LCSUSDT
LocalCoinSwap / Tether USD
crypto

Decided to smash up an ounce for 7 1/10 lady's and some cash back.found a LCS paying 98%. Just listening to the advice here about getting more fractionals.

Your LCS and any online Gold dealer will pay you with a check. What is wrong with you people?

Idk about where youre at, but private sales in NJ tend to have some profit taking atleast up to +2 an ounce unless going to a pawn or LCS.

Wouldn’t an LCS owner short silver for the amount of ounces he’s buying? Wouldn’t that balance market risk and leave you with predictable profits from the difference between selling/buying price and spot?

Obviously. But $40 is insulting low. LCS can’t handle the heat. 🤣

I've done gun shows and I used to run a surplus store, so I'll admit my knowledge of how pawn shops and LCS operate is limited. However most people I know that run stores like that would definitely consider making an offer to someone in the of the business parking lot poaching customers. Especially when the norm at these places is to lowball someone who is always shooting high and meeting them in the middle. OP didn't say they tried to haggle whatsoever.

The “supposed tightness” in silver is *retail* not industrial. Industrial channels have an e turkey different procurement channel. They aren’t buying from your local LCS/dealer.
As such retail demand is a lot more segmented into products (ASE vs 10oz vs 100oz all have very different demand points).
Industrial generally has a standard size with little variance on delivery and pricing based on long term contracts (volume).
It’s convenient for some folk to conflate the two “because it’s all silver” but supply chain economics work quite differently across domains.

Thats silver foil, I'd guess 2ish ounces of 925 per holder. Only worth about $40 an ounce at the LCS, they arent paying much for 925 right now. Its probably priced right about whats is worth as a candlestick holder, which is more than you'd be able to scrap it for.

Well yeah. That's how it works. That's *literally* economics 101. In a functioning market, a buyer decides what they're willing to pay, and seller decides what they're willing to receive for their good or service.
In this case, the buyer, SD Bullion, has clearly decided they're not willing to spend very much on silver right now. Which means, people trying to sell, can choose to sell there if they wish, or seek elsewhere. This is all like, dead simple. Nobody should be shocked that metal dealers are only buying at low prices when metals are experiencing extreme volatility.
>If selling I am looking to take care of myself, not SDs overhead.
Ok... right. That's exactly the point. Your sell according to your interests. They buy and sell according to theirs. If your price and theirs don't align... you don't do business with them. It's that simple.
Edit: to be clear, I don't give a shit about SD Bullion. I've never shopped there. 90% of the silver I own came from a LCS.

When they call back...tell them you had your neighbor return the package back to the post office for shipment back to the company, and she forgot to get tracking like you asked her to do! Go to your nearest LCS and sell...turn that 7400+ into an ounce and a half of gold and chuckle all the way home!

My LCS is similar he takes a flat $ amount on gold on both ends which he is transparent about, and for silver will often offer at spot even for premium stuff simply because they bought well. Unfortunately I think they got stuck with some stuff at the highs during the melt up to 80 so hes been telling me lately the premiums will return due to the shortage.. but its still literally 5-10$ below the online vendors minimum anytime I go for an ounce of silver.

LCSs not buying silver are small
Mom n pop shops that don’t have the credit/money to buy.
Find another LCS with refiner contract.

LCS is full of sellers lined out the door, 90% sellers selling mostly 90%, mostly old white people in semi-rural area on the edge of a more urban area, looks like they are mostly selling old half dollars and the like, i'm guessing they are getting a one time pop of like $300-500. then what? that will last like 2 weeks worth of bills. okay, but now you have no wealth, nothing left to sell. all that is going to refiners I guess? this is just a fleecing. even if gov. does something weird to cap the price like windfall taxes or whatever they have no assets to save for the future. just bills and liabilities like cars, electronics, all stuff that wears out. I would keep buying assets in these times just for the sake of having assets, even if the price wasn't going up.

A lot of us buy both on and off grid. On grid is trackable, be it by credit card ACH venmo PayPal Etc there is a record. Paying by cash in person at your local LCS or in person peer-to-peer there is no record.

Use calipers to measure . Than Amazon/ebay/LCS

I’m sitting on roughly about 3.25 ASW of 90% foreign silver coins mostly from Australia and France. They’re in bad condition and only for melt. I understand silver is pretty high rn but at least from my experience nobody wants to pay well especially for 90%. My LCS is offering $36/oz for them. Is there another place that would have a better price?

Just went into my LCS and they only have 2-1oz bars but only four 1/2oz rounds and two 2oz rounds. A month ago they had a TRAY of generic rounds. Three months ago they had THREE TRAYS.
I picked up 1.5oz and wish I had the change to get the last 1/2oz round.

I doubt anyone actually is.
This sounds like a “I really *don’t* want to buy from anyone, unless they’re desperate enough to need a lowball offer” message.
The person so desperate to sell they’d prefer hearing “$40” over “not buying” may or may not come along. If they don’t, I assume the LCS doesn’t mind not buying at all right now.

I'm waiting on an order from a different company right now and my payment cleared a week ago. It's a bit slow, but I imagine with the large uptick in interest and the holidays wrapping up things are just moving slower than usual.
I wanted to go to my LCS yesterday (appointment only place) but the guy said they were totally slammed and had no availability. 🤷

There’s tightness in the broader market but an LCS works off the supply and demand that they see. Not all supply and demand curves are the same. The COMEX needs 1,000 ounce bars. No LCS would want that.
At a local level you have buyers who come in to buy some silver and few have the $8K needed to buy a 100oz bar. The buyers that are in the market for 100os bars are largely not walking into their LCS but doing deals with online dealers or refiners. Those companies face slightly different supply and demand curves which sets their premiums.