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What is a fair price to sell dealers BU Silver Eagles?

MKUltra24MKUltra24 Posts: 455 ✭✭✭
edited August 13, 2021 10:34PM in Precious Metals

Hey everyone,

Today I was in Spring Hills, FL and I went to a shop to see if I could sell or trade some ASEs for gold since I’m running out of space in my safe.

I was hoping to trade 75 ASEs for 1 AGE.

The dealer said he pays spot + $2 for BU Silver Eagles and spot + $50 for Gold Eagles.

At the time silver was $23.75 so he was offering $25.75 each.

Is that a fair price? What do most dealers pay? I’ve met some who offer spot and no more and I’m just curious so I don’t end up getting ripped off.

Thanks! :)

Comments

  • cohodkcohodk Posts: 17,012 ✭✭✭✭✭

    @MKUltra24 said:
    Hey everyone,

    Today I was in Spring Hills, FL and I went to a shop to see if I could sell or trade some ASEs for gold since I’m running out of space in my safe.

    I was hoping to trade 75 ASEs for 1 AGE.

    The dealer said he pays spot + $2 for BU Silver Eagles and spot + $50 for Gold Eagles.

    At the time silver was $23.75 so he was offering $25.75 each.

    You were hoping to trade 75 ASE for 1 AGE and were quoted better at 71 ASE for 1 AGE. Do you do the deal?


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • taxmadtaxmad Posts: 814 ✭✭✭

    @cohodk said:

    @MKUltra24 said:
    Hey everyone,

    Today I was in Spring Hills, FL and I went to a shop to see if I could sell or trade some ASEs for gold since I’m running out of space in my safe.

    I was hoping to trade 75 ASEs for 1 AGE.

    The dealer said he pays spot + $2 for BU Silver Eagles and spot + $50 for Gold Eagles.

    At the time silver was $23.75 so he was offering $25.75 each.

    You were hoping to trade 75 ASE for 1 AGE and were quoted better at 71 ASE for 1 AGE. Do you do the deal?

    Nowhere in his post does he state the dealer’s AGE sell price.

  • cohodkcohodk Posts: 17,012 ✭✭✭✭✭

    @taxmad said:

    @cohodk said:

    @MKUltra24 said:
    Hey everyone,

    Today I was in Spring Hills, FL and I went to a shop to see if I could sell or trade some ASEs for gold since I’m running out of space in my safe.

    I was hoping to trade 75 ASEs for 1 AGE.

    The dealer said he pays spot + $2 for BU Silver Eagles and spot + $50 for Gold Eagles.

    At the time silver was $23.75 so he was offering $25.75 each.

    You were hoping to trade 75 ASE for 1 AGE and were quoted better at 71 ASE for 1 AGE. Do you do the deal?

    Nowhere in his post does he state the dealer’s AGE sell price.

    Haha. Thats what one gets for posting in the middle of the night when cant sleep.

    Even the overpriced bullion dealers are offering AGEs for under 1900 so he should have been able to make the trade for 73-74 ASE.

    Even at spot +150 on the sell side the OP would have gotten his offer.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • blitzdudeblitzdude Posts: 3,905 ✭✭✭✭✭
    edited August 14, 2021 3:12AM

    Premiums are quickly dropping but you should be able to do better than +$2. My LCS was offering +$4.50 last week and I'm still getting slight interest +$6.5 at the retail level. Some wholesalers are still offering around $4.

    You mention you were hoping to swap 75 ounces of ASE for a AGE. That's exactly where the GSR is right now so your realizing a $150 premium on the sale of your ASEs @ $2 over. Most of the big online dealers are currently selling AGEs at 5-6% premium so you are looking at around +$100. Looks like you are already better than 75:1 even at $2 over.

  • MKUltra24MKUltra24 Posts: 455 ✭✭✭
    edited August 14, 2021 4:00AM

    @blitzdude said:
    Premiums are quickly dropping but you should be able to do better than +$2. My LCS was offering +$4.50 last week and I'm still getting slight interest +$6.5 at the retail level. Some wholesalers are still offering around $4.

