LCS Report

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waxybilldupp
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Big Coin Show ...

Big for us here in Northern Flyover Land, that is.  3-dayer ... happens twice a year.  Started Friday afternoon.  Got there about 11 AM today.  Busy place ... saw lots of old farts, like me, heading in when I arrived.

Lots of silver ... 1/2 oz. to 100 oz.  Best price on ASEs was $20.50 with typical price $21-22.  Canadian wildlife from last couple of years are getting spendy (IMHO).  Not a lot of 90% and what there was seemed expensive at about 15X (melt about 12X).

Fair amount of gold, but few "deals".  Saw quite a few 1 oz. AGEs at $1300+ ($1340 was the highest I saw).  Maybe that's why they were still there.  Found a gold Buffalo, still in mint packaging, for $1250.  Not a super deal, but I didn't have one yet.

Deal of the day was a from a dealer stuck back in the corner.  He was trying to move some stuff to pay for the kitchen remodel he just had done.  Wifey said she was very happy with her new kitchen.  Got a 20 franc French rooster 1910 in unc condition, a 1984 British 5 pound gold coin (1.17 oz.), and a 1/2 oz. gold proof Britannia, all at 3% over spot.  I was happy that his wife was happy.

Heard several dealers in conversations with other dealers say that the place was busy but not a lot of money being spent.  Several said they would not be be back on Sunday.

River are open and lakes will probably be ice free in 2 weeks at the latest.  I see a canoe trip in my future.

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Wax off

TomMack
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lcs

i haven't been at the lcs too much lately.  amazingly none of the newly printed fiat made its way to either my left or right pocket,  not too much of the older fiat either!  anyway they had plenty of everything.  I managed to get a Rooster (,1876 toz)nd a Ducat (.1106 toz)  for 360 frns.  unfortunately here the heartland the weather is nice and i flipped the canoe on the way home, in almost the exact spot as last year, and lost my coins!

stack and stack again

there is no wrong choice   imo

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AgEngineer
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update

Preferred local store was closed this payday for Good Friday. Secondary shop seemed to expect higher prices and the premium was adjusted accordingly. SAE was priced at spot plus $5 with the owner admitting to selling at spot plus $6 to those just buying just a couple of ounces. US Gold 1/10th was priced with a 20% premium but Mexican 2.5 pesos were only spot plus 5%.

SilveryBlue
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Yay us!

NZ Mint just got $1700 per coin as ask price.

Sincerely - this sucks bigtime.

Be glad you don't have exchange rates to deal with.

Osiris
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Santa Cruz,Ca LCS

Hey all,

Was is Santa Cruz area couple of weeks ago on a Saturday.  Bautiful weather that day. LCS there had just moved into a new location.

There were 3 gentlemen just hang out shooting the shit with the owner behind the counter.  I walked in.  Silence. Made a joke.  Didn't go over well.

Owner showed me a 40-50 Morgan & Peace dollars in 2x2's in two separate felt cases, most in the $40-$200 range.

I bought a couple of Morgan's for $21 each for the heck of it.  XF and Cleaned. 

No gold at all.  Someone came in during my first transaction asking for it and the LCS owner said he was all out... "The last of the fractional was unloaded early in the day."  That guy just left. Lady came in in looking for owner  since other store was closed.  She was worried about him. Seemed a like close community I was an ouutsider.

After  buying the Morgan's, I asked about 90%;  All he had was $5 face of BU/AU Roos dimes for $62. He wanted 12x face plus tax. I negotiated the sales tax and I was only carrying a $100 + change in my wallet. Not bad at 12.5x face.  After buying the Morgan's, I think he was generous on the 90%, as it was only about 5% over spot on that Friday's closing spot.

I was only customer under age 60.  Including 3 guys, prospective gold buyer and somewhat crazy lady.

Osiris

Osiris
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Santa Cruz,Ca LCS

Hey all,

Was is Santa Cruz area couple of weeks ago on a Saturday.  Beautiful weather that day. LCS there had just moved into a new location.

