DON'T BUY THIS GOLD; Coin Shop Interview Part II.
HTML-код
- Опубликовано: 23 июл 2024
- You asked for it and it's here. Part II of my interview with my local coin shop; Avenue Coin. Lots of goodies discussed in this one.
I stack silver and gold to hedge against our debt-fueled, fiat currency-based economy that I am convinced is in severe trouble. Consider stacking silver and gold yourself to help you build and preserve wealth. And thank you for watching Campbell’s Coins!
Avenue Coin: 209-463-9577
I receive zero kickbacks or payment from Avenue Coin.
I'm a huge proponent of mental health. Below is a referral link to BetterHelp, where you can receive two weeks of therapy for free. If you're going through some hardships or just need support, I highly recommend BetterHelp.
www.betterhelp.com/rpc/35cb06...
Reach me:
campbellscoinssales@gmail.com
Follow me on Instagram for more gold and silver content / campbellscoins
Mailing:
Campbells
PO Box 911
Davis, CA 95617
If you’re looking to support my channel, consider using one of the Amazon links I have listed below. It costs you NOTHING to use my links and you don’t have to purchase the item in the link. Thank you all!
Items I use:
Capsules for Silver Eagles: amzn.to/3fKIX2b
Capsules for Gold Eagles and Gold Buffalos: amzn.to/3AobJPz
Capsules for Gold Maples and Britannias: amzn.to/3tO7Dzh
Plastic coin flips: amzn.to/3KAouLC
Clear coin display easel: amzn.to/3Am6Jeu
Jewel lupe: amzn.to/3Io4Pgf
Small Scale: amzn.to/3Iub2XN
Cotton gloves: amzn.to/3qMyidO
My camera set up:
Camera: amzn.to/3tK4pwF
Camera lens: amzn.to/2JJ58Jr
100mm Macro lens: amzn.to/3qNnCvf
Microphone: amzn.to/2LhVWwB
DISCLAIMER: I am a participant in the Amazon Services LLC Associates Program and B&H Affiliate Program, both an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites. Some of the above links are affiliate links where I may earn a small commission at no additional cost to you. I am not a professional financial adviser, nor do I offer financial advice. This video is for entertainment only. Please consult your investment and tax experts for financial advice.
Music and sound effects by: www.epidemicsound.com/music/f...
Topics Discussed: selling gold, gold stacking, gold coins, selling gold coins ,LCS, fractional gold, 1/4 oz gold, quarter ounce gold coin, 1/4 oz american gold eagle coin, american gold eagles, 1oz vs fractional gold, gold american eagle, fractional gold coins, fractional gold stacking, gold stacking strategy, american gold eagle coin, american gold eagle 1/4 oz, fractional gold stack, gold, age, best gold, best gold coins to buy, coin shop, goldback
The Goldback fan bois have entered the chat. Folks, I understand the purpose of goldbacks. The problem is, goldbacks aren't accepted in the majority of states. For those living outside one of these states, it would appear they can't use them for their intended purpose. If folks can't use them for their intended purpose and they want to sell them, they will take a huge loss unless they find someone to trade with. That is the only point I'm making. Don't tie your self worth to an inanimate object; it doesn't end well.
REEEEEEE! These goldback peps don't get it. So defensive lol.
@@lennybrewster4673 How are they uninformed? Why are you so defensive over this product? Do you work for goldback?
😂 "YoU dOn'T gEt It"
@@CampbellsCoins 🤣
They're novelty items
One of the most weird beliefs among the PM buyers is that they think buyers should build good relationships with coin shops by keeping buying frequently in hope for better deals from the shop. I always think that's stupid and it should be the other way around. If the LCS has a good attitude toward new customers and sells with the best prices they have, I'm sure customers automatically come to their business.
Agree. The scenario you mention though isn't what's being discussed. You build a relationship with a shop that treats you well. Not beg for good deals while they treat you like crap.
