Title | : | Why I DON’T Buy Silver and Gold Bullion From Local Coin Shops #lcs #silver |
Lasting | : | 10.01 |
Date of publication | : | |
Views | : | 11 rb |
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You and yankee are intresting to Watch i made a coment that yankees tim prices are high and his viewers attacked me i tried to buy from tim and could not pay that much more they said i bidnt know he was more yes i do been there Comment from : STEPHEN BASSETT |
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Was looking to score my first one ounce gold coin, either an ASE or Britannia JM Bullion $2,003 SDBullion $1,978 My local coin shop $1,960 I also bought some 1/4 ounce gold eagles from the same shop much less than the online dealers wanted Another thing I like about the local shops I can pay in cash without raising red flags at the bank using wire or debit card options I guess it depends on the shop I personally love my local shop and have built a really good relationship with them Comment from : Jewelry Enthusiast |
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Liberty and Pinehurst tend to be the cheapest on eBay Comment from : Arrowhead Head |
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I unfortunately live in a deep indigo blue progressive/marxist/communist state that charges a (constantly increasing) 8 bullion tax - so LCS's (and online deliveries to this state) are a no-go All you're doing is converting fiat into real money, but the marxist don't dare recognize that fact, so they treat it like it's a normal purchase to be taxed The rulers here (and the sheep that happily agree with them) want to keep us poor and in bondage Comment from : givemelbrty |
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I was afraid this was going to be where you were going to go No offense intended, but this just stupid If you were dirt poor and selling blood to feed your family and using any remainder to buy a Silver dime, I'd say you have a point But by this reasoning, everyone should shop at Walmart or buy from Amazon Sometimes, that's just not a good idea By this reasoning, you'd never be able to buy from a local farmer because his/her tomatoes would be more expensive than the tomatoes in the Big Box store The fact is that an LCS is NEVER going to have the economies of scale to compete with on-line dealers I think it's incredibly short-sighted to think that because you can save a couple of dollars, you shouldn't patronize local coin shops There are too many advantages to doing so for that kind of attitude and/or recommendation to make sense You want local buy-in on Gold & Silver wherever you are, and you're more likely to have that if you have local coin shops It's the same as any mom & pop type place you might have locally None of them will be able to compete with the Big Box stores, but that doesn't mean that you want to sell out your town and just go to the giant corporate conglomerates because you get to save an extra 10 I'm not saying that you can't buy on-line, as most people do, and some people are forced to But I also wouldn't ever suggest that you not patronize your local coin shop I'm always trying to buy at least something from my various local coin shops just in the hopes that they keep their doors open I don't care where you buy from, but if you truly don't buy from Local Coin Shops, that's sad That saidkeep stacking either way! Comment from : veritasfiles |
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I work with bullion dealer who works with small margins and consistently beats all on line sellers Comment from : sstrauss6752 |
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I have often bought from the large online dealers but there is one advantage to a LCS and that is no paper trail to your purchase Online dealers use electronic banking to make the transaction and that can be used by the government in the future if they want to confiscate ones precious metals On top of that there are good LCS out there You just have to shop around Comment from : Erik May |
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If you avoid local coin shops for purchase of silver, where do you go to sell your silver?brCertainly not the smelter where you purchased brThe bigger picture that all knuckle-head stackers miss is that you quibble over chump change $5 vs $3, Fing chump change Numismatics is the only worth while investmentbrBought a semi-key Lincoln cent at an auction for $45, sold it for $450 10 years laterbrWhen the hell are you ever going to see gains like that, lugging silver around NEVER!brStackers are all lazy idiots, too much effort to learn a bit about numismatics, to stupid to realize that stacking 100 lbs of silver ultimately earns PEANUTS! Comment from : marosen,md |
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My LCS pays spot or back of spot He sells 1 oz generic rounds for $35 and coins for up to $50 I pick up something every other week just to support the local business, but 999 of my bullion I buy on-line Comment from : Tom Tharos |
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Premiums for generic silver here in Oregon have collapsed They were $5 over spot, now, they're at $3 The prices were ridiculous Comment from : ripperduck |
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The coin shops don’t care if you don’t shop there They have other, real patriotic, that by American coins… Comment from : Jerry Ayon |
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I stopped because I got a silver plated copper bar Comment from : John Murdoch |
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My LCS asked for a dollar more over spot every time I went in I stopped going after he wanted 7 over for a 10oz bar Comment from : Bill W |
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Can someone explain how silver is a good hedge over inflation? 100 yes and silver is 23$ Comment from : milo74156 |
