Physical buying experience

hamsackbag

Fly on the Wall
Messages
22
Reaction score
0
Points
0
Location
South Texas, on the Gulf
Howdy folks,
I thought i might give an accounting of my recent PM buying spree in the South Texas area. I went into a coin shop to buy silver. All there was in the store in my interest range were 4 generic .999 1oz "merry christmas 1983" type rounds,a few numismatic collectable pieces for more than double spot that do not interest me,some 40% silver and no gold at all. But the store wasn't empty, on the contrary there were 4 people ahead of me, selling various coins and jewelry and collectables. I waited for some for these sales to occur, and I picked up some freshly sold PMs. I would like to give a breakdown of pricing in my area to maybe compare with others around the globe. On the 23rd of November i was able to purchase .999 generic silver rounds for $33.75, American Silver Eagles for $35.60, 90% silver at $28.00 and a gold Maple for 1740.00.
How does this compare with anyone's recent adventures into the gritty world of Precious Metals? Any comments about the lack of physical, or the status of people selling collections and heirlooms?
And as an aside, does anyone find it ironic that Mr. T and rappers such as Sir Mix-a-lot had better financial advice than many of "The Smartest Guys in the World"
 

pmbug

Your Host
Administrator
Messages
7,540
Reaction score
48
Points
203
Location
Texas
Silver Eagles for $35.60 - assuming spot around $32 - sounds like a very good deal for a local coin shop. You'd be hard pressed to beat ~$3.6 premium over spot + S&H online unless you bought in huge quantity. Last I checked, my LCS was charging around $5 over spot for an ASE.
 

ancona

Praying Mantis
Messages
3,370
Reaction score
1
Points
0
Location
Waaay south
My LCS sells ASE's for two eighty over and generic for a buck ten over. I like going there but he often is waiting on shipments, and will not sell to you at current spot and allow you to come back when it comes in. I prefer Gainesville coins or Apmex for larger orders. I do not buy gold, therefore I cannot offer intelligent discussion about it.
 

DoChenRollingBearing

Yellow Jacket
Supporter
Messages
1,275
Reaction score
0
Points
0
Location
SE USA
WOW, you guys who can get ASEs for just $3.00 or so over spot, that is very good. Under 10% over spot.

Excellent purchase!
 

ancona

Praying Mantis
Messages
3,370
Reaction score
1
Points
0
Location
Waaay south
DCRB, Most times, when he actually does have ASE's, he limits buys to ten ounces because the waiting list is huge. If you're buying fat orders, Apmex will deal with yoy but you need to call them on orders like that. I believe Tulving has pretty low premiums, but I've never had enough dough to fulfil the order minimum of 500 ounces.
 
Top