    You mention you were hoping to swap 75 ounces of ASE for a AGE. That's exactly where the GSR is right now so your realizing a $150 premium on the sale of your ASEs @ $2 over. Most of the big online dealers are currently selling AGEs at 5-6% premium so you are looking at around +$100. Looks like you are already better than 75:1 even at $2 over.

    @cohodk said:

    @MKUltra24 said:
    Hey everyone,

    Today I was in Spring Hills, FL and I went to a shop to see if I could sell or trade some ASEs for gold since I’m running out of space in my safe.

    I was hoping to trade 75 ASEs for 1 AGE.

    The dealer said he pays spot + $2 for BU Silver Eagles and spot + $50 for Gold Eagles.

    At the time silver was $23.75 so he was offering $25.75 each.

    You were hoping to trade 75 ASE for 1 AGE and were quoted better at 71 ASE for 1 AGE. Do you do the deal?

    Oops that was my mistake I meant to type 70 ASEs not 75. It’s super late here in CA. O_o

    Really you can sell yours for $4.50 above spot?? Where do you go??

    I would be ecstatic if I could get even $3.25 over spot for my sealed tubes of 2020 ASEs.

  • TennesseeDaveTennesseeDave Posts: 4,428 ✭✭✭✭✭

    Oops that was my mistake I meant to type 70 ASEs not 75. It’s super late here in CA. O_o

    Really you can sell yours for $4.50 above spot?? Where do you go??

    I would be ecstatic if I could get even $3.25 over spot for my sealed tubes of 2020 ASEs.

    JM Bullion is offering $4.50 over spot for SAE's

    https://jmbullion.com/my-account/buyback-products/

    Trade $'s
  • MKUltra24MKUltra24 Posts: 455 ✭✭✭

    @TennesseeDave said:

    Oops that was my mistake I meant to type 70 ASEs not 75. It’s super late here in CA. O_o

    Really you can sell yours for $4.50 above spot?? Where do you go??

    I would be ecstatic if I could get even $3.25 over spot for my sealed tubes of 2020 ASEs.

    JM Bullion is offering $4.50 over spot for SAE's

    https://jmbullion.com/my-account/buyback-products/

    Oh wow thanks!! Maybe they will do a trade for 1 oz of gold.

  • derrybderryb Posts: 32,840 ✭✭✭✭✭

    One should not make the mistake of thinking a drop in price is also a drop in premiums. This can lead to bad timing of a major purchase. Premiums that remain strong in the face of a weakening price support a decision to buy the dip.

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • blitzdudeblitzdude Posts: 3,905 ✭✭✭✭✭

    ASE premiums are/have been dropping and will continue to do so. RGDS!

  • derrybderryb Posts: 32,840 ✭✭✭✭✭
    edited August 14, 2021 10:37AM

    @blitzdude said:
    ASE premiums are/have been dropping and will continue to do so. RGDS!

    As a percentage of ASE price vs. physical spot price they have not been dropping, they are holding - they remain strong. The weakness is in price, not premium. When the price of A (the ASE) is heavily dependent on the price of B (the paper silver) the price of A will naturally decline with the price of B. You continue to confuse the percentage difference between the two (the premium) with that of the price of both.

    As explained to you in the "Silver spot vs premium tracking thread," simply because the price of an ASE drops in step with a drop in spot price does not mean premiums have dropped. It means prices have dropped. In such a scenario premiums can in fact increase, bearing witness to the current strength of real silver vs. make believe silver.

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • cohodkcohodk Posts: 17,012 ✭✭✭✭✭

    @derryb said:

    @blitzdude said:
    ASE premiums are/have been dropping and will continue to do so. RGDS!

    As a percentage of ASE price vs. physical spot price they have not been dropping, they are holding - they remain strong. The weakness is in price, not premium.

    Derryb, we appreciate your attempts to spin and misdirect. We really do. But more importantly we value fact. And following are facts.

    Several months ago ASEs were selling at $10 premium over spot of $28 for an "insurance policy cost" --as you would call it--of $38.

    Today ASEs are selling at a $7 premium over spot of about $23, making your insurance policy cost $30. And if you wanted to cash in that policy youd get $28.

