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What do your local dealers pay for 90%?

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What do your local dealers pay for 90%?

Postby Engineer » Fri Jan 27, 2012 12:51 am

I know you can do a lot better online, but I'm wondering what most local dealers are offering for 90% coins.

In my area, they all seem to be paying around 2/3 of melt for cash deals. Is that pretty average?
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Re: What do your local dealers pay for 90%?

Postby misteroman » Fri Jan 27, 2012 9:13 am

wow some scammers in your town!!!!! You should be able to clean up around there. In WNY they pay around 80-85% spot.
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Re: What do your local dealers pay for 90%?

Postby mr18 » Fri Jan 27, 2012 9:41 am

I have never sold to the dealers but i always here what they pay, whether its over the phone or a walk-in customer asking the question. currently it is between 16-18X.
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Re: What do your local dealers pay for 90%?

Postby tbram88 » Fri Jan 27, 2012 10:01 am

My LCS buys at 1.5X under and sells at 1.5X over current spot.

I have bought 90% from them and two weeks later sold it back to them for more.

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Re: What do your local dealers pay for 90%?

Postby Bluegill » Fri Jan 27, 2012 10:48 am

Although it varies some, most of the dealers in my area buy at 2-3X under. Several of them then sell at 1x over.

There is one out of area dealer that comes up from IN and sets up at the local coin shows several times a year that has fair spreads. He buys at 2x under and sells at spot. Also usually has the best buy prices on .999, War Nicks, 40%, and Cdn 50% and 80%.
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Re: What do your local dealers pay for 90%?

Postby newton7 » Fri Jan 27, 2012 12:10 pm

Buys at 1 dollar under and sells at spot at my LCS that I buy from.
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Re: What do your local dealers pay for 90%?

Postby IdahoCopper » Fri Jan 27, 2012 12:15 pm

When I've got extra FRNs I put an ad on craigslist offering 90% of spot for 90% US coins and 1oz Ag rounds.

I get calls from people wanting to sell anywhere from 5 to 50 coins.

Its nice to get a few Morgans and ASEs for 90% of spot.
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Re: What do your local dealers pay for 90%?

Postby jacer333 » Fri Jan 27, 2012 1:24 pm

newton7 wrote:Buys at 1 dollar under and sells at spot at my LCS that I buy from.


Nice! 8-)
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Re: What do your local dealers pay for 90%?

Postby Engineer » Fri Jan 27, 2012 4:59 pm

Thanks everyone. I thought the local dealers were ripping everyone off.

My last buy off Craigslist the guy seemed happy to get 5/6 of the melt value. I didn't complain :)
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Re: What do your local dealers pay for 90%?

Postby Hades12 » Fri Jan 27, 2012 7:34 pm

everyone around here pays about 75% of spot. My guy sales them back to me at 90% of spot.
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Re: What do your local dealers pay for 90%?

Postby pennypicker » Fri Jan 27, 2012 7:48 pm

Back when silver was $34.50 my local coin shop was selling 90% at 25x face and buying at 23 x face--a small spread indeed! But then again he does a tremendous volume.
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Re: What do your local dealers pay for 90%?

Postby bankmining » Fri Jan 27, 2012 8:43 pm

My LCS always sells at spot and buys 10% under. For 40% junk he sells at 5% under spot and buys at 15% under, seems pretty fair to me.
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