There are many pawn shops in my home town. I have discovered that one of the national chain stores is very vulnerable in Silver and Gold coins. The pay 80% of spot to sellers. And resell at 5% over spot. However, they know almost nothing about coins. They can`t recognize fakes, or determine a coin with numi value. Many times I have found scarce ASE`s. I buy these at 5% over spot, then go right to the local coin shop and sell them.
The biggest weakness they have is at end of quarter, the manager is under pressure for sales. He needs to move inventory, particularly high dollar items. They WILL take an offer just below spot.
I`m in there enough, that when a coin comes off the 2 week waiting period , this guy calls me. he told me once, they were up against end of quarter, and needed sales. I now use this in my favor.
The only people getting screaming deals on e bay are sellers. Any buyer that thinks they got a good deal, doesn`t know how to calculate junk. The old bullshit opening line of “3 oz junk silver coins” is bullshit. It`s not 3 ounces troy. it`s 3 ounces on their frigging baby scale.
You have to watch out in pawn shops if you pawn something an it disappears when its in there shop your out your stuff you pawned. Read the receipt of your pawn ticket it says so. And another one that is hidden, Say you buy a diamond ring there worth $4000 dollars an you have it for a year an the cops find out its been in a robbery. they can come an take it from you an your out $4000 dollars. Best to give them a fake name an address if you buy anything
Good info. I quit my local pawn guy because he jacked up his prices way way high. I’ll have to check in at EoQ to see what I can get.
Re ebay. I’ve been doing quite well. My LCS sells 90% at 20x face (at least). Then I have to pay tax, my time there and fuel. Usually I can find good 90% at or below 20x face with little or no shipping. Lately I’ve bought a lot of it well below 20x face and that INCLUDES shipping. I’ve been able to add to my stack nicely with those and I don’t have to do any extra driving, wait for him to open (he’s OFTEN late) or pay tax! Nice.
Now, NO WAY IN HECK will I buy .999 Ag from ebay. Either Provident or Gainesville are the only ways to go I’ve found. APMEX is starting to catch on that their prices are high and finally becoming just a little more competitive, but not that much.
PMG have you bought from SD Bullion? I have purchased from them twice, with no problems. Just received a ‘junk’ order and with shipping included, the price came to 16.5 x Face. Before buying from them I checked around, and SD Bullion had the best price I could find. And although I have never had any issues with how a vendor packed an order, I must say they did the best job I have ever seen, on this recent order.
As a bonus, in this junk order I found a 1938-S quarter, which is the seventh lowest-mintage Washington Quarter. Also found a 1955 Proof quarter and a 1951 with a die crack on the reverse. These numismatic coins will be sold on ebay to recoup a portion of the cost of this order.
Thanks for the link. No, I have not bought from SD. About a month ago I attempted to and found the price/shipping higher than Provident. I actually found Provident after pricing SD. Provident was very fast and easy to deal with. Heck, even checking during this post their shipping is better. Every penny counts.
I’m not dinging SD Bullion at all, just go where the metal/shipping is the cheapest. And no, have ZERO affiliation with Provident. If they follow the lead that all PM sellers do, they’ll soon jack their rates and prices and I’ll be off to the next cheapest dealer.
Just took a peek at the link – nice. Provident has the best price currently for a 10 oz bar. SD’s not even listed on that link; what’s up with that?
Yeah, hit JM last month. Took FOREVER to finally receive the metal. I’m talking a few weeks; unacceptable. This was metal they said they had in stock. Provident is out of my 5 oz’rs today; bummer. Probably have to check SD or Gns’ville.
Thanks, APMEX and Provident are the only two I’ve dealt with online. Similar to you my experiences with both were great. I like APMEX for some of the more unique coins that they offer. Generally Provident is best for prices on regular stuff.
Because uncirculated is the only nice thing to be said about ASE’s
They’re a royal waste off fiat IMO. Official coin to the most detested (and still rising) country on the globe, sold at the premiums of a semi-numi however with highest mintage of all .999 products which prevents it gather substantial numismatic value. What is an ASE better than a Maple Leaf? A larger picture, that’s all. The Maple is prettier, has fewer lies written on it, and the silver has 10x less contamination.
All that ASE’s good for, they are louzy at: smelting. Due to the crazy unjustified high purchase premium, these cannot be offered for smelting. They need to be resold to someone prepared to pay a large (percentage) premium over the cheapest rounds. $0.79-0.99 over spot buys you a really decent round. Will not rise much in value either, but is a better bang for the buck.
The whole point of an ASE being “recognizable” is bogus. There are plenty fakes in “circulation”, a seller always needs to do all the essay stuff too safely buy it. An OPM or Buffalo round doesn’t take any longer to ID as real silver.
With close to 50 million ASE being minted annually, there’s plenty of them for those who still care for them.
Why are you paying $2-5 extra for it? 100 ASE better than 120 OPM/Buffalo rounds?
