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View Full Version : Went to the LCS to pick up 5 ozs but....


LoveTheBenjis
05-10-2011, 02:17 PM
First shop claimed to have nothing, Second shop had ASE for $7 over spot, that is of course unless you wanted a 2011 which was $11 over spot "since the mint was out of them" so that is $49.50 for a 2011 !!!! Oh and by the way, there is 6% NJ sales tax on top of that !!! ummmmmm left with my FRN's. At least he was honest and said don't pay the extra for the 2011 its not worth it...

Man I hope silver drops into the teens, so I can pay in the $30's for my eagles !!!

Kerig
05-10-2011, 02:39 PM
I went to a place yesterday that had zero silver rounds. He was honest and said he had some stored in the back that he can't sell right now. He paid $48 for them and had to wait for POS to go back up to avoid taking a loss.

It was good to hear that last week's burp took most by surprise.

galtbob
05-10-2011, 07:56 PM
I went to a place yesterday that had zero silver rounds. He was honest and said he had some stored in the back that he can't sell right now. He paid $48 for them and had to wait for POS to go back up to avoid taking a loss.

It was good to hear that last week's burp took most by surprise.

How does someone else's misfortune improve your life?

itsgavinc
05-10-2011, 08:00 PM
How does someone else's misfortune improve your life?

He didn't say it improved his life. That's putting words into his mouth. Your a smart guy, I enjoy your posts, you know exactly what he meant.

He was alluding to the fact that if his local coin guy (who does PMs for a living and should therefore know even more about fundamentals and the POS) bought at $48/oz and therefore didn't see a sharp week of declines coming, then he must be doing okay himself because although he stacks and does research when and where he can, he doesn't do PMs for a living and certainly didn't see the decline coming.

He's just trying to work out the POS drop in his brain, and it sometimes makes us feel better when we realize that we weren't the only ones that didn't foresee it. That's all.

galtbob
05-10-2011, 08:16 PM
He didn't say it improved his life. That's putting words into his mouth. Your a smart guy, I enjoy your posts, you know exactly what he meant.

He was alluding to the fact that if his local coin guy (who does PMs for a living and should therefore know even more about fundamentals and the POS) bought at $48/oz and therefore didn't see a sharp week of declines coming, then he must be doing okay himself because although he stacks and does research when and where he can, he doesn't do PMs for a living and certainly didn't see the decline coming.

He's just trying to work out the POS drop in his brain, and it sometimes makes us feel better when we realize that we weren't the only ones that didn't foresee it. That's all.

And my point is that my knowing or pretending someone else is stupid (or lucky) does not make me any smarter (or luckier).

Instead of calling it unforeseeable (after all THEY didn't see it either, so I must be smart too), it is much more productive to actually figure out what those that did see it know that you do not. Start by recognizing that all tradeable markets are manipulated, and you are on the right road towards wisdom.

I am NOT trying to be a jerk, but this is a VERY important philosophical distinction that leaves many people in poverty (or ignorance) their whole lives.

halfhunter
05-10-2011, 08:35 PM
I am NOT trying to be a jerk, but this is a VERY important philosophical distinction that leaves many people in poverty (or ignorance) their whole lives.

Most folks live in poverty their "whole lives" by choice ! ! ! JMO

HH

Silverstate2011
05-10-2011, 09:05 PM
Ok, so after reading a lot of posts about no silver to buy, I decided to hit up some of the LCS in my area and see what kinda stock they had. I decided on two shops I hadn't been to in a while, the first shop I went to was closed! Everything was gone and the property was for sale! I was shocked. They always had a steady steam of customers. Ok, so off to the next one, as I pulled up I saw the lights on, good sign so far. After being buzzed in I soon realized there was no shortage of silver in my area at all. They had everything from the one kilo perth mint coins to rolls of eagles. So I asked the clerk for a one ounce bar and he brings about five or six and sets them on the counter. Guess what?! Two out of six were Engalhards! 41.50 out the door. GOD I LOVE VEGAS!:D

auheavy
05-10-2011, 09:06 PM
Dude! if you go to local coin shops to buy your silver or gold you better take a big jar of vaseline.:p :p

Pray tell where you get your great deals on gold and silver at?

Chrisadamley
05-10-2011, 09:22 PM
First shop claimed to have nothing, Second shop had ASE for $7 over spot, that is of course unless you wanted a 2011 which was $11 over spot "since the mint was out of them" so that is $49.50 for a 2011 !!!! Oh and by the way, there is 6% NJ sales tax on top of that !!! ummmmmm left with my FRN's. At least he was honest and said don't pay the extra for the 2011 its not worth it...

