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Buying Silver today...what should I pay?

rmpsrpmsrmpsrpms Posts: 1,893 ✭✭✭✭✭
I'm going shopping at B&Ms today for Silver. Not sure what I might find. My preference would be BU 64 half rolls, or Circ Morgans and Peace $. Going to spend $5k. What should I expect to pay for these items?
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Comments

  • aclocoacloco Posts: 952 ✭✭✭
    Buy bullion.

    Why pay above spot price for at least two of the items listed (circ morgan & peace)? Unless, of course, you can buy either of the three you mentioned for spot or less.
    Successful BST transactions with: jp84, WaterSport, Stupid, tychojoe, Swampboy, dragon, Jkramer, savoyspecial, ajaan, tyedye, ProofCollection, Broadstruck x2, TwinTurbo, lordmarcovan, devious, bumanchu, AUandAG, Collectorcoins (2x), staircoins, messydesk, illini420, nolawyer (10x & counting), peaceman, bruggs, agentjim007, ElmerFusterpuck, WinLoseWin, RR, WaterSports, KeyLargRareCoins, LindeDad, Flatwoods, cucamongacoin, grote15, UtahCoin, NewParadigm, smokincoin, sawyerjosh x3
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Buying Silver today...what should I pay?

    As little as possible image Sorry, couldn't resist with the door open.

    Use coininfo.com as a good, current buying guideline.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • MsMorrisineMsMorrisine Posts: 32,994 ✭✭✭✭✭
    Definitely would not do $1 sized 90% if all you want is to stack silver

    You might see what they will do in 90%. I wouldn't buy generic in this market. If silver tanks you may be selling it for less than spot.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • silverman68silverman68 Posts: 542 ✭✭✭


    << <i>I'm going shopping at B&Ms today for Silver. Not sure what I might find. My preference would be BU 64 half rolls, or Circ Morgans and Peace $. Going to spend $5k. What should I expect to pay for these items? >>



    Not trying to be a jerk but if you need to ask this question you may want to search a little and never get into a hurry. Most B&M's will charge way to much. Look online for deals,
    good luck
  • georgiacop50georgiacop50 Posts: 2,909 ✭✭✭✭
    5 oz bars of sunshine at $90= good bet
  • OPAOPA Posts: 17,118 ✭✭✭✭✭

    Not trying to be a jerk but if you need to ask this question you may want to search a little and never get into a hurry. Most B&M's will charge way to much. Look online for deals,
    good luck >>



    That...

    As the saying goes..."A fool and his money are soon parted."
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,271 ✭✭✭✭✭
    The answer never changes….

    "… as little as possible, for as much quantity as you can afford."

    But what is your objective ?
  • DrBusterDrBuster Posts: 5,377 ✭✭✭✭✭
    Buy stuff that makes you smile.....you'll never lose.
  • cohodkcohodk Posts: 19,076 ✭✭✭✭✭
    Whatever you buy get as close to 300 oz as possible.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Cmon Guys....Eight comments and not 1 answer to his question......
    Generic 1 oz rounds should be available at 1.00 over spot
    Silver 1 oz American eagles will be around 3-3.50 over spot
    90% silver melt is right at 12X face value.
    Morgans and Peace Dollars do not sell at melt.

    Anything near the above prices is reasonable. Folks on the boards can do better on Silver Eagles. Now go to the shop/show and make a day of the hunt. You will know right away when you walk in the shop if you see eagles at 6-8 dollars over you are in the wrong shop.

    Happy hunting

    Tom
  • GreeniejrGreeniejr Posts: 1,321 ✭✭✭


    << <i>Cmon Guys....Eight comments and not 1 answer to his question......
    Generic 1 oz rounds should be available at 1.00 over spot
    Silver 1 oz American eagles will be around 3-3.50 over spot
    90% silver melt is right at 12X face value.
    Morgans and Peace Dollars do not sell at melt.

    Anything near the above prices is reasonable. Folks on the boards can do better on Silver Eagles. Now go to the shop/show and make a day of the hunt. You will know right away when you walk in the shop if you see eagles at 6-8 dollars over you are in the wrong shop.