Please do educate me
OK, the ASE is a bigger, I’ll give it that. I wish 1 ounce coins were all as big as Lunar II’s. Why aren’t they?
And the ASE is an expression of broken promises issued but the government’s treasury department. Which makes the ASE like a swastika Reichsmark. Which incidentally sells at quite a premium also. Crazy world…
The 300.000 limited edition is crazy expensive, the privy versions (usually introduced later in a model year) a bit less so. The Snake and Dragon privies should be had for close to the Panda/Rwanda pricing.
BTW, the 2oz Lunar II’s are 55mm. Compare to 48mm for the Libertad and 47mm for the recent Silver Bullet Silver Shield Freedom Girl 2oz.
Interestingly, the 2oz Lunars are way closer to spot when you time them right. like now. Just around or below Panda pricing. Very impressive coins. And they can collect a nice premium over the years. But, you won’t sell 20 in one go too easily either.
Yes, they’re Austrian treasury approved legal tender. It’s the cheapest silver in Europe pretty much, as for 1oz form.
And you might even do better than $1 cheaper.
But why want something recognizable? If you get shitty 1oz .999 rounds, you get 5-10% more still. Once silver becomes valueble and important, the essayer will take the effort to weigh and analyse it. Today a bag of groceries, by then maybe a cart ful. And if you go to a refiner (times of huge industrial demand), they will not pay you a fiatpenny more for an Eagle or Phili over a round, as far as I know. Only in times when the demand comes primarily from stackers. But what do I know, I’m way new to this, just think too much for myself.
Maple Leafs i like, as they’re .9999 pure and are good to go into medical applications pretty much. Saves refiners some work. And cheaper than Eagles. In the event of medical need (outbreaks, breakdown of govts) Maples might be sought after for their purity, distill all sports of potions directly from. Medical grade silver will be hard to come by if you can’t even get aspirin.
XC Skater, thank you for sharing your views on the ASE’s.
It is always appreciated to know the viewpoint of people who are outside the USA.
While I may not be stacking monster boxes of ASE’s, I intend on scooping up some every year. Variety is the spice of life, right? ASE’s from previous years will indeed have some numismatic value, and having a complete year-collection may be worthwhile, as it can be sold in the future (to purchase even more Silver with). I concur Maples are worth stacking, too.
I shy away from generic rounds because a buyer (another stacker) may be hesitant to purchase something he/she does not recognize, and the ASE is very-well recognized. Not to say the buyer wouldn’t be concerned about fake AS’s, though.
XC, how do the people where you ae at view pre-1965 American ‘junk silver?’
I forgot whether you are in S.A. or The Netherlands.
If it’s about numismatic value, might as well stack Elephants which can be had at same or better premium at times, and premiums shoot up after a new mint year is started. Even Koala’s can challenge ASE’s for price at times, including capsule, for prooflike.
Sorry to break it to you, but outside the USA, people could care less about US junk silver. I got myself 2 Kennedy 40% half dollars recently, because the coin vendor (street vendor) had had to discount it below spot. I got it as a novelty.
When (not if) the USA breaks up, who’ll care about ancient dollars that once were good money, and were instrumental in destruction of global economy? Not me.
Every European country has its own junk silver to care about. I got a bunch of the local junk, and our neighbors’.
I once made a video to show an album selection of what I’ve gathered, just hunting for close/under spot deals. http://www.youtube.com/watch?v=9c8JksChfmA
If (or when) you end up fleeing to Russia/China, will you bring along your bags of pre-1965 to bribe your way around there? When your country ceases to work out, even its pre-globalist junk silver may go out of style. Don’t forget USA has a stronger stacking culture than most anywhere. That’s how 40-50 million of the same butt-ugly coin get sold at high premium, for no added functionality or value and only increased risk of recall/illegalization/confiscation, largely by minting nation of 4% of the global population. And yes, the USA would do that. It’s done it with gold, during the reign of current central bank and current political structure.
My sense of logic strongly rejects the notion that when fiat collapses, ASE’s will become everyday money, because they are so well recognized. Go from one US dollar to a specific incarnation of it? Yeah, the world will warm up to that idea easily. Sure, among US stackers ASE’s are great to barter with. But when USA prohibits silver transactions, or transactions in pre-2015 ussued dollars, guess where all that premium you invested goes to?
IMO, numismatic value is a ponzi scheme. And I happily joined in, due to the limited entry fee (extra premium over a more basic product). With the ASE, the low mintage and collectibility are just not there.
Sure, a 1992 Eagle will be appreciated with a $10 premium or so, and probably forever so. But what if silver is $100? Good luck with that $10, you should have bought ounces rather than premium before silver got revalued. When silver is $100+, premium coin will present LOSS. A private round will outperform a premium coin during steep increases in price, is what I’ve learned from others. And that makes sense.