Absolutely!! My coin shop near me treats you like a moron and a complete nuisance. Unfortunately no other shop near us
What people are avoiding saying is that some LCS rip off their customers. They are more likely to do this to people they think are only going to come in once and never deal with them again. Such as someone they think may have inherited silver or gold and wants to sell it. If you are a familiar face, they might refrain from some of their shady practices. I'll give you an example. I bought a Gold Maple at a reasonable price and years later when the price went up, I went back to the same shop to sell it. He looked at it under a magnifier and claimed there were scratches on the coin. I handled the coin but was gentle with it. He said he could offer a few percent less than spot, but then looked at the sleeve the coin was in and noticed his own store's logo on it and realized I bought this very coin from his store. He had a miraculous change of heart and offered a more reasonable price. Aside from this firsthand experience relating to having a relationship with their LCS, I also stopped buying 24k gold because it is so soft and opens you up to the excuse of "scratches" on the coin. I began buying Krugerrands(22k gold) which are harder. When selling those I've managed to evade further shenanigans from coin dealers.
No I always treat the returning customer better because I appreciate the loyalty. Your gas stations, grocery store do the same thing. Only difference is we don't do coupons and customer clubs. I would pay a client more money for silver or gold than someone who walks in with stuff they bought everywhere else. I would also find things I did not want and just suggest selling it to who they bought it from.
100% agreed
As a retired US citizen living on a budget, listening to you guys, make me feel uneasy for buying fractional gold. Whereas that's all I buy, simply because that's all I can afford. Either 1/10 Oz gold coin or quarter ounce gold coin. My first gold coin was a 1/10 Oz 1990s Canadian maple leaf in 2015. A happy moment in my life. Today, I'm a happy owner of 3 oz of fractional gold. I try to buy fractional gold coins on the dip. having some gold in hand is truly a great feeling. I wish I had more. However, that's life. Watching rich guys on RUclips displaying all your thousands of Oz of silver and tubes of 1oz gold coins. Thanks for the vision, though👍🏽
I found a pawn shop selling even graded numismatic gold for 10% over spot no matter the weight. 10th oz, 1 gram, doesn't matter.
Something better than none ! At least ur adding. U can only do what u can do...I want more gold but don't usually have that much disposable income at once. I wanted ounces of gold, I've got a good bit of fractional gold, don't think I need anymore. When I have 300+ available I've been buying silver rounds at best deal at the time. It all adds up.
Well done, sir. You're 3 oz ahead of the vast majority of people 👏
nothing wrong with buying fractional silver or gold, you are only losing on the higher premium for fractional amounts. Now if you are stacking as protection against inflationary concerns, then fractional may turn out to be the smart play as it is easier to use as currency during a market collapse. Fractional silver bars are probably the best for this as they would tend to be better situated to use as barter pieces. I think the argument about 3x9 fine vs 4 x9 fine is a really tedious one because it won't mean a damn thing in the grand scheme.
Same as you my friends with the huge difference, that I started two months ago.
Can I join in your club ?
😉
The Goldbacks are just cool! Anyone buying them should completely understand the pros and cons, and if you know that much then you know how cool they are.
I have a few just for that cool factor.
I wasn’t going to buy any, but I just did (Alpine Gold Exchange). Even paid for the kool wallet (25). So spending 25 on the wallet I thought, “then I don’t care about the HIGH premium for these,….I bought about 100 dollars worth….Yep, 100 dollars that I would Throw at Starbucks $6-12 dollars at a time,…Goldbacks are worth it to me when I think about it in those terms”. Although I could have got 3 Silver rounds for the same expenditure,…hehe.
Hold on though, krugerrands still contain 1oz of gold but they are mixed with a small percentage of copper. It means the coin weighs more than an ounce. When you buy a krugerrand, you are still buying an ounce of gold.
Good info thanks
Same for Silver Krugerrands?
Locdogg... silver Krugerrand are one ounce .999 silver
@@locdoggibwestside no only the gold ones because gold is to soft so like the American Eagle they make there gold coin 91.67% pure but it does have 1oz of gold with a tiny silver and copper mixed in to make it tougher circulation gold but silver is tougher so its 999 pure
Krugerrands are also harder and less likely to scratch(which a PM dealer can use as an excuse to pay you less when you sell.) It is the only gold coin that has its own song: ruclips.net/video/YXIRSRypxTI/видео.html
My local coin shop wasn’t offering better deals than the on-line coin dealers and the selection was minimal. I can order on-line for competitive rates, anything I want, in any quantity, brand new.
Definitely depends on your region and when you're buying.
@@CampbellsCoins I agree... but consistently in my area, he's spot on. My guy thinks everything is "numismatic".
Uses APMEX to price "backdate" phillys or other regular bullion. Insanity sometimes.
