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As Silver Prices Continue To Climb...

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New Member
United States
38 Posts
 Posted 07/28/2020  1:39 pm  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply

Quote:
I found that the cash for gold places weren't interested in selling to the public.


Meaning they were not too interested in selling at a price level that most of us would be interested in?

That fits their business model. Buy from uninformed sellers and sell to uninformed buyers.
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United States
4034 Posts
 Posted 07/28/2020  2:06 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply

Quote:
Meaning they were not too interested in selling at a price level that most of us would be interested in?
I was well prepared to pay over spot. They had no interest in negotiating.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Canada
1051 Posts
 Posted 08/01/2020  3:35 pm  Show Profile   Bookmark this reply Add 1cent to your friends list Get a Link to this Reply
Lots of stuff has (and will continue to) hit the melting pot. I've talked to a dealer that sent thousands of still-sealed silver Canadian PL/uncirculated sets out to be melted down.
I also got a peek into a dealers gold scrap bin, and there is some very nice jewelry being sent off for melt at these prices.
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United States
3801 Posts
 Posted 08/02/2020  9:01 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply

Quote:
I found that the cash for gold places weren't interested in selling to the public.


This was exactly my experience at 75% of the cash for gold establishments I stopped at back during the last big run up and then crash. Only a few were interested in selling to the public. Part of it was I don't think they wanted to be cherrypicked and also the staff they had in these types of stores most of the time didn't have much knowledge of anything they were selling. They needed to call "their coin guy" to price stuff that wasn't junk silver or commonly seen rounds/bars.
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United States
14009 Posts
 Posted 08/03/2020  07:34 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply

Quote:
I also got a peek into a dealers gold scrap bin, and there is some very nice jewelry being sent off for melt at these prices.

Sometimes I wonder if the smelters themselves cherry pick all the Gold and Silver they get before it goes into the pot .
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United States
484 Posts
 Posted 08/03/2020  10:43 am  Show Profile   Bookmark this reply Add jskirwin to your friends list Get a Link to this Reply
The run in prices has made me face an inconvenient truth: I'm not a precious metals investor, I'm a hoarder. All I do is buy: I never sell, and when the prices rise it just means I do less buying.

I think it's a disease.
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United States
4034 Posts
 Posted 08/04/2020  5:08 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply

Quote:
The run in prices has made me face an inconvenient truth: I'm not a precious metals investor, I'm a hoarder. All I do is buy: I never sell, and when the prices rise it just means I do less buying.

I think it's a disease.
I hear ya! I've invested thousands upon thousands of dollars in health, auto and homeowner's insurance (not to mention life ins. lol) with not a single claim made in 20 years, but when you look at a PM stack, feel all warm and fuzzy!
When I listen to LED ZEPPELIN...so do my neighbors...
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Australia
777 Posts
 Posted 08/06/2020  03:04 am  Show Profile   Check ryurazu's eBay Listings Bookmark this reply Add ryurazu to your friends list Get a Link to this Reply
i think many of the people who hold silver morgan's arent going to let them go for cheap that first second. Melting will depend on what the premium silver fall to not go up by cause the higher the premium the less you going to melt these coins down you more likely to keep them. numismatic coins will depend on market more supply then a fall in price more demand then prices go up and vice versa.


What I want to know is what happened to the premiums of the newly minted and the older minted stuff premiums and how they changed when prices spiked up and when
they inevitably went down? (old timers hope I'm not being rude)
Edited by ryurazu
08/06/2020 03:11 am
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