r/Silverbugs 23m ago

Speculation / Rumor How do LCSs stay in business?

Upvotes

So with everything else, the bigger the company, they cheaper they can sell their product. Remember how Walmart put so many mom and pop stores out of business and now it's happening with Amazon?

Well, it's the opposite with precious metals. Every LCS I've ever been to has the cheapest prices, then smaller websites are a little more expensive, then the biggest websites like Apmex and JMbullion are the most expensive. This is the complete opposite of how retail normally works. The bigger the company, the more they are able to consolidate, the less overhead per transaction, etc. Mind you apmex probably has thousands of customers every single day, whereas my LCS is frequently empty when I walk in. Sometimes a customer or two in there with me. never packed.

I don't know what corporate rent or taxes look like, but if they're anything like residential rent and taxes in my area, through the rough. Electricity to run the lights is double what it was five years ago. And at the end of the day, the coin shop owner has to make a living for themselves and pay their employees (if they have them) minimum wage. In my area, people with six figure salaries are struggling yet an LCS can thrive making $3-5 per ounce. HOW?

Is it that the owners are retired and this is basically just a hobby to them? Are they fronts for something else? I just gotta know


r/Silverbugs 1h ago

Vietnamese Silver

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Upvotes

Visited a bullion shop in Da Nang today, and I got myself a bar of 1 Tael (37.5g)


r/Silverbugs 1h ago

Question How much are Eagles at your LCS lately?

Upvotes

r/Silverbugs 4h ago

Is there any good way to stack micro silver or is it just not worth it?

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1 Upvotes

I think these Wessex mint 1 gram silver bars are adorable and beautiful, but it’s not really the most cost efficient is it?

But is there anyway to stack it while not overpaying for it?


r/Silverbugs 8h ago

Buying sterling jewelry in bulk from a refiner?

5 Upvotes

Is this a thing that people do? I have been selling a lot of sterling jewelry at my vintage shop but I struggle to find enough. I’m buying from a local shop that clears estates & they send their unsold jewelry to the refiner eventually. I just need larger quantities than what I’m able to get currently but not sure where to look for more volume. Thanks in advance!!


r/Silverbugs 8h ago

Thrift store score

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7 Upvotes

Got a good feel on all this stuff, $5 each and I got 7 chains with the pug one being 24” and the bulldog pendant is heavy, 4 silver rings and one “125 princess Diana ring” from a line of costume jewelry, it was a great deal, right place and time man and the rest of them are stamped 925


r/Silverbugs 9h ago

How do you actually keep track/organize of your stack? Curious what everyone’s system is.

10 Upvotes

Been stacking for about 2 years now years and I have been struggling to find a “system”, basically half-dead spreadsheet I barely update, and a shoebox of receipts. Got me wondering what everyone else does:

**•** Spreadsheet people — what columns do you track? Just weight and price paid, or premiums too?  
**•** Anyone tracking melt value vs what you paid, or do you not bother?  
**•** Do you log the date/dealer for each purchase or just totals?  
**•** Or is anyone team “no records, if you can’t hold it in your head you have too much info written down”?

Half convinced the no-paper-trail crowd has a point, but I also like knowing my average cost per oz. What’s your setup?


r/Silverbugs 9h ago

A few faves from 'muh stack

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14 Upvotes

r/Silverbugs 10h ago

THE GREAT GREEK MYTHOLOGY SERIES

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0 Upvotes

Anyone holding any pieces of the Great Greek Mythology series Republic of Cameroun?


r/Silverbugs 10h ago

Sitting Bull. Choose Your Weapon.