Same. My LCH told me he simply couldn’t match many online dealers due to his overhead
same my lcs guys are knowledgeable and nice, but their prices are for people who don't know about online bullion dealers that's where they make their money. I can consistently get coins for $100 to 200 cheaper at SD bullion, I don't care about being knowledgeable and nice I care about the price.
We’ve come to realize this also. Online is better deals and it’s getting to where you get a better deal when you sell back to the online dealers. Don’t you think it would be important for LCS come to the realization of that? Having a really good LCS can get you some great deals.
All this goes out the window when there's a crisis. Gold is gold.
Sure. How often are we in a crisis where all this goes out the window? How long does a typical crisis last? Finally, do we spend the majority of our time in a crisis (where we are transacting in gold) or is the majority of our time spent outside a crisis?
@@CampbellsCoinsWhy buy at all then?
@@CampbellsCoinsif you believe you are going to be transacting gold in a crisis are delusional. People out here getting robbed for less than a C Note. Serious question, do you believe you are safe?
Okay, you right transaction in goal is going smooth.
Who doesn’t say the “fallen government” deep state sends armed black ops to take your gold like THEY US Military have been doing for decades to other countries in crisis…
Something to think about.
@@CountMeOut33 Because we don't live the majority of our lives in a crisis.
@@CampbellsCoins Exactly. Why buy it? Go on a vacation, live life!
I’ve never found a better deal in a coin shop over an on-line dealer. I’ve had a few LCS attempt to take advantage of me, I’ve never had an online dealer attempt to take advantage of me.
Sounds like you have some horrible coin shops.
@@CampbellsCoins It’s Vegas, what would you expect 😂
@@GMad-sc4uk HAHA! Makes a lot of sense now.
What recourse is there if the coins are “fake” ….?
@@snowyowl6892 Are you referring to the on-line dealers?? Or fake in general?
He hit the nail on the head when he mentioned a cultural change. How people don't know how to deal with a person face to face anymore. I'd add the need or expectation of instant gratification.
There may be a degree of mistrust of some of the coin shops. The thing is a buyer can just write down some of the reasonable prices(checking online dealers) on a piece of paper and take that with them. If the PM dealer is discovered to be unreasonable, you can leave and never go back.
I will always go to my LCS first. But every once in a while, there’s that item on eBay that will catch my eye.
Great video. And part #3, oh hell yeah! 👍
Can't beat eBay for selection. LCS cannot compete on that front. I think I get one piece a year on eBay because I know I'll never see it at my LCS and it's just stunning. Thanks for the +1 on part 3!
Hey CC 👍👍
From what I understand from watching a number of Silver Seekers videos where he calls various different coin shops is that he's calling shops in different states, not just in his immediate region.
Okay, good to know. Thanks BA!
I have travelled to many countries France England Australia. New Zealand ect and found Canadian Maples were the one's the dealers wanted and that includes slv and gld Maples.
I agree Goldbacks are niche but think everyone should own some and as cheap as they are, you can use them as campaign contributions for your state representatives to gain an understanding of the product and the appreciation for real money.
Tom, that is one usage example I've never heard before. Great point!
Very interesting. I love going to my local gold shop and buying . I have been getting a better deal . Thanks for posting.
You bet!
If you want to know how much you're being ripped off on bullion just look at the spread between what you're paying and what the dealer is paying to buy it back. Especially silver. The premium is a long term loss right out of the gate.
Funnily enough gold dealers like to make money too.
When gold dealers stop making money, they will close their shops and no-one will buy your gold.
As a new stacker I appreciate the info, and suggestions!
Congrats on starting your stacking journey!
Stay focused))
Keep building
I have had a coin shop offer 25% under spot to my face. You must be dealing with very nice people.
That's horrible. Find a new shop.
same recently. he wouldn't tell me the price on the phone, drove out there twice (they were closed the first time randomly), then haggled me for a half hour, got it $1.50 under spot - he wanted around 25% under too - then didn't even test the silver when he paid me - I'm def not buying OR selling there again! Probably riddled with fakes, and horrible experience. I plan to leave some negative reviews / warnings. Still regret selling.
Excellent video! Loved all the comments and insight.
Glad you enjoyed it!
Every coin and jewelry shop ive ever been into have been snakes. Its not a steryotype. These people will ripe you off if you dont know what youre doing.
Find a new shop T. There are good folks out there.
Same better to buy online then drive hours way to find a good shop
@@williamjones7115 If you have a good shop, they can ship to you.