There were 3 gentlemen just hanging out shooting the shit with the owner behind the counter.  I walked in.  Silence. Made a joke.  It didn't go over well. 

Owner showed me about 40-50 Morgan & Peace dollars in 2x2's in two separate felt cases, most in the $40-$200 range.

I bought a couple of Morgan's for $21 each for the heck of it.  XF and Cleaned. 

No gold at all.  Someone came in during my first transaction asking for it and the LCS owner said he was all out... "The last of the fractional was unloaded early in the day."  That guy just left. Lady came in looking for owner  since other store was closed.  She was worried about him. Seemed a like close community; I was an outsider.

After  buying the Morgan's, I asked about 90%;  All he had was $5 face of BU/AU Roos dimes for $62. He wanted 12x face plus tax. I negotiated the sales tax and I was only carrying a $100 + change in my wallet. Not bad at 12.5x face.  After buying the Morgan's, I think he was generous on the 90%, as it was only about 5% over spot on that Friday's closing spot.

I was only customer under age 60.  Including 3 guys, prospective gold buyer and somewhat crazy lady.

Osiris

AgEngineer
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update and question

Visted one local shop Saturday which was only selling 2015 SAE "as gifts" for $23 each in a snap case. Second shop at lunch today was all out of bullion and only had key date Morgans over $80 and pre-33 US Au with hefty premiums. Recently converted a family member who gave me slightly more than the spot price of 2 oz Au with instructions to start their stack with whatever I thought best. I understand this is an often debated question, but I would appreciate the thoughts of this board on buying for someone close who is just starting their journey on our beloved path. What do you buy first when buying for someone new?

Spartacus Rex
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@ AgEngineer

AgEngineer wrote:
Visted one local shop Saturday which was only selling 2015 SAE "as gifts" for $23 each in a snap case. Second shop at lunch today was all out of bullion and only had key date Morgans over $80 and pre-33 US Au with hefty premiums. Recently converted a family member who gave me slightly more than the spot price of 2 oz Au with instructions to start their stack with whatever I thought best. I understand this is an often debated question, but I would appreciate the thoughts of this board on buying for someone close who is just starting their journey on our beloved path. What do you buy first when buying for someone new?

The GSR presently @ approx. 75-1 makes it pretty much a no brainer for 1st timers to start heavily in with Silver at the moment, as there will be plenty of time later to swap same into Gold when the GSR drops, giving a much better purchasing value.

Also it is the smallest coins/ denominations which have the highest utilitarian value, and given the massive beat down the Silver has taken from it's 2011 high, now is the best time to focus on accumulating Silver Dimes, Quarter Dollars, Half Dollars, etc., sticking with common dates, high mintage, AU -BU preferrably, but even $100-$500 Face Value bags of 90% Silver Coins will provide any 1st timer with an affordable foundation to build upon, the rest will depend on whatever personal budgets will allow.

Cheers, S. Rex  

Boswell
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I started with...

Being new to the game, I started with some silver dollars (VG/XF) and a few rolls of BU Quarters to play it safe. Soon branched out to ASEs and some silver bars. Now I buy whatever is "on sale" when I am buying.

stackaloha
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@ag engineer & S.Rex

I agree with Sparticus on this point. The GSR is roughly 75 which means that silver should be the entry purchase for anyone new to stacking PM's,now, and for the near future at least. AgEngineer I don't know if you are a gold member Turdite because I can't be bothered to check, but at the end of the Thursday A2A interviews Turd almost always asks the interviewee "if you had $1200 to spend on PM's would you buy 1 ounce of gold or 75 ounces of silver?" They say silver 95% of the time from what I remember... The GSR is why.

Personally, I can say that my stack contains a lot of variation in coins/bars but I love my 90% coins. I like to gift silver to my family/loved ones, sometimes I gift some lunar year coins from perth because people ooooh and aaaah over them which is good to get them on board, BUT I like giving the 90% 1964- coins the best. Right now they are cheap.

