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Message Subject
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Buying Silver Online or In-Store: A real world analysis.
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Poster Handle
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Anonymous Coward |
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OP,
When I buy local, my guy does pre 1933 liberties for (market)x (weight) and then he usually adds a 2% rake, so for your 1000, you could buy lets say $10 gold piece (.48375 x 1661.30)=803.65 +(2% or $16.07)is $819.62 but Apmex wants $941.05 so in this instance, w are saving about $121.43 which is enough to buy another $1 gold piece or silver or ??.
So be sure when you buy local, that you are only paying for the actual weight - you don't want to pay for pnumismatic or perceived value.
I do pre-1933 liberties due to some laws for confiscation purposes, but they will never find my joo gold. There is no premium or additional value to these because they are very old, or because of confiscation laws - we are only paying for the actual weight - so we don't care about the grading or quality, so long as it is what it is.
If you find yourself paying a premium in addition to the weight, watch out. Us regular folk who are hedging against inflation are not really pnumismatic experts. But a short crash course online can show you how to grade by site, so you can distinguish between MS-61 MS-62 Jewelry Grade, etc etc. But most coins we are looking for are shit for grading (jewelry quality) but as long as the weight is there that is all we care about and are paying for.
Most local dealers charge a 1 to 5% rake or profit on top of the actual weight multiplied by market value, as per above.
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