True go to the refinery's no middle man they will give you a better price 😂 !
I will always use cash and go out of my way to get my gold from coin shops
Bravo sir!
Really enjoyed the interviews, much appreciated!
Glad you like them! Thanks for watching!
I am new to all of this gold buying. What does LCS represent?
There is 31.1 grams of gold in Krugerrands . They simply add 9% copper to make them more durable which is why Krugerrands weigh 34 grams .
Yup
in 2020 i asked my lcs for different forms of gold and silver and he had it at that time. now when i go in and ask for certain gold products he dosent have any of what im looking for. while i trust this guy ive spoke to 2 or 3 other lcs and they seemed off putting. your guy makes a good point about face to face point of sale transactions but it also works the other way where you just dont get a feel that the lcs guy is being straight up with you. the purpose of silver seekers videos is to show stackers to shop around like when you shop for a new car, etc.
Here’s the deal with the “misconception” about buying from exchange and then selling to coin shop. There is a greater sense of “security” (right or wrong). Mentally, you feel like you are less likely to get FAKE bullion (due to regulation that the online dealers are subject to). With an LCS, there is a certain etiquette to where you don’t want to ask the dealer to verify the bullion is genuine in your presence. So you have to be okay with not checking everything until you get home. If at that point and rare chance something isn’t right (let’s just say it was the ONE time a dealer didn’t do a COMPLETE check with say Metalytics and something slipped through), you now have an awkward situation, where you have left their store with possibly thousands of dollars in product and you have to get resolved. Will the LCS accuse you of trying to “get one over” on them and future relationship becomes strained? Just my perspective on possible reasons why.
That certainly happens.
Some people ask the dealer for verification - weighing, measuring, testing - before buying. There's nothing to be embarrassed about being careful.
If it’s a large dollar amount I wouldn’t hesitate to ask about verification.
If they refuse to verify, probably better not to buy from them as they are unreasonable.
I had to lol at "grumpy old man". That was exactly my first experience as a kid visiting my first coin store. I remember the shop-keep had a gripe about me, the coins I brought and my obvious ignorance before I had barely said ten words. It made my granny laugh. For years, I simply referred to him as 'the crass old fart'.
I personally avoid anything numismatic, limited mintage or graded coins, worthless premiums on all of them. I'd rather get more gold for that extra 5-20%. It easily ads up once the stack grows. By the time you reach 10 oz you easily had one extra oz with this strategy.
It depends, they tend to have a much higher percentage increase in gold boom times and are also a hedge against confiscation. That is for pre-33 graded rare date gold. You can easily 2-6 x your investment. At least history tells us so.
@@StackingSurfer Just remember that what was done in the past may be done differently in the future. Remember that during the previous confiscation the dollar was backed by gold. Today the dollar is backed by (con)fidence. Though if they decide to confiscate anyways just to destroy the prosperity of less than 1% of the population, they could make it absolutely all gold the next time.
I have just a few goldbacks because they're cool. Also, I bought them as the least expensive way to meet the minimum for free shipping when I was close to the minimum.
There's a big difference between a coin shop and pawn shop. A coin shop will give you closer to market and a pawn shop will try to buy for half to third of market
Silver Seeker calls nationally when he’s doing those random cold calls to shops. It’s not just his region. He did a video recently highlighting the regional differences
Thanks for clarifying. I don't watching his channel, so I couldn't comment further. One of my points last week was to avoid channels making broad statements about how things are based on a couple of videos. An example of this could be that shops won't give accurate data over the phone because they don't have time or are tired of these calls eating up their time. Just for a little perspective, my shop posts online when business is slower. But if they are completely slammed like they have been the last three weeks, they put all their focus to walk in business. Thanks for watching!
Awesome interview bro. Your LCS guy is a smart dude.
Thanks Triple P! Appreciate you!
and another awesome video. I always learn something. thanks.
Excellent interview. I think the communication issue is more generational than cultural. The younger generations have grown up with their faces glued to a phone, tv or a computer. They sadly have no clue how to communicate with their fellowman in person. I enjoy speaking with my lcs folks. They are all different in many ways and I enjoy “picking their brain” on their outlooks and opinions. Cultivating a relationship or even a friendship with them can never be a bad thing. This is just one old dog’s opinion. 😂✌️
Valid points! Thanks man!
One of the most first world problem I’ve ever seen, keep it up loving the vids 👍
😂 thanks!
