Should I haggle with my coin dealer?

[ItsTime]

I expect silver and gold prices to go down in price. I am already getting 20 LE's for the price of $360 (no tax no shipping). Do coin shops normally go down/up in price day to day as the market goes?

 

[Dr.3D]

Do coin shops normally go down/up in price day to day as the market goes?

Yes, coin shops usually are quite in tune to the spot price of the metals. This is why you don't see a price tag on any of the modern gold and silver coins.

As for haggling, it all depends on if he is selling way above the price you can buy the same item on the internet for including shipping.

 

[Josh_LA]

I expect silver and gold prices to go down in price. I am already getting 20 LE's for the price of $360 (no tax no shipping). Do coin shops normally go down/up in price day to day as the market goes?

I honestly wouldn't bet on them going down. Especially if you're a beginner and have much to buy up.

 

[Kludge]

you don't see a price tag on any of the modern gold and silver coins.

??? Isn't that illegal?

 

[Dr.3D]

??? Isn't that illegal?

Nope... just ask what the price is and the owner/sales assistant will tell you.

 

[RJB]

The way people are demanding PMs. They have the upper hand. Silver is scarce.

 

[Bruno]

The way people are demanding PMs. They have the upper hand. Silver is scarce.

True. The coin shop I visit, purely for collectibles, went up from $1 over for silver to $2.50 over in a matter of a few weeks. They sell it all out the same day.

 

[ItsTime]

Ok thanks. Looks like the price should be lower tomorrow or Tuesday.

 

[eric_cartman]

i think if it's a reputable coin store, you wont be able to haggle much on the price.

i think if you pay in cash, you can probably get it cheaper... and if you buy a decent quanity, you can probably get sorta a bulk discount. they might knock off $20 off the total if you buy 5 ounces of gold instead of one... but i wouldn't expect any big discounts, espeically since the demand is so high.

and if you're buying silver eagles or something for example, and the spot price is $13... the coin store might charge between $18 and $20, that is, if they even have any eagles to sell. so if it's a reputable coin store, the price is the price. the paper prices don't matter when coin stores are all out of stock and demand is exploding. if you're not willing to pay the premiums, someone else will

 

[pacelli]

Some coin shops can be notorious assholes especially to new people. If you want to establish a good buyer-seller relationship with the coin shop, it might be a good idea to NOT haggle your first time out. They've got what you want and they can always tell you to hit the road. If they tell you to hit the road, you won't be going back to that shop, and then you'll be stuck traveling farther or paying S&H.

 

[ItsTime]

good points

 

[mconder]

Don't deal with one coin shop, but several. Buy from the on that's closest to spot always.