Silver coins from my dealer
 

I stopped into my local bullion dealers shop today, and asked about 1 ounce silver coins.
He was telling me that silver maples and eagle are $20, no tax. Englehard and JM 1 ounce wafers are $18 or $19. (Can't remember what he said exactly, bu t I remember they were cheaper.)
That is over a $3 spread on the premium coins, and I was wondering if that seems right to you guys.
Feedback?

Re: Silver coins from my dealer
 

That's high, unless there is sales tax applied in your state and he was counting that.

In MN (where the inlaws are), there is sales tax and the closest dealer sells at spot + $1.00 for all rounds. That's $17.75 * 1.07 = $19.00 pretty much right on the button.

If there isn't tax, he's ripping you off (I live in IA, near the MN border and there isn't a bullion tax here).

Re: Silver coins from my dealer
 

That would seem about right to me. Infact, the coin shop near me might even be just a little higher, I have not looked in awhile, at these prices.

I have said for a long time, there is a big disconnect between spot and what you can get eagles for. Maples would probably be higher down here in Houston....they usually are.

Re: Silver coins from my dealer
 

Wow, I actually just did some calculations based on my last order from Kitco.
I bought some eagles at $19.02, and divided the shipping equally.
Basically per coin I paid $22.02 per coin, so I guees I will buy locally from here on out.

Re: Silver coins from my dealer
 

You talking US or Canadian dollars? There may not be much difference these days, what is current exchange?

Re: Silver coins from my dealer
 

YEP....shipping is what kills you. Most people want to believe they are getting a better deal, but if they are honest and break it down with shipping included, they are paying just as much....

Also knowing your local dealer can be a good thing. Now with ebay fixing to change the feedback rules, I think I will use it only when I get ready to sell something. No more buying for me from there.

So it seems my options keep getting smaller as the price rises. glad I have what I have, even though it isn't anywhere near what I would have like to have gotten at this point. But, none the less, I am thankful for what I've got.

Re: Silver coins from my dealer
 

Canadian.
Exchange is almost at par, mnost of the time right now.

Re: Silver coins from my dealer
 

"...YEP....shipping is what kills you. Most people want to believe they are getting a better deal, but if they are honest and break it down with shipping included, they are paying just as much...."

And are paving a permanent e &/or paper trail straight to their door.

Re: Silver coins from my dealer
 

You should call like 3 or more dealers and ask what there spread is over silver, tell them your calling all the dealers in the area so that will force the dealer will be competitive.

Re: Silver coins from my dealer
 

double bump!!!!..............just get it from a local shop

T

Re: Silver coins from my dealer
 

Hehe... I wish. There are no other dealers in the area, I believe. I'll have to look into that to be sure.

Re: Silver coins from my dealer
 

You must not have bought very many and/or paid with credit card.
Max shipping is $20 if you don't use credit card.

Re: Silver coins from my dealer
 

For some reason I have APMEX on the brain and thought your were
talking about them. If you bought through kitco then yeah ....

Re: Silver coins from my dealer
 

Yeah, Kitco. Apmex willnot ship internationally for some frigging retarded reason.

Re: Silver coins from my dealer
 

Try finding a Canadian company that does business with Quebec residents. Damn near everyone has "Not applicable in Quebec" stamped all over their sales brochures.

Re: Silver coins from my dealer
 

If you are ever in the neighborhood of Williams Coin on Bay Area Blvd., they have sold silver Maples to me at ninety cents to a dollar over spot several times in the past.

Re: Silver coins from my dealer
 

Umm, Kitco's Canadian head office is in Montreal.

Re: Silver coins from my dealer
 

I know. I'm talking about anyone who doesn't.

Re: Silver coins from my dealer
 

Oh, ok. Well the dude from Apmex told me that when they do start to ship internationally, Canada will be among the first countries they ship too, but I have know Idea when that will happen, if it does.

Re: Silver coins from my dealer
 

Agreed. I used to drive good distances for ASE , but I found a local place and paid 18$ a piece for each 08 ASE just yesterday. I was paying 19.95 at the previous dealer. The big guys around here want 21$ for them right now.