Premium on ASEs

[Goof]

My LCS WAS $5 over spot. Now it seems it's either 6 or 7 (I forget which) And $8 for 1996's.

[agmoose]

My LCS WAS $5 over spot. Now it seems it's either 6 or 7 (I forget which) And $8 for 1996's.

Wow. That is pretty high.

[Goof]

$3 over spot is for generic rounds and bars. Only plus is any non Maple Leaf or ASE is considered generic. And I got a Kook the other day for $5 over. Sooo, I guess I just have to look out for stuff that sells at higher premium and get THAT at my LCS is anything.

[beauanderos]

[youtube]http://www.youtube.com/watch?feature=player_embedded&v=jiUN-j4QlTk[/youtube] http://www.youtube.com/watch?feature=player_embedded&v=jiUN-j4QlTk

good explanation of premiums

[SilverDragon72]

Ok, get THIS one!!!

I visited a smaller LCS in the Madison/Monona WI area today, just to see what kind of silver he had....well, I began by asking him how much for a silver eagle...and he comes back with a price of $45.00

This eagle was nothing special, just a regular 1 ounce coin. I asked him how can he charge more than 15 over spot for an ASE. He replied that they are hard to get in any kind of large quantity and that he didn't really
want to sell ANY silver that he had....I'm like....seriously? I told him that I just bought a single ASE on the other side of town for just 2 bucks over spot (2009) and again asked him how can he price one of his at such a
high premium? I asked him how much he would BUY one for, and he couldn't even quote me a price!? Like what kind of money would I be asking for? Wow.

I asked if he had any Englehard bars....yes, but only for like 45+...

Silver is not that short in supply yet to get raked over the coals, you know? Why would anyone who owns a business do such a foolish thing?

Con artist? I am sure of it! A used car salesman in the realm of PMs!!

[beauanderos]

Ok, get THIS one!!!

I visited a smaller LCS in the Madison/Monona WI area today, just to see what kind of silver he had....well, I began by asking him how much for a silver eagle...and he comes back with a price of $45.00

This eagle was nothing special, just a regular 1 ounce coin. I asked him how can he charge more than 15 over spot for an ASE. He replied that they are hard to get in any kind of large quantity and that he didn't really
want to sell ANY silver that he had....I'm like....seriously? I told him that I just bought a single ASE on the other side of town for just 2 bucks over spot (2009) and again asked him how can he price one of his at such a
high premium? I asked him how much he would BUY one for, and he couldn't even quote me a price!? Like what kind of money would I be asking for? Wow.

I asked if he had any Englehard bars....yes, but only for like 45+...

Silver is not that short in supply yet to get raked over the coals, you know? Why would anyone who owns a business do such a foolish thing?

Con artist? I am sure of it! A used car salesman in the realm of PMs!!

you know the curious thing? People take actions that seem foolish to others, but that are based on their own logic... and in their thinking it's rational. And his pricing is reinforced, or has been by a few buyers already... or he wouldn't price the way he does. Those may be the last few he has that he had paid $40 for... and he has a business to keep up the overhead on. Shop at the other place, for sure, but maybe don't be so swift to label him a charlatan until you walk a mile in his shoes.

[Engineer]

Silver is not that short in supply yet to get raked over the coals, you know? Why would anyone who owns a business do such a foolish thing?

Con artist? I am sure of it! A used car salesman in the realm of PMs!!

Desperation or greed are my two guesses. He may have bought a bunch at too high of a price and is trying to recoup his paper losses...or he could be a con artist as you say.

My local shops are nearly as bad. Every time I ask their buy and sell prices on junk, they're looking for a 50% margin.

[everything]

I've been to that coin shop in Monona, they actually have two on that road, one is a buy/sell shop the other is a jewelry/coin shop.
I won't buy from either, get way better prices here on realcent or BS. The one guy at the jewelry place, I've gotten to know him but he's kind of cranky, with him, you have to push back a little. I don't know if he has bought more ASE but his last monster box or however many he has from last year he told me he paid $35/oz. for them. I think many LCS know many buyers have left for the online dealers, they don't like it, they know they can't compete. I like going to the LCS and visiting with the owners, trying to get to know them, and maybe buy a little something, the friendlier they are, the more I'll stop in, eventually they seem to offer you better deals, but not all of them are like that. The other buy/sell shop I pointed out something seemed priced low, well, lol, next time I went in it was re-priced..