    At the same time a 100oz bar would have cost about $32. And today youd cash it in for $24. Both the ASEs and 100oz bars dropped about 25% from peak ask to low bid.

    That looks like dollar destruction to me. Your paying of extra $$$ over spot did not offer any protection. And physical certainly did not offer any protection over paper.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • TwoSides2aCoinTwoSides2aCoin Posts: 42,333 ✭✭✭✭✭
    edited August 15, 2021 7:10AM

    I traded a forum member 100 eagles for a gold Eagle, once. Strait trade by GSR. Got my butt whooped. Is that fair ? I'm a dealer ( albeit not bright ).

  • TwoSides2aCoinTwoSides2aCoin Posts: 42,333 ✭✭✭✭✭

    And the only reason that happened above was because I asked if anyone ever traded by gsr. I was wanting the silver for gold, too. Oops. Customer wins.

  • derrybderryb Posts: 32,840 ✭✭✭✭✭
    edited August 15, 2021 8:30AM

    @cohodk said:

    @derryb said:

    @blitzdude said:
    ASE premiums are/have been dropping and will continue to do so. RGDS!

    As a percentage of ASE price vs. physical spot price they have not been dropping, they are holding - they remain strong. The weakness is in price, not premium.

    Derryb, we appreciate your attempts to spin and misdirect. We really do. But more importantly we value fact. And following are facts.

    Several months ago ASEs were selling at $10 premium over spot of $28 for an "insurance policy cost" --as you would call it--of $38.

    Today ASEs are selling at a $7 premium over spot of about $23, making your insurance policy cost $30. And if you wanted to cash in that policy youd get $28.

    Talk about spin and misdirection, if you wanna talk facts, be sure to get them strait. Using your own source of data from your premium tracking thread, current ASE premiums are 8.99, not 7.00 and that is based on the $1.00 off sale price. If not for the current sale the premium would be 9.99.

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • derrybderryb Posts: 32,840 ✭✭✭✭✭

    @TwoSides2aCoin said:
    I traded a forum member 100 eagles for a gold Eagle, once. Strait trade by GSR. Got my butt whooped. Is that fair ? I'm a dealer ( albeit not bright ).

    GSR is a good tool for assigning current value fairly to each of the two metals when making a trade or making a decision on which to buy. Unfortunately as your case implies it then moved in the wrong direction. That's a chance we all take with PM purchases. It could just as easily have proven to be a great trade. This is why GSR trend is as equally important as current value.

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • blitzdudeblitzdude Posts: 3,905 ✭✭✭✭✭
    edited August 15, 2021 11:35AM

    @derryb said:

    @cohodk said:

    @derryb said:

    @blitzdude said:
    ASE premiums are/have been dropping and will continue to do so. RGDS!

    As a percentage of ASE price vs. physical spot price they have not been dropping, they are holding - they remain strong. The weakness is in price, not premium.

    Derryb, we appreciate your attempts to spin and misdirect. We really do. But more importantly we value fact. And following are facts.

    Several months ago ASEs were selling at $10 premium over spot of $28 for an "insurance policy cost" --as you would call it--of $38.

    Today ASEs are selling at a $7 premium over spot of about $23, making your insurance policy cost $30. And if you wanted to cash in that policy youd get $28.

    Talk about spin and misdirection, if you wanna talk facts, be sure to get them strait. Using your own source of data from your premium tracking thread, current ASE premiums are 8.99, not 7.00 and that is based on the $1.00 off sale price. If not for the current sale the premium would be 9.99.

    >

    Here you go, $5.99 over and your welcome. Now stop overpaying at APMEX. lol
    https://monumentmetals.com/2021-american-silver-eagle-type-2.html

  • derrybderryb Posts: 32,840 ✭✭✭✭✭
    edited August 15, 2021 4:58PM

    @blitzdude said:

    Here you go, $5.99 over and your welcome. Now stop overpaying at APMEX. lol
    https://monumentmetals.com/2021-american-silver-eagle-type-2.html

    and what was the premium at this location when the premium was $10 at APMEX. You can't pick your low price seller and compare him to your high price seller and say "look at the difference in premiums, they're dropping." LOL

    The discussion is about changes in premiums with the same product from the same seller not the difference in price between a high and a low seller. But, hey, spin it anyway you gotta to make your "facts" stick.

