A newbie question.......

[jkrk]

I have posted for quite awhile in the comic area but this is my first post here.

 

If I wanted to buy bullion coins is there a thread of recommended dealers? I bought some

 

1 oz Pandas today @ $870 and was wondering if the price is reasonable?

 

Thanks.

 

 

 

 

[bsshog40]

Welcome jkrk. I gues that price for the pandas would presume on how many you got for that price.

[jkrk]

Welcome jkrk. I gues that price for the pandas would presume on how many you got for that price.

 

Thanks for the reply.

 

I bought twenty. At what level would the price change? To be fair the Panda's were prior to 2009 sold as BU's in original mint packaging.

[ant]

[ant]

im sorry to say but unless there is a huge premium for this panda bullion, it seems far too high.

[ant]

what year are the pandas? ill check in krause if i can. also what condition are these in?

[jkrk]

im sorry to say but unless there is a huge premium for this panda bullion, it seems far too high.

 

OK. Then that what I'm asking. Is there a list of dealers who sell them for less?

 

Usually I buy GLD and gold futures but I have little experience with coins.

[jkrk]

what year are the pandas? ill check in krause if i can. also what condition are these in?

 

The Pandas are being shipped to me today. Last week, received (20) 2008 American Eagles for $49 over spot that were sold as brand new in original mint rolls and looked it.

 

Again, Coins are new to me so bear with me.

[ant]

well i usualy get my silver and gold from local pawns that cant sell them for a while. there are folks on the board like COLL3CTOR that usualy have silver. right now spot is low and silver is fast liquid.

 

if i had more info on the coins you had it may not be a bad deal. i usualy get it at silver spot so any premium catches me off gaurd. the krause shows some good prices on some pandas and some are far lower. you may have gotn a good deal a little more info is needed for that part.

 

also lots of folks have been doin pools when dealing in silver right now.

 

sorry if thats not enough help. someone should be along shortly with more info for you

[ant]

what year are the pandas? ill check in krause if i can. also what condition are these in?

 

The Pandas are being shipped to me today. Last week, received (20) 2008 American Eagles for $49 over spot that were sold as brand new in original mint rolls and looked it.

 

Again, Coins are new to me so bear with me.

 

(thumbs u

[ant]

pandas in the krause are roughly marked between $27.50 - 50$ so it doesnt look bad at all to me.

[jkrk]

pandas in the krause are roughly marked between $27.50 - 50$ so it doesnt look bad at all to me.

 

Thanks for your efforts. (thumbs u

 

Need any comics?

[ant]

[jtryka]

Was it a gold panda you bought for $870 or 20 silver ones for $870? If gold, that was a very good price, if 20 silver, then not as good.

[jkrk]

Was it a gold panda you bought for $870 or 20 silver ones for $870? If gold, that was a very good price, if 20 silver, then not as good.

 

Each 1 oz gold Panda cost $870.

 

Thanks.

[ant]

ah gold 1 oz pandas! dang good price! i was thinking silver! my bad.

[AB]

Well I have several of the 2009 Pandas that I'm selling on the BST board for about $25 apiece.

 

The Pandas in general usually sell for a rather large premium because of the design and the low mintages. It is safe to say that, like the Britannias, these are modern collector coins that just happen to have silver value.

 

I usually have some bullion as well, but recently I've been buying and selling the higher premium bullion.

 

There are several sites where you can buy silver bullion in bulk for reasonable prices, but you often have to purchase 500 oz at a time or more.

 

I'd be interested in where you got those ASEs at only $2.45 over spot... most of the larger bullion dealers are still selling them at $3.99 over spot.

 

 

[jkrk]

Well I have several of the 2009 Pandas that I'm selling on the BST board for about $25 apiece.

 

The Pandas in general usually sell for a rather large premium because of the design and the low mintages. It is safe to say that, like the Britannias, these are modern collector coins that just happen to have silver value.

 

I usually have some bullion as well, but recently I've been buying and selling the higher premium bullion.

 

There are several sites where you can buy silver bullion in bulk for reasonable prices, but you often have to purchase 500 oz at a time or more.

 

I'd be interested in where you got those ASEs at only $2.45 over spot... most of the larger bullion dealers are still selling them at $3.99 over spot.

 

 

1)What are ASE's?

 

2)For 500 oz Silver Eagles, the best I have found are $3.75 (2008) over spot ($3.99 for 2009)/. I believe Silver Maple Leafs were running $3.25 oz (per) premium for 500 oz's.

 

3)Therefore, isn't the silver premium 30%+? why the large markup? Is it due to the overhead allocation to make one coin?

 

Thanks

[saen78]

 

 

1)What are ASE's?

 

 

American Silver Eagles

[AB]

1)What are ASE's?

 

2)For 500 oz Silver Eagles, the best I have found are $3.75 (2008) over spot ($3.99 for 2009)/. I believe Silver Maple Leafs were running $3.25 oz (per) premium for 500 oz's.

 

3)Therefore, isn't the silver premium 30%+? why the large markup? Is it due to the overhead allocation to make one coin?

 

Thanks

 

1) Already answered

2 & 3) The simple answer is that they can get the premiums easily and that's why they charge them. There are many people who would say that it is because there is a price descrpancy between physical silver and the spot silver price and the premiums refelect that.

 

I think there is a lot of confusion in this thread. I was talking about silver bullion and you were referring to Gold bullion (e.g. I think you bought 20 Gold Pandas at $870 each and 20 American Gold Eagles at $49 each over spot).

 

I believe that your price of $870 and your AGE (American Gold Eagles) at $49 over spot are about as small as premiums as you will find on physical gold.

 

South African Krugrands usally trade at very small premiums, but the prices that you mentioned so far seem reasonable.