!! ALERT !! My LCS won’t buy this SILVER
39,543
Published 2024-07-18
Disclaimer- I am not a financial advisor, I’m just a guy passionate about gold, silver and numismatics, please do not make any purchases or sales based on my videos. What I say in this video is just my opinion.
#silver #coins #gold #junksilver #silvercoin #silverstacking #silvercoins #preciousmetals #goldcoins #stackinggold
All Comments (21)
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LCS and bullion dealers are retailers and their whole purpose of existence is TO MAKE MONEY. They don't want to buy your silver merchandise if they can't flip it out the door. Remember in retail, inventory is bad. So when you buy in bulk, always try to cut a deal. It doesn't hurt to haggle.
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I got sucked in to watching coin shows on tv and buying numerous MS69/70 silver coins plus low mintage coin sets (Disney, Godfather and other movie coins) anyway I went to a LCS to try and sell and they would only offer SPOT…which was a ripoff…so I got a friend to sell my collection on eBay and I was lucky to get 75% of my investment back - never again but as I say that all these collectible coins were absolutely beautiful! So now I keep it simple just bullion.
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I buy painted ASEs when they are with the altered coins and considerably cheaper. I soak them in acetone and the paint comes right off.
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I would also add to that list is 40 percent half dollar Kennedy's, and also kilo bars of silver, both of these are hard to flip. Stay away from both of these.
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And I thought Silver Shot was to be loaded into a shotgun to kill vampires !
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Silver shot is also knowen to jewelers /metal smiths as casting grain. A silver smith would probably buy it with no problem.
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My LCS buys a lot of silver (e.g., silverware) but I would never stack anything but Eagles.
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Don’t ever sell to coin shops. Selling on online still makes you more than 25% more even after shipping.
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SilverDadKnows here. You’re killing it brother! Keep it up! You’re in your mode
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When I first started stacking, I purchased a 4oz gold plated walking liberty silver round… when I went to sell it because I grew to hate it - I was offered way under spot. Reasoning behind this was they had to separate the gold from silver, which is annoying to have to do. Steer clear of anything that is silver with gold plated
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Sry guys, i bought some silver. Im the reason for the dip. 😂😂😂
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In the Bible it says, in the end times people will throw their gold and silver into the street.
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I buy the American Eagles with the funky colored decals at my local bullion dealer for a Dollar over spot. Then, I put them in a saucer and cover them with Goo Be Gone and the decal comes off easily. Now, I have an American Eagle that typically sells at 3 Dollars over Spot.
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You guys are lucky over in the states , here in Australia they will offer 15-20% of the value then over charge you on the other end . Absolute total rip off merchants . Does $60 AUS for a circulated common date 90% Benji half dollar sound like a good deal ? 😂 . I crap you not , the coin shop directly over the road from Perth mint that’s what they want , and $70 for 1oz silver bullion . That’s $45 US for a silver half 😂 true story
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At my LCS I could get gold at spot minus a couple of bucks for a few weeks. The reason is simply that over that time the guy had a client who was getting rid of his entire stack that he had been accumulating for almost 2 decades,. Because the coin dealer had that coming in he was able to offer better than spot for a short time as he had so much to sell.
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I won’t buy big bars of silver..10oz plus is what I call not for me zone
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My LCD buys IT ALL. You may want to start looking for a dealer who does. My LCD buys all .999, 90%, sterling and even plated (by the pound).
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Coin shops not a great business. Margins and carry costs. Higher prices might not benefit you.
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Price dip but premiums keep the price the same. Been this way since $25
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Good advice 👍 I think with the collector coins it’s always better to sell privately
