Best San Francisco, CA dealer? and/or Best online dealer?

[paulah]

Hi all,

I am newbie here, from Oakland CA. This question has most likely come up before.. but I cannot find it in threads (prolly not looking deep enough).

Could you please recommend
1) Does any know a reputable dealer in the San Francisco Bay Area?
2) Where is the best place to buy online?
3) What is the maximum that anyone should be purchase online?
4) I called a trader in Grass Valley, CA. Thought I would be able to there with chunk of cash and pickup gold, but they only have $8k in inventory. They said they would order for me and have it shipped to me in 2-3 days. So..? What is the difference between going with them and ordering online, ..I am thinking?
5) Is there anything that I should look out for when making my first trade for physical metals?
6) Is gold preferred over silver?

Thank you so much for your patience with my newbie questions!
Paula

[curmudgeonista]

Try Googling "coin shop, Oakland CA". You will probably find more across the bay, though. Also might check the local pawn shops.

That said, if you don't find a local dealer with reasonable prices, then online can be a good option... and shop the online dealers before you go out hunting locally so you know a good or bad deal when you see it.

Tulving has the reputation of being the best online for major purchases (good prices, but high minimums). Other popular online dealers include APMEX, Gainesville Coin, and Provident Metals. Plenty of others out there too, but be careful of pricing. In my experience, those that do not publish prices are to be avoided.

You may be able to negotiate with some local shops (typically not so with online vendors). Also watch the tax situation. If I'm not mistaken, CA requires sales tax on bullion purchases under $1,500.

[97guns]

Tulving's gonna charge you sales tax. im down here in san jose and have a dealer i work with, he sell's for $1.50 over spot on .999 stuff but has a box of junk that usually has some .999 in it that he sells at spot. all cash transactions are tax free no matter the amount. last time i was there he had 1 oz. liberty rounds and 1, 5, 10 ounce sunshine bars.

[Gcubed]

Tulving's gonna charge you sales tax. im down here in san jose and have a dealer i work with, he sell's for $1.50 over spot on .999 stuff but has a box of junk that usually has some .999 in it that he sells at spot. all cash transactions are tax free no matter the amount. last time i was there he had 1 oz. liberty rounds and 1, 5, 10 ounce sunshine bars.

Tulving's minimum is well above the sales tax threshold. You haven't dealt with him, have you? :vollkommenauf:

[StateofJefferson]

i strongly recommend Camino Coin in San Mateo, CA. I have many years of experience with them as a satisfied customer. www.caminocompany.com

[joe_momma]

I've used Silver Baron over in Alameda a couple of times - premiums weren't too out of line for the local coin shops, but I've not been over to see him in a year.

Had some luck with private party sales (e.g., Craigslist - but would not recommend doing that now). You may be safer looking to the online dealers - price wise they'll be similar to coinshops, with a slower delivery time.

(Tulving is a noticeable exception, but his minimums really, really hurt.)

[HistoryStudent]

Tulving's minimum is well above the sales tax threshold. You haven't dealt with him, have you? :vollkommenauf:

Be nice don't get banned.

[Gcubed]

Be nice don't get banned.

Facts are often not what some would consider to be nice. Are you trying to bait me? I think that is against the rules.

[Sindgefallen]

I've used Silver Baron over in Alameda a couple of times - premiums weren't too out of line for the local coin shops, but I've not been over to see him in a year.

)

I am an Oakland native too, glad to see another from the bay on here, welcome.

I've used them before, not since 2008.

Online for small purchases, APMEX, CNI, and Tulving for large purchases.

Silver and gold both.

Best shops I know of in the east bay are in San Ramon but I cannot remember the names as it has been a couple years and the Castro Valley coin shop but the guy is contankerous kitco lover so he takes some getting to know.

The absolute best shop I have ever done business with is in Modesto gold, jewelry and coin. http://www.modestogold.com/
The old man and I developed a good relationship and he was a fair dealer. Always looking to move product and not worry about premiums. They were always fair. Been a few years since I have been there but they were great. The best actually.

There is a jewelry shop in south sac that usually moves junk silver for below melt. Land Park gold and silver.
Limited stock but good prices and lowest premiums I have seen since 2007.

[lhslancers3270]

Facts are often not what some would consider to be nice. Are you trying to bait me? I think that is against the rules.

Tulving is the best for either side of any trade.