Greatly appreciate the interview
Thanks Jimmy!
Great video CC 👊🏻😎 i agree 100%
Thanks bro.
LCS by me is Monday to Friday 10 to 5 and now weekends I can't afford to miss a days work to shop for Gold that's why I don't go there.
Like # 729 Who is going to the 41st annual conch republic celebration in Key West on April 21? It’s a week long celebration when Key West tried to exceed from the United States back on April 23, 1982 and declared its independence.
I buy mostly bullion, so it really doesn’t matter to me where I buy. The problem I have with shops around me is that they seem like they’re always trying to size you up to see what they can get out of you, and if you’re worth their time. There is a shop about 30 mins away that is excellent, but by the time I spend the gas and time, any deal I get is basically a wash or worse. I can shop 4 or 5 reputable places online, and find good deals that the local shops really don’t beat unless I try to haggle, and that’s just not worth my time.
Nice interview, good information 👍
Thank you!
Enjoyed your program and you it it about where to buy . Most people don't know who to trust and most think of coin shops as pawn shops. also not knowing much about gold and silver.
Very true. Some are bad but I believe most are good when given the chance.
Great interview! Thanks
Thanks for listening!
Regarding online versus LCS
I’m lucky to have a good local guy but I’ll order online if the deal is enticing enough- like sovereigns for the premium of generic stuff, etc
Enjoyed the conversation and agree that local coins shops are just as competitive as the online shops. Although, there is one shop in Houston on the feeder road of I-10 freeway that was the classic grumpy old man behind the counter. Further to that, the off duty security (uniformed) cop actually walked right up and stood behind me as though I had bad intentions. I decided to buy my monster box elsewhere and never returned again. Since that time I found three other local shops that are very good to do business with.
Choose wisely.
Good info. I think I know the shop off I-10. Would be interested to know the other shops u like to deal with. I haven't found one yet...😁
@@1011Shke Houston Numismatic, Royal Gold, and Eagle gold and coin exchange (Pasadena) are decent shops. Call first for current pricing. I would advise not to complain about the high premiums currently in play with all dealers. It is what it is and just a market reality. Shop around.
@Klaatu barada nikto * thx ! I don't complain but as I would get to know them more I think they would understand why I might not buy items with high premiums. And I'll add this...if I like the atmosphere and the treatment and the personality of the shop, I'll pay a little more than what online shops charge just to have that contact close by. I'm not trying to flip or invest per se, I feel like it will be years down the road, 🤞, before I'm selling. Thx again for the info, I appreciate u taking the time to answer. Good luck, take care, stack well.
I'd love to have an LCS to do business with but in Sarasota County, Fl. there are none in South county and the nearest one (other than a pawn shop) is 20-30 minutes away and just not convenient.
I have horrible choices were I live too. Which is why I sought out this one a couple hours from my house.
Wow, Avenue Coins and Jerry. My old coin shop in Stockton. I miss that crew. The owner, I think his name was Robert, was a cool guy too.
Yeah, great people!
Yes, part please.
I’m currently trying to finish up my Mexican gold set! This is purely for me so I don’t mint spending high premium $110 for a dos pesos
Very informative video nice job guys thanks
Our pleasure! Thanks for watching!
Grumpy Old Men rock...haha. Great video.
Haha thanks
Great video, I’d like to see part 3
🔥🦈🌊
Thanks brother! Hope you're doing well. Catching up on your vids meow.
If more people used goldbacks, more people would use them lol. It's more than a neat idea. It solves the inflation problem. Coin shops should encourage more people to buy and use them. It would literally improve the value of gold and use of gold.
Please explain how your example can't be done with gold and silver coins.
@@CampbellsCoins goldbacks are serialized. They are also micro measurements of gold. Serialized, makes it harder to fake and legitamizes the currency, creating more trust. Micro amounts make it so that you can buy a soda and bag of chips. Or tip your waiter. I have a couple dozen 1/10 Oz gold eagles. A) they're worth maybe $250-300 in gold, but have a $ denomination that is no longer relevant. Meaning you could take it to the bank and they'd give you $5. And if you wanted to buy a bag of chips and a soda, either the cashier will need to pay you back in dollars or you'd need to buy $300 worth of items. Even a silver eagle is worth $25+. A soda and bag of chips would be
Would work if the premium was equivalent to all the other gold premiums.