Man I hope silver drops into the teens, so I can pay in the $30's for my eagles !!!

wow you have horrible coin shops near you. I wouldn't buy from any of them. That is VERY high prices. I have never seen anything like that. I can get ASE 2011 here for 5 over spot it think? 11 over is just ridiculous.

sexysilverdog
05-10-2011, 09:29 PM
Ok, so after reading a lot of posts about no silver to buy, I decided to hit up some of the LCS in my area and see what kinda stock they had. I decided on two shops I hadn't been to in a while, the first shop I went to was closed! Everything was gone and the property was for sale! I was shocked. They always had a steady steam of customers. Ok, so off to the next one, as I pulled up I saw the lights on, good sign so far. After being buzzed in I soon realized there was no shortage of silver in my area at all. They had everything from the one kilo perth mint coins to rolls of eagles. So I asked the clerk for a one ounce bar and he brings about five or six and sets them on the counter. Guess what?! Two out of six were Engalhards! 41.50 out the door. GOD I LOVE VEGAS!:D

I live in Arizona and went to a vegas coin store last month. I left after I realized they charge sales tax! Makes me wonder how they stay in business when Arizona is right next door with no sales tax.

Silverstate2011
05-10-2011, 09:52 PM
Road Trip Here I Come!

mojo1
05-10-2011, 09:54 PM
Which LCS was it in Vegas. I've been to a few and the prices were much higher than I can get online, and then tax on top of the crappy price.

Ok, so after reading a lot of posts about no silver to buy, I decided to hit up some of the LCS in my area and see what kinda stock they had. I decided on two shops I hadn't been to in a while, the first shop I went to was closed! Everything was gone and the property was for sale! I was shocked. They always had a steady steam of customers. Ok, so off to the next one, as I pulled up I saw the lights on, good sign so far. After being buzzed in I soon realized there was no shortage of silver in my area at all. They had everything from the one kilo perth mint coins to rolls of eagles. So I asked the clerk for a one ounce bar and he brings about five or six and sets them on the counter. Guess what?! Two out of six were Engalhards! 41.50 out the door. GOD I LOVE VEGAS!:D

Silverstate2011
05-10-2011, 09:59 PM
sahara and tenaya been there before ?it's only my second time there b/c the staff the first time sucked!Are you here in vegas also and if so whats your favorite store?

Richie3888
05-10-2011, 10:00 PM
First shop claimed to have nothing, Second shop had ASE for $7 over spot, that is of course unless you wanted a 2011 which was $11 over spot "since the mint was out of them" so that is $49.50 for a 2011 !!!! Oh and by the way, there is 6% NJ sales tax on top of that !!! ummmmmm left with my FRN's. At least he was honest and said don't pay the extra for the 2011 its not worth it...

Man I hope silver drops into the teens, so I can pay in the $30's for my eagles !!!

I just picked up 35 eagles for $1500 this morning at a local shop.

mojo1
05-10-2011, 10:11 PM
sahara and tenaya been there before ?it's only my second time there b/c the staff the first time sucked!Are you here in vegas also and if so whats your favorite store?

I don't have any that I buy from here. I haven't been to the store your talking about but I've been to their online site and they have a nice selection of gold and silver. I'll check it out if I'm in that area sometime.

Spanky
05-10-2011, 10:16 PM
How does someone else's misfortune improve your life?

It's called "Schadenfreude", it's a German thing....

Silverstate2011
05-10-2011, 10:26 PM
please do they have a large selection. its hard for me b/c I only can afford small amounts

Cynthialee
05-10-2011, 10:56 PM
Dude! if you go to local coin shops to buy your silver or gold you better take a big jar of vaseline.:p :p

Funny, my local guy only charged me .37 cents over spot last time I made a purchase. I didn't feel like I needed vaseline at all.

seafoam91
05-10-2011, 11:18 PM
Dude! if you go to local coin shops to buy your silver or gold you better take a big jar of vaseline.:p :p

My local guy is awesome. He has big markups on bullion coins, but sells any "Junk" for melt. Including morgans, and even gold, ive bought ducats, sovs, guilders, all for melt price.

Silverstate2011
05-10-2011, 11:46 PM
Where is this dealer located?

seafoam91
05-11-2011, 12:46 AM
bc canada if you're asking me

Silverstate2011
05-11-2011, 01:33 AM
And you said you buy gold at spot too? Thats a great dealer you got there.. are you new to stacking or just new to the site ? welcome and enjoy the party that never stops :D

LineNoize
05-11-2011, 01:36 AM
How does someone else's misfortune improve your life?

I believe what he's trying to say is something more along the lines of, "Misery loves company."