Coin Shop Owner Exposes TRUTH About Silver and Gold

so you may not get rich off stacking gold and silver but buy your gold and silver online from SD bullion new customers get gold or silver at spot by visiting sdbullion.com new okay here we are at the world famous Harry's coin shop in Beaverton Oregon you can kind of tell it's Oregon overcast uh we're gonna have a chat with Harry and see what's going on right now with gold and silver are people buying it what are they doing let's find out we've had some people with some big orders of 90 really yeah the the fear of needing it for barter you know the smaller recognizable increments dimes quarters Etc and I think that's what's Driven constitutional yeah you guys have uh a nice selection of a constitutional silver here you got some Mercury dimes a lot of great stuff yeah people need to buy uh junk silver this is definitely a great place to come what's your pricing on uh junk right now uh we're selling it at 20 times the face value okay I think it's very competitive if you compare yeah so that's only like five dollar premium really yeah it's it's very similar premium to what the the bullion pieces are going for okay so uh if people are coming in to buy silver um you mentioned they're buying a lot of the Constitutional but what about like rounds coins bars what do they what are they into for that we've been selling a lot of 10 ounce bars and a lot of the what we call generic rounds the non-governmental rounds because people are looking for the the most weight for the least amount of Premium right right right so people aren't really going for the Eagles these days we're at 33 on that which is you know ten dollars over spot oh yeah I see oh yeah you guys got the prices right here that's super handy for people coming in yeah it's certainly no secret we don't want to keep it a secret you know I think an educated customer is as a as a valuable customer yeah no doubt well let me ask you this so you guys do have a lot of stuff here but I know that it must have got bought up like crazy just the last week or so uh so if you wanted to order more silver more gold today would you have to wait a bit for that to come in or not terrible but yeah it might be two three days maybe a week to get fulfillment on the order okay unless it comes in over the counter to us which every day thankfully uh things do come in so people are selling right now too they are you know bills come up life happens for example last week we got cleaned out at one point there was we ran it completely ran out of bullying really and we were completely out of eagles but you know luckily like Harry was saying people come in and sell this stuff so we were lucky enough to buy a monster box and then you know that kind of helped us replenish and wow because we have others sources of to get product in but yeah it was just last week and week before that was just a little crazy we have a secret too yeah that's awesome what do you guys pay for something like that if you if you came in today we would offer you spot plus four dollars per coin wow everyone who stacked Eagles back in the day when we were getting them for a three dollar premium you know we're we're doing really well and people were making fun of us three four years ago saying why don't you just get rounds because it's a dollar premium why are you paying a three dollar premium for the Eagles Silver's silver but right now that's certainly not the case no it's definitely not the case and um it makes a difference what you bring in we'll pay a dollar over on just generics but on the on the Eagles it's four yeah so I mean I guess people that were buying uh silver rounds for a dollar premium they're still getting that premium back now oh sure it's just getting bad there's just that much demand for it yes do you feel like um we're gonna enter kind of like a Mania phase here I mean I know the banks going south is it's kind of a big deal and freaked a lot of people out do you feel like people are calming down or we're kind of ramping up you know we're in a 24-hour news cycle the latest story tends to bump last week's concerns off the off the table right so things have quieted down a little bit however you know another bank failure or threatened failure would drive it break back up again it's not going to turn into a contagion because they basically bailed out the banks right but you can't keep you can't keep taking from the producers and giving to those that aren't producing and expect that to be a long-term strategy if you if you if you punish The Producers by higher taxes and reward those who aren't working with subsidies you get more people who are taking and less people who are willing to be taxed so I think long term that's a big problem yeah and also when they say oh we're not going to have the public pay for these bailouts it's going to cause inflation when you add you know 300 billion to your balance sheet so we we are going to pay for it one way or another exactly yeah inflation is attached exactly it's the worst tax because people don't even realize it if you buy things I.E food you're going to be taxed yeah uh well let me ask you this so you guys do uh bullion obviously you've got a ton of stuff here and then you got the 90 percent you guys have got uh ancient coins down here looks like from what I remember um and then obviously you've got all the U.S mint numismatics and stuff over on this side yes what do you guys sell the most of uh is it more bullion or do you guys more just do numismatic coins from a unit standpoint it's about equal okay but because of gold and its price point definitely our highest volume would be bullion relatively gold but we really are a full service coin shop we we don't want to just be a bullion dealer as important as that is because