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cptindy
Penny Hoarding Member
572 Posts |
 Posted - 01/30/2010 : 08:20:23
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I am pretty new to buying silver coins and have had a couple quick lucky trips I believe that have me hooked on silver. Enough so that I decided it was well worth an investment into more coins. I like the half dollars personally and have decided to stick with them. I
I decided after hours of watching ebay and seeing closing prices to purchase some coins from ebay. As I had acquired a nice chunk from the bank I felt with dollar cost averaging to buy more coins at what I felt was "going rate" on ebay.After a few small purchases and what I believed was fair market value I did some research and found a coin dealer close to home.
I made the trip to the coin store and inquired about his 40% and 90% half dollars. Low and behold the were .50 cents less per coin.I am not sure what to think. I am in no way upset with my ebay purchases yet will now buy direct from him.
To keep you aware and give you insight here is what I paid:
$2.52 per coin for 40% including shipping through ebay
$6.60 per coin for 90% (Kennedy) including shipping through ebay
$2.00 per coin for 40% plus a 5 mile drive to the dealer
$6.00 per coin for 90% (Walking Liberty, Franklins and Kennedy) plus the same 5 mile drive.
Looking for feedback
Thanks to All
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"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 01/30/2010 : 08:36:23
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| I would rather do business with my local dealer than with feebay. With your local dealer you can establish a relationship, if he knows you like halves he will save them for you if he knows you will stop by on a regularly like once a week. You don't need to worry about getting ripped off because you have the coins in your hand when you leave. If he has a bunch of them you can cherry pick the best ones. And your money stays in the local community rather than going to feebay. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 01/30/2010 : 08:49:16
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Your dealer is offering good prices. I would take advantage of that.
Everything NDFARMER wrote about e-bay is spot on. I wish I had a dealer like that in my area. The coin guys around here are overpriced for sure. Another advantage is if you were self-employed and came across some cash, thats a great way to hide...um..invest it. |
Come to the new and improved realcent: http://realcent.org
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 01/30/2010 : 09:04:12
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That is what I thought as well. Not only did he offer unlimited information he hooked my son up with some folders for his pennies at no charge. I bought all he had and was told to keep in touch.
I agree about the "invest it".
Thanks! |
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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Silverguy23
Penny Sorter Member
USA
62 Posts |
Posted - 01/30/2010 : 09:09:24
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| CPTindy, I followed much the same path you did. I now have a good relationship with my local coin dealer. I will purchase, only 90% half's, or dimes. I do this when i have been skunked allot. Not to addicting? When I find 40% I do sell them on Ebay. I get a higher price there. It goes into my PayPal account and I purchase unique rounds off of Ebay that I like. I also look for the deal on Ebay and use the PayPal account to fund that. I do not use the PayPal to purchase 90% halfs... WAY to pricey on Ebay. Use your Local Guy. |
Silver Bugs.... Keep Stackin'! |
Edited by - Silverguy23 on 01/30/2010 09:10:45 |
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garnede
Penny Collector Member
USA
386 Posts |
Posted - 01/30/2010 : 12:48:31
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| Buy local for all of the same reason that NDFarmer said. I buy 90% from a local dealer and pay a few % lower than spot. I'm happy to do this because we both get what we want and it supports a locally owned business. |
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bman
Penny Collector Member
USA
425 Posts |
Posted - 01/30/2010 : 14:12:00
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What was the spot price of silver when you bought on ebay and what was it when you bought from ther dealer?
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check out my coins for sale on ecrater : http://bmanscoinsforsale.ecrater.com/ |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 01/30/2010 : 14:58:03
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The coins were purchased in the week when the spot price was falling a bit.
My ebay purchase was when it was around $16.90 ish.
My dealers price, silver had dropped a bit to $16.54 I believe.
I understand that makes a difference but have noticed ebays prices still seem to maintain the same premium as when they were $18.50 for those coins.
I am thinking about selling my 40% coins and invest in ASE's! But quite honestly once you hold any silver coin it is hard to part with. LOL!