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I have bought a lot of junk silver at pawn shops, but like you most of my bullion from bullion dealers Great video! Comment from : SSR🏹 |
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Cant a single thing your saying, got my volume turned all the way up, still nothing Comment from : Subdue |
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Nicely-balanced presentation Comment from : Clayton Blackburn |
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My local Coin dealer is a Straight Prick 😅 Comment from : ParkayCollecttibles |
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I'm still getting great prices at my LCS here on the south shore of LI And I never spend more than +$2 on generic rounds and bars 90 and ASEs as well Comment from : Christo Four |
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Vermillion Enterprises had American Silver Eagles brSpot plus $ 450 !!!!br🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸👍 Comment from : American Stacker |
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Every online purchase can be tracked Period End of story Comment from : Jay Barr |
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I like fractional gold (1/4s) and 20 gold francs I looked at SD, Amex, J/M, Provident and the best 20francs has been at a LCD consistently brALSO I live near the border, and THE BEST 1 oz gold bars I have consistently found is in Vancouver! They usually beat everyone online big boys, and my LCS by about 20-30$ on a gold 1 oz bar When I am up there, there is always one of the three I frequent who cream everyone They seem to rotate their competitiveness, so a stacker needs to phone and compare These dudes are bullion dealers though they are all about weight and purity Collectibles are not their bagbrPS the only problem is zero on line access to product Comment from : Billy Bob Mirango |
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I try to go to my LCS at least once or twice a month even for something small They always are happy to see me Comment from : bob sacamano |
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I do prefer generic rounds over generic bars I seem to do better on the resales Comment from : bob sacamano |
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I like variety Some of my favorites include the Scrooge McDucks Nuie silver ounce rounds! When I was a little kid I liked watching Duck tales and dreamed that I had enough gold to go for a swim in it We grew up poor and only could afford to eat cheese sandwiches with ketchup packets Comment from : bob sacamano |
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Congrats! brI hope to get a thousand subscribers Comment from : bob sacamano |
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Once they started adding tax to California residents, I stop buying from coin, shops and online dealers Found a bunch of good dealers/people through coin groups on Facebook brBest way to stack Ag/Au/Pt imo Thx Comment from : SoCalSilver |
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To get a good deal you really have to look around Enjoyed the video Comment from : Cash and Coins |
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In my area, there are clearly pawn shops and coin shops, and they are very different Almost all the pawn shops are trying to steal product from their customers and sell it at an almost retail price Most people walking into a pawn stop need the money They're not just looking to trade up or get something different If the shopkeeper can screw ninety percent of their clients product, they just get used to it Of course, there are exceptions, but that's what I find in my area around the Md Va and DC On the fl I p side, coin shops are much more relationship oriented If your typical coin shop customer walks in and feels like they're getting screwed, they walk out Comment from : Chris In Virginia |
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Who will you sell it too a local lcs 😂 Comment from : Tom Mondello |
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You don’t support the little guy you are a moron I own a store I can beat the big boy prices and you get it on the spot not wait weeks to get it It’s called build a relationship with a lcs Comment from : Tom Mondello |
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Hi Patriotic Stacker! I love the LCSs' I frequent! I find they all have something different to offer! For example one has silver and gold in cases, another doesn't have anything out, you have to ask for what you are looking for None of that bothers me, I just need to know that they do business differently 😎I have one LCS that always gives me the lowest prices on silver and gold bullion! Comment from : Legacy $tacker |
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I wish there was a competition over which LCS has the lowest "sell to us" prices lol I stopped going because I like to trade, and my LCS's price list includes buying back ASE's and Engelhard AT SPOT price It's like a lot of these businesses want to fail Comment from : Kevin K |
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Good video buddy boy I’ll call ya back today 😘 Comment from : Empire Precious Metals |
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I appreciate your videos however I don't agree with you I will only buy from my LCS No shipping charges and payment is only in cash I don't want my transaction tracked online If that's what works for you great I just don't agree My LCS is usually better price than online maybe I've just been lucky 🍀 Comment from : Stanton Magid |
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My LCS is usually a little cheaper than online dealers, the problem is 50 miles away and fuel is definitely a factor so I like getting stuff in the mail from Monument and Bold Comment from : Jamie Fox |
