1 vote

Buying Silver Eagles Question

I was looking for advice in buying silver eagles from my local coin dealer. My question is..He is selling silver eagles in circulated condition for 3.50 over spot price. He said he can get me as many as I want. 31.40 each as of this minute a piece. Is 3.50 over spot a good price for them? I got a dozen from him before so I know they are good but cant remember what the price over spot was then. Anyadvice would be great.

Steve

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Quick search online shows this is decent price for a small quantity purchase. Online prices are a bit lower, but you have to figure in shipping.

Seems a decent deal. Like the other posters said, shop around a little bit more in your town if possible, or negotiate with the owner for a quantity discount.

Pay in cash.

When a true genius appears in the world, you may know him by this sign: that the dunces are all in confederacy against him. ~J. Swift

Buy silver here.

SCPM has great prices all day long for a ton of wild stuff. They've got gold bullion coins, old "junk gold" coins, and their US gold coins ($20 gold pieces and stuff) are NOT much more than spot (if you get "raw gold" instead of MS rated coins).

http://www.scpm.com/bullion.php

Silver Eagles are always going to be the most expensive way to buy metal, check out the other 1 oz rounds. I see some for 29.13, or about a dollar over spot.

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

Just stopped at the coin shop

For the entire last month, the coin shop I usually go to has been out of impaired eagles which they charge $2.25 over spot for. My secondary coin shop has also been out.

There are slim pickings for other minted silver products and huge premiums on just about anything new. The minted silver bins have been pretty much empty, all 90% junk silver dollars were gone.

Don't you wish

You could've bought Bitcoins for $30?

You still can.

It's called silver.

31.50

Is a bargain for an ounce of U.S. minted silver.

Very soon you won't be able to buy them at any price.

Stack what you can, while your Benny Bucks still have value...and while silver is at the bottom of the trend channel of the last 2 years. Physical demand is astronomically high. Very soon the riggers lose control.

Stack all you can, while you can.

I don't mean to make you paranoid, but

my question might.

With a digital printing press at your disposal, how easy would it be to generate a short squeeze in any market?

When I buy these things, I ask myself, "How much purchasing power did I just preserve?"

Do you believe the Federal Reserve Note is a good store of value?

Buy low, sell high. A silver eagle still has to be manufactured. Does the spot price represent raw materials, or refined products?

Buy Silver NOW!

Buy Silver NOW!

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

yes but

not in circulated condition for 3.50 over spot price.

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http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

Silver is silver.

Even if in circulated condition or not, the silver content doesn't change, so it will always be worth at least that.

Why Not Advertise?

Place an add on Craigslist that you want silver dollars and will pay spot prices. Some people would prefer to sell to you than to a dealer offering less.

That's 13%

of spot price, seems kinda high. Ask if he can make you a deal with the more you buy, perhaps 7.5% if you buy 20. If my coin dealer had that high of a premium I would just laugh and then ask for constitutional silver.

“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James

Silver

You are paying a high premium.

10% of $28.00/oz is $2.80

10% is a high yet fair premium.
I suggest shopping around. Go for 5% $1.40 especially if you are buying in bulk.

Rambo