Saturday, March 10, 2012

Local Coin Shop Open Thread- The Doc Visits A Local Dealer

Doc & BullRun visited the main local coin shop in town this morning to get a feel for the local supply and demand for gold and silver.
  • Random year silver eagles were selling for $6.89 over spot
  • Generic silver 1oz rounds were selling for $5.75 over spot
  • 1oz Gold Eagles were selling for $275 over spot
  • Buy-back price for silver eagles was $1.50 over spot
  • Buy-back price for gold eagles was $50 over spot
  • The store was busier than the local Starbucks, and everyone was buying.  One customer purchased approximately 5,000 ounces of silver composed of several monster boxes and 3 $1,000 face bags of 90% 'junk' silver.  The fiat dumper received a proper dual guard escort to his vehicle.  Perhaps due to this large purchase, inventory appeared fairly limited, with approximately 300- 400 oz of random year silver eagles in stock.

We'd like to open the thread up for SD readers to share their intel on your local coin dealer's supply and premiums.