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I’m lucky here in Southern California I have a good LCS and you’re right - it’s partly about the relationship The owner is a stacker and really tries to be fair Congrats on 3K subs Comment from : Metal Scholar |
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Being that it is an unregulated market and the market is real small LCD can pay what ever they want Around my parts LCD always pay less than spot, always Comment from : Mane |
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Heybuy for 30sell for 18 !! Comment from : Hello Howdy |
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Nice to hear a shout out to Monument Metals! My #1 go-to online bullion dealer!! They've been getting new silver stuff in which makes it even more exciting to shop there I discovered Dead Men Tell No Tales rounds today and could hardly wait to order some Keep stacking y'all Comment from : barjer54 |
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I'm not sure about you but I like my privacy too much to pay with a check or worse yet credit card I'll bay a fraction more to be anonymous but you do have your opinion Comment from : Wes Brubaker |
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True! Just called one that was 10000 more than online! Comment from : l W |
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Love the local LCS sometimes can get real good bargains on harder to find older bars, Also 90 a little higher, but sometimes find the harder to find dates Comment from : Jeff Keller |
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If you become a good customer and become loyal you will see some appreciation from them if you don't they will only see you as that guy that never buys Comment from : hisinvisibleness |
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They can not compete and they do not have the capital to buy your metals when need to sellAsk yourself if you needed to sell could your LCS handle 50,000 dollars [or whatever the type of currency is at the time?????]!!!!!MONUMENT IS THE BOSS Comment from : Wayne Pratt |
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The only real silver/gold shop near me is an hour away Have bought 90 of what I have from one online provider Some of it is because I didn't buy speciality stuff but mostly all Credit Swisse rounds and bars No looking back Pretty much done buying I have my horde and satisfied to sit on it Comment from : Lee Fury |
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Hey now what about coin shows lots of venders,tons of choices and sometimes you can negotiateWe have 5 local ones more than 15 a year! Comment from : Jeff Nelson |
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Does ANYONE know of any online dealers that are cheaper than Hero Bullion & Monument Metals??? Comment from : Haunted Highway 216 |
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My LCS is really competitive with gold, sometimes even cheaper than anywhere online brbr Not at all with silver though, usually right around $5-6 over spot even on generic, and not great on junk silver either Comment from : Louis E |
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The online fees and shipping costs keep my interest close to home I don't have to spend so much to get a good deal Comment from : Jason King |
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Build a relationship with lcs, give them feedback to improve their business Moving spot creates a need for moving premiums at times Comment from : GR |
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Love from coney island keep stacking brother Comment from : Nicole Paul |
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I’m lucky, my LCS Is great, his prices are always better than any online bullion dealer, last week I paid $28 for Buffaloes and $18 per dollar face for 90 Keep Stackin bro Comment from : Big O |
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Hero bullion best prices, I see your in Orange County I'm in NYC Anyone in Manhattan do you know of that has good deals ? Local shop near me went under due to greedy Landlords Comment from : Steve Lapointe |
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My only local dealer is 6 over spot on silver generic rounds so I haven’t bought anything from them Comment from : PatriotPirate |
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I like your intro Comment from : PatriotPirate |
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It depends who's working the counter at my lcs My main guy takes care of me the other 2 partners, not so much Comment from : Brian Heimbuecher |
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I have a great LCS, the man has been a coin lover all his life and is the go to guy for old coin expertise Prices are a little higher on bullion than i would like, but I like the man and helping him keep the hobby alive Comment from : Homestead Aquarius |
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LCS don't charge you tax and bullion dealers do Comment from : Christian Rodriguez |
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I think the secret is to have an LCS as a partner-participant in stacking (If you buy a fixed amount every month, the LCS owner will see you as a valuable customer - someone he wants to treat well to maintain the steady purchases, as opposed to the casual walk-in, where they are more inclined to get top dollar for their stuff)brbrI am blessed to have a good LCS near me, and his prices are usually cheaper than the budget online places like Bold Precious Metalsbr(as an example, he sells new bullion silver at +$350 over spot - stuff like 10oz Germania bars, 1oz Buff rounds, +$250 over for secondary market silver etc) - He does have a 20oz minimum purchase thoughbrbrI have only sold metals a few times (8 ounces of gold over 2 sales and 300 ounces of ASE's on a single sale)brMy LCS paid more than I was quoted at the online places I got quotes from, and I got paid in cash on the spot, and I did not have to mess with shipping anything outbrbrI have 3 other places near me, and between those 3 and online, I would do what you are saying and go with online buys Comment from : Plane Fun |
