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What are your local B&M rates? ..Chime in...
seebelow
Posts: 1,643 ✭✭✭
Hi guys,
I've just been adding and adding. And mostly from online sellers.
I called a local coin gold and silver store inquiring about buying and selling.
For a 1 oz AGE they're selling at 4-5% over spot.
...theyre buying at 1-2% below spot.
I see APMEX for ex. is buying at about 2% above spot for an AGE.
Thats the first brick and mortar that I called. So i was wondering whats the "usual" rate that you guys are getting for selling yours. The best route?
Thanks.
I've just been adding and adding. And mostly from online sellers.
I called a local coin gold and silver store inquiring about buying and selling.
For a 1 oz AGE they're selling at 4-5% over spot.
...theyre buying at 1-2% below spot.
I see APMEX for ex. is buying at about 2% above spot for an AGE.
Thats the first brick and mortar that I called. So i was wondering whats the "usual" rate that you guys are getting for selling yours. The best route?
Thanks.
Interested in higher grade vintage cards. Aren't we all. 
0
Comments
The next guy is buying at spot +.5% and selling at spot +7%
HERE
bob
yes, the 1% better vig is for preferred customers vs others. I'm not sure which I'll be.
So then where or who are you selling to?
Please keep posting more rates that are out there. Seems mine is off on the buy side. But currently, I'll be buying from there vs online.
thanks
Edited to add: 90% was fetching 12.5 x face.
I was surprised. Not too bad as long as you buy over $1k to avoid the tax.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
Numbers ? Let's see the items. Half ounce $25 gold is sometimes worth more than full ounce $50 gold. There really are a lot of variables to consider in the game.
And the bottom line isn't a percentage to me. It's a matter of acquisition. Cash isn't king. Gold is. Paper is nothing compared to gold in hand. You have the negotiating power. Keep it. That's me thinking outside the B&M box and considering your bottom line.
<< <i>That's normal for around my neck of the woods. Both places in my town are thieves... Not worth my time or my business. >>
Lol, nonsense.... Where do you buy all your food, necessities, gas, you ever go out to eat? Ever buy anyone a present, ever buy anything at any store, have a cell phone, pay for anything at all???
Your are paying huge premiums for everything you buy, in fact 99.9% of what you buy or more is significantly more than any spread your "thiefs" are at?.... In fact obscene multiples, and you do it willingly while bending over every day with a big smile on your face...
<< <i>
<< <i>That's normal for around my neck of the woods. Both places in my town are thieves... Not worth my time or my business. >>
Lol, nonsense.... Where do you buy all your food, necessities, gas, you ever go out to eat? Ever buy anyone a present, ever buy anything at any store, have a cell phone, pay for anything at all???
Your are paying huge premiums for everything you buy, in fact 99.9% of what you buy or more is significantly more than any spread your "thiefs" are at?.... In fact obscene multiples, and you do it willingly while bending over every day with a big smile on your face... >>
What he said.
As for bullion,
SE $2.70 over spot on 200 oz.
Oz $1.10 over spot on 200 oz
GE $52 over spot ea
KR &42 over spot ea
90% $2 over per $ face
Got quoins?
<< <i>
As for bullion,
SE $2.70 over spot on 200 oz.
>>
Where?
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>
<< <i>That's normal for around my neck of the woods. Both places in my town are thieves... Not worth my time or my business. >>
Lol, nonsense.... Where do you buy all your food, necessities, gas, you ever go out to eat? Ever buy anyone a present, ever buy anything at any store, have a cell phone, pay for anything at all???
Your are paying huge premiums for everything you buy, in fact 99.9% of what you buy or more is significantly more than any spread your "thiefs" are at?.... In fact obscene multiples, and you do it willingly while bending over every day with a big smile on your face... >>
ummmm... You do not understand. If I can buy something all day long for $30 each, and I go to the local store and they have it for $48... That's a thief in my book. And if that item happens to be food, necessities, gas, out to eat a present or anything at a store a cell phone or ANY THING AT ALL... then I would not buy from them because they are thieves...
From what you are saying, you walk into the first store and buy whatever you need regardless of the cost... that's not how I run my life. I'm a bit frugal and look for the best price, I try to buy things out of need, I think ahead and buy when things are on sale or at the best price that I can find.
That said, these two B&M's always have their prices WAY above the going rate. I do not want to get into the business of how long they have held the assets or what they paid for it compared to what they "Need" to sell it for yada, yada. The point is, I can buy it for $30 through other venues so I will pay $30 and let them keep their $48 silver.
