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Silver Just Topped $35

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ArrowsAndRays's Avatar
United States
1662 Posts
 Posted 02/25/2012  11:21 pm  Show Profile   Bookmark this reply Add ArrowsAndRays to your friends list Get a Link to this Reply
The higher the price of silver goes, the less sense paying a premium for 'fancy' modern MS or proof slabbed silver coinage seems to make.
To me that is.
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Silverhawk74's Avatar
United States
3670 Posts
 Posted 02/25/2012  11:32 pm  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list Get a Link to this Reply
True Angel....

Great point as well Arrows, as I like proof Eagles for example, they are great. Command nice double spot on average I figure we all would agree. If an when silver hits 100 an oz., how many people will be forking out 200 for proof Eagles?

The answer to that, is the far an few between with enough credits to be buying something like that in what would be a real bad economic situation. The gal that can afford to buy a 19 thousand dollar watch, like this lady I serve often at the bar who owns her own chain of those loan company's, lol....

Stop an think about that. The numbers are way far an few between that can afford a five grand watch right now, which translates to a pretty decent vehicle if one shopped around enough. Much less 19 grand, are you freakin kiddin me, what a hunk of gold an diamonds....

An it seems like she got it at like Zales, wonder how much of a profit they turned on that little transaction?

She spent about four grand more on that watch, then I made bar-tending at her favorite restaurant last year, lol....

Again if silver hit 100 an oz., short of a major Industry spike in demand, which is a not if but when situation I feel anyway.....
Edited by Silverhawk74
02/25/2012 11:36 pm
Pillar of the Community
United States
2168 Posts
 Posted 02/26/2012  09:45 am  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
At the shop I buy at they were saying that the premiums on many collectible coins kind of equalized when silver was in the 40s. They said the time to buy for just a slight amount more than junk. Who knows! Guess a lot comes down to stock and whay was paid for it. Another local dealer bought a monster box from a customer in the week before silver dropped in May and I don't know price Pd but could have set himself up for a loss on selling I'm lucky that I can pay 3percent over spot when I buy and I just buy very small amts. they use .715 as factor for calculation as well
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aandabooks's Avatar
United States
223 Posts
 Posted 02/26/2012  10:59 am  Show Profile   Bookmark this reply Add aandabooks to your friends list Get a Link to this Reply
The owner at the coinshop I deal at was telling me that he wouldn't be much of a buyer if silver gets in the $50-$60 range. He also mentioned that if it gets up that high again, his numismatic coins will be heavily discounted because people will coming in and only looking at the Junk Coins/Bullion. He figures if he doesn't discount the better stuff, it will never sell when/if then prices get up that high.
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United States
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 Posted 02/26/2012  11:03 am  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
Yes I too was told when spot was high the best time to get the collectible coins. In fact they even had some proof Kennedys mixed into the junk silver
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rgathright's Avatar
United States
264 Posts
 Posted 02/26/2012  1:56 pm  Show Profile   Bookmark this reply Add rgathright to your friends list Get a Link to this Reply

Quote:
The higher the price of silver goes, the less sense paying a premium for 'fancy' modern MS or proof slabbed silver coinage seems to make.
To me that is.
I agree with this statement too, but with a different reason in mind.

I have many friends in my local community. Lately, I have begun asking them again for their Mercury dimes and Morgans at a price of $30/ounce. Local pawn shops only offer $15/ounce. Next week will be busy for me and my digital scale as I have four appointments setup.

Forget about 'fancy' silver, use the current high price as an opportunity to diversify and helps those in your community that could use the extra cash for medical costs.
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Ed_B's Avatar
United States
4008 Posts
 Posted 02/26/2012  7:06 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

Quote:
That is good if you want to sell or swap silver for gold. Not good really if you still want to buy

Sure it is, Angel. You just need to switch what you are buying!

A low G / S ratio simply means that gold is relatively cheap and silver is relatively expensive, so just buy the "cheap" stuff. The good news there is that gold does come in 1/10th oz. coins to help manage the price a bit. No need to buy the bigger 1/2 and 1 oz. gold coins if that would bust your PM budget. Even at today's 50:1 ratio, a gold 1/10th oz. is still similar in price to some of the 5-oz. silver bars and rounds.
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DNA's Avatar
United States
2734 Posts
 Posted 03/03/2012  9:54 pm  Show Profile   Bookmark this reply Add DNA to your friends list Get a Link to this Reply

Quote:
that G to S ratio is right dead smack on 50 to 1

The "legal tender" face value of a one-ounce American Silver Eagle is One Dollar.
The "legal tender" face value of a one-ounce American Gold Eagle is Fifty Dollars.

Hmmm...
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