Silver at coin shops?

[Z28931]

Does anyone here buy silver at coin stores? I've been buying silver 1 ounce bars for a few years but it's always been online and I have to pay usually $4-$5 over spot PLUS shipping. What are the prices like at coin shops?

 

[Hipower]

Check with Tim Frey of Roberts and Roberts Brokerage in Pensacola on Airport Blvd. He has good supply of 90% silver coins at good prices. If you're serious and want a good price, give him a call. He mostly take appointments only as your transaction is private. He also has gold as well as silver in numismatic and bullion type coins, rounds, etc. Let him know his IDPA director sent you. Check out his website: http://rrbi.co/.

 

[sureline]

Been buying mine in pace for about 3 over spot 1oz

 

[Bean Counter]

Check out Emerald Coast Coins. They have a store in Milton on the bypass road and one in Pensacola on 9th just north of Creighton. They have always been very fair with me and I won't go anywhere else local for gold and silver.

 

[shootnstarz]

All above is good information. R&R Brokerage is a great place to buy PMs, but I limit my transactions there to when I have several hundred to invest. Not that they aren't happy to sell you a 1 oz bar but I prefer not to waste their time on small purchases. I was sitting in the waiting room one afternoon ready to spend about $300 when somebody called and wanted $100K worth of Gold Eagles. I felt like a peon and I thanked them for taking their time to even mess with a small time invester like me. They never made me feel inferior with my small purchases, are always happy to help me out and I've learned a lot for them. I really can't say enough good things about my experiences doing business there.

For small purchases I go to Emerald Coast. Steve is a straight up honest man who's shop I have spent thousands in with not a complaint. He is very fair but you will pay a little more premium at his store.

If all you're interested in is silver watch some of the PM houses like APMEX. They occasionally have bullion for $.99 over spot. That will help offset any shipping cost if you purchase enough.

But no matter where you go I am so glad to know you're stashing PMs. All the paper pushers say it is a bad, risky investment, but I feel that way about paper. No matter what happens your silver and gold will always have some value, (unlike paper) it has over the last 5K years, no reason to believe that will change.

Rick

 

[Z28931]

Anyone know of a place in Baldwin county? If I drive to pensacola it then becomes easier and less expensive to purchase online.

 

[FrankT]

Starz, that is about my limit 1-2 over spot, any more and I will be waiting forever to cash out. say spot is 20 then they will only pay you like 17 and you buy for 21-22, you can see the spread.

 

[Emcm2]

I'm getting mine between 1-1.59 depending on how much I buy. He's in pace if anyone wants his contact PM me I'll hook ya up with him

 

[shootnstarz]

Anyone know of a place in Baldwin county? If I drive to pensacola it then becomes easier and less expensive to purchase online.

There are several coin shops in Baldwin county, I've met some of the owners at coin shows. I don't remember the names of the places but look in the yellow pages. As far as bullion brokers like R&R I don't know.

There is also sales tax to consider. I believe Alabama charges sales tax on every silver purchase whether it's bullion or currency. In Florida there is sales tax on bullion purchases less than $500, none if you spend over $500. There is no sales tax in Florida on currency coin purchases of any amount, as long as it's legal US tender, which include American Silver Eagles, junk US silver coins and numismatic US coins.

Frank, APMEX has a buy price on everything they sell and it's not that much below spot, check with them if you want to sell. The spread between buying and selling is rough, silver really has to jump $5 or so for a peon investor to make any money. But every once in a while I will win some modern silver quarters very close to spot price on feebay. You have to really work at it but deals can be found.

Rick

 

[shootnstarz]

Here you go Frank, $.69 over spot today only !!!!!

http://www.apmex.com/product/27024/...onsys&utm_medium=email&utm_campaign=Promotion

Rick

 

[FrankT]

Pretty darn cheap, got a transmission to buy instead, darn it!

 

[TraderDan]

Starz, that is about my limit 1-2 over spot, any more and I will be waiting forever to cash out. say spot is 20 then they will only pay you like 17 and you buy for 21-22, you can see the spread.

Exactally why I started to buy lead instead. If you want/need to sell you can never anyone who will buy when it is high, oh i'm not buyin right now, or I have too much on hand. plus it has to go up around 5.00 to break even. It is a long term investment. The one who bought at 4.00 - 12.00 did ok now, I'm sure it will spike sooner or later but who will buy it when it hits 40.00 or 50.00 so you can cash out?

 

[shootnstarz]

True Dan, but there may come a point where all that paper money in our wallets won't buy diddly but PMs will. That was my reason to start hoarding the stuff but I've since started enjoying coin collecting, silver coins that is.

Price may go up, price may go down, but one thing is for sure, it will never be worthless, unlike the aforementioned paper money. I would like to think I will make a profit off it if I ever cash out my meager, small time collection but it's as much an insurance policy as it is an investment for me.

Rick

 

[FrankT]

When Silver hits 40-50 every gold and silver shop will be buying at $2 lees or so, I have bought silver for many years as I can always melt down for bullets...lol

 

[TraderDan]

Hey Rick, congrats on the coke machine, it went up to a nice price.

 

[TraderDan]

I have 33 x 40% kenedys if someone wants to pay spot. I was doing a favor and payed the same. would be 100.00