Anyone Been Cleaning Out Their Junk/Low Value Silver Lately?

Mcshilling if you could walk into J&M this am you would get from them 525$ for your 10$ roll of quarters and 86.50$ for a pre 1966 cnd dollar.

You can check on their website under sell to J&M, bullion. Prices fluctuate with the spot price.

Pre 67 silver has 0.6 fine ounces per dollar. So a silver dollar has 0.6 ounces or almost C$100 of silver. A $40 offer is terrible for a silver dollar. You should expect a discount but a fair price would be $80+.

Both bought and sold stuff in Vancouver today .
Pure saleable stuff brought strong prices .
Cased dollars , mint product , US 40 per cent and the like
all brought around 80 per cent give or so .
THERE IS NO WHERE TO GO ! Dealers are running
very low on liquidity, ie running out of cash!
I was able to buy a very nice run of Morgan dollars
and US numismatics at great prices .
15 back of Grey Sheet on the Collector coins and the Morgans
95 per cent of spot!

Glad you were able to cash that out Pacific, looks like the bubble might have burst today. If it holds, silver down 30%. Not even sure how to describe the impact of that if it holds.

For those of you who don't know, I run a dealership in Ottawa. The last two days have been insane. These silver prices seemed unreasonable for the last month or two -- even more so as I began to receive calls from the general public looking to buy into the market (never happened to me before, I'm a coin dealer not a bullion dealer). When the public wants to buy in, that's when I want to get out.

Today, in particular, was wild. I had eight appointments scheduled, six of them came in and two cancelled. I was buying hundreds of ounces of silver, mainly Canadian circulation coinage but also some pure stuff and RCM product, as the market was crashing, trying to maintain fair buy prices and margins without losing my shirt. Thankfully, I did make it through the day without any massive losses. I have been careful about offsetting all metals purchases with equivalent sales over the last month as prices became inflated so as not to inflate my inventory and exposure.

I was around buying and selling in 2011 when this happened, but I don't recall it being as singularly nuts as what's happening now. It will be interesting to see how the market reacts on Sunday night. Will the selloff continue? Will collectors and investors want to buy the dip? All I know is I will continue buying and selling in a way that is both fair to my clients and limits my downside risk from the price volatility.

Happy to answer any questions.

Diversity and dividends cover the market dips. My portfolio is well in the black by every metric—YTD, last year, and the last ten.

Looks like the big online sellers of bullion are still holding the line. A discount of $2.50 (back of spot) on 90% silver (the best I can find) does not scream "liquidity crisis!" to me.