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Pillar of the Community
United States
1280 Posts |
Visiting family in rural Missouri. Spot just over $25. One shop was 26x, and another had halves for 19x.
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Pillar of the Community
United States
843 Posts |
Bay State Coin Show Marlborough, Mass on July 28. Spot at $24.50... Plenty of US silver, mostly slabbed and in 2x2s. Not much in the coffee cans or bagged for bulk. One dealer from NY had a nice quantity of 90% dimes, quarters, half dollars posted at 24X but making deals for bulk purchases. Common Morgan and Peace dollars were going for $35 to $40 each and common Eagles were selling at $30+ each. Edited by jeffbuckes
07/29/2023 08:59 am
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Pillar of the Community
 United States
5192 Posts |
jeffbuckes, I think I saw some halves going for 20x at the show?
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Pillar of the Community
United States
843 Posts |
Maybe NumisEd.
I was only looking for buckets and coffee cans and bulk bags, but could easily miss other sellers.
20x half dollars is a good price with spot at $24.50. I think melt is 17x?
I picked up a couple pandas and 1960s proof sets and misc world silver.
I got to the show around 1PM but a lot of vendors packed up for the day by 430PM even though the floor was open till 7.
I had trouble spending all my money! So many tables were closed.
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Pillar of the Community
United States
5192 Posts |
Quote:
20x half dollars is a good price with spot at $24.50. I think melt is 17x? Yes, melt is about 17x. My rule of thumb is to pay 80% of spot for junk silver as face value. So, with spot at $24.50 that would be 19.6x. Currently, I am in a wait-and-see mode for junk silver. |
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Pillar of the Community
United States
2637 Posts |
LCS buying junk silver at 16x, selling at 23x. Buying ASEs at +1, selling at +5.
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Pillar of the Community
United States
4680 Posts |
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LCS buying junk silver at 16x, selling at 23x. Ouch  |
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Pillar of the Community
United States
843 Posts |
Quote:
Buying ASEs at +1, selling at +5. Agreed, the premium for Silver Eagles has definitely cooled. I was able to sell a few rolls earlier this summer and did well. But at a show last weekend Eagles were going for as little as $30 each (+5.50 over spot). I sold a few stragglers at spot plus $1.50 just to free up some spending money. One dealer wouldn't even look at my Eagles. He'd over-bought earlier this year when premiums were spot + $11 and he wasnt selling any either. Didn't want to take a loss. But he was selling common Pandas at $35 and they still move he said. |
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Valued Member
United States
455 Posts |
Monument Metals has 90% (dimes & quarters) for 19.3x...prices finally starting to come down a bit.
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Pillar of the Community
United States
2233 Posts |
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Moderator
 United States
190046 Posts |
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New Member
United States
23 Posts |
Premium is going down. 18-18.5x fv at my LCS today. Is the demand always low in the summer?
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Pillar of the Community
United States
843 Posts |
TinTin -
It's not the weather, it's the economy / politics / youtube hype etc etc.
Track the fed rates, read about Fitch downgrading the US credit rating etc etc. You'll see peaks and valleys. Right now it's a valley teetering on a .... well, who knows.
But mostly I think a lot of stackers jumped on the bandwagon the last couple years then got priced out of the market / lost enthusiasm for the sport so prices level off.
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Valued Member
United States
455 Posts |
Great points Jeff. Also, the weird phenomena of how people seems to buy more when the prices are higher. As the spot price drops, people stop buying which is really strange but that's the way it works.
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Pillar of the Community
United States
843 Posts |
Look at BitCoin a couple years back riding high at 60K. A lot of people caught the bug back then and watched the coin drop to 30K these days (and lower along the way).
If that's any parallel to silver we're in for a dip. Did stackers push silver past a healthy high? Was spot around 25 sustainable? If stackers lose interest will silver drop?
So I'm following this thread ... let's see where she lands!
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Posted 07/29/2023 08:58 am