I appreciate the interview. I question some of what the man said and his motives. For instance, in the last episode, he derided the online dealers for issuing 1099s but failed to mention that everyone has to report to the IRS for quantities that exceed the minimum (ie 25 ozt Krugerrands in a 24 hour period) Plus he left out that JM Bullion automatically insures your Bullion when you mail it to them if you use their shipping label. Keep up the great work Campbell.
Hi Jeremiah. Thanks for the kind words! I wouldn't look into it that much. Sometimes in an interview, especially when it's being recorded, one forgets to mention specific points and sometimes things have to keep to the point of the conversation so the video doesn't go on forever. The IRS reporting is only for specific items and amounts, gold eagles for example, don't get reported. I didn't take the conversation in that direction because it didn't pertain to my question and I've covered IRS reporting in previous videos. Thanks for the info on the JM Bullion insurance! I didn't know that because I don't use them, and it's possible he didn't know either. The only thing he spoke to was the time before you receive your funds. I was the one who brought up the shipping theft possibility, erroneously it appears. Thanks for watching!
@Campbell's Coins I understand your point. I also appreciate your timely response and honest rebuttal. I have to say that I am amongst your viewers who subscribe to the fractional is better theory. The reasons are many, not the least of which because I can scratch the gold itch more times a month when I purchase tenths and quarter ounces. Thanks again for the great content and, as always, forever endeavor.
I see people commenting about how their LCS is badly priced....in my area they undercut online dealers by quite a wide margin, I usually shop at a small shop in my area and he charges about the same as the big shop in my area, they both beat even SD on almost everything
Another Excellent Post !!!
Thanks !!
Glad you enjoyed it!
Would love to see a part 3, great job as always! My question would be what does he think about foreign gold like Britannias ? I saw one in the thumbnail for the video and wonder his thoughts on Britannias specifically the Britannia fractionals like the quarter oz, they're so much less then Eagles and while they're foreign I mean whose not familiar with the British, they conquered most of the world at one time or another seems their gold above pretty recognizable?
You mustn't know too many under 35 types...They are for the most part, useless and mindless when it comes to real asset value...
Yes those are fine. I have maple leafs, eagles and Krugerrands. Any of the 6 or 7 major world mints you can't go wrong.
Gold is gold. Why call it "foreign"? By the way, three countries have better gold coins than the US. Suck on that, chumps!
My mission this week is to investigate several coin shops in my 50 mile radius area. My thought is to buy but also who I could sell to down the road when I would need to. I must admit as an elderly woman I am feeling a little intimidated. I have been buying online.
Great idea Annie! Figuring out who to sell to down the road is extremely important. Knowing they will be there for you is important too. Good luck with your search!
Why are you planning to sell to a shop? Have you considered selling to friends or family?
I think you will find it a rewarding experience. It is always a good idea to make relationships with local businesses.
@@painmt651 well said.
Great segment! Cheers 🥃
Thank you kindly! Appreciate you stopping by!
I wouldnt touch an older maple, it would need the security features now.
I got stung on layered 'bullion coins' from ebay once.
Really enjoyed this interview. Does California charge sales tax on bullion purchases? I get conflicting information. We have so few LCS's in my area that most low ball you so they can make as much money as possible. So lack of competition can result in low ball offers too. I will buy from local shops (when the price + premium is right), but try to sell only to regional precious metal dealers. I will buy from these dealers also when I can, but only have access to them a few times a year at coin shows. Really enjoyed these videos!
Thanks man. Yes, CA charges sales tax on bullion purchases under $1500. Over $1500, there is no tax, which is probably why you hear conflicting info. You make some excellent and valid points. It's quite possible. Thanks for watching!
Industry does not recognize any difference between 999 and 9999 .
Local coin shops don't have the variety of choices for product. Your purchase will be based on inventory. The weakness shows up greatly on silver sovereign coins.
No doubt and good point. But what does that have to do with the video? Haha
@@CampbellsCoins Towards the end you were talking about why people go online rather than visit a local coin shop. I will travel 100+ miles to get to the largest coin shop in AZ. Little choice for silver sovereign coins, like a philharmonic, or a kookaberra, etc. How about Noah's Ark? You go online to a few sites and you will find what you want. You also have more choices for silver bars. I go to my local coin shops. But, I have a sense what will be available. Right now junk silver is great locally at one shop..
