Budapest LCS

[Stacker2020]

I'm going to check out a few LCS in Budapest over the next few days. Just wondering if anyone has visited any they would recommend?

Of course I'll report back with anything I think is worthwhile visiting...or avoiding!

[Stacker2020]

So I thought I would update. I didn't make it to the LCS as I got hit with a bit of a flu and spent the day in bed recovering...cue sad music!

So instead I started to investigate my exit strategy and where to sell gold and silver in Budapest. At first I was shocked at the prices being offered by lots of places, buying at 50% under spot!

Then I realised that searching using English was the issue. I was getting mostly 'high street' pawn shops that prey on people's lack of knowledge of the PM markets to rip them off.

Once I searched using Hungarian I started to find decent buyers. Gold is easiest to sell (of course) with lots of places offering close to spot (-2/3%) but finding a decent silver buyer was difficult. After several hours I did manage to find a few decent buyers offering about 4% under spot. I'm going to keep looking and see if I can find better. 

 

[Stacker2020]

So I'm just going to keep rambling on this post as I delve deeper into selling PM's in Budapest.

Just to note I'm new to stacking, only 4/5 months in. So this is all a learning experience right now. I'm in it for the long haul but still thought it would be interesting to see how I would go about cashing-in if necessary and how hard it would be.

Anyways, after a lot more searching online I have managed to find silver buyers paying 98% of spot. So that's all good.

Now I really want to go check out a few LCS and have a chat with the owners. See if I can make a friend or two who'll give me some nice deals or pay spot + premiums on choice coins. I have a feeling that's going to be much harder to find. So far the few numismatic shops I've found online are into antique coins only. 

I'd be interested to hear from others in Europe what sort of buy back % they get on both silver and gold.

[Chronix]

Interesting quest you are taking on. Good thinking to gather intel and experience for the future. 

I found Monetarium very nice place with decent prices. Check it out!

Chronix

[StevenDS]

The bullion dealer you buy from might be the best to sell to. For me this is goldsilver.be. There are 2 coins of which they always mention the buy back prices on their site: Maples and Philharmoniks. These are quite competitive buy back prices.

MAPLES

Selling at €17.40 (without volume discounts) https://goldsilver.be/nl/1-oz-30-gr/27-1-oz-silver-maple-leaf-2020.html

Buy back at €16.59 https://goldsilver.be/nl/aankoop/32-aankoop-zilver-maple-leaf-1-oz.html

 

PHILHARMONIKER

Selling @ €17.44 (without volume discount) https://goldsilver.be/nl/1-oz-30-gr/30-wiener-philharmoniker-1-oz-silver-2020.html

Buy back at €16.51 https://goldsilver.be/nl/aankoop/34-aankoop-zilver-kangaroo-philharmoniker-1-oz.html

 

Maples are a better deal, so I stack maples, because goldsilver.be is my most liquid and best exit strategy.

Keep in mind that you can sell to them as well. You would need to consider shipping cost of course, but given your current exit strategy being below spot it might be a better option.

[Stacker2020]

Thanks for the info. I have bought from GS before and have seen their buy back prices, which are decent. 

Maples do form a decent portion of my stack too and I'm sure if I finally get into some LCS I'll find a few dealers willing to pay the premium on the coins.

I'd prefer to find somewhere I can walk into. Much less hassle and time then posting. 

[Stacker2020]

Update: So I finally made it into 2 LCS in Budapest. They were quite small places and both mainly dealt with Hungarian coins. I chatted with them a bit and got some nice advice about Hungarian coins and what to research as I know nothing about them. 

I did make 2 small purchases. One was an American '64 Kennedy half dollar and the other was this silver 1540 Ferdinand Dinar. It's a lovely little inexpensive piece that adds some history to my collection.

I will try to find a sime more LCS in the new year.