No response needed.
B&M gold rates are likewise all over the map. But, there are always some dealers who are willing to move out excess gold inventory for pretty close to wholesale levels. But a 5-6% spread was pretty typical during the "glory" years of 2009-2011. Still, there was always someone who was willing to work at a 2-3% markup.
<< <i>That's normal for around my neck of the woods. Both places in my town are thieves... Not worth my time or my business. >>
Same here. Really just two shops buying in my small community and they're looking for sheep to shear.
Suppose silver goes to $100. You think your local B&M will have the money to buy your monster box?
Knowledge is the enemy of fear
at spot if fresh, if not spot-1.oo
sell at spot +2.00
I buy gold eagles at spot -2%
sell at spot plus 10.00 bucks. (if more than a couple I ship em for spot plus 25.00
(never have any though)
there are two other dealers here"
1st buys silver eagles at spot-3 bucks sell at spot plus 10 bucks(he always has a pile of them)
doesn't buy gold has no capital
2nd buys silver eagles at spot, sells at spot +5 bucks (always has a quantity)
gold eagles spot - 10%
there are several gold buying shops around here and they buy silver eagles at 10-12 bucks gold eagles at 100-200+ back of spot (they do not sell publicly)
<< <i>I buy silver eagles
at spot if fresh, if not spot-1.oo
sell at spot +2.00
I buy gold eagles at spot -2%
sell at spot plus 10.00 bucks. (if more than a couple I ship em for spot plus 25.00
(never have any though)
there are two other dealers here"
1st buys silver eagles at spot-3 bucks sell at spot plus 10 bucks(he always has a pile of them)
doesn't buy gold has no capital
2nd buys silver eagles at spot, sells at spot +5 bucks (always has a quantity)
gold eagles spot - 10%
there are several gold buying shops around here and they buy silver eagles at 10-12 bucks gold eagles at 100-200+ back of spot (they do not sell publicly) >>
Who in their right mind would sell to some of those people? Just curious but where or from whom do those local people [not the businesses] buy their silver eagles from? Do they buy from the JMBullions, Providents, etc. and resell at a loss to the local rip places?
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>
<< <i>
<< <i>That's normal for around my neck of the woods. Both places in my town are thieves... Not worth my time or my business. >>
Lol, nonsense.... Where do you buy all your food, necessities, gas, you ever go out to eat? Ever buy anyone a present, ever buy anything at any store, have a cell phone, pay for anything at all???
Your are paying huge premiums for everything you buy, in fact 99.9% of what you buy or more is significantly more than any spread your "thiefs" are at?.... In fact obscene multiples, and you do it willingly while bending over every day with a big smile on your face... >>
ummmm... You do not understand. If I can buy something all day long for $30 each, and I go to the local store and they have it for $48... That's a thief in my book. And if that item happens to be food, necessities, gas, out to eat a present or anything at a store a cell phone or ANY THING AT ALL... then I would not buy from them because they are thieves...
From what you are saying, you walk into the first store and buy whatever you need regardless of the cost... that's not how I run my life. I'm a bit frugal and look for the best price, I try to buy things out of need, I think ahead and buy when things are on sale or at the best price that I can find.
That said, these two B&M's always have their prices WAY above the going rate. I do not want to get into the business of how long they have held the assets or what they paid for it compared to what they "Need" to sell it for yada, yada. The point is, I can buy it for $30 through other venues so I will pay $30 and let them keep their $48 silver.
No response needed. >>
Bottom line is all SAE's are the same so you might as well do some price comparisons and buy from the cheapest source. Makes sense to me.
Worry is the interest you pay on a debt you may not owe.
He agreed and I will be meeting him this week.
He wants silver too. I really wasn't looking to sell silver but told him I would bring some anyway. He said spot. I said No!
We agreed once again to go by APMEX current buy price when we meet.
Unless you are in desperate need to sell any PM's -- you have the leverage. At least in my neck of the woods.
I don't live in a big or even medium size city. Matter of fact, the place I am going to be selling is about as small as they come way up in the woods.
<< <i>I arrange before hand to agree to the same price that APMEX is buying for.
He agreed and I will be meeting him this week.
He wants silver too. I really wasn't looking to sell silver but told him I would bring some anyway. He said spot. I said No!
We agreed once again to go by APMEX current buy price when we meet.