@@mfb3042 Ahh, I see now. Your first comment just looked like a statement of availability. I just know the limitations of my shop. They will more than likely have the basics, but anything that is speciality, I know I'll have to shop online for.
Customers are given the stink eye when you go in to sell after they bought from you and paid your premium to keep your shop going. Think about it. It runs both ways. Customer paid 300 or 350 for a 1/10 and you go back in to sell and they wanna pay you melt. Come on, you know that’s what is done. You’d think the shop owner would be nicer about what they are doing. They don’t pay spot plus anything to the customer. It’s sad. Silver is only paid back melt. It doesn’t really matter what you bring in. This has been the case even back in the 70’s till this very day. I have a good LCS now so, for me personally that’s changed. Stackers can be left feeling ripped off. I think finding a good LCS can really be a game changer for a new stacker.
What are your thoughts about foreign gold like 100 Corona (0.9802 oz) and 20 Franc Roosters (0.1867 oz) and similar coins for low premiums and fractional coins?
Great if you like it. Not the most popular here in the US, so it has a low premium and a low buy back price. I think you emailed me and I will add it to the list of questions for part 3.
In Canada we get $50.00 more for the 5 9's pure gold coin. It's not discounted
That's not surprising Greg. I wish the US made some five 9s coins. Thanks for watching!
Thanks for the information as a beginner collector. I have one question though, what is your opinion on ancient historical coins, like a Roman gold coin. Do you think they are good investments compared to normal bullion? I know the premiums are insane but a lot of people do it
They're passion pieces. You'd be better off stacking current metals
Completely agree with AA assessment. If you like them, get some but don't go too heavy. Still to current metals. Ancient coins are super niche and it's hard to find people who are interested in them.
I agree- why complicate it?
Gold should simply be gold.
People like some designs over others. Some gold pieces offer more benefits than others. Some designs are more intrinsic than others and some designs are minted less. All of this drive popularity and price differences. This is why gold is not just gold.
Goldbacks have high premiums you also trade with a high premium. Easier to trade out of a building than one ounce coins right?
I'm glad you like them!
Enjoying this interview with a tall glass of Georgia Sweet Tea recipe
Haha nice! Thanks bro.
I'm pretty sure Silver Seeker cold calls by time zones or at the least neighboring states . And demographics also plays a great deal on transactional value .
Silver Seeker calls a few different states usually, 100’s or 1,000’s of miles apart.
My local LCS after spending at least 50 k or more , he only offered 25 below spot, forget it, have not been back
Yeah man, sounds like you need to find a better place.
They know what the buy price of their wholesaler is and you aren’t getting more than that.
@@VeteranStacker i have another dealer who gives me spot plus
@@doublejump6578 that’s better but sill not enough. It’s a shame that we are forced to use the money changers again so find the best deal you can. I’d recommend going to friends and or family to convert you money into cash. It’s better for both parties. Compared to LCS where the deal is in their best interest.
It is dealers like that who are guilty of pushing people to walk away from stacking physical metal and instead buying paper.
All my LCS overcharge so they won’t get my business. 1oz gold coins go for $100 or more over spot. Liberty coins usually sells them for $80 over spot so I always go with them or private dealers.
I've gotten my cheaper buys at coin shops, however my LC has weird hrs and it makes it hard to shop regularly
Many shops have odd hours and they close when many get off work.
Haven't seen the video yet but I'll tell you what I avoid: ASE, American gold eagles, (premiums) paper gold, paper silver, limited mintage collectible silver or gold, and of course goldbacks.
I think some of these lcss could certainly pay a lot better
I have bought from both but sometimes the shops do not have the selection of the online bullion dealers.
You're correct, most of the time shops don't. It's good to shop around.
I like rounds and bars 999 pure or better,
I don't want to pay high premiums for gold with other stuff mixed in it.
My friends wife has nothing except American eagles, she won't even look at anything else, she doesn't want to know how much more I have for the same amount of money..🤔
I don't understand why you stack high premium metal..
I only buy coins in auction format on eBay. I never purchase buy it now. Auction will give you FMV. I will also only buy slabbed coins. BE CAREFUL of sellers with poor scores and where there seems to be overriding bids on coins from either the seller or other parties.
In New Zealand, I would doubt any investor would purchase any gold, that is less than 999 gold, as you have to pay GST, on the buy, as it is not classed as fine gold.
Silver seeker calls shops across the country.
Gold Backs are great Gifts 🎁
If that's what the recipients like. I'm glad you like them.
