Guest Post, Submitted by AGXIIK:
Here is the 411 of four Reno and Carson City LCS as of the end of day Tuesday June 9, 2026.
They range from a large Northern Nevada coin store, two mid-sized 2-man or married couple LCS and a 1-man home based LCS. I was able to interview each owner with sufficient time to get a strong sense of the silver/gold market and reported this below.
Northern Nevada Coin with $100,000,000 annual sales firm was the first visited today. I sold two 2023 sealed ASE monster boxes at spot minus $1.50 netting me $63,440 with a maximum $1000 cash back and a check that can be deposited and clear today.
This was a different market environment from the January price explosion that saw silver prices rising from $90 up to $115 an ounce before the silver price plummeted. Cash back was limited, prices were substantially back of spot and NNC asked their sellers to hold checks for up to 3 weeks. Once the silver price crashed on Jan 30 the lines and sellers disappeared.
I traded daily with NNC every day until the day before the silver price crashed by $40 an ounce. The reason for trading then was to take advantage of these high price and gain liquidity with about 1,200 ounces sold during that 1 month period.
One of the NNC owners replied to my question of how they see the market today. He replied that it’s 50/50 mix of buyers and sellers. The sellers need money; the buyers are finding good deals.
My plan for selling was to deposit the check and put it into my trading account. There are some miners and PM ETFs that are attractively priced and becoming more so. I’m waiting for a further decline before buying but think we are in an environment that brings a good price to those who have cash and patience wait for a good time to enter the market. For 15 years I’ve been ‘all in’ for physical gold and silver ranging from 95-100% with modest investments in any sort of miner shares. This lightening up is my first toe in the water to buy back into a weak market.
LCS 2. A single owner with one employee is doing well but told me he is not buying bullion “due to unforeseen issues with the wholesalers”. He does offer good prices on sales, usually with small mark ups since he doesn’t have a lot of gold or silver in the showcases. I bought 2 very nice gold Maples at 2% over spot for cash.
He reported that he has $100,000 in collector watches on display and $2-300,000 in bullion waiting to be listed on his on line site. His capital outlay of at least $300,000 means he’s not adding to his inventory until this heavy investment is sold and capital is made available. It’s better for him to sell the inventory than dumping to the wholesalers who still have problems absorbing the surge in silver inventory from the LCS and offer 20-25% discount on the wholesale price.
LCS 3 is home-based, run by a 30 year veteran of precious metal selling and buying. He offered $5 back of spot for the monster boxes, paid for by check. He said he’s light and tight on cash and is not selling gold at this time since, I assume, gold is a personal holding as he’s almost fully retired. I did not do any business with him.
LCS 4. The husband and wife owner of this place are on a 1 month sabbatical in Vietnam. Mr A told me they need to take 1 month off every 6 months to recover from the stress of dealing with clients who are idiots, ignoramuses, mouth breathers, amateurs and juvenile 30 something ‘morons’ (My words). They’ll be back at the end of June so I’ll have chance to talk shop Mr A about the market 21 days from now, find out what sort of buy and sell prices they are offering and do some business if I’m still trading and selling silver.
All this said and silver at a low ebb, the market will give buyers a chance to see prices to come to them instead of chasing prices. That’s my plan if a particularly good low in gold price comes in the next month or so. As for buying miners and ETFs I plan to watch and wait. These volatile markets and miners might have even better prices next month. As a side note Fortitude is nicely set up for a small purchase now that they have $40,000,000 from a non-miner investment group. We were talking about FTCO at breakfast last Wednesday and we all felt Fortitude presents a good price entry and offers a 1 cent per share dividend payable monthly. I like to be paid to hold a miner in my portfolio parking lot.
Northern NV Coin link below
Northern Nevada Coin offers pretty decent prices back of spot, 1/2 to 1/3 as much of a price back of spot.
I’m thinking that NNC would be my best place to sell 2 monster boxes at about $1.50 back of spot then park the cash in the chance of buying silver back at $55 from this LCS or someone else. Another plan is put the cash in my trading portfolio and wait for prices of miners to settle down before I reinvest.
This is the small physical trade that would gave me net cash for trading. Time gives me the benefit of deciding without pressure on quick decisions that get costly There is a chance I might buy more 1 ounce AGE coins as well. In any case having lots of cash, as Lobo noted, appeals to my trading sentiments.
The big question still must be dealt with, posed in the right way then answered in the form of action. When do I dishoard more silver either into price weakness or with the purpose of having lots of dry powder. NNC can handle high 4 figure to low 5 figure sales. I talked to the owner about this should I decide to sell more than 1000 ounces.
NNC is the only Reno LCS that published their buy and sell prices for a wide variety of bullion types and can handle a large one time sale. According to reliable sources they do $100 million a year sales volume and their checks will clear. The owner told me my $63,000 check will clear immediately.
The 90 minute lines are gone so it won’t take me long to check with the management about selling .99 rounds, silver Maples or more sealed monster boxes.
This is not trading advice. Do your own due diligence. Be sure to check with your LCS or on line bullion dealers. One thing that Steve StAngelo noted is the very substantial buy back prices that are $10-20 back of spot.
Bullion | Northern Nevada Coin
AGXIIK
I enjoyed this podcast with Lobo Tiggre and Michelle Makori. Lobo is talking my language.
