Tuesday's Silver hunt Report

rah1959

Visited 2 B&Ms today looking for some 5, 10 or 100 oz SIlver bars.

One had none...nada......which did not surprise me since I called him on Friday and he had none....was hoping some would walk in the door?

He did have a mixed date roll of ASEs for $320....I passed...



Second guy had no bars......and just 4 common ASE dates....but said he had an order of ASE due any moment...I asked price.....$4.00 over spot...wow....even if I bought by the roll......wow!


Came home...called 3 jewelers I have bought bars from in the past....they had none...

That is my report.

If silver goes up as I expect the ASE roll above at $16 each would not be bad..however....I just cannot pay a $2.50-$3.00 Premium per coin..the other fellow $4.00 was out of question for me.

RAH1959


edited to correct spelling in title

fc

I am just being patient now looking for the right supplier to buy in bulk.
Tired of searching via B&Ms. I want to pick up the phone and just order
once the research has been done on who to call.

Driving around to B&Ms cost me money. Calling once a week or every few days
is becoming annoying. I dislike even giving them the sense of how important
they are when in reality I need to CUT THEM OUT OF THE EQUATION TOTALLY.

jmski52

I am just being patient now looking for the right supplier to buy in bulk.

fc, the problem is that the low-price dealer one day is not the low-price dealer a week later. There is something to say about being in the right place at the right time.

There is also something to say about working up a good, longterm relationship with a dealer who appreciates a good, longterm relationship with a known customer.

fc

<< <i>I am just being patient now looking for the right supplier to buy in bulk.

fc, the problem is that the low-price dealer one day is not the low-price dealer a week later. There is something to say about being in the right place at the right time.

There is also something to say about working up a good, longterm relationship with a dealer who appreciates a good, longterm relationship with a known customer. >>



i do not know how it is for you in your area but 5 out of 6 dealers in my area are
probably the worst place to buy bullion. Only one keeps his spread within reason
and sadly he cannot keep the stuff in stock. Walks in one day, sold the same.

He knows who i am but his way of doing things is first come first serve.

clouisejewelers

You guys still aren't understanding the disconnect between the fraudulent paper market and the real physical market.

cinman14

I understand this. I just called my local B@M and they are selling ASE's for 19.00 each

I asked the buy price thinking I might unload a few at that price... Buy--14.25 Sell--19.00

Explain that to me. They have always had a 1 dollar spread between Buy and Sell... 4 bucks now

tincup

When the product is much in demand..... and it is getting harder to replace, they can ask for that spread and probably get it.

mkman123

RAh, you should have me get you two 100 oz bars.

My area there are two of them. Noone has picked them up. 14.60 an oz so 1460. Not bad huh? Too bad I don't have that much money.

Greeniejr

<< <i>Visited 2 B&Ms today looking for some 5, 10 or 100 oz SIlver bars.

One had none...nada......which did not surprise me since I called him on Friday and he had none....was hoping some would walk in the door?

He did have a mixed date roll of ASEs for $320....I passed...



Second guy had no bars......and just 4 common ASE dates....but said he had an order of ASE due any moment...I asked price.....$4.00 over spot...wow....even if I bought by the roll......wow!


Came home...called 3 jewelers I have bought bars from in the past....they had none...

That is my report.

If silver goes up as I expect the ASE roll above at $16 each would not be bad..however....I just cannot pay a $2.50-$3.00 Premium per coin..the other fellow $4.00 was out of question for me.

RAH1959


edited to correct spelling in title >>



Ya he is really trying to make a killing on you on those silver eagles. 320 per roll is 16 per coin. Spot is 13.50ish MTB charges 2.10 over spot, how dare the dealer try and make 8 dollars on a 320 dollar deal. By the way, the sell on non-08 date rolls is even higher than 2.10

rah1959

<< <i>RAh, you should have me get you two 100 oz bars.

My area there are two of them. Noone has picked them up. 14.60 an oz so 1460. Not bad huh? Too bad I don't have that much money. >>




If I were in your area I would get them in a heart beat....but just too much risk involved for me in Virginia...buying them in CA and having them shipped cross county.

If those two 100 ouncers where here...I would ahve done what was needed to get the $$$ to buy them at that price....cash and carry.

Oh well.....