    But if you want to change the topic, you are correct, shop around, - I do. My last ten tubes were bought for $2.50 over spot.

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • derrybderryb Posts: 32,840 ✭✭✭✭✭

    Bullion buyers will pay a premium based on what they consider the quality and re-sellability of a particular bullion product. As past and current premiums prove (yep, another fact that is not conspiracy theory), ASEs rank high on that list.

    If you have a question about a bullion coin's role as a collector item, you should probably ask that question on the US COIN forum. There are many serious collectors of modern bullion coins who want the best coins they can find. One man's junk is another man's treasure.

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • derrybderryb Posts: 32,840 ✭✭✭✭✭
    edited August 15, 2021 3:15PM

    yet to over 17,000 recent ebay shoppers, in NGC slabs alone, they are collectible

    pennies are common yet they are collected. collectible does not require "rare," it requires "want."

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • derrybderryb Posts: 32,840 ✭✭✭✭✭
    edited August 15, 2021 4:10PM

    that's why we each get to chose what we want to collect. I don't collect ASEs but who am I (or you) to chastise those that do.

    Morgan dollars were originally issued as bullion to create demand for the Wild West silver discoveries. You really should go over to the coin forum and pick a few fights over bullion coin collecting. The experience will serve you well. lol

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • blitzdudeblitzdude Posts: 3,905 ✭✭✭✭✭

    @derryb said:
    that's why we each get to chose what we want to collect. I don't collect ASEs but who am I (or you) to chastise those that do.

    Morgan dollars were originally issued as bullion to create demand for the Wild West silver discoveries. You really should go over to the coin forum and pick a few fights over bullion coin collecting. The experience will serve you well. lol

    You've been collecting ASEs for over a decade and your still nowhere even close to breakeven. Perhaps 2030-2040 will serve you well. :p

  • derrybderryb Posts: 32,840 ✭✭✭✭✭
    edited August 15, 2021 6:30PM

    @blitzdude said:

    @derryb said:
    that's why we each get to chose what we want to collect. I don't collect ASEs but who am I (or you) to chastise those that do.

    Morgan dollars were originally issued as bullion to create demand for the Wild West silver discoveries. You really should go over to the coin forum and pick a few fights over bullion coin collecting. The experience will serve you well. lol

    You've been collecting ASEs for over a decade and your still nowhere even close to breakeven. Perhaps 2030-2040 will serve you well. :p

    There you go again, pretending you know the trades of others. You really need to focus on your own so that you don't stay underwater. I don't collect ASEs. I hoard raw bullion silver, primarily in the form of ASEs and 10 oz RCM bars. I pay bullion premiums, not slabbed collector premiums.

    My hoard of silver is well above water, but thanks for the concern. Unlike you I know when to buy and when to liquidate. My buy/sell process has grown my hoard multiple times over the years using only the flipping profits to make it grow. So, don't pretend to know how to profit with bullion when you admittedly can't do it yourself.

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • derrybderryb Posts: 32,840 ✭✭✭✭✭

    It's quite simple, don't collect them. lol

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • derrybderryb Posts: 32,840 ✭✭✭✭✭

    You forget that many collectors collect for the simply joy of collecting. It's not always about profit. Modern ASEs, especially with their numerous mint varieties in recent years, give collectors something that is readily available, fun and in most cases, cheaper to collect.

    I once had a friend in grammar school who collected buggers under his desk. Let the collectors enjoy their collection.

    The job of the mainstream media today is to make you think that the views of 10 % of the country are actually the views of 80% of the country.

  • MKUltra24MKUltra24 Posts: 455 ✭✭✭
    edited August 16, 2021 4:36AM

    @BadWithMoney said:

    @derryb said:
    It's quite simple, don't collect them. lol

    I don't see anything wrong with pointing out bad investments. It's not like I'm calling people stupid or anything, I done plenty of dumber things with my money.

