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 Replies: 15 / Views: 1,930 |
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Valued Member
United States
339 Posts |
i went to my local coin shop today and he was completely out of scrap silver, no quarters, no dimes, no halves or dollars, just some morgans above spot price, so I settled with the only silver bullion available, a 2013 ASE to go with my 1989 ASEgot 5 steel pennies and a few foreign coins as usual i suppose once a month ill start collecting them from 1986 starting next month and work my way up only difference I see between the two I have is that the L in liberty as a light curve at the end of the horizontal line on the 2013 and a very small crease in her dress on the right that isn't in the '89 Edited by xAGENTxMULDERx
03/10/2013 02:37 am
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Bedrock of the Community
13014 Posts |
I LOVE steel pennies, by far and away my favorite penny. Any trip that results in the purchase of those is a good trip imo
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Valued Member
 United States
339 Posts |
i love the things too, I bought a bunch a while back and lost them in my trip back home, got one in circulation a few months back and bought 5 more today
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Pillar of the Community
United States
1839 Posts |
Yeah, I've had trouble finding any at my local coin shops recently as well. Perhaps the recent small drop in the price of silver sent people running to buy more.
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Bedrock of the Community
13014 Posts |
Quote:
got one in circulation a few months back and bought 5 more today Ive never found any in circulation but I have put some low quality ones into circulation for the fun of it. Hopefully someone finds them and enjoys them. Quote:
Perhaps the recent small drop in the price of silver sent people running to buy more. Some places are probably holding back their inventory as well. If they bought it at 33 or 34 selling for 29 probably isn't appealing to them if they dont need the money right away |
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Pillar of the Community
United States
1391 Posts |
My local shop is running pretty low. Last time there was a dip a lot of people came in and sold too. The selling didn't seem to happen this time. I picked up a little Mexican and Canadian silver as people aren't really interested in it where I am at.
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Valued Member
United States
161 Posts |
Thats how I completed my proof ASE set, I started at 1986 and bought two a month until I was done. I was so glad to finish that set it was becoming tiresome..almost like a chore. |
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Pillar of the Community
United States
2168 Posts |
I read that the physical silver market is short on supply. It seems the spot price is kept artificially low due to JPMorgan having a lot of paper in the short position. Seems a little fishy to me that they can so easily control our price.
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Bedrock of the Community
13014 Posts |
Quote:
I read that the physical silver market is short on supply. It seems the spot price is kept artificially low due to JPMorgan having a lot of paper in the short position. Let me guess this was from a site that was trying to sell you silver lol |
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Valued Member
United States
339 Posts |
Ive never found any in circulation but I have put some low quality ones into circulation for the fun of it. Hopefully someone finds them and enjoys them.
the one I did find looked like a copper penny, but it felt different, put a magnet up to it and it stuck, so I cleaned off the copper stain
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Pillar of the Community
United States
5208 Posts |
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Valued Member
United States
339 Posts |
24x? wow, as long as you got to fill the albums id say it worth the satisfaction of finishing up a collection
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Pillar of the Community
United States
5208 Posts |
Since melt was 22.5X face I didn't feel it was too bad of a deal. I scored a holed 1920 Pilgrim commemorative half from the same dealer for $15.
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Pillar of the Community
United States
4333 Posts |
My LCS holds sits on no inventory. If you don't get there the day that grandma sells the collection, you are outa luck. He moves a lot.
I buy more 999 now, just bought a bunch of Silvertownes for .99 over spot, mail order.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
2168 Posts |
I didn't read the article on a site trying to sell silver. I don't buy online. I don't recall the site, but I believe a link from a site we can't mention on this one. I believe that the price drop back in 2010 when silver reached the almost $50.00 spot had to do with silver paper coming due as well.
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Bedrock of the Community
13014 Posts |
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I believe that the price drop back in 2010 when silver reached the almost $50.00 spot had to do with silver paper coming due as well. Some of it but that was because people were taking their profit and getting out of it knowing that level wouldnt hold, same thing happened with people scrapping junk silver and selling physical. The scarcity rumors are just as much responsible for a drive up in price as the paper selling is for keeping it down. Paper silver did also drive up the price when all the shares were first bought. Theres short comings in supply from demand, but theres not an actual shortage of silver. The mines still have silver and were still finding new mines. The higher price also means that they can mine some of the harder to reach silver that wasnt worth it before. A true shortage would be the mines drying up and no new silver in sight. If that were actually happening you would see the price going way way up with heavy buying in the paper in and mints charging much more for their silver products possibly scrapping the bullion coins all together. |
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Replies: 15 / Views: 1,930 |
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Posted 03/10/2013 03:24 am
