PM report from the Baltimore coin show.

PerryHall

I was at the Baltimore coin show Saturday morning looking for some vintage silver bars. I couldn't find any! Not a single Engelhard, J-M, or other vintage bar. There was some modern bars at a few dealer tables---NTR, Silvertowne, Sunshine Minting, Provident, OPM, APMEX, etc. They were mostly 10 oz and were priced at what you could buy them for at the on-line bullion dealers or a little higher. One dealer had an 800.3 oz bar that would have been fun to try to pick up and carry. He also had a 1 Kilo Heraeus gold bar. I did manage to pick up two new 100 oz bars for $1775 each---one was a RCM bar and the other was a J-M bar. Normally I'm able to buy a few Engelhard and other vintage at this show so I was surprised by the lack of these bars. I'm guessing the vintage bars might have been bought up on Friday or perhaps people are sitting on their silver after the recent rise in silver spot prices.

JohnnyCache

Thanks for that report Perry.

I really enjoy reading the findings of various members who travel to shows or go shopping around at local B&M's and then come back here to keep us abreast of what is going on in the real world market place. Too bad that you didn't find exactly what you set out for but congratulations still on the 100 oz bars you did pick up, they certainly help to add weight to the stack.

Do you typically buy 100's?


Thanks

JC

BAJJERFAN

At a small semi local coin show yesterday, I couldn't sell a single ASE for $20.

PerryHall

<< <i>Thanks for that report Perry.

I really enjoy reading the findings of various members who travel to shows or go shopping around at local B&M's and then come back here to keep us abreast of what is going on in the real world market place. Too bad that you didn't find exactly what you set out for but congratulations still on the 100 oz bars you did pick up, they certainly help to add weight to the stack.

Do you typically buy 100's?


Thanks

JC >>



No. I had some money in the checking account since my wife hasn't been shopping much due to the bad winter weather and I got some money back from a tax refund. Usually I get 10 oz bars with the occasional larger bar.

ricko

<< <i>At a small semi local coin show yesterday, I couldn't sell a single ASE for $20. >>



Wow...surprising.....I know there are a few sources that have silver rounds for less, but ASE's usually go a tad higher...and that is not a bad price. Cheers, RickO

ebaytrader

There is plenty out there. The guy I share a table with at Baltimore managed to scrape up 200+ ounces of better art bars & rounds under melt on Saturday to be resold feepay.

OPA

<< <i>At a small semi local coin show yesterday, I couldn't sell a single ASE for $20. >>



Understandably....not as long as APMEX or MCM is selling them for about $2.50 over spot with free s&h and no additional cost for using a cc.

BAJJERFAN

<< <i>

<< <i>At a small semi local coin show yesterday, I couldn't sell a single ASE for $20. >>



Understandably....not as long as APMEX or MCM is selling them for about $2.50 over spot with free s&h and no additional cost for using a cc. >>



I doubt the average person there even knows/knew about it. So who are the ones buying them at their regular non-special low price of $450 a roll or whatever it is? Right now, JMBullion is $412 a roll dlvd for 2015s and $414 a roll dlvd for 2014s. Of course that doesn't mean they are selling truckloads of them.

cohodk

There is plenty out there. The guy I share a table with at Baltimore managed to scrape up 200+ ounces of better art bars & rounds under melt on Saturday to be resold feepay.


Problem is other dealers get the "dealer" rate while the rest of us J6P's get "take it or leave it". Saturday late afternoon can also be better than Saturday morning for negotiating. Why cant some dealers be willing to sell to J6P at under melt? What is the true value of silver when one group can acquire it cheaper than another?

Baley

What is the true value of silver when one group can acquire it cheaper than another?

Arbitrage.

Apparently, for example, if "managed to scrape up 200+ ounces of better art bars & rounds under melt on Saturday to be resold feepay,"

then it's profitable to do so, even after accounting for "FEE"s and "PAY"s and the person's time and effort in moving the stuff around, photographing, packing and mailing, processing the payments, accounting for the transactions and taxes, misc expenses like packing supplies, gasoline, wear and tear on the car, etc etc.

Arbitrage.

Proofmorgan

I was at the show and poking around for the same items.

One table had a few EPM older silver 10 oz bars. Priced at $189, but I passed.

Another had a nice Engelhard 5 oz gold bar, but for $8,000 they can keep it forever. They also had a vintage 100oz silver Engelhard bar, but I didnt waste my time asking the price after I received the priced on that Engelhard Gold. The gold bar was actually displayed on top of the 100oz silver one. Essentially the "not for sale" section with those prices.

I did see a few really old silver bars that looked like deformed cubes in various odd sizes, but I know they go for insane premium so I didn't even ask.

I did see that 800oz silver bar. I think the price seemed reasonable, but that wasn't going on the plane.

Lastly, Gold eagles were going for $60 over and some even wanted $100 over. I'll stick with Provident online.

Hope you guys had fun, I sure did. Only numismatic purchases this time around for me.

piecesofme

Thanks for the report, always good to hear what's going on with pricing in other parts of the country.

TwoSides2aCoin

Here in the B&M, a man came into the shop totally inebriated , yesterday. Purchased from him, a few grams of 14K scrap gold for about $80. Then I said, "So, you want to be a coin dealer ? "
He didn't get the joke. A few of you may. "May" is the key word.

PerryHall

<< <i>One table had a few EPM older silver 10 oz bars. Priced at $189, but I passed. >>



That was at Golden Eagle Coins where I bought the J-M and RCM hundred ouncers. They only had one of each type. I missed the 100 oz Engelhard but would have probably passed if it were priced too much above melt. I saw the EPM bars but they didn't interest me possibly due to their unimaginative design.

OnlyGoldIsMoney

I spent Thursday afternoon at the show.

One dealer from the upper Midwest had just purchased two Engelhard "5 T. OZ" poured silver bars. Otherwise I saw no Engelhard poured items in any cases. Likewise, I saw not a single bit of Engelhard gold or platinum in assay cards. Their absence surprised me.

I picked up two 10 ounce silver poured bars (US Silver Corp and Constitution) for $165 and $185 respectively.