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Junk Silver Prices Thread - Report In Here

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Pillar of the Community
United States
2371 Posts
 Posted 08/10/2021  01:03 am  Show Profile   Bookmark this reply Add John77 to your friends list Get a Link to this Reply
Silver is at it's lowest point since the end of November, 2020... Dipped under $22.80 on Sunday, presently at $23.40 or so.
CRH Nickeloholic. 1,300,000 nickels searched in five years! Already have found THREE complete Jefferson sets!
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United States
104945 Posts
 Posted 08/10/2021  08:57 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Do not hold your breath, still a long way to go before the Mint lowers its prices.
Pillar of the Community
United States
2371 Posts
 Posted 08/10/2021  11:57 am  Show Profile   Bookmark this reply Add John77 to your friends list Get a Link to this Reply

Quote:

Do not hold your breath, still a long way to go before the Mint lowers its prices.

Well, that's never been a concern of mine, to be honest. I've never bought a thing from the Mint. If it goes low enough, may get to a point where I go to my LCS and look through their "junk silver" for some coins. All of the financial markets are really weird right now. Can't make heads or tails out of what is happening, to be honest.
CRH Nickeloholic. 1,300,000 nickels searched in five years! Already have found THREE complete Jefferson sets!
Edited by John77
08/10/2021 12:01 pm
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104945 Posts
 Posted 08/10/2021  12:11 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I've never bought a thing from the Mint.
And miss out on all the fun?
Pillar of the Community
United States
2371 Posts
 Posted 08/13/2021  10:06 pm  Show Profile   Bookmark this reply Add John77 to your friends list Get a Link to this Reply

Quote:

And miss out on all the fun?

Losing money is no fun LOL.
CRH Nickeloholic. 1,300,000 nickels searched in five years! Already have found THREE complete Jefferson sets!
Pillar of the Community
United States
1576 Posts
 Posted 08/13/2021  11:27 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
I really don't understand these ridiculous prices for junk silver: 22 times face value? Really? That's a 30% mark up!!
Edited by NumisEd
08/13/2021 11:29 pm
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104945 Posts
 Posted 08/14/2021  10:58 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Losing money is no fun LOL.
We all have our vices.
Pillar of the Community
United States
1576 Posts
 Posted 08/24/2021  12:59 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Seems like prices are slowly coming off the boil. I have now seen $1 Face Value Bag sell for 20x face.
Pillar of the Community
United States
2456 Posts
 Posted 08/24/2021  9:52 pm  Show Profile   Bookmark this reply Add Arkie to your friends list Get a Link to this Reply
LCS is buying at 18x, selling at 20x. Cherrypicked a VG 1932, full rim G 1934d, full rim G 1936, and VG 1937d for $20.
Valued Member
United States
180 Posts
 Posted 08/27/2021  5:21 pm  Show Profile   Bookmark this reply Add Dowhat to your friends list Get a Link to this Reply
I purchased Franklin halves today @ $19.50 x FV. Spot,$24.01. About 13.5 percent premium. Half the markup 6 months ago. A pretty good supply here in the Tampa Bay area so far. Much junk around.
Pillar of the Community
United States
2371 Posts
 Posted 09/03/2021  11:12 am  Show Profile   Bookmark this reply Add John77 to your friends list Get a Link to this Reply
HORRID U.S. jobs report (about 1/3 of the number expected) has spurred silver up almost $1 today to $24.80.
CRH Nickeloholic. 1,300,000 nickels searched in five years! Already have found THREE complete Jefferson sets!
Valued Member
United States
180 Posts
 Posted 09/17/2021  6:35 pm  Show Profile   Bookmark this reply Add Dowhat to your friends list Get a Link to this Reply
Purchased some 90% today. Spot @ $22.44. Purchased for $19 FV. I took quarters for $4.75 ea.
I calculated about a 19% premium. This is the Tampa Bay area in Florida
Where are your premiums running around the world?
Are my numbers right?
Pillar of the Community
United Kingdom
1926 Posts
 Posted 09/17/2021  7:27 pm  Show Profile   Bookmark this reply Add Pertinax to your friends list Get a Link to this Reply
With silver at 16.31 (USD 22.40) per ounce, pre 1920 British silver at melt is worth about 54 X face, the corresponding factor for 1920-1946 silver is 29 X face.

It used to be the case that mixed junk silver British silver fetched melt at auction in Scotland, however I've noticed a substantial premium of 30% to 50% in the past three months.

I'm wondering why this is.
Life Fellow, Royal Numismatic Society

My wants list: http://goccf.com/t/283145
Valued Member
United States
180 Posts
 Posted 09/17/2021  7:59 pm  Show Profile   Bookmark this reply Add Dowhat to your friends list Get a Link to this Reply
I would guess a supply problem.
Pillar of the Community
United Kingdom
1926 Posts
 Posted 09/17/2021  8:18 pm  Show Profile   Bookmark this reply Add Pertinax to your friends list Get a Link to this Reply
I suspect you're correct.

I have been told by scrap dealers that they've sent large amounts for melting in the past few years.

I just looked at the last six sold eBay listings for pre 1920 British solver and saw premiums over melt ranging from -1% to 260%!

I can't get to LCS so I don't know whether they sell junk silver.
Life Fellow, Royal Numismatic Society

My wants list: http://goccf.com/t/283145
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