I talked to a silver exchange in Dallas. They told me they discount unknown silver coins (such as First Magestic) significantly more than silver eagles. They find varying purities from coin to coin. I want to buy silver from FM but this has me concerned. The exchange says any documentation that comes with the coin is simply not trusted by them. Anybody know more than me? First magestic do not buy coins back. I believe Kitco does.
funny, I have never had an issue buying, or selling sunshine mint, or gaming silver tokens for the value of their silver at any point since 2001...and I avoid dealer or coin shops that play games, FWIW.
10 oz. at Gainesville going for $246.
10 oz. at AG going for $270.
They are marking it up quite a bit over spot, especially when there is no middle man.They need to sell this at most $1.00 over spot to be competetive and to sell more to the public instead of the Crimex!