I agree I will keep my business local. I appreciate the personal attention and the non paper trail as well as the good deal.
We just returned from a coin show and if I hadn't been bitten by a silver coin bug I most certainly have now. HAHA! I can't really come up with a negative for this addicting hobby!
Just want to say thanks to everyone in this forum as I have enjoyed reading the many posts and have learned a lot in the short time I have been here.
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"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 01/30/2010 : 15:21:58
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Does your local coin dealer charge sales tax?
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Trust the government? Ask an Indian. |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 01/30/2010 : 16:57:43
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| No sales tax on U.S. coins in Florida! |
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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Silverguy23
Penny Sorter Member
USA
62 Posts |
Posted - 01/30/2010 : 17:35:51
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| Just picked up 6 1964 Kennedy's for $36 from my local coin shop. Melt today is $35.18 for 6 1964 Halfs. You would be hard pressed to get that deal on Ebay. Cash, no tax, no fees, all good. I purchase a little at a time, and Keep Stackin'. :-) |
Silver Bugs.... Keep Stackin'! |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 01/30/2010 : 18:52:31
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That's Awesome! We went to a coin show today and each one of us got a ASE! (Family) My kids are now buying coins with their allowance! It's Great!
Stack'em Up! |
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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kirkland
New Member
USA
0 Posts |
Posted - 01/30/2010 : 18:56:53
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| I went to a coin show today too. Found a lot of cool coins, but didn't spend as much as I did at the last show. |
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thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 01/30/2010 : 20:41:08
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quote:
Originally posted by cptindy
That's Awesome! We went to a coin show today and each one of us got a ASE! (Family) My kids are now buying coins with their allowance! It's Great!
Stack'em Up!
cptindy,
First of all I think your posts are thoughtful and well composed.
My kid occasionaly comes upon money, b-day gifts odd jobs, whatever.
And he drives us nuts wanting to blow it on crap. I force him to put aside 20% of everything he gets, with one exception.
He is allowed to buy silver with impunity.
It takes the pressure off. He releases the urge to blow his money while he is saving, and my wife and I also feel good that he is saving.
The boy loves buying silver rounds, coins, whatever. It's a blessing and a win win |
Come to the new and improved realcent: http://realcent.org
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Edited by - thogey on 01/30/2010 20:58:01 |
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goodcents
Penny Hoarding Member
USA
504 Posts |
Posted - 01/30/2010 : 20:51:49
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I've enjoyed reading this thread. I also support anyone who buys locally. It's all about that relationship with the local guy. He will have people come in with exactly what you are looking for and if he knows he can move it fast he may get a better price on a large group for both him and for you.
Keep us updated on the silver buying. Sure is addicting! |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 03/18/2010 : 20:24:57
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After almost two months my local dealer calls me whenever they get the half dollars in that I like.
Well worth the time and effort spent cultivating the relationship.
Thanks Everyone! |
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 03/18/2010 : 20:50:32
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| You are on the right track by buying local. |
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zerocd
Penny Hoarding Member
555 Posts |
Posted - 03/19/2010 : 05:02:34
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I have a local dealer and have cultivated a nice relationship.
I often go in and find cheap seat silver (rounds and coins)that I want and make a cash offer. He now always accepts and i never pay his case prices which are much like the prices your dealer offers.
he may have 17 silver dollars in the case and i don't screw around. I make an offer for "all"
he also lets me cherry pick stuff.
I often get painted or dinged/ discolored SAE's for spot. I can do that all day long.
Now that you have a relationship. Try making offers, lower than marked.
0CD |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 03/19/2010 : 11:30:51
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What everybody said about buying locally is spot on. If, you have local dealers you can work with. I do not. My local dealers are all crooks and liars, with bloated ridiculous prices. If your not dropping at least $1k right now, they won't even be polite to you.
So I buy on ebay. But I buy foreign Ag under spot. I'm not tripping over everybody else paying above spot for U.S. Ag.
