If you are buying 1oz GAE, what are YOU paying?
Bochiman
Posts: 25,381 ✭✭✭✭✭
I'm looking to get a few, but see prices all over the board.
I know there is the premium on them (I see on Apmex the price they sell them for, so that gives a ballpark). I see prices on ebay, with the additional markups due to fees (but, hey, sometimes you can get the ebucks back on them to make them more palatable).
So, just wondering if anyone is currently buying (to stack, not to immediately flip), what you are able to actually get them for?
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
0
Comments
The APs pay spot + 3% from the mint. The one AP I know of that advertises prices [other than APMEX] sells 1 ouncers for 3.5% over spot or about $45 over with spot at $1285. To make it worthwhile you need to buy 20 ounces to get free shipping. Maybe you could get smoe friends together for a group buy.
look for MS69s on ebay with ebay bucks. With bonus bucks, usually close to spot and sometimes below. I have purchased MS70 gold buffs on ebay below spot with bonus bucks applied. If you get bonus bucks regularly, build your cash and wait.
Such deals are hard to find but they do surface.
"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
This may help-
http://www.comparegoldandsilverprices.com/
I believe that everyone on that list buys from an AP so you pay extra markup. If you can put together a large enough order, you can probably buy from the same place they do. Or just put an ad up looking to buy at spot or spot + X%.
I don't talk with people in real life about my purchases...especially with bullion. Seldom with coins.
So, not a large purchase.
I also prefer using a CC, unless I am purchasing at a show or a B&M. It adds to the cost, I know, but when, as derryb mentions, one can add in ebay bucks and any CC cashback, it can be reasonable.
I just picked up one on ebay a few minutes ago with a seller who used the US Coin (non-bullion) category, so I got the $100 ebay bucks and they were lower than others, but still seem legit (though, they use UPS ground to ship???).
Deduct my CC cashback and the price was about the same as apmex wire/check (a couple $$ less).
So, I will see how it goes. I do appreciate Precious Metal sellers when, when using ebay, they avoid the bullion category
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Good deal Ron.... pays to research. Cheers, RickO
So with $100 in eBay bucks and about $25 in CC reward points it was still a wash vs APMEX?
Basically
$1370 -27.4-100
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Since spot was around $1285 or so, it looks like you did well and got the coin for a bit better than 3% under.
And, of course, they drop it $20 the morning after the ebay bucks are gone
Oh well.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
$50 over spot from my cash and carry dealer as of today
He pays +15.00 over spot
No fuss, no drama
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Nice!
I can't always make it out during their hours and not sure of what they have right now. Been months since I have been in a local B&M
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
_
$50 over spot from my cash and carry dealer as of today
He pays +15.00 over spot
No fuss, no drama
mark
_
Sounds like Dave...
Dave in Michigan and CNI in LA,
Howdy Mark
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Was close by to my nearest BM....
Stopped in and asked. They want $65 over spot and kept trying to push me towards the bars. I understand they have less of a premium, but I was specifically asking about the 1 oz GAEs. Not the maples, not the bars.
They must have gotten a good deal on the bars
I left with nothing. Wanted a couple of ounces....too in my checkbook and cash, just in case, but didn't like the way they were pushing.....
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
$65 over spot is ridiculous. I understand ebay sellers hiking the premium,especially with 15% or so in fees, but in your situation it's too much mark up. When I was buying them up, I rarely went over 2.5-3% of spot.
I want to say we're selling them at $45 or 50 over currently.
And now you know why I was asking what others were paying
Thanks for the responses
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Less today.