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Any Insights On Whether Junk Silver Is Hard To Acquire These Days?

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United States
28 Posts
 Posted 05/21/2020  01:06 am  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply
Because of the constant premium that US silver coins have, sometimes modest premiums and sometimes very high premiums like now, would you expect that there has been very little silver US coin melting?
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Australia
17077 Posts
 Posted 05/21/2020  01:29 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Silver has become in recent years has become increasingly scarce in dealers' junk boxes at their shops, and at coin shows. Unless it comes very cheaply, I am not interested.
Success rate much higher than coin roll hunting, because you have to pay a little.

My chief source of junk silver has come from auction job lots, where silver has not been the main interest of the lot.
That way, I get World junk silver at very reduced, or even zero cost, because there is something else I happen to be interested in. It also means that I accumulate junk silver at a very low rate, because it is never my main interest.

I have been successful in only one auction job lot where junk silver was the only interest. The only reason why I won, is because nobody else put in a bid. I got lucky; my bid was very low.
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New Zealand
973 Posts
 Posted 05/21/2020  02:47 am  Show Profile   Bookmark this reply Add Princetane to your friends list Get a Link to this Reply
It's fairly easy here in New Zealand, if anything they are wanting for buyers. Mostly the junk silver is from less popular countries with us.

I picked up this lot that had nearly 1 pound of silver weight (All coins .833 silver)



It cost me $480 NZ which equates to $290 USD and the silver melt on it was around $455 NZD. 7 coins were not silver, but weighed under 10 grams and the dealer refunded me $20 - S I paid $5 over melt for it.

In it was many collectable pieces and only about half of it was true scrap.

I consider that a bargain and obviously if you get a good deal in NZ, you can get it anywhere else.
Loving Halfcrowns. British and Commonwealth coins 1750 - 1950 and anything Kiwi.
If it's round, shiny and silvery I will love it.
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United States
269 Posts
 Posted 05/21/2020  12:36 pm  Show Profile   Bookmark this reply Add Snoopydoo to your friends list Get a Link to this Reply
Well here's my inventory of what I purchased, glad I checked, they shorted me, and I sent them an email, waiting to see how they will respond.

My order was for $200 face value, (400 half dollars) Franklin 90% Silver half dollars.

Here's the accounting for what was actually received:
90% silver Liberty half dollar - 1
90% silver Franklin half dollar - 377
90% silver Kennedy half dollar - 17
40% silver Kennedy half dollar - 1

Liberty 1935 - 1
Franklins -
1948 - 1, D-4
1949 - 3, D-5, S-4
1950 - 10, D-8
1951 - 17, D-9, S-14
1952 - 15, D-15, S-5
1953 - 4, D-8, S-6
1954 - 8, D-22, S-3
1955 - 0
1956 - 2
1957 - 4, D-24
1958 - 3, D-22
1959 - 9, D-17
1960 - 1, D-16
1961 - 3, D-19
1962 - 8, D-25
1963 - 11, D-51
Kennedy
1964 - 12, D-5
1966 - 1 (40% Silver)

I checked for the known DDR's, DDO's, and RPM's, did not find any.

But the stacks are pretty!!

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United States
269 Posts
 Posted 05/28/2020  02:07 am  Show Profile   Bookmark this reply Add Snoopydoo to your friends list Get a Link to this Reply
Well, JM Bullion responded apologetically and said they will be immediately sending out the coins they shorted me on this order of junk silver.
So I have to give credit where credit is due.
It's nice to see a company stand behind their product, and make things right.
If anyone finds a deal on acquiring junk silver at a more in line price please share the contact information. I've apparently paid way too much here, but didn't know any better.
Hope everyone is safe and healthy as we try to transition back to some form of normalcy of life!
Take care, and thanks for sharing your knowledge here, for us rookies.
New Member
United States
6 Posts
 Posted 06/01/2020  12:32 am  Show Profile   Bookmark this reply Add MrUpwardlyMobile to your friends list Get a Link to this Reply
I don't have trouble finding junk silver coins at local shops, they all have at least some for sale. Most recently, I purchased 250 Mercury dimes for $357 on 5/22 and 50 Walking Liberty half dollars for $363 on 5/29. That's close to $40 above spot in each case.

I'm just not sure how silver can be a sound investment when premiums are so high. Where does one buy junk silver coins without huge premiums like this?
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United States
3973 Posts
 Posted 06/01/2020  05:55 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply

Quote:
I'm just not sure how silver can be a sound investment when premiums are so high. Where does one buy junk silver coins without huge premiums like this?
Since I started buying back in the late 1970's I've found silver Prices hit or miss. Ive bought privately, from local dealers, shows and on line. I've never really considered it an investment because it's a poor one. Currently, there's a large disconnect between the spot price and premium that one pays on top of that, which happens from time to time. You didn't do bad on your buy. Welcome to forum.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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5120 Posts
 Posted 06/01/2020  08:52 am  Show Profile   Bookmark this reply Add USSID18 to your friends list Get a Link to this Reply
Two words that should never be used in the same sentence: Coins and investment.
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In Memory of Tootallious March 31, 1964 to April 15, 2020
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87820 Posts
New Member
United States
6 Posts
 Posted 06/01/2020  3:50 pm  Show Profile   Bookmark this reply Add MrUpwardlyMobile to your friends list Get a Link to this Reply
Thank you. I hope to learn a lot while I'm here.

Separately, where does everyone buy their junk silver coins? On various reputable websites, it seems like I'd have to pay a premium that is 20-40% of the spot price. When I go to local coin shops or gold/silver shops, the best I can negotiate them to do is a 10% premium over spot. I buy silver as a hedge against hyper-inflation and potential negative interest rates. Those are remote possibilities so they aren't exactly big positions for me to prepare for. Even so, that still seems really expensive given that the same stores would never pay more than 90% of spot to buy.

It seems like spot price is basically not a real thing.
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United States
3973 Posts
 Posted 06/01/2020  5:24 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply

Quote:
It seems like spot price is basically not a real thing.
There is no seem about it. PM's are heavily manipulated on paper, and CB's have been fined for doing so. Profits outweigh the fines.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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