    There are just reasons why some things have higher values than other things, sometimes those reasons will not stand the test of time. I mean, these things are more common than wheat pennies, every one uncirculated.

    High mintages don’t mean much.

    Believe it or not people actually pay over $100 for all of these coins in MS64 or better.

    Oh and the 1893-S Morgan Dollar sells for tens of thousands of dollars in MS condition even though there were 100,000 made!

    Compared to only 75,000 V75 ASEs.

  • TwoSides2aCoinTwoSides2aCoin Posts: 42,333 ✭✭✭✭✭

    Let me guess. The OP still has his silver and the dealer still has his gold and every opinion after is fluff and meaningless. Why ? Because they're opinions.

  • MKUltra24MKUltra24 Posts: 455 ✭✭✭

    @TwoSides2aCoin said:
    Let me guess. The OP still has his silver and the dealer still has his gold and every opinion after is fluff and meaningless. Why ? Because they're opinions.

    Actually I traded some silver for a 1/10th oz AGE.

    Opinions help because I don’t want to get ripped off.

    I don’t know how many times I’ve bought something and then when I share it I’m told “you got ripped off why didn’t you ask if you weren’t sure?”

    So I asked this time.

  • MKUltra24MKUltra24 Posts: 455 ✭✭✭

    @BadWithMoney said:

    @MKUltra24 said:
    Oh and the 1893-S Morgan Dollar sells for tens of thousands of dollars in MS condition even though there were 100,000 made!

    Well yeah, but there are only a relative handful of those that are high grade as they were actual circulating money, while silver eagles are not money at all, so all of them are uncirculated. They are not even close to being rare at high grade.

    You’re 100% right. I agree with everything you said.

    However having said that you’re thinking about right now at this point in time.

    Who knows how many will still be in MS69 or 70 grade 100+ years from now.

    I’m sure if you went around in 1893 and told people you were buying 1893 S Morgan Dollars for $5 a piece they would’ve thought you were crazy.

    I can’t speak for others but when I buy things I buy them for the long term.

    A better example would probably be the state commemorative half dollars.

    I have a 1925-S California Diamond Jubilee Half Dollar commemorative in MS64 condition and those sell for a few hundred dollars even though all of them were sold in high grade and none of them were ever intended for circulation.

    They might not have been worth much in 1926 or 1927 but over time many of them were lost, damaged, etc., and now they are worth way more than $0.50.

  • MKUltra24MKUltra24 Posts: 455 ✭✭✭
    edited August 16, 2021 10:04AM

    @BadWithMoney said:

    @MKUltra24 said:
    Who knows how many will still be in MS69 or 70 grade 100+ years from now.

    If they are all slabbed, then all of them. Any that are not slabbed are still going to be in great shape as they are just sitting in tubes.

    I remember when I was young thinking my comic books were going to be worth a lot of money some day, haha.

    I remember when I was little I thought my Pokémon cards would be worth a lot of money some day.

    I was right ;).

    Unfortunately my parents didn’t believe me and threw them all away when I joined the military.

    Now am I saying that BU ASEs are going to be worth $10,000 some day?

    No of course not.

    But is it possible that some of the proofs with limited mintages like the V75 will be worth a couple thousand some day decades from now?

    Absolutely.

  • 1630Boston1630Boston Posts: 11,024 ✭✭✭✭✭

    @MKUltra24 said:
    Hey everyone,

    Today I was in Spring Hills, FL and I went to a shop to see if I could sell or trade some ASEs for gold since I’m running out of space in my safe.

    I was hoping to trade 75 ASEs for 1 AGE.

    The dealer said he pays spot + $2 for BU Silver Eagles and spot + $50 for Gold Eagles.

    At the time silver was $23.75 so he was offering $25.75 each.

    Is that a fair price? What do most dealers pay? I’ve met some who offer spot and no more and I’m just curious so I don’t end up getting ripped off.

    Thanks! :)

    Not sure this helps any but JM Bullion, now, is
    selling random year AGE for $1898
    buying random year ASE for $28.47
    that would be 67 ASE for 1 AGE
    if I'm interpreting this correctly?

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade

    Bad transactions with : nobody to date

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