big country
22nd December 2011, 05:39 PM
Went to the coin store today to burn my powder. Prices had been down recently, and this was the only time I could make it to the store. I don't usually mind if I get there a day or two later (and a dollar higher) then the low in the dip.
As many of you know, I sold quite a bit (for me...$6500 worth of AG/AU) to pay for our house/farm int he middle of this summer. After closing and fixing stuff up we finally had some extra money to make our move back in.
I called the store this morning to see if they were open, and if they had gold bullion in stock. Yes to both, so I went after work. There was a "mountain man" type in there buying numi coins. The dealer pulled out what he had, bullion wise, he knows I don't buy anything but.
He had 7 -1/10th GAEs, 1 - 1/4 GAE, 14 SAEs and $4.35 face (only 1 merc dime...argh!) in 90% junk.
1/10th GAEs @ $170
1/4 GAE @ $415
SAE @ $30
90% @ 20x
He also had 2 St. Gaudens and 4 $2.50 indians that he said were "bullion" but were not priced as such so I passed on those. He was asking $1675 for the $20, and $275 for the $2.50. I expect "bullion" to be a little closer to melt then that for me.
The bullion prices are always decent at my dealer and I like him a lot, unfortunately there is sales tax in this state so I have to add another 6% in "premium" on anything I buy locally. Needless to say this dealer now has only his non-bullion "bullion" gold left ;) No bullion to be found for the next guy...for now.
I actually was prepared to buy more but couldn't because there was none to be had :(
Now for story time. I bought 7 1/10th GAEs...or so I thought. My dealer is about a 45 minute drive from where I live. I was about 20 minutes into the drive home when I was looking at the receipt and saw that there were 8 1/10th GAEs charged...I knew there were only 7 in the bag as I had counted them before I bought. I somehow didn't notice the $170+ tax overcharge on the purchase in the store....mental calc was malfunctioning I guess.
I turned around, not sure what to except when I pointed out the error. I had things running thru my head of him accusing me of "hiding" one to try to get more out of him or rip him off, etc. I wasn't sure.
I walked in and he looked a little puzzled. I showed him the receipt and gave him the bag and he counted only 7. He said that a guy had sold him 8...and that is why he had that number in his head. But he had sold 1 of them 15 minutes before I came in. He apologized and I asked him if he had anything else since I didn't really want my $$$ back. He went to the back and pulled out a 1995 Proof 1/10th GAE and gave that to me and said have a nice day. I was happy with the resolution!
Forgot to put in the title, this is in WV.
As many of you know, I sold quite a bit (for me...$6500 worth of AG/AU) to pay for our house/farm int he middle of this summer. After closing and fixing stuff up we finally had some extra money to make our move back in.
I called the store this morning to see if they were open, and if they had gold bullion in stock. Yes to both, so I went after work. There was a "mountain man" type in there buying numi coins. The dealer pulled out what he had, bullion wise, he knows I don't buy anything but.
He had 7 -1/10th GAEs, 1 - 1/4 GAE, 14 SAEs and $4.35 face (only 1 merc dime...argh!) in 90% junk.
1/10th GAEs @ $170
1/4 GAE @ $415
SAE @ $30
90% @ 20x
He also had 2 St. Gaudens and 4 $2.50 indians that he said were "bullion" but were not priced as such so I passed on those. He was asking $1675 for the $20, and $275 for the $2.50. I expect "bullion" to be a little closer to melt then that for me.
The bullion prices are always decent at my dealer and I like him a lot, unfortunately there is sales tax in this state so I have to add another 6% in "premium" on anything I buy locally. Needless to say this dealer now has only his non-bullion "bullion" gold left ;) No bullion to be found for the next guy...for now.
I actually was prepared to buy more but couldn't because there was none to be had :(
Now for story time. I bought 7 1/10th GAEs...or so I thought. My dealer is about a 45 minute drive from where I live. I was about 20 minutes into the drive home when I was looking at the receipt and saw that there were 8 1/10th GAEs charged...I knew there were only 7 in the bag as I had counted them before I bought. I somehow didn't notice the $170+ tax overcharge on the purchase in the store....mental calc was malfunctioning I guess.
I turned around, not sure what to except when I pointed out the error. I had things running thru my head of him accusing me of "hiding" one to try to get more out of him or rip him off, etc. I wasn't sure.
I walked in and he looked a little puzzled. I showed him the receipt and gave him the bag and he counted only 7. He said that a guy had sold him 8...and that is why he had that number in his head. But he had sold 1 of them 15 minutes before I came in. He apologized and I asked him if he had anything else since I didn't really want my $$$ back. He went to the back and pulled out a 1995 Proof 1/10th GAE and gave that to me and said have a nice day. I was happy with the resolution!
Forgot to put in the title, this is in WV.