I think this was a good deal?

coirn · April 28, 2011 8:30AM

I visited a coin shop I rarely go too and looked through some of their large coin binders. I ended up pulling out a bunch of proof silver dimes and silver proof and uncirculated quarters. You could tell the prices on these had been typed up probably years ago.
They were priced at $2. for the dimes and between $7. and $7.50 for the quarters. These are all gem coins! The silver 40% Ikes were $6. each and misc. type coins like an 1858-O seated half dollar was $14.50. My ATM would only let me pull out $500. so I couldn't purchase everything I wanted to!
It struck me as a decent deal for UNC and PROOF silver so I bought up as much as I could. It wasn't until I got home and calculated it I think I did ok, unless I'm missing something?
Photos to follow...

coirn · April 28, 2011 8:42AM

The silver Ikes were $6. each. The misc. type coins were discounted 20% at the register.

Some of the Dimes:

Most of the Quarters:

derryb · April 28, 2011 8:44AM

since you posted on the PM forum; how much silver you got there and what did you pay per oz.?

mkman123 · April 28, 2011 8:45AM

you might want to bring more money and go back today or tomorrow and clean them out!

Meltdown · April 28, 2011 8:49AM

You did great! It's a rare shop that doesn't track their prices close enough to still find items less than melt.

derryb · April 28, 2011 8:52AM

Need a partner? just kidding. buy him out but don't give yourself away when you go back or he might raise prices.

Wish I could find a coin shop with no internet, tv, radio or newspaper within miles.

coirn · April 28, 2011 9:03AM

I usually don't make it this far down the coast but will make the drive again early next week. I'll have cash on hand.

DrBuster · April 28, 2011 9:21AM

<< I usually don't make it this far down the coast but will make the drive again early next week. I'll have cash on hand. >>

Next week??? You might miss it, I'd be there next day with as much as I could throw at it.

derryb · April 28, 2011 9:54AM

Just hope he doesn't read the forum.

OzzyAndy · April 28, 2011 10:08AM

Good deal.
I myself have spent about $1500 in the last couple of weeks cherry picking a dealer on a local internet auction site, it appears to have very little traffic and the dealer either doesn't follow the silver market or just doesn't bother updating his prices (He's just happy that he's selling so much). Some are also poorly listed/photographed and require a fair bit of research to work out what you're getting.

e.g: 24 World Crown Sized Coins

After about 20 mins of looking up, got this for about 85% of spot (helped that the market was rising).

And this one i bought for an amazing 50% of spot price!!!

It takes time but there are still some real bargins to be had. I've received 2 out of my 3 lots so far and the coins are excellent (checked the weight on them all), postage is at cost and while seller can be stubborn (absolutely no negotiating on anything), no issues at all. There are bargins to be had.

scotty1419 · April 28, 2011 11:42AM

Too bad that you can read the coin shop location. I'm forecasting banner business for this B&M tomorrow

coirn · April 28, 2011 12:39PM

<< Too bad that you can read the coin shop location. I'm forecasting banner business for this B&M tomorrow

>>

Please have at it. There's enough there to share.

hammered54 · April 29, 2011 12:42AM

http://local.yahoo.com/info-20798412-carlsbad-village-coins-carlsbad?tab=reviews
Google is your friend.

Teknowaffle · April 29, 2011 3:41AM

<< Good deal.
I myself have spent about $1500 in the last couple of weeks cherry picking a dealer on a local internet auction site, it appears to have very little traffic and the dealer either doesn't follow the silver market or just doesn't bother updating his prices (He's just happy that he's selling so much). Some are also poorly listed/photographed and require a fair bit of research to work out what you're getting.

e.g: 24 World Crown Sized Coins

After about 20 mins of looking up, got this for about 85% of spot (helped that the market was rising).

And this one i bought for an amazing 50% of spot price!!!

It takes time but there are still some real bargins to be had. I've received 2 out of my 3 lots so far and the coins are excellent (checked the weight on them all), postage is at cost and while seller can be stubborn (absolutely no negotiating on anything), no issues at all. There are bargins to be had. >>

Here is a good deal. Shame he doesn't ship outside of Aus:
http://www.quicksales.com.au/vshops/item.aspx?itemid=5829837&shopid=6917

25 grams .999 silver for 20 bucks.

RGJohn · April 29, 2011 5:35AM

<< You did great! It's a rare shop that doesn't track their prices close enough to still find items less than melt. >>

I agree that the OP did well. What I question is the 'less than melt ' part.

I have often sold at 'less than melt ' .
I have current offerings here to sell at melt or less.
I have today made legitimate offers to buy at less than melt. With no insult intended.
Spot ain't Gospel, it's spot and spot is at least partly, squat.

-----
It is IMPOSSIBLE to accurately and precisely track every pulsation of the market. Even more so to predict them. WHat will you accept for your ...(fill in the blank...), BE HAPPY with what you got and keep going 'cause life ain't forever.

RedHerring · April 29, 2011 5:55AM

<< I agree that the OP did well. What I question is the 'less than melt ' part >>

I do too. Not knowing if there's any better dates in there, it looks like a good deal. Common quarters at 30X face is a fair price. The dimes at 20X is clearly a gimme.

There's many who think Ag will fall back under $40 this summer. 30X is the most I'd pay for common BU and proof 90% and there has been some availability at that price even this week but you need to ferret it out.

Good job to the OP by the way!

Bear · April 29, 2011 6:25AM

You are not following the recommended Forum Formula for coin buying.

You are supposed to buy coins at twice their actual worth, hold them

for at least 5 years and then sell them for 50% of their value. Do this several

times and you will be able to hold your head up proudly as a true coin collector.

Remember, never buy the holder nor the coin, just buy any old Cr*p as long as it is

over graded and overpriced and you too can be one of us.

OzzyAndy · April 29, 2011 8:41AM

RGJohn: Yes, I agree that less than melt is quite normal for many coins however I feel that most of the coins I bought can be sold for more than melt (especially in Australia). But then again I've seen stuff on the BST at less than melt that would sell on ebay oz for 20-30% more than melt (I've done it myself), I guess that's ebay for you.

Teknowaffle, I saw that medal but remember thinking to myself that I don't know anything about medals and couldn't find out its silver content, I didn't even think of looking on the packaging in the pic! Would have grabbed it if I'd realised but don't want to now buy one coin individually, might wait till silvers up 5 more dollars then there will be more to be had

I think this was a good deal?

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