we respect the hobby we are collectors ourselves and I never intended to be just a bullion shop yeah we even have supplies that whole wall is full of supplies for collectors yeah that's awesome it's great to be able to buy that stuff locally because you know sometimes when you buy it online you're not exactly sure if it's going to fit your tube or you know whatever and so you can actually try before you buy you know that actually that thinking kind of works here too because you can certainly buy gold online and we have formidable competitors but it's so wonderful to have someone stand on that side of the Showcase and have somebody handed a gold ounce and say have you ever held an ounce of gold right because you can't do that online and once you once you hold it in your hand you can't help but fall in love with it that's so true gotta love the krugerrands what year is this one yeah I definitely like the older ones just because there was no like you know US Mint stuff at that time the the Krugerrand was the first one ounce bullion coin in the world prior to that there were 100 Coronas from Austria which were 0.98 and you had the Mexican 50 peso at 1.2 Troy but that was the first even number bullion coin wow still neck and neck with the eagle as a bestseller worldwide has this been the case for a while where you guys are just kind of light on gold I mean are people buying a lot of it or I mean they'll come in and buy you know to the Limit the legal limit of cash really without having to report it so we we keep it at 10 000 or less and so we have people who will come in and say what can I get for ten thousand to have it on hand has been a little bit challenging definitely so if someone did want to make a bigger purchase let's say twenty five thousand dollars sure what extra steps would there be uh you know beyond just handing you the cash and walking out the gold it would take a personal check or and that would have to clear and then we would then Source the gold for them or wire transfer the money to us and we can place the order almost immediately and depending on the the supply situation we can usually eat two to three business days have it in their hands so if they wanted to pay with cash you guys wouldn't do it because of the 1099 requirements and stuff we'll do it but not more than 10 000 in a transaction on a given day okay I see yeah well the thing is we could do it but the thing is we have to fill out the paperwork for the anti-money laundering and stuff right but really it comes down to the well you know it's not illegal to give me 25 000 in cash I've just got to report it and in seven years here in the shop no one has wanted me to do that right exactly so people obviously they don't want this paper trail going right to the IRS saying hey this is what I'm doing with my money they'd rather just pay cash under 10 grand or do like a check or wire like you said it's a quiet asset and people want to keep it that way yeah here's a good way to put it yeah that's definitely in their best interest right you don't want to be screaming from the rooftops you know hey I own gold and silver my house um you guys have some pre-33 which is always good again not as much as we'd like but that's been moving almost as fast as the bullion really absolutely I remember like probably five years ago pre 33 was pretty much all like at spot from what I could except for the higher grade stuff and now it seems like it's got more of a premium on it right it does uh particularly the smaller increments what's the year on that one 28 28 yeah in 1928 you could buy a man's beautiful suit of clothes a nice hat and a great pair of shoes for twenty dollars wow and the thing about it is for what this is worth you still can because for 2195 dollars you can get a truly excellent suit a great pair of shoes and it's really evidence that this held its value right gold held its value over time so you may not get rich off stacking gold and silver but it's a way to preserve wealth here's another example if I made my favorite one to tell newcomers to the Hobby is I happen to learn to drive in 1972 and gas was about 25 cents a gallon oh wow and we sell these for five dollars each at today's price and so what I like to share with people is if it's the right quarter gas is still a quarter a gallon right it needs to be the silver yeah so holding on to this quarter may not have made you rich but it kept you even which in an inflationary world that's not a bad win oh that's definitely a win I mean that's one of the reasons I love to stack is just because it's going to retain its value and who knows what's going to happen over the next you know 10 20 years nobody knows yeah exactly that's kind of cool about the gold though I mean can you imagine if there was two people side by side and one of them held on to their gold coins obviously they would have had to hold on to it through 1933 but if one person held on to their gold and the other person just took uh you know twenty dollar bills obviously the person with the gold is crushing it without a question there were 20 bills in 1928 and it buys very little now but that that coin which was equivalent to the bill at the time will buy what it always bought one of the great things about gold retains its value So speaking of 20 bills you guys do notes like currency as well yes we do see we got over here because I I'm honestly not I've never really collected it I don't really know much about older currency um but I do know about the um silver certificates like this one right here well here's an example of Adrian and I accommodating our customers because neither of us have ever been collectors of paper but people come in that want it yeah if you want it we'll get it sure so what would be like um probably your most expensive