Shocked at silver premiums at local coin show

[Pennysaved]

I went to a local coin show yesterday and was shocked by the premiums dealers were asking for

One booth had 5% above spot for junk

One booth was asking 26x face and $1.90 each for war nickels

One booth was asking $37.50 each for Silver eagles

I found only one booth that was asking melt and picked up some Barber halves

I did score some $4 silver quarters and an $8 1964 silver half at one booth; he actually told me I got him on those; he said he thought he had went through and updated all the prices

[999Ni]

its happening people......

PREPARE to open those pockets WIDE.

everybody's jumpin aboard.

EDIT: afterthought

[Sheikh_yer_Bu'Tay]

I went to a local coin show yesterday and was shocked by the premiums dealers were asking for

One booth had 5% above spot for junk

One booth was asking 26x face and $1.90 each for war nickels

One booth was asking $37.50 each for Silver eagles

I found only one booth that was asking melt and picked up some Barber halves

I did score some $4 silver quarters and an $8 1964 silver half at one booth; he actually told me I got him on those; he said he thought he had went through and updated all the prices

Lucky you! Those prices are rapidly fading away in the rear view mirror. It has been a couple of years since I bought Barber halves and I thought I was getting ripped off at 9x face. Looking at feeBay, it looks like $37.50 is now the norm for ASE's.

[Thogey]

Goldline in specifically advertising silver.

The end is near.

[Pennysaved]

Goldline in specifically advertising silver.

The end is near.

when you say the end is near; do you mean affordable silver?

[Thogey]

That, and the end of negotiable US currency.

[AGCoinHunter]

That, and the end of negotiable US currency.

Must stack more...must stack more...must...

[wagsthadog]

Hi there-

Don't forget- ...ASKING 26Xface....
...ASKING 37.50 per eagle...

Don't be afraid to ask if they can do better on prices. You can be tactful about it, and they can refuse, or course, but you can still get spot for many things if you sharpen your skills.

JMO wags

[traderchowder]

I bought a silver eagle off a guy downtown the other day and it was $35+. I had been waiting for a bigger dip, but when it went to $32 last week I just thought what the hell I'll get an ounce to quell my jones.. er I mean continue dollar cost averaging.

Anyway, when the clerk told me the price he said it in such a way that it seemed he thought I was going to decline the purchase. It was like a statement-question, "That will be $35.50???". As if he himself couldn't believe he was moving ASE's at that price. I knew the premium was on the steep end but decided not to care about that for this particular purchase.

[68Camaro]

The price run up is such that i suppose it creates sticker shock even for sellers.

If you were buying ASEs at $20 just a few months ago, selling them at $35 may seem surreal!

[Pennysaved]

Well to be honest Wags I wasn't looking to buy a bunch of junk silver; I would rather sort for it

Most of those prices I overheard the dealer telling people who were asking.

I am a yard sale junkie so I know how to haggle if I want/need to

I just wanted to see what the prices were like and was on the lookout to buy silver below spot like the $4 silver quarters and the $8 half; cant beat those deals

I was surprised no one else caught on to those being below spot; I didn't go until 1PM and the show had started at 9AM (went later because I was out dumping all my halves in the AM