How much over spot are you paying for Silver Eagles?

16 posts / 0 new
Last post
rjsand
rjsand's picture
Offline
Joined: 06/14/2011
Hat Tips: 824
Posts: 121
How much over spot are you paying for Silver Eagles?

I stumbled across this tonight and am pretty stoked.  I thought my $3.50-$4.75 over spot from my local coin shop was the best deal I could get.  Have you heard of the "Preservation Of Wealth" wholesale club thing?  Check this out if you are paying more than $2..60 over spot for Silver Eagles or more than 2% over spot for Gold Eagles:

https://preservationofwealth.net/joinus

I'm excited!  Here I thought POW's were Prisoners of War. 

God bless you,

rjsand

Edited by admin on 11/08/2014 - 05:06

__________________

Gold and silver are to fiat money what sunlight is to a vampire.

Blight Master
Blight Master's picture
Offline
Joined: 07/18/2011
Hat Tips: 480
Posts: 119
I try and never pay more than

I try and never pay more than a dollar over spot. I go to a lot of coin shows, am a member of a coin club, and shop around at different local shops. Spend five minutes in a coin shop and you'll notice that a lot of people are selling (to the shop.) They're not only selling but they're only getting 80% of melt. There's nothing wrong with this as the shop needs a good margin to make money but I'd just rather cut out the middle men. My LCS sells 1000$ face bags of junk to apmex almost daily so I always wondered why I'd let two middle men plus shipping and taxes in between me and my silver when all I had to do was go to the source. Its also cool as heck to get a roll of BU Mercury dimes for 20% less than you would have paid for junk dimes.

kingbee4
kingbee4's picture
Offline
Joined: 07/19/2011
Hat Tips: 232
Posts: 36
Try Tulving

Tulving.com has eagles about 2.79 over spot.  You would have to buy a bunch of eagles (1300+ per year) to make back that $250 sign-up fee to pay for the small savings.  It may be worth it for some.

geronimo5
geronimo5's picture
Offline
Joined: 07/23/2011
Posts: 2
Source

PandaLiberator

Whats the source? Intercept the sellers in front of the coin shop? That won't last long with the coin shop owner. I'm a noob and don't know what LCS is?

Thanks!

Assn92me
Assn92me's picture
Offline
Joined: 06/14/2011
Hat Tips: 36
Posts: 5
Quote:I'm a noob and don't

Quote:
I'm a noob and don't know what LCS is?

Local Coin Shop

Luca
Luca's picture
Offline
Joined: 07/24/2011
Posts: 2
Hi. I would like to

Hi.

I would like to know,where to buy american silver eagles at the best over the spot price

thank you

LVStrapped
LVStrapped's picture
Offline
Joined: 06/14/2011
Hat Tips: 312
Posts: 46
Coin Shop KY

I just picked up a full tube's worth Friday for 43.50 a coin.  3.50 over spot is not bad considering what I would pay on ebay plus shipping some days. 

__________________

"Man cannot discover new oceans unless he has the courage to lose sight of the shore."

Luca
Luca's picture
Offline
Joined: 07/24/2011
Posts: 2
Thank you. I'm searching

Thank you.

I'm searching somethimg about $ 1,5- 2 over the spot price.

I've read about  $ 1 (that seems very cheap).

Blight Master
Blight Master's picture
Offline
Joined: 07/18/2011
Hat Tips: 480
Posts: 119
geronimo5

geronimo5 wrote:

PandaLiberator

Whats the source? Intercept the sellers in front of the coin shop? That won't last long with the coin shop owner. I'm a noob and don't know what LCS is?

Thanks!

I've actually only done that once (met a guy in front of the coin store) and I probably wouldnt do it in the future. Its really about networking into your community. Joining your local coin club and going to local coin shows is the best.  I did the craigslist thing for a while but I found it not worth my time. I buy most of my junk from a couple people I know from around the community. These are older guys sitting on literally tonnes of silver that need cash from time to time to pay bills. Once you build up a good relationship with your LCS you'll also start getting better deals. Spend enough time in the shop looking through cases and piddling around and you'll start to understand how their business works. All the time I see someone new to stacking come into a store where I'm browsing. The sales people are usually pretty good at reading people and guessing what to charge them. Every once in a while you get the clean cut, middle aged guy come in that seems desperate to get their hands on some PM's and they pay ridiculous prices. Nothing like watching one person come in to sell only to get 80% of spot, then watch someone come in to buy and pay 8 bucks over spot for the same coins. Then when its my turn to buy they only charge me two bucks over spot and I haggle them down to a buck over spot. Prices at local places are never fixed and haggling over price is half of the fun to me. At the end of the day what they dont sell to me is going to the wholesaler or to melt anyways, they know this, I know this, and thats how the deals are gotten. Local silver here is a total buyers market, the internet is the opposite, the only time this changed was that little run up to 50 when the dumb money started piling in.

Harald
Harald's picture
Offline
Joined: 06/14/2011
Hat Tips: 1738
Posts: 390
Local coin shop NC

I paid $42.00 for some silver eagles on Friday afternoon, I bought all he had plus some rounds and some Morgan dollars.  He doesn't have much selection because he is cheaper than anyone else and the stuff doesn't stay in the store very long.  As PandaLiberator said in the post above, it's fascinating to listen to these guys talk about the pm market and how it works.  Can learn a lot just hanging around.   

mdcromer
mdcromer's picture
Offline
Joined: 06/14/2011
Hat Tips: 246
Posts: 79
Local coin shop in North Carolina?

Harald,

You bought from a local coin shop in NC?  I'm assuming you had to pay sales tax then? 

Harald
Harald's picture
Offline
Joined: 06/14/2011
Hat Tips: 1738
Posts: 390
Of course

I paid sales taxes.  

jaj64
jaj64's picture
Offline
Joined: 06/14/2011
Hat Tips: 115
Posts: 21
Buy junk silver

Junk silver can generally can be found for around spot prices

bern
bern's picture
Offline
Joined: 06/27/2011
Hat Tips: 1221
Posts: 265
Best deal around right

Best deal around right now:

http://www.tfmetalsreport.com/forum/1605/special-offer-international-precious-metals

__________________

Liberty Library ~ PM Bug

rjsand
rjsand's picture
Offline
Joined: 06/14/2011
Hat Tips: 824
Posts: 121
Luca, Seriously, this is

Luca,

Seriously, this is it...click below. 

__________________

Gold and silver are to fiat money what sunlight is to a vampire.

rjsand
rjsand's picture
Offline
Joined: 06/14/2011
Hat Tips: 824
Posts: 121
Wholesale Prices

https://preservationofwealth.net/Home/Shop

__________________

Gold and silver are to fiat money what sunlight is to a vampire.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "How much over spot are you paying for Silver Eagles?"