Coin Show
 

Hey guys this is my first post, although I have lurked a while. Recently, I went to a coin show ( last Saturday), I bought a small amount of gold and silver. I would like to know how I did? as I'm a newbie. Any advice or comments would be highly appreciated. I bought circulated SAEs at 18.45 a piece, no tax and Uncirculated U.S. mint SAEs for 20.00 even. The spot was 17.88, so I was a little discouraged, and felt like I got scammed a little because I'm new and paid so much over spot. I also bought a (1) Krugerrand coin for 941 ( I think), Spot must have been 930 +. What a ugly reddish little coin. I wanted a gold American Buffalo or Gold American Eagle, they're so yellow and so beautiful. But premium over spot was ridiculous, and I could buy more silver with the Kruger purchase. Now for your feedback and advice for my next buying spree. Thanks! I love you all, and thanks for this community. I would be lost without you.

Re: Coin Show
 

Hi, I'm a new member here too but not really new to metals. You paid a pretty decent price at the time on the eagles, you weren't ripped off by any means.

A lot of people advise for people to worry about ounces at the begining of your stack then worry about premium stuff later. Just like you did with your gold, you could have bought generic rounds/bars and got more ounces out of it.

I think you should collect whatever you like, your stack will progress as time goes on. For me personally, I get both premium stuff that I love (and dont plan on giving up) and generic stuff to sell if it hits the mark that I'm looking for.

GL!

Re: Coin Show
 

Both gold and silver were purchased at reasonable spreads, no outright scam.

Re: Coin Show
 

Thanks Guys,

Good advice and I appreciate it. I think I'm sticking to SAE, but I would like to have some Silver dollars (90%) or halves (90%) if I can get em at a good price, otherwise SAE all the way. On Gold, I hate those red krugers, would love some nice yellow buffaloes, but just can't pay the premium right now!

Re: Coin Show
 

SilverSalmon - if you want nice yellow gold at a lower premium, you can always look at Austrian Ducats, in 1 or 4 Ducat denominations. IIRC they are around .987 pure. Really, nothing shines like 24K though, older Canadian Maple Leafs can occasionally be had for a good deal (the .999 variety as opposed to the newer 4 and 5 nines varieties).

I've been hearing stories that dealers are asking - and getting - $20+ for Maples and ASE's lately around here, so you certainly aren't being gouged. Outside of the big, big players in the PM retail world, I think the spot price is somewhat lagging behind what people are actually paying on a day-to-day basis.

Re: Coin Show
 

You didn't get gouged or anything, but maybe not the best deals you could have gotten. I shoot for about $1 to maybe $1.50 over spot for uncirculated SAEs, and about $7 over spot for Krugs. But those are what I consider GOOD, actually very good prices, and usually take some looking around or haggling or having a good relationship with a dealer as a repeat customer. But to me, looking around coin shows hunting for deals is half the fun!