Unless you are in desperate need to sell any PM's -- you have the leverage. At least in my neck of the woods.
I don't live in a big or even medium size city. Matter of fact, the place I am going to be selling is about as small as they come way up in the woods. >>
Why should you sell for less than an AP will sell them for?
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>
<< <i>
<< <i>
<< <i>That's normal for around my neck of the woods. Both places in my town are thieves... Not worth my time or my business. >>
Lol, nonsense.... Where do you buy all your food, necessities, gas, you ever go out to eat? Ever buy anyone a present, ever buy anything at any store, have a cell phone, pay for anything at all???
Your are paying huge premiums for everything you buy, in fact 99.9% of what you buy or more is significantly more than any spread your "thiefs" are at?.... In fact obscene multiples, and you do it willingly while bending over every day with a big smile on your face... >>
ummmm... You do not understand. If I can buy something all day long for $30 each, and I go to the local store and they have it for $48... That's a thief in my book. And if that item happens to be food, necessities, gas, out to eat a present or anything at a store a cell phone or ANY THING AT ALL... then I would not buy from them because they are thieves...
From what you are saying, you walk into the first store and buy whatever you need regardless of the cost... that's not how I run my life. I'm a bit frugal and look for the best price, I try to buy things out of need, I think ahead and buy when things are on sale or at the best price that I can find.
That said, these two B&M's always have their prices WAY above the going rate. I do not want to get into the business of how long they have held the assets or what they paid for it compared to what they "Need" to sell it for yada, yada. The point is, I can buy it for $30 through other venues so I will pay $30 and let them keep their $48 silver.
No response needed. >>
Bottom line is all SAE's are the same so you might as well do some price comparisons and buy from the cheapest source. Makes sense to me. >>
They might only be the same if you're selling. Show me one legit dealer who is selling 1995 ASEs for the same price as 2015s? JMBullion is asking over $40 per coin.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>
They might only be the same if you're selling. Show me one legit dealer who is selling 1995 ASEs for the same price as 2015s? JMBullion is asking over $40 per coin. >>
Just because they are for sale at $40 doesn't mean they are "selling"
Buying an ASE for $40 when silver is $38 is just poor timing.
Buying an ASE for $40 now when silver is $17 is more than poor timing its willful stupidity
If someone is looking for 500 or more then the price comes down, cause they pay up front and my risk has been lowered.
I pay normally 20-30 cents over spot for it coming over the counter, unless I'm heavy on stock. Then I pay spot.
I find it hard to believe someone would pay $10 over spot for ASEs.
Nck
<< <i>Buying an ASE for $40 now when silver is $17 is more than poor timing its willful stupidity >>
There are definitely reasonable prices out there.... I laugh at the locals who are incredibly overpriced ... they say 'Laugh now, but you will think it is cheap in a couple of months.'....and I laugh even harder....Cheers, RickO
Usually once per day, after my second coffee. Maybe another in the afternoon if we had Thai food or something.
Liberty: Parent of Science & Industry
<< <i>
<< <i>
They might only be the same if you're selling. Show me one legit dealer who is selling 1995 ASEs for the same price as 2015s? JMBullion is asking over $40 per coin. >>
Just because they are for sale at $40 doesn't mean they are "selling"
Buying an ASE for $40 when silver is $38 is just poor timing.
Buying an ASE for $40 now when silver is $17 is more than poor timing its willful stupidity
Of course, but they have lots of earlier dates and I don't see any of them being sold for the same price as new issues. I expect that they paid a little more for them. Show me someone selling new 1995 ASEs for the same price as 2015s. IMO, some people selling earlier dates have coins that have been picked over or are junk culls, scrapers. The point is that most dealers will treat them the same when buying, but not when selling. I didn't say that JM had the best pricing or was a good deal, only that they aren't selling earlier dates for the same price as new dates.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>I sell regular silver at $1.35 over spot, ASEs for $3.50.
If someone is looking for 500 or more then the price comes down, cause they pay up front and my risk has been lowered.
I pay normally 20-30 cents over spot for it coming over the counter, unless I'm heavy on stock. Then I pay spot.
I find it hard to believe someone would pay $10 over spot for ASEs.
Nck >>
Just curious, but how often [if at all] do you order from a supplier which I assume would be an AP?
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>
Why should you sell for less than an AP will sell them for? >>
Forgive me for my ignorance but what the hell is an AP?
