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 Replies: 16 / Views: 4,249 |
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Bedrock of the Community
United States
10982 Posts |
Those are some insane premiums especially from APMEX. They must be hoping buyers can't do simple math because a 38%+ premium for junk 90% is not understandable. Well, if they buy at melt and sell at melt + $5.99 then their gross margin is $400 per bag. A tidy sum and indicative of something I won't speculate on. |
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Pillar of the Community
United States
6478 Posts |
I made 14 dollars by buying before the drop because of how much premiums rose.
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Pillar of the Community
Canada
3692 Posts |
You only "made" money if you actually sold it back to them at their buying price. "Saved" money is probably a bit more accurate.
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Valued Member
Australia
208 Posts |
Bought $3 face yesterday at 14X. Ok I guess, but I would have bought more at say 12.5X
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Pillar of the Community
United States
1554 Posts |
In MN, dealers buy price is $23 and sell price is $26 for pre 1921 VG-F Morgan dollars. Edited by 1893S
07/12/2015 11:31 am
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Valued Member
Australia
208 Posts |
Yesterday I went to 4 LCS's and I noticed that premiums are indeed going up compared to even a few weeks ago. Melt for 90% was about 10.5 times, and LCS's were charging 14 to 14.5 X and some even more. So nothing under 30% premium. Also a shop were I used to buy Canadian 80% at melt, now charges a 20% premium, a real shock and I passed on coins I was about to buy. I still bought a bit here and there, but I feel almost silly to pay so much of a premium, and am considering taking a closer look at ebay deals. |
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Pillar of the Community
United States
7390 Posts |
Quote:
You only "made" money if you actually sold it back to them at their buying price. "Saved" money is probably a bit more accurate. Good Ole Ben Franklin would beg to differ  |
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Bedrock of the Community
United States
10982 Posts |
Quote:Yesterday I went to 4 LCS's and I noticed that premiums are indeed going up compared to even a few weeks ago. Melt for 90% was about 10.5 times, and LCS's were charging 14 to 14.5 X and some even more. So nothing under 30% premium. Also a shop were I used to buy Canadian 80% at melt, now charges a 20% premium, a real shock and I passed on coins I was about to buy. I still bought a bit here and there, but I feel almost silly to pay so much of a premium, and am considering taking a closer look at ebay deals. Your experience is pretty much universal this summer. If silver prices continue to decline into the $13 range this fall? Then some better deals should be available. Many, many people think we're at or near a bottom for prices this cycle and that holds premiums up - for now. |
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Pillar of the Community
United States
4333 Posts |
If the premiums don't drop $12 won't seem like such a deal.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
124 Posts |
My problem is wanting Mercury dimes over Roosevelts. My LCS does about 13.8x for mixed right now, but adds 15% onto that to pick out choice. It's annoying because I want the low price but getting mostly Roosevelts would annoy me... The other LCS gave me choice @ 14.5x, but I don't want to pick up as many at that price. |
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Valued Member
Australia
208 Posts |
I did better today than yesterday! :-) I answered a Craiglist ad for a Canadian Silver dollar and 1965 mint set.
I got them for $25, which is almost exactly melt value. A minor score, in this market.
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Valued Member
United States
258 Posts |
You did well, Misterpostman (like you said, especially in this market)
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Pillar of the Community
United States
5209 Posts |
I don;t buy 90% junk silver. I roll hunt and sell my 40%ers and once in a while my 1964 Kennedy's to a hoarder I know or trade them for some of his numismatic coins. I keep all of the Walkers and Franklins I find. I buy bars and Eagles and try to pick up the 5oz ATB when I can. However I did score these in the bank parking lot a week ago and it seems everyone says paying melt isn't a good deal  I guess it depends on which side of the fence you are on. https://goccf.com/t/236735 |
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Pillar of the Community
United States
7390 Posts |
My side of the fence says silver's gonna take a trip on a U2 plane soon so who really cares. Buy all you can while you can before all the small mines go kaput and the big backed mines start hoarding their ore  |
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Pillar of the Community
 United States
586 Posts |
It seems that silver's gonna take a trip on USS virginia, soon.
LOL
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Posted 07/10/2015 11:47 pm
