Junk Silver Prices Thread - Report In Here

LCS says buying at 18x, selling at 20x.

LCS was selling as high as $23/$1, currently at $20/$1.

Bought Standing Liberties at $5 each.

Visited the LCS today to buy some 90%.

Spot price: $26.37 (melt: 19.1x face)

Buying at 16x face.
Selling at 23x face.

Someone was there selling a significant stash of pre-1965. I was there to buy but walked out empty-handed.

I expected a 5x spread, not a 7x. Was I being petulant?

@jskirwin
The spread is bigger than I expected. My places I go to have a spread of 4-5 usually. But the guys yesterday paying 16.5x face had the scrap dimes in 2x2 for $4.50. In my other post by saying not selling I meant not by face.

We are buying at 12 times face and selling at a buck over spot. We are having trouble keeping inventory on the shelf. I just found out that the flea markets and antique malls are averaging $65 for ASEs and I was selling them for $35 till I ran out. I was wondering why I was having people drive for an hour or so to get here. One booth at an Antique mall had ASE's for $90 each.

Auctions. I rarely go to auctions because people lose their minds and will pay multiples over retail.

I haven't been to my LCS in about 1.5 years, since silver premiums went crazy. I also assumed, from reading the internet posts, that he wouldn't have any silver inventory. I visited today and, on the contrary, he has more silver than I've ever seen him have. 1.5 years ago, I'd ask for junk Franklins, and he'd have MAYBE six coins. Today, he had 20 rolls of junk Franklins. He said a lot of people have been selling their silver. I bought a roll, even though I don't really want to pay today's prices. Nice thing is he doesn't charge any extra for Franklins. But bad thing, all this junk silver is 23x face value. Last time I bought junk silver from him, I think is was like 12x. He also had junk Morgans and Peace dollars, something he never had before. They were $28 and $31 dollars, respectively. The Peace dollars looked in good condition and there weren't any 1922s so I picked up 6. Wise purchases? Probably not, but thought I should give him some business because he's the only coin shop within 20 mile radius and he's been good to me in the past.

HappyHippo that doesn't seem to bad especially if it a one off purchase and not for a bulk amount. Wow to hear that ASE can go for 90 dollars when it is like 35-38 RRP jezz. I pick up a few ;) Peace dollars mid way though 2020 in australia was able to watch the auction/dealer furiously try to change his retail silver items. ^_^