RAH1959

moonshine

my local BM pawn shop where I usually shop was literally closed down for the day. Nothing in the cases -- zip - not even a ring.

Bear

High demand + low supply = Significant price increase

WinPitcher

Ya he is really trying to make a killing on you on those silver eagles. 320 per roll is 16 per coin. Spot is 13.50ish MTB charges 2.10 over spot, how dare the dealer try and make 8 dollars on a 320 dollar deal. By the way, the sell on non-08 date rolls is even higher than 2.10



Shhh how dare he? He has no overhead nor does he have to eat.


Steve

mkman123

well for Wed, no small bars available or ASEs available at all at the 3 main stores in my area. There are still 2 100 oz bars but no small ones.

cinman14

<< <i>Ya he is really trying to make a killing on you on those silver eagles. 320 per roll is 16 per coin. Spot is 13.50ish MTB charges 2.10 over spot, how dare the dealer try and make 8 dollars on a 320 dollar deal. By the way, the sell on non-08 date rolls is even higher than 2.10



Shhh how dare he? He has no overhead nor does he have to eat.


Steve >>



320 divided by 20= 16.00 per coin--spot--13.50--That's 2.50 over spot... 2.50 multiply X's 20 = 50.00

You have no idea how much he has in these ASE's. How would you know if he paid 2.10 over spot for them

My local B@M does not pay 2.10 over spot...

Yes his price was the common price charged. But to say he is only making 8 bucks is naive at best

And I bought a roll of 08's from teletrade for 296.00 when spot was at 13.00 My calculations say that is 1.80 over spot..

rah1959

<< <i>

<< <i>Ya he is really trying to make a killing on you on those silver eagles. 320 per roll is 16 per coin. Spot is 13.50ish MTB charges 2.10 over spot, how dare the dealer try and make 8 dollars on a 320 dollar deal. By the way, the sell on non-08 date rolls is even higher than 2.10



Shhh how dare he? He has no overhead nor does he have to eat.


Steve >>



320 divided by 20= 16.00 per coin--spot--13.50--That's 2.50 over spot... 2.50 multiply X's 20 = 50.00

You have no idea how much he has in these ASE's. How would you know if he paid 2.10 over spot for them

My local B@M does not pay 2.10 over spot...

Yes his price was the common price charged. But to say he is only making 8 bucks is naive at best

And I bought a roll of 08's from teletrade for 296.00 when spot was at 13.00 My calculations say that is 1.80 over spot.. >>




I agree with Cinman's math above.....and I never busted the dealer's chops for asking $320 a roll.....I only stated what I found in silver prices when I sought out his inventory....I passed and moved on...

the second dealer I spoke about was asking $4.00 over spot per coin......not offering rolls.....only per coin....$4.00 over spot....again....I didn't bust his chops.....in his shop nor here...just reported on what I found.

I also stated that if silver runs up as some predict...even the $16.00 per ASE may seem to be a good price.....it is all a gamble.

If the B&Ms are not making enough on real collector coins....classics.....moderns...supplies....whatever.....to pay the bills...then perhaps they should not delve into the world of speculative PMs..that have such little profit....and can be at a loss in a blink of an eye.

We have one Coin shop here..that does just that...sells no bullion PM.....only slabbed Classis....and has a durn good business and profit margin...he told me he'd rather spend his effort on coins with decent profit margins...then with PMs (ASE AGE) with little or no profits.

Cool thing about all of this is...we are all free to walk away from any buy-ask prices....

RAH

edited for spelling (damn these old fingers )

CaptHenway

MTB raised their sell on 2008 silver eagles in monster boxes to spot plus $2.40 today.
TD

Joflax

Why dont you buy SLV in your brokerage account and then you can lock in these prices for whenever the 100 oz bars become available again .
They will become available again , that is a guarantee ...
Dealers are sitting on them waiting for some sense of where the trend is going(thats a dealers mentality)...
Investors are sitting on them waiting for better days (thats an investors mentality)

WinPitcher

Yes his price was the common price charged. But to say he is only making 8 bucks is naive at best





Too bad I didn't say it.


Steve

morgansforever

Tired of searching B&Ms and Ebay for silver.

Pulled the trigger this morning for 3 10 oz. bars from APMEX.

$483.35 delivered, never had a bad experience ordering though them.

Scott