What to pay over spot?
 

How do guys figure out what you should pay at a dealer, over spot? I know when I finally get to a dealer, Im not gonna know how much over spot I should be paying max.

I am looking for 90% silver, coins and bars. Any help would be great! Thanks.

Re: What to pay over spot?
 

here's a pretty good reference
for silver values for dollars-quarters-dimes

Silver Coin Value Guide

as to how much to pay over spot
you're going to have to make a " gut feeling " for this
the bigger silver purchase you make, the closer to spot you should get

Re: What to pay over spot?
 

From a local dealer, you should be in this range:
90% silver= near spot (+/- 2%)
silver rounds/bars= spot plus $0.30 to $1.00
SA Eagles= spot plus $1 to $3

You might have to pay on the high end of this range when there has just been a significant spot price dip, as they're not going to let it go too cheaply. These will be higher than on-line prices, but 1) no shipping charges, and 2) your dealer has to make a living on a smaller volume scale, and this is the premium you pay for local convenience. Don't bicker over price; if it's way out of line, you don't want to be buying there. If it's reasonable, you don't want to spoil the relationship by haggling over pennies or nickels. If you get quoted a price on the high end, respond with "How much if I buy xx more ounces?" That will give him the opportunity to give you a little price break, while not feeling like he's being pushed around. The more transactions you make, the less you will pay, and the more you will get when you go to sell.

Re: What to pay over spot?
 

and always let the seller know that you have cash-in-hand
and if the price seems a bit high, ask them who covers the tax ?
every little bit helps

Re: What to pay over spot?
 

Thank you both for your advice!!

I just got back from the dealer. Some old, senile guy who runs the place. I asked to see 1 oz silver bars, and he pulled out a wooden box with a bunch of one ounce bars that were mostly damaged because of them being loose in the box and most of the edges were chipped/dented.

He wanted $3.75 over spot for a SAE, so I declined that, and asked to see any other rounds he had. He pulled out another loose box of rounds, and I found one beautiful piece sitting in the box, in a hard plastic coin holder. It is an Engelhard "The American Prospector" 1oz round. Its very nice, and I got it for $18, about .75 cents over spot.

I am so excited, this is my first PM purchase! :s9:

Thank you all for your help so far!

Re: What to pay over spot?
 

I like that Prospecter coin.. Congrats!
BTW... SAE's are going up in the spread they sell for.
I wouldn't be suprised if most dates will be going for at least $25 when silver reaches $20.

Re: What to pay over spot?
 

Congratulations! The Prospector is a beautiful piece, and one of the most popular and desired bullion rounds.

Feels great in your hand, doesn't it? Now you need another one to bang it against so you can enjoy that distinctive silver "Clink"!

Re: What to pay over spot?
 

GOOD BUY !!!

if you take your time, you can find the deals

Re: What to pay over spot?
 

TLM is right; $2 to $4 over spot may now be a more reasonable range for SAE, especially for singles. Also, expect to pay a little more for older years, as they have some collectible value by year.