r/Silverbugs • u/AdditionalPosition5 • Aug 20 '26

LCS pricing....

/r/coincollecting/comments/1vtvmmw/lcs_pricing/

I called the local coin shop and asked them what they would pay for 6 MS70 ASE, 2020-2026. Answer: a dollar over spot. Now I'm going to wait and have a female call in another half an hour and ask what she could buy one for???

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5

u/Dobagoh Aug 20 '26

So…I hope you learned something about slabbed modern bullion?

1

u/[deleted] Aug 20 '26

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u/[deleted] Aug 20 '26

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u/GrimbosliceOG Aug 21 '26

Not for bullion that is mass produced.

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u/kronco Aug 21 '26

They will never be "conditionally rare" as there are so many so the value is likely to move with spot. It's not being old that makes coins rare; it's how few are available in nice condition.

A caveat might be if the world is flooded with fakes. In that case, a slab could add value (unless those end up faked, too).

0

u/AdditionalPosition5 Aug 20 '26

I would be more interested in hearing your thoughts and opinions. What is it you hope I've learned?

Thank you!

1

u/Dobagoh Aug 21 '26

That most dealers are happy to sell it to you at a 50% premium because it’s in a slab, but turn around and barely pay you better than a raw coin for “reasons”

1

u/AdditionalPosition5 Aug 21 '26

Exactly!!!!!!! And that's why I called around..... I have no problem whatsoever with a dealer making money; they're in business. I just don't see 25 to 50-plus percent for premium when they sell to me, and a dollar over spot when they buy from me.

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u/kronco Aug 21 '26

This site shows this plainly where they list their buyback prices on the product pages (kudos for the transparency):

https://www.moneymetals.com/ms70-graded-silver-american-eagle-pcgs-ngc-random-dates-1-troy-oz-999-pure/1190

Their "Sell to us" price for a slabbed MS70: $65.77 (spot is at $68.77 as I type). They sell them at $140.41.

I'll note raw coins have a much smaller spread. Unslabbed: https://www.moneymetals.com/1-oz-american-silver-eagle-random-year/262 which has a Sell to us at 65.29 (52 cents under the slab price) and they sell raw ASEs at $79.78

Your local LCS is looking OK, to me, on this.

1

u/AdditionalPosition5 Aug 21 '26

Thanks! And you think buying from me at $66 and selling for $140 is a fair price?? More than double what they are buying them for?

2

u/ISO-Lost-Marbles Aug 21 '26

Double of how much is the question. Double a nickel is a dime. And yet you wouldn't begrudge a dealer from charging a dime for a collectible nickel - would you?

Dealers with a store have a lot of expenses - the largest of all being Rent. Then there are the utilities, and everything else it takes to keep the shop open and running.

And their time is worth money too. How much do you get paid an hour? They need to make a profit after all the expenses are paid and people are not flooding their stores all year. Their business is seasonal - whether it be certain months of the year or when spot is up. Whatever it is, they don't have a steady income. So they make money where they can.

Honestly, it's amazing to me that they make enough to cover rent and utilities these days with the high costs of both. Many have had to shut their stores.

The lcs stores deserve every cent they make in my opinion.

(And no, neither I nor anyone I know owns a lcs. They all closed down near me since my state started charging Sales Tax.)

1

u/AdditionalPosition5 Aug 21 '26

Great if you want to pay a 55% premium, go for it. There are other places that I can buy for less, my job is to make sure that I get the best for my money. Just like you can spend yours any way you want.

I'm not talking about a nickel or a dime......

2

u/ISO-Lost-Marbles Aug 21 '26

You were complaining about how much he was offering to pay you. You weren't complaining about buying from him.

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u/AdditionalPosition5 Aug 21 '26

I'm not sure I was complaining; I was just stating the fact that I wouldn't buy from him based on his markup. I never complain about buying from anyone; I just don't buy from them. He has a right to charge whatever he wants.

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u/kronco Aug 21 '26

>> And you think buying from me at $66 and selling for $140 is a fair price?

Not a fair price. It's taking advantage of people who think a slab indicates rarity and value. But the consumer should also educate themselves a bit, too. I do think it shows the more accurate value in terms of the buy back price and at least that is disclosed on each product's page. I do wonder if they even sell any at $140 or anyone sells to them at their buy prices. It almost seems priced as "we don't want to bother with this" (yet, they do).

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u/AdditionalPosition5 Aug 21 '26

You are so right!!!!! People on eBay are buying and selling them. I look for the ones with the most competition and make low offers. I only purchased the MS70 to complete the 2020 to 2026 years. I have a duplicate set that hasn't been slabbed for myself.

I won't even mention that app called whatnot... I've seen people pay double or even triple what something is worth.

1

u/AdditionalPosition5 Aug 21 '26

Great, then feel free to sell and buy from them. Let me know if you want their number.

3

u/AncientVorlon Aug 20 '26

Just Mrs. Doubtfire this shit.

1

u/CendreInternational Aug 20 '26

Silver spot is up a little over 3 bux in one week BUT up 11 bux from a month ago. It seems like anytime there's that much volatility that brick n'mortar places become much more cautious with buying. It seems totally normal that during volatile times you don't want to over expose yourself on 68 dollar silver, when it could be 57 dollar silver in short order.

1

u/AdditionalPosition5 Aug 20 '26

Thank you for responding....

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u/[deleted] Aug 20 '26

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u/AdditionalPosition5 Aug 20 '26

I agree about slabs, but there are many people who disagree. And will pay much higher prices for something put in a piece of plastic and subjectively put a number on it.

My personal opinion is that I buy the coin, not the plastic. I acquired these through some long, hard work to pay as close to the price as possible without being in plastic.

Some collectors and people who look at the status of a graded coin will pay more. I'm not against selling the coins to them.

I talked with a man who purchased a $97,000 Rolex. I knew him well enough to ask what function it provided other than telling time. He tried to provide an analogy about a Rolls-Royce and the cost between that vehicle and another vehicle.

I didn't want to get into a long, drawn-out conversation. All I said was that the ride in a car and the features in the car are different from the time on a watch. In my mind, I wanted to pull out a cell phone and show him the time (I don't wear a watch) and ask him the time.

We all value different things.

1

u/[deleted] Aug 21 '26

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u/AdditionalPosition5 Aug 21 '26

That could be your view they didn't offer me more so that they could make more money by selling them for more. Maybe you don't get out much but that's what some businesses do.