a $7 premium over spot of about $23, making your insurance policy cost $30. And if you wanted to cash in that policy youd get $28.
At the same time a 100oz bar would have cost about $32. And today youd cash it in for $24. Both the ASEs and 100oz bars dropped about 25% from peak ask to low bid.
That looks like dollar destruction to me. Your paying of extra $$$ over spot did not offer any protection. And physical certainly did not offer any protection over paper.
Knowledge is the enemy of fear
I traded a forum member 100 eagles for a gold Eagle, once. Strait trade by GSR. Got my butt whooped. Is that fair ? I'm a dealer ( albeit not bright ).
And the only reason that happened above was because I asked if anyone ever traded by gsr. I was wanting the silver for gold, too. Oops. Customer wins.
Talk about spin and misdirection, if you wanna talk facts, be sure to get them strait. Using your own source of data from your premium tracking thread, current ASE premiums are 8.99, not 7.00 and that is based on the $1.00 off sale price. If not for the current sale the premium would be 9.99.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
GSR is a good tool for assigning current value fairly to each of the two metals when making a trade or making a decision on which to buy. Unfortunately as your case implies it then moved in the wrong direction. That's a chance we all take with PM purchases. It could just as easily have proven to be a great trade. This is why GSR trend is as equally important as current value.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
>
Here you go, $5.99 over and your welcome. Now stop overpaying at APMEX. lol
https://monumentmetals.com/2021-american-silver-eagle-type-2.html
The whole worlds off its rocker, buy Gold™.
and what was the premium at this location when the premium was $10 at APMEX. You can't pick your low price seller and compare him to your high price seller and say "look at the difference in premiums, they're dropping." LOL
The discussion is about changes in premiums with the same product from the same seller not the difference in price between a high and a low seller. But, hey, spin it anyway you gotta to make your "facts" stick.
But if you want to change the topic, you are correct, shop around, - I do. My last ten tubes were bought for $2.50 over spot.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Bullion buyers will pay a premium based on what they consider the quality and re-sellability of a particular bullion product. As past and current premiums prove (yep, another fact that is not conspiracy theory), ASEs rank high on that list.
If you have a question about a bullion coin's role as a collector item, you should probably ask that question on the US COIN forum. There are many serious collectors of modern bullion coins who want the best coins they can find. One man's junk is another man's treasure.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
yet to over 17,000 recent ebay shoppers, in NGC slabs alone, they are collectible
pennies are common yet they are collected. collectible does not require "rare," it requires "want."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
that's why we each get to chose what we want to collect. I don't collect ASEs but who am I (or you) to chastise those that do.
Morgan dollars were originally issued as bullion to create demand for the Wild West silver discoveries. You really should go over to the coin forum and pick a few fights over bullion coin collecting. The experience will serve you well. lol
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
You've been collecting ASEs for over a decade and your still nowhere even close to breakeven. Perhaps 2030-2040 will serve you well.
The whole worlds off its rocker, buy Gold™.
There you go again, pretending you know the trades of others. You really need to focus on your own so that you don't stay underwater. I don't collect ASEs. I hoard raw bullion silver, primarily in the form of ASEs and 10 oz RCM bars. I pay bullion premiums, not slabbed collector premiums.
My hoard of silver is well above water, but thanks for the concern. Unlike you I know when to buy and when to liquidate. My buy/sell process has grown my hoard multiple times over the years using only the flipping profits to make it grow. So, don't pretend to know how to profit with bullion when you admittedly can't do it yourself.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
It's quite simple, don't collect them. lol
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
You forget that many collectors collect for the simply joy of collecting. It's not always about profit. Modern ASEs, especially with their numerous mint varieties in recent years, give collectors something that is readily available, fun and in most cases, cheaper to collect.
I once had a friend in grammar school who collected buggers under his desk. Let the collectors enjoy their collection.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
High mintages don’t mean much.
Believe it or not people actually pay over $100 for all of these coins in MS64 or better.
Oh and the 1893-S Morgan Dollar sells for tens of thousands of dollars in MS condition even though there were 100,000 made!
Compared to only 75,000 V75 ASEs.
Let me guess. The OP still has his silver and the dealer still has his gold and every opinion after is fluff and meaningless. Why ? Because they're opinions.
Actually I traded some silver for a 1/10th oz AGE.
Opinions help because I don’t want to get ripped off.
I don’t know how many times I’ve bought something and then when I share it I’m told “you got ripped off why didn’t you ask if you weren’t sure?”
So I asked this time.
You’re 100% right. I agree with everything you said.
However having said that you’re thinking about right now at this point in time.
Who knows how many will still be in MS69 or 70 grade 100+ years from now.
I’m sure if you went around in 1893 and told people you were buying 1893 S Morgan Dollars for $5 a piece they would’ve thought you were crazy.
I can’t speak for others but when I buy things I buy them for the long term.
A better example would probably be the state commemorative half dollars.
I have a 1925-S California Diamond Jubilee Half Dollar commemorative in MS64 condition and those sell for a few hundred dollars even though all of them were sold in high grade and none of them were ever intended for circulation.
They might not have been worth much in 1926 or 1927 but over time many of them were lost, damaged, etc., and now they are worth way more than $0.50.
I remember when I was little I thought my Pokémon cards would be worth a lot of money some day.
I was right
.
Unfortunately my parents didn’t believe me and threw them all away when I joined the military.
Now am I saying that BU ASEs are going to be worth $10,000 some day?
No of course not.
But is it possible that some of the proofs with limited mintages like the V75 will be worth a couple thousand some day decades from now?
Absolutely.
Not sure this helps any but JM Bullion, now, is
selling random year AGE for $1898
buying random year ASE for $28.47
that would be 67 ASE for 1 AGE
if I'm interpreting this correctly?
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date