More Sellers Then Buyers?

Yup7676 are you big yup Dave or son perhaps from storage wars lol? Long shot but had to ask.....

I'm on of those sellers. I bought silver proof sets in Aug 2011 @ $42 per oz and some 90% in Sept 2011 @ $31 / oz. I bought thinking that spike in silver prices from QE1 would be repeated with future QE events. I sold the 90% in Sept-2012 after QE3 came and went and still lost money even though silver was at $34 / oz due to dealer premiums. I decided to hold on to my extra silver proof sets until after the election hoping for a fear spike when Obama was reelected. That didn't happen so I sold at $33 / oz Dec-2012. All-in-all I lost about $200 on $1000 of silver. Considering this was fun money I'm not too disappointed and on the positive side it got me into coin collecting.

On an interesting note, I bought silver proof sets hoping that they would hold value better than normal 90%. That wasn't the case. When I was selling, no one was willing to give a price bump for the numismatic factor except ebay. Of course, with ebay you lose about 15% to fees which more than cancelled any bump in selling price. I ended up selling them to Gainesville Coins as 90% silver. When I first talked to Gainesville, they declined to buy them, because they weren't interested in proof sets. I called back and asked about selling them as 90% silver and they agreed as long as I broke open the mint packaging and sent them just the silver coins. It seemed like a waste to me but money is money. Gainesville coins paid 96% of spot and both transactions went very smoothly.

The Statehood Quarters are really nice except for Florida, someone had to have been high making them one with all the random stuff thrown on there

Silverhawk- sorry no relation to Dave on Storage Wars.

BTW you heard he's suing the shows producer? hes alleging the whole show is set up and faked

Gee... imagine that. Next he'll be telling us that the Tooth Fairy died.

@ Ed_B: I agree that proof sets from the mint are not worth the huge premium. I didn't buy my sets from the mint, I purchased them on ebay with the price plus shipping just under the spot value of the silver coins. I still have the clad proof coins and mint packaging so I should get a little more of my money back when I decide how to sell them.

@ tpg22: I listed the 90% I sold in September here on the forum for spot with free shipping. I didn't get any interest at all at took the listing down after a week. When it came time to sell the proof sets I didn't even bother with the forum. Gainesville Coins had the best offer I found and they are very good to work with.

Samsnate, Only see your maples for sale, where is the 10 ounce bar?

So many more buyers then sellers right now at least in my area. You can find .999 but not in any big quantities. I have had to fall back to buying junk 90% to keep adding at a reasonable price. I have been dealing with the same guy since he opened last year and probably buy 70% of his silver he has coming in but lately it has been very limited. So this last week I bought 90% at a good price but I really prefer .999. I think its obvious that people are hoarding again, now will that increase the price I hope so now. I would love to see a run to $40 and turn some of it into gold. I think my ultimate goal is to have all my silver turn to gold.