@@CampbellsCoins well I wouldn’t buy them for just anyone. To be clear. But they’re great gifts for kids & young adults that are getting into stacking. Or anyone that’s into Precious Metals.
I would prefer an LCS, if I could find one to get acquainted with. Haven't had much luck in the Houston TX area so if anyone has a referral I'd appreciate it. As of last year or so I've bought all my bullion and coins online because of deals, something else I haven't found out of LCSs but I'd still spend money there if I got to know them and we trusted each other. A good deal is what we all always look for, money talks, it's the way of business, personal and professional.
what is your clarification to made statements?
Thank you 😊
Thanks for watching!
When you buy a 22ct gold Krugerrand you are still getting a full troy ounce of gold but with a little copper and silver thrown in for free.
Yup
Silver Seeker has something to do with this💯
I have several 5 nines Maples for the year they made them Valcambi males 10 oz 5 nines bars. Since they are so secretive and supply blank plachets for many countries they may be the source. Why pay for complex machinery twice. 🐥♥️
I'm waiting for someone to try and turn gold backs into a 'bar'
😂 they would be losing a lot of cashing doing that transition.
There could be a regional LCS cartel going on, pricing fixing and profit maxing!
Must have been when Trump deregulated the LCS industry, so it is all his fault. Or maybe Putin or maybe global clime change.
Reason is why some don't buy bullion from coin shops is many shops have poor customer service. Be honest and engage with the client and they will return
I just bought 1 EACH of the GoldBacks, from each Sate available. Just for a collecting standpoint. They're kinda cool looking too. Lol.
Haha! Glad you like them!
I bought a bunch too. Very cool product
In person they look amazing! It’s like a mirror.
I live in an area that is blessed with a dozen or more coin shops. Some of them are just plain rip offs! Some are excellent. The ones that are rip offs pray on the uneducated buyers, and are responsible for the bad rap coin shops sometimes get!
No doubt and great point!
I feel like people will get a lower payout for 999 in the future, being told the refining process has to separate the silver or copper from the gold. We gotta remember too, that cutting gold and silver was a tactic used by governments to keep the PURE metal for themselves. It may be just my paranoia, but to me the purer the better. That goes for anything. Would you want pure coke or coke that's been cut?.....
Haha interesting example.
If you buy fractional, buy the low premium like philharmonic, kangaroo, btittanias. Remember fractional premiums go both ways buying and selling.
Buy silver for shtf and bartering, gold for big purchases and general wealth protection.
People buy online for 1 reason. It's cheaper! And especially for bullion where the spread is huge compared to stocks, the price you pay is critical for investment returns!
Cheaper is better, which is why I avoid buying online. My LCS is cheaper for everything compared to anyone online. Shop around. Many LCS will ship across the US.
Gold is Gold 😩
I bought Goldback for the art. I don't expect them to be worth much because you can't test the gold due to the poly coat. Many RUclipsrs tried to test it and the best answer is "inconclusive". You just have to take the word from Goldback when they said it is gold. Reminds me of fiat.
Yeah that's a good point. I think the layer of gold is too fine to test. Neat concept, but that's it for me. Thanks for watching!
@Tactical RingWorm they did attempt to melt it down. One used a blowtorch, but the problem was still the poly coat. All he got was a glob of plastic. No gold visible. Like fiat it is up to the faith of the user to give it value. Like metals. Just because someone say it is gold or silver do you accept it out right.
My sentiments exactly. Artwork is great.....that's it.
@@lennybrewster4673 The 2022 Utah Goldbacks are marked "Specie Legal Tender " or something to that effect . South Dakota is in the process of getting in to the action and so is Wyoming And more are in the works !
Goldbacks can be tested in an xrf device but only a few larger coin shops have them. Trying to recover the gold with an uncontrolled flame like a blow torch simply vaporizes the gold. You have to use a temperature-controlled kiln if you wanted to recover the gold that way, but why would you. You lose all of the utility value of hyper fractionalized gold when you do that. A fool's errand. There have been no reports of deficiencies of properly assayed GBs or any counterfeits. That can't be said of coins or bars.
Help I can't find part one!
Should be the video prior to this one.
LCS pay is related to how much money they have on hand. This is why I am concerned that gold will increase to a level that most LCS can't afford.
Gold Eagles have higher premiums than Gold Maple Leafs in the US due to tax issues.
Yup