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Replies: 2,876 / Views: 94,631 |
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Pillar of the Community
United States
1144 Posts |
Quote: i was just breezing through you tube when I spotted an Asian Guy video proclaiming comex would collapse today. it was posted 1 day ago. I wonder how many viewers thought that was real. I used to watch his stuff, but then a few people noticed different fake AI versions and channels started popping up for the Silver Asian Guy or whatever he's called. Now I don't know what to believe So I stopped watching him altogether. YouTube is being ruined by really convincing AI
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Bedrock of the Community
Australia
21788 Posts |
I really do hope that silver hits $50 again on the way down, the quicker the better.
If that happens, I will be able to again buy silver coins at reasonable prices in the silver coin numismatic market.
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Pillar of the Community
United States
1144 Posts |
Quote: How would I go about choosing a dealer? It depends on what's around you. But I know not everybody is fortunate to have an honest Local Coin Shop nearby like I do. Start by looking up the Coin Shops that are near you, read their reviews on google or see if they have a website or social media page. A lot of times it will show what they're buying.. I'm pretty sure the small shops will answer your call and give you a number over the phone. I have a personal relationship with my LCS, I've been going there for years and during normal times they buy for a couple bucks back of spot. The problem now, with all the volatility, is those back of spot numbers are as much as $10 back. So it makes no sense to sell. Another good place for me was coin shows.
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Pillar of the Community
United States
1144 Posts |
Quote: I really do hope that silver hits $50 again on the way down, the quicker the better.
If that happens, I will be able to again buy silver coins at reasonable prices in the silver coin numismatic market. Yeah I can understand that, my advice to you in the meantime is to save up and only collect the silver coins that are already have a collector value that is worth more than their spot value. This way you don't get hurt if there's a big pullback.
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Pillar of the Community
United States
2527 Posts |
Quote: I used to watch his stuff, but then a few people noticed different fake AI versions and channels started popping up for the Silver Asian Guy or whatever he's called. Now I don't know what to believe So I stopped watching him altogether. YouTube is being ruined by really convincing AI i viewed only a few when they began to really proliferate. I caught on pretty quickly how fake they were and how to easily spot the AI fakes. (if it's AI, it is fake) like you, Harry, I stopped watching altogether. there is only a certain amount of stuff i'll watch on you tube anymore. I spotted a fake 'animals reunited with owners' video that angered me. I won't carry on about it, but I agree, you tube is now flooded with AI garbage. the wave of political correctness and censorship was bad enough, now they're messing with people's heads by allowing total garbage videos to be posted, just disseminating lies. I presume comex did not collapse today. at some point, probably soon, silver will become oversold again and resume skyward. it was nice to see it 'up' on a friday again. to be honest, watching this every day has become monotonous for me and I backed off watching this past week. monotonous and aggravating, really. I'm in for the long haul and firmly believe the repricing of our metals is nowhere near a top. lots farther to go. I don't really need to watch every day, but I do like reading everyone's comments. Quote: So here's a question for anyone who cares to respond I would appreciate reading your comments. How would I go about choosing a dealer? A quick google search of "gold and silver dealers near me" gave me a fair number of dealers within driving distance. Do most of these dealers give quotes over the phone? Do they even answer their phones? Is walking in better? just an opinion here. we don't have coin shops in the keys. the nearest is miami. however, good things can be found in pawn shops. but as far as local coin shops go, if it were me i'd be finding out which local coin shops seem to have the best reputations and start with those. yeah, walk in. go to as many as you can. find some friendly people to talk to and build a relationship. carpe diem. if you don't get good feedback or a decent vibe, it's easy enough to leave. and have fun! 
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Pillar of the Community
United States
1376 Posts |
I see this morning that JM Bullion is once again listing a buy back price for 90% Junk Silver - $38.10 x FV. With spot at $77.69 bid (Kitco), that's a buy back price of melt-$17.45 
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Pillar of the Community
United States
2280 Posts |
Yeah, I heard refiners/wholesalers currently don't accept 90% or are only offering way below melt. Their buying gold offers aren't as bad. Unusual times now for silver/gold.
Edited by livingwater 02/07/2026 08:46 am
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Valued Member
United States
81 Posts |
Quote: JM Bullion is once again listing a buy back price for 90% Junk Silver - $38.10 x FV. With spot at $77.69 bid (Kitco), that's a buy back price of melt-$17.45 Not sure what you are saying, but $38.10/0.715 ozt (standard for "junk"- 0.715 ozt per $1 face) = $53.29/ozt buy-back price, or 68.6% of spot. Pretty low regardless.
Edited by JohnQPublic 02/07/2026 5:55 pm
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Pillar of the Community
United States
1376 Posts |
Quote: Not sure what you are saying, but $38.10/0.715 ozt (standard for "junk"- 0.715 ozt per $1 face) = $53.29/ozt buy-back price, or 68.6% of spot. Pretty low regardless. Junk silver is usually bought and sold based on its melt value. As you said, the industry standard is that melt value for $1 FV equals silver spot price x .715. So, $77.69*.715=$55.55. $55.55-$38.10=$17.45. So, JM Bullion was paying melt-$17.45 (or 68.59% of melt value). You can compare to spot instead of melt value if you want by doing the calculation in reverse, the way you did it. $38.10/715=$53.29 which would be spot-$24.40 (or 68.59% of spot). Most dealers prefer to use spot when speaking about pure silver or gold and melt for alloyed (and fractional) silver and gold but you can, of course, use either way as you get the same 68.59% either way. Use whichever you prefer  BTW, JM Bullion is at $38.14 per $1 FV this morning. Seems a bit unusual for their price to change with the metals markets currently closed 
Edited by BadDog 02/08/2026 11:11 am
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Pillar of the Community
 United States
5889 Posts |
Well, overnight trading has started, and so far it's a lot more exciting than the Super Bowl.
Edited by barryg 02/08/2026 7:03 pm
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Pillar of the Community
United States
631 Posts |
&  BarryG
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Pillar of the Community
United States
1144 Posts |
COMEX high so far hit $81.415 tonight.
Overnight and after hour's markets are easier to move though.
Edited by Harry213 02/08/2026 9:45 pm
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Bedrock of the Community
 United States
10601 Posts |
Boring night - metals pretty steady.
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Pillar of the Community
United States
1144 Posts |
The fun should be starting soon as the Casino will be opening to the public in about half an hour.  Overnight: COMEX high was $82.12 the low was $78.10 at the open. Would be nice if silver would stabilize and stay in these $4-$5 moving ranges. Then we'd be looking at potentially hitting $73-$87 today and not $50 or $100. Making it harder for coin dealer's to offer reasonable buy/sell margins.
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Moderator
 United States
190950 Posts |
$79.72. What will silver do? 
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Replies: 2,876 / Views: 94,631 |