ASE

[Darth Walker]

Coin dealer in my area sells to the public American Silver Eagles at Kitco ask plus $6. But buys from the public at just $1.50 over Kitco ask. This is a rip off. It is not good to sell today ASE.

 

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[TheMastermind]

That's why I call around to see who's selling at the best price before heading out to buy. But, I'm lucky in that I have a ton of coin shops in my area.

 

[Oquario79]

Yeah I'm not that lucky with coin shops.. We have 2 and both always sell everything way over priced and they have banking hours.. 10-5 or so.

 

[mAGma]

Your Local Coin dealer tries to make a profit with his business Imagine the nerve

 

[mxh5891]

Check around online..you can find some decent deals. I buy from jmbullion.com sometimes and have been happy with them.

 

[GlenDronach]

That's not as bad of a spread as I'd think. I'd expect them to buy at spot or even a little below. They need to eat too. $4.50 a coin isn't too bad for a local brick & mortar.

Check APMEX though, they have sell and ask prices posted.

 

[Cobbolicious]

In fact, that's better than APMEX atm, which is selling silver eagles at roughly $7.00 over spot ask ($22.16 versus $15.17) and buying at $2.50 over spot bid ($17.57 vs. $15.07)--a buy/sell spread of $4.50: APMEX Silver Eagles | Buy Silver Coins Online. Part of it is just that supply in the (real) silver market is tight right now.

 

[Greastart]

They need to eat too. $4.50 a coin isn't too bad for a local brick & mortar.

Accord, I believe we're generally on opposite ends of the political spectrum. However, as a retail business owner with a brick and mortar store, I must say, You are spot on here! Thank You!

People, if you like any small retailers, abandon Amazon, or the net and patronize those businesses or it won't be long before brick and mortar stores cease to exist!

 

[TheMastermind]

People, if you like any small retailers, abandon Amazon, or the net and patronize those businesses or it won't be long before brick and mortar stores cease to exist!

Off topic, but, I am of the opinion that brick and mortar stores will never cease to exist. Not with instant gratification being so ingrained in the current and up-and-coming generations. If someone wants or needs something badly enough, they aren't going to wait even just one day to have it delivered. They are going to go out and get it when they want or need it.

 

[Greastart]

MM, You're correct. Not all physical stores will disappear. However, as market share loss and margin erosion make it more difficult to actually make a living, people like me are simply going to say enough.

 

[Avago]

Off topic, but, I am of the opinion that brick and mortar stores will never cease to exist. Not with instant gratification being so ingrained in the current and up-and-coming generations. If someone wants or needs something badly enough, they aren't going to wait even just one day to have it delivered. They are going to go out and get it when they want or need it.

Not sure if you've seen, but Amazon is trying out ONE-HOUR delivery in LA. It's called Amazon Prime Now.

Isn't that insane?

 

[Diggin-N-Dumps]

Not sure if you've seen, but Amazon is trying out ONE-HOUR delivery in LA. It's called Amazon Prime Now.

Isn't that insane?

I just had some stuff delivered from it..its pretty awesome..there was a 15 dollar min. But totally worth it!

it does help that the Amazon Dist. is on the same street as my job lol

 

[LooseChange]

To those being critical of OP, I didn't see it as a criticism of the retailer so much as an observation regarding timing to sell ASE's.

... It is not good to sell today ASE.

We all know that when spot dips, premiums (and/or spread) swell. Hold.

 

[GlenDronach]

Accord, I believe we're generally on opposite ends of the political spectrum. However, as a retail business owner with a brick and mortar store, I must say, You are spot on here! Thank You!

People, if you like any small retailers, abandon Amazon, or the net and patronize those businesses or it won't be long before brick and mortar stores cease to exist!

No problem! I try to buy local and locally owned instead of buying from big companies.

Plus you have that coin in your hand instead of wondering if and when it will come! Pay cash and forget about it...we've had some mailbox thefts in our city recently.

 

[TheMastermind]

Not sure if you've seen, but Amazon is trying out ONE-HOUR delivery in LA. It's called Amazon Prime Now.

Isn't that insane?

Oh, damn, really? I haven't seen or heard anything about that.

 

[Nitric]

That's not too terrible....for a few coins. If you talk to them and are selling to them or buying in large quantity, they will deal with you usually. He can't make any money if he buys and sells just a few....They have bills to pay too.Rent,taxes,utilities,etc.......

I see these kind of complaints in other forums and have this argument with friends often, I use to think the same way. as an example....Just think of what it cost to run your household every month. Now, how many coins at that profit margin would you have to sell just to break even? That dealer has to move some volume just to make bills, before he can even pay himself anything.

 

[Nitric]

MM, You're correct. Not all physical stores will disappear. However, as market share loss and margin erosion make it more difficult to actually make a living, people like me are simply going to say enough.

Some will stay, the guys with money to play as a hobby. But the profit margins are so small anymore, you have to have deep pockets and move serious volume. Plus other reasons I beat to death already in another thread.

That and you do get a lot of "impulse" buys. That was fading too.... I use to actually give kids coins, if they were young and really looking at something hard, and I didn't have much in it I'd give it to them. Not, because I'm a nice guy! It's good advertising and it also sparks future interest of person to person dealing(well, your buying it in a way! lol).That's what the tubs of world coins are good for too. I probably gave away more wheats than I sold, to kids trying to fill their wheat books.

These past few threads are actually sparking my interest again, in trying to do something again! I'm just a few years behind in pricing and the actual market. OOOOhhh The shallow pocket is an issue too!