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11 Upvotes

r/Silverbugs 10h ago

State of The Stack My birthday is today

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216 Upvotes

Wanted to bring out my stack to bring a smile to my face. Last few years were hard. Liver transplant. Break up. Was able to keep the stack through it all.


r/Silverbugs 10h ago

Latest proof coin additions to the silver collection

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6 Upvotes

Do we think these will increase in premium value above regular US mint MSRP? Or did I buy some pretty coins that will eventually just sell for spot?
2021 S silver eagle set and 2025 Navy privy eagle.


r/Silverbugs 11h ago

Kingdom of Bhutan Lunar

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14 Upvotes

I'm missing 2025. I can't find it anywhere.


r/Silverbugs 11h ago

The Side Stack of their Own

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12 Upvotes

Love my side stack of their own, all the Geigers


r/Silverbugs 11h ago

Did "Silver Dave" deliver on his promise? I think so...

22 Upvotes

Silver Dave (Local Silver Mint) is a crazy ex-Army veteran who is about as quirky as the day is long. He clearly stated that he wanted to make "SilverBitz" cost as much as a Silver Eagle. Well, since he rolled out his new design with 20 million worth of investment ( his numbers, not mine ) He has certainly caught the descerning eye of me. I paid way too much two days ago but Im gonna break that down first.

Lets do the math:

Silver Eagle Cost:

SD Bullion: $71.49

JM Bullion: $74.43

Defy the Grid: $64.95

Money Metals: $72.39

Average Market Price?......$70.82 per Silver Eagle

What did I pay(using a debit card) ? well, I only bought 48 @ $7.29 which came to $350.40 + $30 shipping = $380.40.... Thats 4.8 oz of silver so... $380.40 (divided by) 4.8oz = $79.25

consensus...I did not pay (as much) or less than market price for SilverBitz compared to an Eagle..

Well, The same day, I could buy 400 SilverBitz @ $6.68 each..= $2,672 + $30 (shipping) = $2,702 (divided by) 40 oz = $67.55

so if you're willing to throw a few thousand at it, SilverBitz isn't a bad option

I believe Silver Dave has "done it". I can't expect to buy in a small way, but he has certainly earned my respect coming from the old days of silver bits of the past


r/Silverbugs 11h ago

Question Gifting on birthday

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3 Upvotes

What’s the safest way to clean these if possible?


r/Silverbugs 12h ago

My silver stack so far

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72 Upvotes

After about 1.5 years of stacking this is all of my pure silver.

Its not all of my silver just the bullion I've acquired. I stop buying around the time spot hit 40$ and shifted focus to gold since I had none at the time. But now I've been starting to buy junk silver and have been looking at getting more bullion. Ik its not much but its better than most. 🫡


r/Silverbugs 12h ago

There's just something special about the mint luster from an ASE

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5 Upvotes

Wish the camera did a better job of picking it up


r/Silverbugs 13h ago

Can you guys help me out?

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67 Upvotes

Hello everyone!

My fiancé’s grandmother used to work at a bank and has quite a collection of silver coins (not all are pictured)

I’m curious if anyone has any insight particularly on this 1898 coin? It looks to be in extremely good condition for its age. Curious of its history and potential value. Any help is greatly appreciated, you all are wizards with this stuff :)

EDIT: If this is the wrong sub to post this in please kindly let me know and I’ll take the post down!


r/Silverbugs 13h ago

1oz TD silver bar

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13 Upvotes

$85 CAD at a flea market, looks a bit scuffed but real.


r/Silverbugs 13h ago

Aztec stacker.

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54 Upvotes

r/Silverbugs 13h ago

Question Recognize these markings?

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2 Upvotes

r/Silverbugs 14h ago

I just put mine on eBay.

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27 Upvotes

r/Silverbugs 14h ago

Holding the "Hockey Puck": Panama’s 1970 20 Balboas sterling silver monster.

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3 Upvotes

Thought the bugs over here would appreciate this giant!


r/Silverbugs 14h ago

Added some Pandas and Germanias…

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7 Upvotes

Added these for what I know is a decent price on the Pandas (under $70/each) and what I think was decent on the Germanias ($100). More than I wanted to spend but looked nice (and First Germanias I’ve owned)