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 Replies: 842 / Views: 96,127 |
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Pillar of the Community
United States
2637 Posts |
LCS buying at 31x, selling at 35x.
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Bedrock of the Community
United States
36808 Posts |
Swapped some gold coins for junk silver yesterday, got the 90% for 33x. My dealer said so many people are bringing it in to sell that he is starting to ship it out to his scrapper for melting to keep cash flow.
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Moderator
 United States
189010 Posts |
Quote:
Swapped some gold coins for junk silver yesterday, got the 90% for 33x.  Quote:
My dealer said so many people are bringing it in to sell that he is starting to ship it out to his scrapper for melting to keep cash flow.  |
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Pillar of the Community
 United States
5191 Posts |
Does that mean there is a glut of silver? And if so, then why are prices not dropping?
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Pillar of the Community
United States
2237 Posts |
People who buy gold/silver to stack/collect are a small part of the total gold/silver market. Spot prices are mostly determined by the big banks brokers trading paper futures/options, millions of ounces and the central banks buying physical gold.
Dealer premiums can change according to how much physical is available. If wholesale and retail dealers have a lot of silver they usually lower the premium to move product. If there's less silver they usually raise the premium.
Edited by livingwater
10/09/2025 12:18 pm
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Bedrock of the Community
United States
36808 Posts |
 Right now the little guys (us) are selling their small holdings at these high prices to local dealers. While the big players and the Military Industrial Complex are buying large amounts. They use the paper contracts with no real silver backing them to force prices down when they can. They'll trade a years worth of total mining production in one day using unbacked paper (naked shorts). Seems like that should be illegal but the government blesses it. |
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Moderator
United States
189010 Posts |
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Seems like that should be illegal but the government blesses it. Just one of many things.  |
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Bedrock of the Community
United States
36808 Posts |
Just swapped more gold for 90% junk silver. 37x face today.
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Moderator
United States
189010 Posts |
Quote:
Just swapped more gold for 90% junk silver. 37x face today. Excellent! |
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Valued Member
United States
110 Posts |
at that exchange rate, I'd happily swap silver for gold. Sadly I don't think you are local!
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Bedrock of the Community
United States
36808 Posts |
Melt value on junk silver coins is now 38.7x.
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Pillar of the Community
United States
877 Posts |
The best deal at my top 3 LCS in St. Petersburg was $26×FV last week at peak prices. WTH! An hour north in Spring Hill dealer is paying $34.40. I don't get it. Shops are panicked I suppose.
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Bedrock of the Community
United States
36808 Posts |
The smaller coin shops can't sit on much silver and need to turn it reasonably fast for cash flow. They are at the mercy of the refiners right now who are setting the buy prices. Junk 90% silver coins are going to command a much larger premium when things smooth out. Just consider how many have been melted since 1979.
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Pillar of the Community
United States
2049 Posts |
Coin show this weekend had prices at 35x at the lowest and some asking 37-38x.
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Valued Member
United States
168 Posts |
Today I agreed to sell Monument Metals four rolls of 40% silver Kennedy half dollars. That company offered me $6.75/coin -- a much better price than what JB Bullion offered ($6.00/coin). I will use this money to help purchase 90% silver quarters and half dollars that a member of the CCF recently sold to me at slightly below melt value. This year I have purchased many 90% silver coins on this forum (which contain 81 ounces of silver) using the money I received selling 520 40% silver Kennedy half dollars that I've found while CRH. |
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Replies: 842 / Views: 96,127 |
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Posted 10/08/2025 9:05 pm
