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 Replies: 842 / Views: 96,416 |
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Pillar of the Community
United States
844 Posts |
This morning, just before the market opened, I sold a bag of War Nickels at 24x. Melt was about 26x this morning, 28x this afternoon! That's gonna be one happy customer  |
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Pillar of the Community
United States
533 Posts |
Local pawn had rolls of quarters for spot + $1.50 per coin / $240 roll I figure that's a 33% premium My go to online delaer lately has been Monument Metals they are getting $250 roll Crazy prices but I like to buy consistently and end up paying what the market is bringing |
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Pillar of the Community
United States
2049 Posts |
APMEX had prices of 30x face or more last night when I checked. Also hearing stories of 28x face....may check out the LCS this weekend just to see where they are and what they have.
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Pillar of the Community
United States
533 Posts |
so $240 is 24xface
seems high but better than 25x or 28x or 30x
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Pillar of the Community
United States
2049 Posts |
I will probably continue to buy (i.e. dollar cost averaging) instead of waiting for a dip that may not come for a long time. I remember taking the wrong approach over 10-15 years ago when I didn't want to pay more than 10x-12x and held off. My approach has changed to where I will keep buying regardless of spot price.
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Pillar of the Community
United States
1479 Posts |
I'm seeing alot of Fear Of Missing Out in my area there isn't any 90% and no ones selling. LCS out of everything including Canadian 80% 2 months ago you could buy 90% at $18.80 face including halfs. LCS asked me for silver and I declined. Things are topsy turvey right now I'm in sit and watch mode.
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Pillar of the Community
United States
533 Posts |
"I will probably continue to buy (i.e. dollar cost averaging) instead of waiting for a dip that may not come for a long time. I remember taking the wrong approach over 10-15 years ago when I didn't want to pay more than 10x-12x and held off. My approach has changed to where I will keep buying regardless of spot price." When it goes up I buy when it goes down I buy I sell basically never. A while ago I did sell off my graded coins and others but just to buy ASE's |
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Pillar of the Community
United States
2365 Posts |
Here's an interesting article re: Silver supply and demand relative to pricing as well as an above ground depletion of silver. The costs of mining for silver are seemingly becoming too high for silver mining companies. https://www.mining.com/web/silver-d...n-this-year/Thoughts? Edited by dsking
04/07/2023 3:23 pm
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Pillar of the Community
United States
844 Posts |
Interesting to scroll back a calendar year thru this thread. Year over year silver hasnt moved more than a few cents, certainly far less than inflation. Only when you look at weekly or monthly figures will you see the swings. So why the growing premiums? Bid / ask used to hover tightly 3 to 5% under / over spot. Now its way more than that. The major retailers and ebay sellers are asking and getting bigger premiums on 90% and bullion than they were a year ago. SDBullion is paying 22x and asking 28x for 90% with spot at $25. PS: The article cited above is from July 2022 so some info is outdated and doesn't really explain the premiums we're seeing. I dont think the inverted consumption/production ratio explains the premiums. Plus the article cited a huge jump in spot from March 2020 to August 2020. That was an outlier from the early days of the pandemic but the authors conveniently neglected that fact when selecting their data points. So I dont have much comfidence in their conclusions. (Or am I too tired and missed something?) Edited by jeffbuckes
04/08/2023 12:52 am
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Valued Member
United States
455 Posts |
I really think the premiums are coming from the demand. I saw a video where the coin shop sold as much in March as they normally do in an entire year. As long as that's happening, I think we can expect the premiums to stay sky high IMHO.
Thanks.
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Pillar of the Community
United States
2262 Posts |
One YouTube stacker channel interviewed a coin store owner in Chicago recently. The owner said when prices are low, regular business. When something happens like bank failures or when prices quickly go up, her sales increase a lot. Maybe FOMO buying. Another YouTube stacker channel showed people lined up outside his favorite coin store before it opened recently. Very high sales being reported by several online dealers. I'd say premiums went up due to high sales.
Edited by livingwater
04/08/2023 2:12 pm
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Pillar of the Community
United States
2049 Posts |
LCS had dime/quarters at 23.5x, halves at 24.5x...much better than SD Bullion and APMEX online prices but still a high premium. Demand is there so I can't blame them. |
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Pillar of the Community
United States
2637 Posts |
Buying at 20x, selling at 25x. Was bought out last week, wholesaler charged him 23x.
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Valued Member
United States
114 Posts |
Where are people selling to maximize value? I have a fair amount of 40% JFKs and War Nickels I wold like to unload for space reasons. |
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Pillar of the Community
United States
844 Posts |
Quote:Where are people selling to maximize value? I have a fair amount of 40% JFKs and War Nickels I wold like to unload for space reasons. Try: Reddit > Coins4Sale PS: this forum also has an active buy / sell / trade page for silver etc but you have to have a minimum number of posts to read or reply. I'll link it here for reference: http://goccf.com/f/159 |
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Replies: 842 / Views: 96,416 |
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Posted 04/07/2023 11:10 am