On a side note: I am mid-move again and have my stack with me. I broke it out tonight and showed my buddy and his son some of it, it was fun to see the little guy's (he's 12) reaction as I showed him various fine silver bars/coins, however he really really liked the old 1964- silver coins so I gave him a couple dollars face value in this and that. I feel very good about it!

Back on point now, pick up a few low premium well struck fine silver for your friend (maybe a 10 oz bar too, they feel nice) and the rest 90% 1964- US coins AgEngineer, your friend will thank you for it!

erewenguy
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@Agengineer

I would suggest a 1 oz Au bar, and fill in the rest with 10 oz bars of Ag and THEN small miscellaneous pieces to close up the total. Get as much pure metal for the money as possible. Ag swings may be a bit sickening for a newbie. Gold helps alleviate the motion sickness.

Your family member has essentially asked you to be a financial advisor. Think maximum holdings (minimizing cost), and diversification for protection of principal with opportunity for gains. Don't go all in on one metal - you have a 50% chance of being wrong.

The A2A guests are presented with the question of buying only one metal. You don't have that hypothetical constraint.
 

AgEngineer
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Very Thank You

The answers to my question are part if the reason I appreciate this community. I enjoy the final four questions at the end if the A2A but have understood the question about 1 oz of Au or 70 oz of Ag as an either/or and not some combination of both. However, I had not even considered Constitutional silver for purchase for a new stacker. I hesitate to buy all of one metal but fractional Au may allow for flexibility in the same way pre-64 US coins are like a fractional silver. Thank you all again for the well thought out responses. 

Boswell
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Constitutional silver...

Yeah, its still familiar, but different, verrry different and illustrates the problem of currency debasement.

Hammer
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Had a fun afternoon at my

Had a fun afternoon at my local shop - prices converted to usd and gbp the guys there know me and always knock between 5-15 percent off

http://www.royalmint.com/discover/uk-coins/circulation-coin-mintage-figures/2008-dated-uk-collector-coin-sales

2008 silver proof 1 ounce Britannia boxed and with coa for 56 usd/37 gbp

2009 proof Britannia boxed with coa for 67 usd /45 gbp

http://www.royalmint.com/discover/uk-coins/circulation-coin-mintage-figures/2009-dated-uk-collector-coin-sales

a vf 1862  sovereign 335 usd/223 gbp

http://thecoincabinet.com/coin-categories/product/2907-united-kingdom-victoria-1862-gold-sovereign-vf.html

a vf 1872 sov 343 usd/228 gbp

a vf 1902 Edward VII 1/2 sov 159 usd / 106 gbp

a 1983 silver uncirculated libertad 23 usd

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Hammer
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Just visited the 26th

Just visited the 26th International Coin Convention in Tokyo at The Royal Park Hotel. Massive event with numismatic stalls and JNDA accredited from all over the world. National Mints represented there as well. Running for 3 days from yesterday May 1st to Sunday May 3rd.

Picked up a proof 1986 sov boxed with certificate for 45,000 yen 247 gbp/374 usd (one just sold on ebay for 62,000 yen (only proofs issued that year no others, so limited mintage)

http://www.ebay.com/itm/1986-gold-proof-sovereign-boxed-with-Coa-/331534774267?pt=LH_DefaultDomain_3&hash=item4d31032ffb

http://www.goldsovereigns.co.uk/1986sovereign.php

and a regular  1966 sov to add to what appears to have become a year run on collecting sovs :)

http://www.goldsovereigns.co.uk/forsaleelizabethii.html

with a 1937 George VI silver sixpence proof uncirculated (overpaid for it a bit but nice bit of fun history)

Gabillions of coins of all shapes and sizes........you need three days to actually see everything !!!

May have to go back tomorrow :)

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"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008
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Hammer
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Couldn't resist. I did indeed

Couldn't resist. I did indeed go back and picked up a bunch of 1/10 ozs.