[OneBiteAtATime]

Thats a very good deal!

Tulving is selling them for $2.59 Each in 500 oz boxes. Heck I cant think of anywhere you can get any kind of 999 for $3 let alone SAE!

If my LCS reads this they'll stop selling them to me at $2 over......

$2.50 over now.... but still....

[SilverDragon72]

I've been to that coin shop in Monona, they actually have two on that road, one is a buy/sell shop the other is a jewelry/coin shop.
I won't buy from either, get way better prices here on realcent or BS. The one guy at the jewelry place, I've gotten to know him but he's kind of cranky, with him, you have to push back a little. I don't know if he has bought more ASE but his last monster box or however many he has from last year he told me he paid $35/oz. for them. I think many LCS know many buyers have left for the online dealers, they don't like it, they know they can't compete. I like going to the LCS and visiting with the owners, trying to get to know them, and maybe buy a little something, the friendlier they are, the more I'll stop in, eventually they seem to offer you better deals, but not all of them are like that. The other buy/sell shop I pointed out something seemed priced low, well, lol, next time I went in it was re-priced..

Yep, it's the little shop in Monona, not Capital city coins. The owner of the place was friendly enough, but to charge anyone that kind of premium is ridiculous. $45 dollars for an ASE that is normal is just plain crazy. I saw another one (a 1997 ASE) that was "on sale" in there for $100. Are you kidding me? It wasn't even a proof!

[SilverDragon72]

Ok, get THIS one!!!

I visited a smaller LCS in the Madison/Monona WI area today, just to see what kind of silver he had....well, I began by asking him how much for a silver eagle...and he comes back with a price of $45.00

This eagle was nothing special, just a regular 1 ounce coin. I asked him how can he charge more than 15 over spot for an ASE. He replied that they are hard to get in any kind of large quantity and that he didn't really
want to sell ANY silver that he had....I'm like....seriously? I told him that I just bought a single ASE on the other side of town for just 2 bucks over spot (2009) and again asked him how can he price one of his at such a
high premium? I asked him how much he would BUY one for, and he couldn't even quote me a price!? Like what kind of money would I be asking for? Wow.

I asked if he had any Englehard bars....yes, but only for like 45+...

Silver is not that short in supply yet to get raked over the coals, you know? Why would anyone who owns a business do such a foolish thing?

Con artist? I am sure of it! A used car salesman in the realm of PMs!!

you know the curious thing? People take actions that seem foolish to others, but that are based on their own logic... and in their thinking it's rational. And his pricing is reinforced, or has been by a few buyers already... or he wouldn't price the way he does. Those may be the last few he has that he had paid $40 for... and he has a business to keep up the overhead on. Shop at the other place, for sure, but maybe don't be so swift to label him a charlatan until you walk a mile in his shoes.

That may be true, but I also told him about how I have NO difficulty at all getting silver at various places around town, and online. I'm not saying he wasn't friendly or anything, but I feel that he was trying to take me for a ride, but I wasn't biting. I spent almost a half an hour in there, chatting with him about silver. I even told him that he could order silver online in bulk. I was just pointing it out to him as a favor. He was trying to say that doing that would take a few weeks to get any substantial amount.

I wasn't trying to give him a hard time, just pointing out some experiences I've had with silver. I even told him that I belong to an online coin and precious metals forum....and no, he doesn't know what it's called!

We must not give away our position, right??

[beauanderos]

too bad Walmart doesn't have a coin department in each store.

[fathead]

best to buy in bulk from a place like provident metals when they have a sale.

i've seen it for $2.39 over spot.

i think any premium over $3 is too much to pay.

[KCBob31.1]

I bought a few 2013 today at mine for +3.50. Other years are usually +2.00.