<< <i>
<< <i>
Why should you sell for less than an AP will sell them for? >>
Forgive me for my ignorance but what the hell is an AP? >>
An AP is an Authorized Purchaser [like a distributor] of mint products. They are the only ones who can buy common silver eagles from the Mint. Their cost is $2 over spot per coin.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>
<< <i>
Why should you sell for less than an AP will sell them for? >>
Forgive me for my ignorance but what the hell is an AP? >>
AP stands for Armor Piercing
<< <i>I order as often as I Need to. Sometimes it is multi times a week or it may strecth out to a month or so. If someone brings in 500-600 rounds I buy over the counter then theres no need to order. I just try to keep stock on hand. You can't sell it if you don't have it. >>
So why is it that a dealer doesn't seem to mind paying an AP $2+ over spot, but he won't do the same for a guy selling new coins OTC?
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>
<< <i>I order as often as I Need to. Sometimes it is multi times a week or it may strecth out to a month or so. If someone brings in 500-600 rounds I buy over the counter then theres no need to order. I just try to keep stock on hand. You can't sell it if you don't have it. >>
So why is it that a dealer doesn't seem to mind paying an AP $2+ over spot, but he won't do the same for a guy selling new coins OTC? >>
Because he only respects the process in one direction. If he is forced to pay 2$ he will because the mint has pricing power in that instance. That 2$ fee is for creating a Silver Eagle . No one else has a legitimate claim on the 2$ premium because they have done nothing to earn it.
No one in their right mind should be selling to dealers if they have the ability to sell it themselves.
<< <i>So why is it that a dealer doesn't seem to mind paying an AP $2+ over spot, but he won't do the same for a guy selling new coins OTC? >>
Plenty of reasons. Takes some time to go through the coins from a random seller to make sure they are legit. Often it's in small quantities vs a large wholesale buy from an AP. Guy will always want cash in hand, so there is some transaction risk, etc.
for a piece of Jewelry, but a Coin Shop guy is a crook if he tries to make 10%
on an ounce of Silver or gold.. Weird !!!
LM-ANA3242-CSNS308-MSNS226-ICTA
<< <i>
No one in their right mind should be selling to dealers if they have the ability to sell it themselves. >>
A effen men to that.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
If a person comes in and sells me say 500 rounds and I have 1500 in the back, and I call the AP, he's not paying me spot. He's paying me under spot. He has to make a living as well, and when you have to set
on silver for a week your taking a hugh risk. If I have to pay the AP say $1-$2 over spot when I order, then I'm willing to split that premium with a seller when they sell to me OTC. I see that as a win win.
If on the other hand I'm heavy on stock and low on capital, I'm going to need to sell that back to the AP as well as the shipping cost, so I can't pay spot plus a little. Another thing I may do is contact other
dealers in town and check to see if they could use some at spot or a few cents over.
Nick
<< <i>
An AP is an Authorized Purchaser [like a distributor] of mint products. They are the only ones who can buy common silver eagles from the Mint. Their cost is $2 over spot per coin. >>
OK. I thought that might have been what that meant.
He is not an AP (as far as I know). Small time collectibles dealer and coins and bullion are not his bread and butter. However he is very liquid and very discreet.
Why would I sell to him at the same price that APMEX is buying for?
I don't have to ship a large amount of bullion to Oklahoma
I don't have to pay that postage for shipping
I have a check written out for me right then and there (or cash if I choose) or a combination of both if over $10k
Essentially -- convenience.
If I sold it right now at what APMEX is paying I could actually make a few dollars. As far as me selling it on my own through eBay or something -- not going to happen. I am not a dealer and I don't need the hassle. I had some cash that I wanted to park somewhere for just a little while and I chose to park the majority of it in Gold and some Silver. I figured the price was going to rise soon enough and it has.
<< <i>I never could understand how people can pay a Jeweler a 600% profit
for a piece of Jewelry, but a Coin Shop guy is a crook if he tries to make 10%
on an ounce of Silver or gold.. Weird !!! >>
For one, the average person has no idea what a jeweler pays for his stuff and probably doesn't have the buying power to buy right from a wholesaler. I doubt that a jewelry wholesaler would bother with an order for one $20 necklace. Most people usually want just one necklace, not monster boxes of them. I don't know of anyone stacking necklaces.