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Great video and i agree I want the cheapest premium, although i do buy an assortment of sizes Even buying 1 oz rounds kills mebrbrI've found bullionexchanges to consistently have the best prices so I'm pretty loyal to them but i definitely look around Comment from : Royal Mowery |
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Congratulations on the 3000 subscribers! You deserve it, Patriotic! Regarding LCS buys, you raise some good points I don't buy a lot from my LCS, but I view it as a key relationship to have and maintain and sometimes that comes with a premium Keep stackin', my friend! Comment from : Weekly BULLION |
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I buy most of my silver on eBaysome at my LCS, but not much Comment from : Bob Silver |
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Sd bullion Comment from : John Schroeder |
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My LCS is like a partner He called me because he needed 90 for a good customer and in paid me $25 per dollar value He also thanked me with 3 gold coins at $50 over spot I know he resold the 90 for a profit I like having an LCS near especially when I need to sell quickly Comment from : Arturro7374 |
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I just went to a new lcs that’s really close to my house Got an Asahi 10 oz bar for less than the cheapest one on eBay Comment from : West Stephan |
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Lcs guy is a G on money cloud 9! Comment from : Cory Hilleboe |
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Seem like LCS in CA are a straight rip off They want over $32 per oz for Franklin's, and most silver is $6 over Comment from : glutemaster |
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Local shops in my area are very high compared to online bullion dealers Comment from : John Bialek |
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Silver Eagle in Va Beach is awesome ! I always enjoy my visits there ! Comment from : My Silver Journey |
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Agree 100! Comment from : hotheadedjoelhaha |
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I have one LCS that treats me really well But for most coin shops I tend to agree that you can get it cheaper from good online dealers I’m starting to really like peer to peer transactions as well Comment from : Mark Lewis |
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New Subscriber 🎉 Comment from : Nikki Solo |
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That’s a lot of variability with LCSs these places aren’t chain businesses, so each one is run differently Still worth checking out, but some areas just don’t have them or have good onesbr🔥🦈🌊 Comment from : Silver Oceans |
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I have a gem coin shop about 45 minutes from me They arent super-common though brNeed to seek out the good shops and frequent them Comment from : World Money Wins |
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Those RCM bars torment me I am lacking in the 10oz RCM barsbrI have tons of other bars like Britannia and vintage stuff, but I think RCM bars are the best to stackbrI need to get more :-) Comment from : World Money Wins |
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One of my local coin shops will only allow one bigger cash purchase per year He wants check or wires which is why I never visit his shop Comment from : McLaughlin Lofts |
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I wouldn't buy from a LCS at those prices either My shop has generic rounds and bars at 3 over and we have 10oz scottsdale stackers for the 250 over Eagles are 7 over Comment from : Silver Scrounger |
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GREAT POINTS PS Comment from : James Real |
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Well, I don't buy from the LCS, simply because there aren't any Comment from : NC Stacker |
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Agreed they charge to much I understand 3-4 but 5plus nah I’ll wait Comment from : THOMAS DRELICH |
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I prefer purchase from Local Coin Shows though I still occasionally visit my LCS for small purchases Southern ca, and surrounding area has at minimum 1-2 shows each month This way i can avoid the Ca $2000 Tax minimum coins shows have no minimums and no receipts, this is my preferred method Subbed! Additionally I have yet to order Bullion Online Comment from : ChefStackerLA |
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I'm fortunate to have a couple of good shops in the area Comment from : theHighDesertPioneer |
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Bought my first silver yesterday at a local pawn shop at over $5 spot Either way i was happy since it was my first buy But lost 1 bar somehow omw home Might have fallen out my pocket when i got into my car It kinda stung, so i kinda want to avoid accidents and try buying online Comment from : TheAverageSome1 |
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I feel this There is no lcs near where I live so I buy all online through different dealers It's mainly just watching and seeing who has the best prices at the time Comment from : Kainoa Lee |
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Love those RCM bars Don't shop my locals Never even go in to hear that BS they try to take advantage of you Comment from : Edward L |
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My LCS beats online dealers all day long Comment from : Mark Gotschall |
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