Example, I have some 2011 Koala’s which now retail for €35 and up. 2013 Koala’s are around €18-19. So €16 of collected premium in just over 2 years time, actually about the cost of a Philharmoniker. I should get rid of the Koala, and swap it for 2x Philharmoniker, or 1x Phil and 1x ’13 Koala. Because at silver= $100, will the Koala quintuple in value? No way José! When a 2020 Koala retails for €100, the 2011 will sell for €120 at most. Or 1.2oz. When I could be holding 2 real ounces.
We stackers all howl at the moon, expecting a parabolic rise in silver. But we better hope it doesn’t arrive before we’ve found a greater fool to take our premium coins off our hands. Premium does really well in a bear market. Look at the at 2011 Koala. Same goes for a 2012 Elephant. In one year less, it brought me the same performance. Almost doubled in retail value, not necessarily what I’ll manage to get for it of course. retailing at €35 I am trying to unload for €30. I’ll take a 50-60% gain over 1.5 years, thankyouverymuch. But need to make sure I reinvest in extra ounces. New semi-numis are hardly a risk when the premium is bought from earlier premium profits, perhaps we can do this trick once more, or even twice or trice before silver really takes off and premium dies forever.
Premium is a ponzi, and therefor is dependant on newcomers coming in. They are not coming in right now. And will the anticipated inflow of johnnycomelatelies consists of numi lovers, or just bars stackers? The success of series such as SBSS and Zombucks indicate that the next generation may not be lusting over cuddly animals on coins. Yes, nice coins could go out of style.
My stack is now largely semi-numi, in part due to (quickly dying under EU leadership) VAT reasons specific to Europe. I use my modern numi’s (low premium, nothing crazier than Lunar II) to expand my stack through great effort. But I fully realize it’s a temporary affair. 5-10% of my stack is invested in this ponzi scheme. Having a wide variety helps me satisfy more co-stackers in their quest for variety and collecting.
Waaaay back when, President Carter put America on the road to adopting the metric system. But when Ronald Reagan – who many people today mistakenly idolize – became President, since his pea-sized brain could not comprehend the metric system, he eliminated the government funding which was moving America in that direction.
The incoming Reagan Administration also tore down the photovoltaic panels from the White House roof. Whilst I think many of the things done in the 80′s were worthwhile, IMO that was just petty. Symbolic for the oil companies most likely…
I never understood the facination with Reagan. He liquidated the Strategic Silver Reserve, which suppressed prices for decades, AND it was Reagan who made it attractive for manufacturing jobs to be shipped overseas
This relates to the local coin store (jewelry shop, actually) and not to a pawn shop, but I didn’t know where else to share this:
Today’s LCS report:
I just telephoned the local coin seller. He said he is actually out of everything; he complained he can no longer purchase ‘Junk Silver’ without having to pay a premium over spot. Said there are a couple of estates he is waiting on, but for now he is completely cleaned out.
" Decent price, never heard of the brand, but made in China. I use these, little higher in price but a USA manufacturer who also has a plant in China so it likely is chinese made but to a higher specification http://www.solarblvd.com/Solar-Panels-&-Systems-12-Volt-Solar-Panels/c1_269/p2711/Two-... "Reply To: FANTASIC DEAL***** 150W SOLAR PANEL
" I am curious why so many people who likely make up not even a rounding error in the total silver market believe that they know more about Silvers true value than the big sellers and buyers of physical silver who seem not to be complaining. If you buy, the price is. fair to you. If you believe ... "Reply To: Silver Shortage
" RRG I will clink to that link and forward it to some of my prepper and solar homies
I think that UndeRGRound and EdB are advocates. Maybe Mammoth
I have some friends out in the boonies that might be interested thanks for the connection "Reply To: FANTASIC DEAL***** 150W SOLAR PANEL
" A good buddy of mine went "all in" on silver literally at the top. I mean he actually bought a boat load of SLV @ $49 thinking that it was on it's way to $60 which at the time many market pundits were claiming the same thing. He was also a stacker but he was trying to hit a homerun by leveraging ... "Reply To: Silver Sentiment Overly Negative. Bottom in Sight Finally?
" It`s like this. New investors in metals are looking to make fast cash. It seldom if ever works that way. These are the trend jumpers. They become fatigued quickly. Most very quickly. Then they cry, and cry and cry. others listen to the crying, and get shaky on thier own investment. They begin to ... "Reply To: Silver Sentiment Overly Negative. Bottom in Sight Finally?
" We will soon be coming out of the summer lull, let's see if prices pick up in the fall.
As long as investors and stackers follow the old adage, "Don't put all your eggs in one basket," they will be alright. I recently picked up a $100 face-value bag of Walking Liberty Halves for just a few do... "Reply To: Silver Sentiment Overly Negative. Bottom in Sight Finally?
" I was trying to hope that with the departure of Duetsche Bank , the new silver "FIX" would lead to a new price discovery mechanism and move to reflecting the true price of silver. This I fear has not come to pass.
We are now faced with a continuation of the charade of three banking ... "Reply To: Silver Shortage
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