How much over spot are you paying for Silver Eagles?

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#1 Sat, Jul 23, 2011 - 3:48am
rjsand
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St. Louis, MO
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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: rjsand on Nov 8, 2014 - 5:06am
Sat, Jul 23, 2011 - 10:48am
Blight Master
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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.

Sat, Jul 23, 2011 - 11:29am
kingbee4
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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.

Sat, Jul 23, 2011 - 9:21pm (Reply to #2)
geronimo5
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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!

Sun, Jul 24, 2011 - 7:08am (Reply to #4)
Assn92me
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Quote:I'm a noob and don't

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

Local Coin Shop

Sun, Jul 24, 2011 - 12:12pm (Reply to #2)
Luca
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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

Sun, Jul 24, 2011 - 1:45pm
LVStrapped
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Everytown
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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."
Sun, Jul 24, 2011 - 1:54pm (Reply to #7)
Luca
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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).

Sun, Jul 24, 2011 - 5:08pm (Reply to #4)
Blight Master
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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.

Sun, Jul 24, 2011 - 6:09pm
Harald
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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.

Sun, Jul 24, 2011 - 6:14pm (Reply to #10)
mdcromer
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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? 

Sun, Jul 24, 2011 - 6:27pm
Harald
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Of course

I paid sales taxes.

Sun, Jul 24, 2011 - 8:36pm
jaj64
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Buy junk silver

Junk silver can generally can be found for around spot prices

Mon, Jul 25, 2011 - 12:03am
bern
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Best deal around right

Thu, Jul 28, 2011 - 10:47pm (Reply to #6)
rjsand
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Luca, Seriously, this is

Luca,

Seriously, this is it...click below. 

Gold and silver are to fiat money what sunlight is to a vampire.
Thu, Jul 28, 2011 - 10:49pm
rjsand
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St. Louis, MO
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Wholesale Prices

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

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