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Wide awake
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1,963 Posts
Discussion Starter · #1 ·
If you're a methodical buy and hold precious metals investor (meaning you buy incrementally due to a prediction that the gold/silver bull market has a long road ahead of it), you don't need to feel as though your metals investments will immediately become more expensive.

Personally, I like to purchase my metals from a local vendor (who knows my face and first name, but not my last name or contact info). Local dealers seem to have the lowest premiums and zero shipping cost associated with their sales. Furthermore, your transactions aren't necessarily captured on someone's information data base or the credit card company's ledger.

However, I noticed quite a while ago, that while pawn shops typically carry a higher premium, they don't have their finger on the pulse of the market. That is to say that they aren't going to be among the first to realize that gold and silver are consolidating or rallying. The significance is that we have an opportunity to capitalize on consolidations... well, even after theyr'e no longer consolidations. And we don't need to feel guilty about capitalizing on a pawn shop's failure to stay apace of the metals markets, because much of their profit margin is wrapped around purchasing their goods at far less than their value.

To be honest, I forgot to check the local pawn shops this time around, but was reminded in another thread after hearing of a great purchase price of some silver rounds. I made a trip out this afternoon to the local pawn shops, and as fate would have it, I found two rolls of dimes (fifty coins per roll) for sixty dollars apeice. With .09 oz. of silver in a 1964 US dime, that's
$13.33/oz - far below Friday's closing of $18.40/oz. I also bought six silver half oz coins for $8 apeice. That's $2.40/oz. below Friday's spot.

Long story short, if you're an incremental buyer, check the pawn shops for a while before their prices catch up to the market value.

Good luck.
 

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Wide awake
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Discussion Starter · #3 ·
Same thing I nwas talking about Sapper6 can get some great buys from locals and no real trace
And there he is.

Shootersc, you happen to be the guy who reminded me to check the local pawn shops. I think you landed your bargain (if I remember correctly) at a local dealer. I've been working with local dealers (one in Cali and one here in NC) for years, but your steal reminded me that there are some predictable bargains out there. Again, market rallies are often lost on pawn shop owners who don't follow the market all that closely.

Anyway, your bargain ended up giving me an extra day to buy silver at last week's prices. Thanks.
 

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I've done a couple runs through the local pawn shops, but they've nevr had much that I was interested in, from guns to PM's.
Our local coins shop,on the other hand, is fairly reasonable, though they post the current spot price on a chalk board, and have the news playing live on TV. No getting over on these guys :D: but they know me and know me as a little more than just a window shopper, I've gotten the impression on occasion that they must have had some impending bills or something, and seem to have given me a pretty good deal on something I've inquired about.
 

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Gone for Good
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GREAT ADVICE SAPPER6 !! That is great advice as it seems many shops are just to busy or lazy to update their prices on inventory. I look for bullion items with prices on them as its a tip off that a great deal may be coming your way. If you see a great deal and want to drop big cash be very sure the owner is not there. I like buying at lunch times and have scored deals that put smiles on your face for weeks!

Red
 

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"Don't look in the box"
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655 Posts
GREAT ADVICE SAPPER6 !! That is great advice as it seems many shops are just to busy or lazy to update their prices on inventory. I look for bullion items with prices on them as its a tip off that a great deal may be coming your way. If you see a great deal and want to drop big cash be very sure the owner is not there. I like buying at lunch times and have scored deals that put smiles on your face for weeks!

Red
That works great in big towns where there is lots of competition, but if you live in a town that still lives in the 60's/70's then you have less choices. After years of knowing certain people I can get a bargain locally. Who knows maybe I have a lucky face! after all business is business!
 

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And there he is.

Shootersc, you happen to be the guy who reminded me to check the local pawn shops. I think you landed your bargain (if I remember correctly) at a local dealer. I've been working with local dealers (one in Cali and one here in NC) for years, but your steal reminded me that there are some predictable bargains out there. Again, market rallies are often lost on pawn shop owners who don't follow the market all that closely.

Anyway, your bargain ended up giving me an extra day to buy silver at last week's prices. Thanks.
You are welcome Sapper6; it works for me and I can usually buy as much as I can afford to get this way and have a built in advantage of good pricing to boot:D:
 
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