[joe_momma]

Facts are often not what some would consider to be nice. Are you trying to bait me? I think that is against the rules.

Not to get banned or into a flame war - but I thought there was never any sales tax on PM purchases (this applies to bullion only - not jewelry) - or perhaps it was more that $500 - am I misremembering?

[paulah]

Tulving's gonna charge you sales tax. im down here in san jose and have a dealer i work with, he sell's for $1.50 over spot on .999 stuff but has a box of junk that usually has some .999 in it that he sells at spot. all cash transactions are tax free no matter the amount. last time i was there he had 1 oz. liberty rounds and 1, 5, 10 ounce sunshine bars.

Hi, May i get dealer contact info in San Jose please? Thanks!

[paulah]

Thank you all for your replies! I really appreciate all the leads! I will keep you posted with my experience locally or online. :)

[curmudgeonista]

Not to get banned or into a flame war - but I thought there was never any sales tax on PM purchases (this applies to bullion only - not jewelry) - or perhaps it was more that $500 - am I misremembering?
California defines "sales in bulk" for coins and bullion as a single transaction of $1,500 or more and that is exempt from sales tax. A single transaction totaling less than that is taxed, though.

http://www.boe.ca.gov/pdf/reg1599.pdf

[97guns]

Tulving's minimum is well above the sales tax threshold. You haven't dealt with him, have you? :vollkommenauf:


he lives in california, tulving is in california, you obviuosly dont live in california do you?

[97guns]

Hi, May i get dealer contact info in San Jose please? Thanks!


falcone coin on lincoln ave

[Gcubed]

he lives in california, tulving is in california, you obviuosly dont live in california do you?

Hey Genius, Tulving WONT do a transaction so small as to require collecting sales tax. I've lived in California and I deal with Tulving.

[Sindgefallen]

Hey Genius, Tulving WONT do a transaction so small as to require collecting sales tax. I've lived in California and I deal with Tulving.

This is absolutely correct. The sales tax threshold is $1500 so above this amount there is no sales tax.

http://www.boe.ca.gov/meetings/pdf/N3_Coins_and_Bullion.pdf


A ''bulk'' sale is currently defined as a sale of bullion or coins having a market value of $1,500 or more, or its equivalent, by Regulation 1599, subdivision (a)(3)(A).

[97guns]

Hey Genius, Tulving WONT do a transaction so small as to require collecting sales tax. I've lived in California and I deal with Tulving.

thank you for the compliment,

i havnt dealt with him because when i emailed him about making a purchase i was told he would charge sales tax to me ?????

[paulah]

hi all...

i have emailed hannes a couple times since the start of this thread.. and he has given prompt responses. :) he has a 'special' on 90% silver. a little steep for me to get into right now. getting into 40% would be a little easier.

what is your recommendation into getting into 40%, 90% silver and silver rounds?

thanks! paula

[Sindgefallen]

hi all...

i have emailed hannes a couple times since the start of this thread.. and he has given prompt responses. :) he has a 'special' on 90% silver. a little steep for me to get into right now. getting into 40% would be a little easier.

what is your recommendation into getting into 40%, 90% silver and silver rounds?

thanks! paula

Go with the 90% silver. It is just more excepted than 40% and if the prices one day blew to extremes then refiners will take them where others may not be as savvy with it or may not want it.

Silver is a great investment but take advantage of this pull back, especially if we drop to a number not expected because of the panic selling going on in world markets. That would be great.

[AgShaman]

[QUOTE=paulah;164768]hi all...

i have emailed hannes a couple times since the start of this thread.. and he has given prompt responses. :) he has a 'special' on 90% silver. a little steep for me to get into right now. getting into 40% would be a little easier.

what is your recommendation into getting into 40%, 90% silver and silver rounds?

I think people interested in getting involved with silver meet the first fork in the road at 40%.
That's the fork in the road that distinguishes the savvy from the fools. (I know...a bit harsh)
Buying 40% outright would be akin to buying investment bars of copper....you must then look to emulate "Hungry Joe"...and search out someone to "trim" for your profit.
Find the right LCS...and you can get .999 pure at spot prices. Ask them what they have "slated" for the melt bucket. 2010 X-mas rounds are the best "fatties" (they usually measure over 31.1 for some reason)...and they are prime candidates to get shipped off to "Melt" and turned into a 2011 X-Mas round or something else. Sure, you'll not be giving them as gifts during the next holiday season...but who cares?...it's cheap silver.
Come across a 40% JFK...by all means, tuck it away and save it....but there are better grades of precious to put your fiats into.
Just my opinion....but 40% is for suckers (from my vantage point.)