Yesterday, I had noticed this little 1/10 oz maple 1983 (in its square cardboard case with the plastic circle in the middle in which the coin lay) in the tray in its own square partition from behind the glass counter - over spot and surrounded by lots of fierce expensive  numismatic stuff and a myriad of trays of expensive numismatics from a bygone age and I literally thought to myself, "If you are there tomorrow little fella, I'll take you home."

Well, I found the stall and the little coin was still there. I asked the old man sitting quietly behind the glass case to pull the tray out as I wanted to buy it and he then said to me, "You know, there are some more underneath it as well," and lifted up the maple to reveal a 1/10 Krug and a couple of others. The old guy said to me if I bought the lot, then spot would be fine for them all. We exchanged and the old man went back to his newspaper and seat while his son busied himself with another customer and I went on my way.

What a lovely moment - this little story that unfolded over two days made my weekend. On my way out, I stopped off to pick up this (very low mintage 1600 ish  and a beautiful design and story to go with it)

https://store.royalexsilver.com/shop/uk/300th-anniversary-of-queen-anne-2014-uk-5-gold-plated-coin/?woocommerce_waitlist=15175&woocommerce_waitlist_nonce=7af2e63b10

this (a popular coin, low mintage and a rarely used crown shield design)

http://24carat.co.uk/frame.php?url=2014crowngeorgefirstbirthday.php

and this (just liked the fibonnaciesque spiral design)

http://www.govmint.com/2014-france-10-euro-silver-baccarat-proof.html

and headed for the coffee area to order a beer and enjoy the moment.

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"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008
WTF ! Now you tell us !!!

Hammer
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Ordered this first thing

Ordered this first thing today - hope I get it. Only 750 mintage

http://www.royalmint.com/shop/The_2015_Royal_Birth_Celebration_Sovereign_Struck_on_Day

Also ordered this and that is in already.

http://www.royalmint.com/shop/The_Royal_Birth_2015_United_Kingdom_5_pound_Silver_Proof_Coin

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"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008
WTF ! Now you tell us !!!

Patriot Family
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Spokane Area LCS

I visited last week to sell (yes, sell) a couple oz of gold to fund some upcoming projects on our property focusing on food production and as a stop gap for a very temporary cash shortage while between jobs.  Plenty of silver in stock, plenty of gold up to 1 oz.  The place seemed busy.  I did not let go of my 2013 PF70UC Libertad.  They could not give me enough.

I'm looking to go in heavy on silver at the moment.  I'm taking a new job in Dallas starting this month, so I'll have a couple of geographic areas to focus on.  WA mountains will remain home for now, and Dallas will be my working location.

Trying like crazy to get everything done before I depart.  Building a chicken coop in a day is no easy task.

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Hammer
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While waiting for the Royal

While waiting for the Royal Mint 750 mintage sovereign struck on the same day as Princess Charlotte's birth, I treated myself to another, this time, Imperial bit of history.

This two coin proof set http://www.mint.go.jp/buy-eng/international-eng/commecorative-coins-eng/eng_coin_international_commemorative_page08.html is utterly stunning and the Imperial purple plush box, fine inside upper box writing  and certificate and outer cardbord double box with gorgeous colours and images on it (including a lovely colorful hologram when you move the capsule in the light), is well worth the price.

Picked up from a Japan Numismatic registered (JNDA) well know shop for 105,000 yen - that is 870 usd or 563 gbp for 20g of pure gold history (proof struck, box and coa). Emperor Akihito is now 82 years old, so there may be some extra numismatic associated with it when he wends his merry way. Either way, in detail, when you look closely at the fine detail, it is a simply stunning piece of high quality craftsmanship.

The whole item just oozes quality.

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"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008
WTF ! Now you tell us !!!

DeaconBenjamin
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East Texas LCS

junk was at $13.5/1.  Bought a holed 1853 O dime.  Also bought a 100 yuan note for a dollar (in current circulation).  Was thinking of exchanging it for silver, but after hearing Jim Willie, I may just hold on to it for a while.  LCS is going into slabbed silver dollars in a big way; did pick up some Peace Dollars for $18 each.

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