Coin Show PM Purchases

MoneyCollector

Several weeks ago I inquired about PM at coins shows. Went to a show today (6/20/09) and bought some silver - two 10oz. bars and a roll of Morgans. Didn't shop for gold as I only had about $900 with me. It seems to me that if you ask around you can find silver for slightly less than what it costs at Apmex for example. Generic 10ozers could be had for $150; SAE's for $16.50 - $17 plus no shipping cost or other hassles. 90% could be had for 10x face.

I bought a 10oz Engelhard for $155 which I see Apmex asking a $2.69 premium or $169 and I also bought a JM 10oz for $155. These are my first silver bars ever as I usually buy 90% - the JM has "JM" and thier logo on the back and the Engelhard has their name on the back. I also dug through a box of Morgans and took 20 at $13 each which I was happy with. They are near-culls but I got the best and the kids will have fun looking through them before they get put away!

I think I'll save up and get some more next time!

Randy

NumbersUsacom

I have found likewise that purchasing at the local Coin Shop or Gold/Silver trader is the most least expensive and much more rewarding way to go. We are contributing to our local economies, sparking up aquiantences that might never have happend, saving some cash, and getting to view in hand all items of interest prior to purchasing.

Plus I get the benefit of not being thrown out of the store for returning something that was not represented accurately by the seller. Because I get to view it in hand before purchasing. Recently APMEX threw me out because I returned Items that was not as specifically represented. Said I had too many returns, I explained that if you sent what you state you will send there would be no returns. Thats really simple to me. So the message is: we can apMess with you but don't you even try to mess with us.

roadrunner

SAE's for $16.50 - $17 plus no shipping cost or other hassles. 90% could be had for 10x face.

Transactions for silver obviously vary widely by region. There's no way you could buy 90% silver at 10X face in my region considering that refiners/PM brokers are paying over melt (>10.2X face). My primary local shop is very busy with silver and won't sell it at less than 11X face. Last time I was in there silver was down in price and they wanted 11.5X face. They are constantly in shortage and have customers more than willing to buy whatever they get, bars included. ASE's typically sell for $18-19 each. The other local shops don't get much in because they don't pay squat.

If anyone around here offered 90% silver coin at 10X face I'd take it in a heartbeat. With silver now down around 10-12% the past few weeks, there are few sellers bringing silver to the shops.

roadrunner