uh note that you guys have probably this North Africa note this was uh issued in World War II in North Africa with a yellow seal on it to our soldiers and this is also a star note which means that serial number had been used once before the printing was defective they destroyed those notes reused the serial number and by law they have to put a star next to it so this is a very collectible note that's crazy but so I can still spend this for a dollar today you could but it's a 300 plus collectible right right right here's an interesting note from World War II it's called a short snorter and some Soldier even wrote that on there which is unusual but what they would do is they would pass this around you know Howard Cooper would sign it and then he'd pass it to another guy and it would go all over the fleet or all over the theater of battle and be signed by different soldiers and that's a very uh it's a very popular subset of the collecting hobby so is this if you flip the note over is this one a silver certificate from 1935. look at that that is so cool I wonder where those people are or where their descendants are nowadays you know what I mean yeah everywhere hopefully that's kind of one of the things I like about junk silver too is you never know who held it in their hand some of the older coins like it could have been a famous person we just don't know where you get into the Ancients you really could Wonder okay we gotta look at the Ancients because like I said I don't know much about uh notes but I really don't know anything about ancients I mean there's a guy on ancients okay I just find it interesting I I for instance most of these are coins from ancient Rome and this is a Denarius a Daenerys it is said in the history books that this was a day's pay for a Roman Centurion and interestingly think about this this coin is worth about 160 dollars okay probably a decent days pay for somebody to even today so yeah further evidence that this stuff holds its value over time over Millennia well how much silver would you say is in a coin like this compared to like a quarter or a dime or probably somewhere between a dime and a quarter okay yeah okay so but that one wouldn't have been around like when Jesus was alive this would have came after this would have been uh this one would have been just after from 80 oh actually just before 85 BC this one would have been quite a bit after 117 A.D if even if you don't know ancient coins whatsoever you could put this this coin in particular in someone's hand and they're going to say wow I think that's ancient I mean it just screams at you yeah it definitely does certainly doesn't look like anything that'd be made today exactly but we try to feature World coins as well I mean we try to truly it's a particular Love of Mine this showcases the Ancients and the world coins and so we try to have a selection of world coins for those who who prefer that and actually I find it amazing that majority of coin shops don't really go after this sort of thing for the for the money you can get so much more than say in the US series um for instance we have coins from the 1700s that are a fraction of what a U.S coin would cost from the 1700s it's just because again you know there's not a lot of competition people aren't competing to own this well here's a 1781 taller which by the way is a precursor to our word dollar from Bavaria one of the German states it's 175 dollars not cheap but something from that era would be a colonial in the United States you could add a zero to that yeah or a couple zeros right depending on conditions exactly that's so crazy now one thing that I always like to ask coin shop owners what's the craziest coin you've seen come through these doors I mean it's got to be something insane right yeah well we actually got in a 1915 Pan Pacific oh my goodness the octagonal shape I mean that thing was just you know we were somebody came in with just like a bag of coins you know and they I took the bag and I'm sitting down appraising them right so I I pull out a couple coins and some nice commemoratives you know some gold commemoratives like mckinleys and so on and then I reach in again and I feel some wait a second what's this I look at it I'm stuck there for like a minute you know I'm like no it's got to be fake right I'm looking at it and I'm like okay so Harry's you know going going at he's you know praising the other parts of the collection and I just lay it on the desk and Harry's face was just like really what was a coin worth in excess of sixty thousand dollars oh my goodness that's insane so and they had no idea what what it was what was the family said you know what we knew there was something valuable in there because you know we always try to do right by everybody and you know we were on the great appraisal and they were mind blown really it was valuable but we didn't have an idea it was that valuable so it's always nice to deliver those surprises to families and people that come in well you know what else I mean not quite as dramatic as what Adrian just said but oftentimes people will bring in bags of foreign coins like from trips they or the family took oh sure and more than once I've come up and said you know there's a gold coin sitting here among the five cent pieces no I mean it's it's so wonderful like Adrian said to be able to tell them that because they'll say well I know it's not worth anything and we'll say no not not true look at this you never know what's going to come through the door and that's that's part of for me the the joy of being here we see someone come in with a box under their arm it's just still exciting yeah it's like a treasure hunt right definitely brings out the little kid exactly yeah that's exactly what's going to say it's like you just don't know