[paulah]

[QUOTE=paulah;164768]
Buying 40% outright would be akin to buying investment bars of copper....you must then look to emulate "Hungry Joe"...and search out someone to "trim" for your profit.
Find the right LCS...and you can get .999 pure at spot prices.

What is "LCS"? Thanks!

[AgShaman]

Local Coin Shop
The place where many here develop a "favorite" to deal with
A place to buy both large and "smallish" amounts of the precious....when looking to operate discreetly via the "cash n carry" methods

If you build a good relationship with an LCS...it could also provide you an alternative location to sell some precious (often times at spot) if your looking to "realize" and take a profit...since many Americanos are cash strapped and the Craig's list and E-bay venues get less appealing as PM's move north in prices.

Many members here use the LCS to conduct their GSR trades (another way to build your stack of gold and silver via the ratio)....I've not yet used them to conduct a GSR trade myself...but am planning to do such a maneuver in the near future.

It's good to have a connection to an LCS (or plural)....ie. needful/helpful info. and sometimes you may wish for a faster turnaround in transactions....faster than boxing up items and shipping them...or waiting for a shipment from a dealer or Mint.

Usually...the best pricing will be found at the Mints and online Dealers....nevertheless....the LCS can be fun and fill certain roles.

[paulah]

Local Coin Shop The place where many here develop a "favorite" to deal with
A place to buy both large and "smallish" amounts of the precious....when looking to operate discreetly via the "cash n carry" methods...

...less appealing as PM's move north in prices....

...GSR trades (another way to build your stack of gold and silver via the ratio)....I've not yet used them to conduct a GSR trade myself...but am planning to do such a maneuver in the near future.

Invaluable info! Thanks!

Last newbie..prolly mundane question for today.. (hopefully)
"PM" = ?
"GSR" = ?

[AgShaman]

Invaluable info! Thanks!

Last newbie..prolly mundane question for today.. (hopefully)
"PM" = ?
"GSR" = ?

PM=Precious Metals
GSR=Gold to Silver Ratio (currently around 40:1...and well worth looking into IMO and a primary motivation/reason for me visiting this forum)

Good luck in your quest! I hope you do well.

[curmudgeonista]

Good advice here... though maybe soft-pedaled a little on the 40%. Let me say it loud and clear - DO NOT BUY 40%. If you find some floating around in circulation, by all means grab it, but don't go out and buy it. Some 90% would be okay, but .999 is where you really want to be building your core position. Add the 90% later (JMHO).

Find the best deal you can on .999. You'll hear differing opinions on generic vs SAE's (I know there are other options like Maples, but let's keep it simple for now). I favor SAE's even though the premiums are bit higher. At present we're usually getting most of the premium back on the sell end.

It's not unusual for newbies to go through an "adjustment period" getting used to paying premiums when you thought spot meant the price, is the price, is the price. You'll get over it.

The spread is really more important than the premium. That's the difference between what dealers are charging and what they'll give you back for it. A few rare instances like Irons' LCS make no differentiation, but most dealers are paying more for SAE's than generic now. My LCS pays $2 more for SAE's than everything else lately (including Maples, which typically carry a premium in between generic and SAE's). Based on that, my rule-of-thumb at the moment favors SAE's if I can find them selling for $2 or less above the net price of generic. I may even give up 50c of spread just to know I've got the most popular silver bullion going (SAE). Never any question about finding a market for them.

[engineear]

An LCS I've done business with wants $3.30 over spot for an SAE...too high, average?

[Gcubed]

An LCS I've done business with wants $3.30 over spot for an SAE...too high, average?

Damn LOW compared to APMEX. SAE premiums are "bat****" crazy. Not as bad as '08 though.

[engineear]

Thanks. A few calls to the locals and SAE's go for $3-$4 over spot. Was gonna add to the stack but will wait another day. When spot was $36 the one LCS SAE premium was $3.30. With spot today @ $34.30 they want $3.85 over...guess they need to cover some that have been there awhile. I may have to drive farther but it's worth it.