    Happy hunting

    Tom >>


    Cmon Guys....Nine comments and not 1 INFORMED answer to his question......
    In big quantities you might be able to get old holiday rounds and beat up stuff. The major sellers are backed up several weeks even for top tier buyers. For immediate delivery of fresh product will cost you more.
    Silver Eagles are also hit or miss right now due to demand and the mint not producing 2014s. Wholesale is about $2.25-2.45 so if you buy enough, the seller may be willing to make room for 2015s. Also, mixed older rolls may be close to 3.
    The wholesale buy on US90 by several guys is +2 which equates to 13.2X face. If they don't know or are lazy you might get close to 12 but expecting it would be plain uninformed.
    Dollars even culls are huge premiums (hey you can't get everything wrong)
    Wholesale on new 5 or 10 oz bars is about 65 cents over for the big buyers but shipments are delayed 3+ weeks. Hundreds are a little cheaper but also delayed.
    As far as 6-8 over on Eagles, if you are buying one ya you will pay up. Remember the labor of selling 1 piece is pretty much the same as selling 100 or 500. Even at 6-8 over they are losing money selling 1.
  • derrybderryb Posts: 36,778 ✭✭✭✭✭
    BU 64 halves will carry a hefty premium. Best bang for the buck is generic silver bullion. Best investment with silver is American Silver Eagles. I find the best prices for small quantities on ebay.

    "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

  • BAJJERFANBAJJERFAN Posts: 31,076 ✭✭✭✭✭


    << <i>Cmon Guys....Eight comments and not 1 answer to his question......
    Generic 1 oz rounds should be available at 1.00 over spot
    Silver 1 oz American eagles will be around 3-3.50 over spot
    90% silver melt is right at 12X face value.
    Morgans and Peace Dollars do not sell at melt.

    Anything near the above prices is reasonable. Folks on the boards can do better on Silver Eagles. Now go to the shop/show and make a day of the hunt. You will know right away when you walk in the shop if you see eagles at 6-8 dollars over you are in the wrong shop.

    Happy hunting

    Tom >>



    Right now you can get 2014 ASEs for $2.59 over from Pinehurst [1 roll minimum] with free shipping. $18.91 ea = $378.20 a roll so $5000 will buy you 13 rolls. Agree with Greeniejr that $6-$8 over may be a loss for a B&M depending upon the purchase price. Hardly worth the effort to sell at $1 over cost unless you can sell 500 a day.
    theknowitalltroll;
  • DrBusterDrBuster Posts: 5,377 ✭✭✭✭✭
    Libertads at a couple bucks over were a good deal to me online. Haven't been to my local guy this year at all, so no clue on lcs prices around my way on the 90%.
  • jmski52jmski52 Posts: 22,808 ✭✭✭✭✭
    I'd like to know what he found.

    I would guess that the local B&M is always going to be more expensive, except when he might be stocked up and need to generate some cash. There's a value in being able to walk out with what you want right on the spot, no waiting, no insurance costs and no S&H.

    Nevertheless, if you can spare the time and have confidence in the dealer there's a better chance of getting what you want from a major dealer, both in terms of the product and in terms of price.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Wow what a strange thread. Most customers pay what the dealer is asking, or close to it, or go home. If you are a good customer and/or want to buy in bulk, maybe try and bargain a bit lower.

    A person can check some of the mail order dealers, but most local stores will not price match, if it is not in their ballpark. A person can try another local dealer or a show. However, as outlined, a person going down to one local store has limited choices.

    Local prices can be all over the map. No one knows if the particular store being visited has competitive prices, or high prices, or really high prices. If prices at the store are high, the main option is to go home empty handed. If the original poster was a good steady customer, they probably wouldn't be asking the question, they'd already know what the local dealer is charging, or at least have a good ballpark idea in mind.




  • << <i>Buy stuff that makes you smile.....you'll never lose. >>



    Should I pay $56.61 per Oz? It will make me smile!
    I haven't pulled the trigger because I will probably never get what I paid for it (if I buy it)


    Alex
  • DrBusterDrBuster Posts: 5,377 ✭✭✭✭✭


    << <i>

    << <i>Buy stuff that makes you smile.....you'll never lose. >>



    Should I pay $56.61 per Oz? It will make me smile!
    I haven't pulled the trigger because I will probably never get what I paid for it (if I buy it) >>



    Ha! Smiles to me are priceless and worth it. If it's not a deal it will detract from that to the point that holds the value. I'll stick by that comment, so yeah spend that $56 or less if you can.


    Sometimes you have to say WTF
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    Generic Morgans do not trade near melt.
    HOWEVER, they have not come down much either.

    When I can get AU-sliders, I do.

    image
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,271 ✭✭✭✭✭
    Picked up 60 silver rounds for $14.75 each.
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