Silver pricing question

ajaan

I'm going to go to a monthly club coin show this Sunday and I'm thinking of buying some silver, just 5-10 ounces. I go to this show every month and see quite a few dealers with silver in their cases and I'm wondering what should I expect to pay, in relation to spot, for:

ASE/Maple Leaf
generic silver bar/round

I know I can buy through the mail but then I'll have to factor in shipping costs. I prefer to buy locally but only if the pricing is competitive. TIA.

piecesofme

$3 over is pretty standard for ASE/Maple Leafs and you shouldn't pay more than .50 over for generic stuff. You might even get them at Spot doing local business not having to factor in shipping as you say.

Of course, everything is dependent on what the dealer can get. If he can consistently get $5 over for a ASE, he probably wont budge unless you buy in bigtime volume. jmho

SmallTownCoins

In the real World, plan on paying $3 over for Maples, $5 over for Silver Eagles and $2 over for Generic's..
Realize that when a Dealer buys 500 oz lots from the big guys, he is paying $2 over for Maples, $2.5/$3 over for SE
and .80/$1 over for common Buffalo rounds,
He then has to make a small profit selling them one coin at a time...
(or at least he should be able to)....

bronco2078

Cash payment usually means no sales tax , which has to be worth at least 1$ an ounce . Shipping is probably 1$ an ounce and the opportunity to hand select your silver is worth something too.


I find when buying ASE's its still possible to pick any year other than a 1996 for the same price. I'd always pick a 94 or 95 or other low mintage year which can't hurt if they are going to continue to make 30 million a year now . I don't know what years of the maple leafs are better but there must be a potential angle to work with those. Maybe you can find one with some stupid privy mark that a seller overlooks.

Another thing is to buy the ugly colorized eagles at spot and strip it off with acetone for an upgrade.

OPA

<< <i>In the real World, plan on paying $3 over for Maples, $5 over for Silver Eagles and $2 over for Generic's..
Realize that when a Dealer buys 500 oz lots from the big guys, he is paying $2 over for Maples, $2.5/$3 over for SE
and .80/$1 over for common Buffalo rounds,
He then has to make a small profit selling them one coin at a time...
(or at least he should be able to).... >>



The above summary is a more realistic quote for small purchases like yours, however, if you can get them for less, more power to you.

Steve27

I attend a local show twice a month where I buy silver bullion. SAEs are usually $3 over spot and generic bars are at spot. I suggest you look for bargains (e.g. Engelhard Prospector Rounds at spot, old pour 10 ounce Engelhard bars at spot, or US Mint 5 ounce P-mint ATBs for a few dollars over spot). Whenever I buy bullion or 90%, I try to find something which has numismatic value as well.

Overdate

Silver premiums are going higher.

It might be difficult to buy silver at last month's prices.

Wingsrule

At a show earlier today, 2013 ASEs were going for $37 each. I saw several being sold at that level. Engelhard / JM bars were $35/oz whether you were buying a 1 or 10 oz bar. Even generic stuff was $34.

Agree with Overdate, premiums are going up, at least using today as one data point.

ajaan

Went to the show today. Most dealers had generic silver at $35/oz and Maple Leafs/ASEs at $37 each (2013 ASE at $39 each). Some dealers wouldn't move off their price of $40 each for Eagles. I was able to pick up a couple ASE at $35 each.