OTOH silver eagles are common as dirt. Most folks know what they cost and can buy from the same place/places be that one coin or a roll or a green box. Then again many buyers of ASEs re-sell them. Pretty hard to sell at a profit or recover cost when you pay retail.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Different stores work on different margins. I'm assuming no one forces anyone to pay what they pay, or take what they offer, do they? or are they desperate to do the deal there and then?
Liberty: Parent of Science & Industry
<< <i>So why is it that a dealer doesn't seem to mind paying an AP $2+ over spot, but he won't do the same for a guy selling new coins OTC? >>
If a person comes in and sells me say 500 rounds and I have 1500 in the back, and I call the AP, he's not paying me spot. He's paying me under spot. He has to make a living as well, and when you have to set
on silver for a week your taking a hugh risk. If I have to pay the AP say $1-$2 over spot when I order, then I'm willing to split that premium with a seller when they sell to me OTC. I see that as a win win.
If on the other hand I'm heavy on stock and low on capital, I'm going to need to sell that back to the AP as well as the shipping cost, so I can't pay spot plus a little. Another thing I may do is contact other
dealers in town and check to see if they could use some at spot or a few cents over.
Nick >>
Let me ask you this since I've never dealt with an AP. How often do they quote a price that is less than $2 over spot? I was assuming that the lion's share of their inventory came from the Mint and not from repurchase. Perhaps I am way off base on this point. also as far as purchasing from walkins, I wouldn't expect a dealer to be able to buy every deal that walks in the door, but if you were planning to buy it anyway I see no reason why [under the right circumstances] you couldn't offer the same price that your supplier would sell to you for whether it be spot or some number over spot. At least be honest and upfront and say "I can buy from ABC at $1 over so that's all I can offer you. Costs you the same either way.
I know it's a free market and anyone can buy or sell for what they damn well please.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
So then who should I take my handful (7-9) of 1 oz. AGE's to?
<< <i>So who are you selling to? I hear the arguments that some won't sell to the local B&M or the big online AP's. d/t low rates, inconvenience, mail etc.
So then who should I take my handful (7-9) of 1 oz. AGE's to? >>
APMEX is selling random year coins for $1244 [buy 20 or more] which is $52 over. You could list them here [for free] at comparable prices. Or you could sell them to APMEX @ $25 over which is $1215. Depending on how you insure them, it will cost you $20 to $40 to ship to APMEX. Will cost you around $20 to ship one coin by registered if a forum member here buys one. Or you can take it up the gold chute and sell to your local dealer.
PS: It never hurts to try here first.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Perfect example: A few months ago when I relocated, lady call me up and wants 450 roll for her 2 rolls of silver eagles, I offered 400, she said she would wait for the price to go up, she called back 2 days later and it had gone up 14c I believe, so I basically said the same price 400 max. She told me shed wait. apparently , the next day she just just got in a bind and drove them over, problem is she went to the old location which is a gold buying shop now , they offer her 300 a roll and she takes it. I found this out because it had actually gone up enough where I could get her closer to what she wanted , and that's when she told me she took the 300 a roll from the other place. (my old location)
Wondering as I didnt buy or sell at the time, but was it easy to sell here in April 2011?
Knowledge is the enemy of fear
<< <i>PS: It never hurts to try here first
Wondering as I didnt buy or sell at the time, but was it easy to sell here in April 2011? >>
I don't recall as I don't think I was dabbing in PMs at the time and esp. gold at $1800+. Of course it depends upon one's asking price. If you want to reach the APMEX type buyer at APMEX sell prices, you probably won't sell much here. The better your pricing, the more likely you are to sell. Not much point in trying to compete with the bullion houses.
FWIW, IMO it's not easy to sell silver here right now either.
Regardless of the spot price, unless one has to sell ASAP it doesn't hurt to try here first. There is no cost and there are some very trustworthy folks and some no so trustworthy folk.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>When people need to sell they pretty much don't care what they get, who ever they can get to first and fastest regardless of price, they sell it:
Perfect example: A few months ago when I relocated, lady call me up and wants 450 roll for her 2 rolls of silver eagles, I offered 400, she said she would wait for the price to go up, she called back 2 days later and it had gone up 14c I believe, so I basically said the same price 400 max. She told me shed wait. apparently , the next day she just just got in a bind and drove them over, problem is she went to the old location which is a gold buying shop now , they offer her 300 a roll and she takes it. I found this out because it had actually gone up enough where I could get her closer to what she wanted , and that's when she told me she took the 300 a roll from the other place. (my old location) >>
Sad, but true.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876