and gets as excited you know yeah I tell Harry he talks tells me all the time I tell him all the time it's like we feel blessed to be able to do this you know it's really for work and to be I mean can I tell you a secret this beat's working [Laughter] well I think we went through most of the shop but I do want to come back to Circle back to the bullion let me ask you this do people ever bring in the big boys like the hundred ounce or maybe even the Thousand ounce silver bars very often we get 100 ounce but not yet I have not I've only seen pictures of a thousand ounce bar I've never seen one come through the door I think mostly those are used in industrial applications and so the average person even you know a serious stacker is not going to have it right but we're we would welcome it definitely yeah so if someone were to bring in like 100 ounce silver bar uh what would you pay would you pay them similar to a round or less because I know typically when they buy them the premium super low yeah we we tend to buy the 100 ounce bars at spot yeah so not a dollar over per ounce because they're harder to sell not because people don't love them but but the average buyer frankly can't afford them right it's a little harder to sell little smaller audience for that so when people are trying to stack silver to preserve their wealth and you know really for insurance for all the reasons we buy it what would be some of the best things for them to pick up because obviously like you mentioned 100 ounce is going to be a little bit harder to resell it might be that the lowest premium but it's probably not the best thing to buy right well it depends the first thing we ask a new investor or stacker that comes in here is why do you want to buy this what are your what are your goals some people say I fear for the future I think we're going to have a barter situation I steer them right to the 90 U.S because they're small increments that are recognizable dimes quarters halves someone might say no no I don't fear the future I just think it's a good way to balance my Investment Portfolio then I'll draw them back to increments of one ounce ten ounce 100 ounce because they're not fearful of of the future also there's an element of of customers who are so afraid of the future that they think they may have to get up and go quickly they have a bag packed you know in the basement ready to go then I say Silver's out because it's not as uh trans it's not as mobile it's gold you can put 10 000 in wealth in your right front pocket but that much silver would take you know a wheelbarrow yeah your pants are going to be falling down yeah so we try to ascertain what are your intentions why are you doing this right and we'll meet you where you are we'll help you accomplish whatever your aims are yeah so it's kind of different for every person yeah we just have to first ask a few questions you know because people say what what should I buy and I'll say why why do you want to buy well you know and sometimes like people ask a very reasonable question like well if I buy that Philharmonic will I be able to sell it in the future and my answer is you know kind of humorous but it's true I say well I bought it we make a market in it so you know one place you can go with it but the truth is it's all very liquid yeah well any other advice for uh new stackers Harry I know you've been doing this quite a while so there's a lot of people looking to get into the hobby but also just looking to protect themselves so what would you say to someone who's new I mean should they say to not be in a hurry this stuff's going to be there yeah get get an education your channel and others provide a really free and excellent education where you can learn before you buy you know the old saying in coin collecting is read the book before you buy the coin well that's a little dated but watch the video before you buy the the bullion you know get a get us sense of where what you want oftentimes we have people who rush into this and then a year later are selling what they really aren't collecting because they have focused on something else so get that Focus try to learn what it is you want and why and then start buying don't be in a hurry yeah oh that's great advice and if we could ever help with any stacking needs or anything I mean this is this is our information here um this is Harry we knew we take phone calls and and so on and if you want to reach us on our socials we are on Instagram as Beach City coins um some of your viewers might be familiar with Beach City coins yeah yeah we'll be happy to take any phone calls or you know any questions we're always happy to help that's awesome well hey uh I gotta say the community um you guys are doing something great for the community here having a coin shop you guys run a great shop you've got a massive selection and so uh you're doing a great job and uh we love it Harry we love it we want to see it go forever so well I I'm grateful that you interviewed us today and Adrian and I are honored to be on your channel and we uh We wish all your viewers you know great success awesome well thank you so much thank you very much thank you very much absolutely

Channel: Silver Dragons

Views: 522,910

Keywords: silver stacking, silver investing, buying silver, silver stacking in 2023, silver stacking tips, silver stacking tips 2023, silver stacking beginners, silver stacking for beginners, coins shop, coin shop owner, coin dealer, bullion dealer, local coin shop, buying silver coins, silver coins, silver bars, silver rounds, junk silver, buying silver bars, where to buy silver, what silver to buy, silver stacker, coin shop video, harry's coin shop, harrys coin shop, silver, gold

Id: 54tV6c4P_jA

Length: 23min 51sec (1431 seconds)

Published: Thu Mar 23 2023