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Curious, does your LCS give quotes over the phone for their buy and sell prices? There was a time when I would call up one and get one price and then find in person a different price, which was not a culprit of spot fluctuation but more the caprice of premium changes. Since then, not sure if LCS get more protective of quoting prices, especially if they think you are shopping competing deals.

I have one dedicated coin store in the area that gives out prices over the phone all the time. All sell prices quoted are based on Spot + $X.XX and change based on Quantity/Amount purchased. Same for the buy prices only its Spot - $X.XX

They take the spot price from the internet right when you call or right when you walk in the door for quotes. In my experience, the price in person matches with the phone quote based on premiums, only fluctuating based on spot price.

I buy and sell silver locally through kijiji and have 3 or 4 others guys that buy/sell as well. I call them up every few months and pretend I have some to sell. I haggle a little and it gives an idea of what discount they buy at, and also how much they are asking for a premium to sell. We have no LCS, but i consider this the closest thing. I know one fella runs our only pawn shop.

No my LCS does not give quotes on buying because sometimes people dont know what they have. However he will quote his sell prices on certain items excluding the pricey collector coins. He is fair in all his dealings with the public he is close to 80 and is a wealth of knowledge.

almost all the lcs in my area will give a quote qon the phone but it all depends on spot once you're in the store- I always call around though cause premiums are always changing in my area

Yes, and no.

For gold or silver eagles (or similar marked bullion)...yes.

For 90%, no. They have a range of pricing depending on condition. He's one of these, "there's no such thing as junk silver" types.

Big fat nope from my LCS. And he usually sounds angry that I would ask. Needless to say, I don't ask anymore. What's the big deal?

silverflake wrote:Big fat nope from my LCS. And he usually sounds angry that I would ask. Needless to say, I don't ask anymore. What's the big deal?

Usually their line of thinking is why give you info to take to somebody else so they can undercut the quote by a nickel and you go to them, or go over their buy quote for the same results. I'm not saying it's right or wrong, but the real trick when you get a customer on the phone is to get them into your store, not give them info to cut your knees off.

The one shop will quote over the phone an with your name will hold until you arrive but thats always a crap shoot as the spot could also go down.

I usually just call to confirm product in stock as its 18 miles to LCS that also requires name to hold when they are short of stock

Smallest spread has been on .999

PeacePeople wrote:

silverflake wrote:Big fat nope from my LCS. And he usually sounds angry that I would ask. Needless to say, I don't ask anymore. What's the big deal?

Usually their line of thinking is why give you info to take to somebody else so they can undercut the quote by a nickel and you go to them, or go over their buy quote for the same results. I'm not saying it's right or wrong, but the real trick when you get a customer on the phone is to get them into your store, not give them info to cut your knees off.

They have every right to be that way, but it seems like bad business to me. What other type of merchant would do that? Not tell you their prices because you might go somewhere cheaper? It seems childish to me.

My LCS does answer prices over the phone, and it's a good thing they do because my business is dependent upon not wasting my time.