I have recently started doing business with a coin and stamp dealer a little out of my area. He seems like a decent friendly person so far. I am working on building a relationship to see where it goes.
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Roberto
New Member
USA
9 Posts |
Posted - 03/21/2010 : 13:37:28
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Hey all:
Longtime lurker, first time poster.
I have bought a lot of coins off of Ebay. I have had very good transactions for the most part. I have only been shorted once (seller forgot 2 .50 pieces). The one time I was shorted, seller made it up on the next transaction.
I HAVE HAD PROBLEMS WITH LOCAL COIN SELLERS THOUGH! I have bought "junk silver" at gun shows and gotten shorted. For example, I bought 6 rolls of quarters, and a couple of rolls were 1 coin short. This has happened a few times. This isn't a big deal, but it is annoying.
Overall, I've had better experiences with Ebay. I can sometimes buy for UNDER MELT VALUE, even factoring in delivery costs...
There are several tricks that I use with Ebay.
1). If the seller is good & has good product, quick delivery, etc., I will contact the seller directly and ask if they just want to sell to me directly at a small discount. That way, they save time & hassle. This sometimes works out nicely for both of us.
2). If I find an interesting auction, I always look at what else a seller has for auction.
3). I love to buy coins in "odd lots". For example, 20 quarters, 8 dimes and 3 half dollars all in one auction. When coins are aggregated together, you can sometimes get them at 90% to 95% of melt value.
4). If you are a frequent seller/buyer on Ebay, Ebay will sometimes give you 10% off coupons. That is a nice bonus when you are buying a $300 auction of coins.
Roberto |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 03/21/2010 : 15:40:52
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Welcome to the realcent forum Roberto!
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"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/21/2010 : 16:10:43
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It is great to have a relationship with one or more local dealers. Some of the finest collections in history have been put together with help from dealers the collector has a relationship with. He knows what you are looking for and will keep an eye out for it for you. Sounds like he was very reasonable on the price too. Keep in mind that with eBay, there is another player trying to line their pocket.. eBay! The ebay/Paypal bite has to be covered so the price needs to be higher, even though the seller nets less. Whenever you buy on eBay, be sure to use all the rebates/cash back etc. to get your price down as low as possible.
One other good place to buy silver is on this board. You can just watch for what is offered, or put up a wanted ad with your buy price.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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sunsetcliff
Penny Pincher Member
USA
101 Posts |
Posted - 03/22/2010 : 20:00:39
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| Either way you did well. $2.50 might be full price on the 40%. Ebay can be decent in rebates...and easy. Being that I buy small bits at a time ebay has worked well for me. |
It is great to be here ~ !
http://groups.yahoo.com/group/silverme/ |
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JustSayNoToFiat
Penny Pincher Member
110 Posts |
Posted - 03/23/2010 : 07:55:04
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I use local dealers.
You keeping money in the local economy,
You can inspect the goods before the sale,
The transaction risk/hassle is pretty much nil. ,
and you can maintain your privacy. |
It's Half Time...all the time. |
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george454
Penny Pincher Member
242 Posts |
Posted - 03/23/2010 : 08:21:22
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I use local dealer on everything except silver. We have one dealer in town and he knows it and is proud of his silver. I wish I had a dealer that offered a fair price. Oh well when I get ready to pick up more silver I guess the WTB section will have a nice post.
cptindy were in Florida are you at, I am just north of the Big @$$ Lake in Florida. |
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fasteddy
Penny Collector Member
USA
298 Posts |
Posted - 03/25/2010 : 09:22:20
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Ebay is useful...to gauge the market what people will pay for items however your local coin store will have the better deals....My coin store doesn't sell NASCAR tickets so i have to get them off of Ebay..but he does sell 90% below melt so when I buy 90% it is from him. Although I have bought ASE's from ebay my local store is always at $22 minimun for ASE's...shopping around on the bay can get a better cost average. |
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Ebay vs Dealer
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