| Author |
 Replies: 14 / Views: 3,154 |
|
|
Pillar of the Community
United States
606 Posts |
I finally had a little bit of time to spend at my local coin shop (great people).
There was a lot of buying of silver rounds. In fact, I have been going for a few months and they usually had a unique round (i.e., the 2.5 ounce Draper round) that I could pick up today.
When I was there, one individual purchased 100 ounces of rounds, while others were purchasing as well. I left and came back a bit later and they were down to their last 11 rounds and someone bought them as well. My understanding is they have more arriving in a few days.
While I understand an 'N' of one does not mean anything. I just know this is the first time I haven't seen anyone selling rounds, and the first time the coin shop has been out of rounds since I started visiting them.
I would be really interested to see if others have had a similar experience, or if our shop is unique (lots of buyers and very few selling).
|
|
|
|
Valued Member
United States
309 Posts |
Buying is brisk, selling is rare the last week or so.
|
|
Pillar of the Community
United States
3789 Posts |
man, I just I see this sort of thing all the time... and it makes me sick to my stomach, because it always follows even more of a price drop and then folks wishing they hadnt bought a declining asset..... ugh...
|
|
Pillar of the Community
 United States
606 Posts |
I was thinking the same thing and only picked up a few of the walking liberty 50c 90% silver.
However, I also realize that even though a lot of us see silver dropping more, it still seems like a reasonable time to add silver at $17.50.
I hope to make it down today to see if anyone is selling and if they were able to get more rounds in stock.
|
|
Pillar of the Community
United States
606 Posts |
Hey, I noticed if I keep responding to my post, it stays in the active category!   |
|
Pillar of the Community
United States
606 Posts |
Just an update (hoping to hear others).
There wasn't a person in the place and it was a very, very slow day.
More buying than selling, but nothing like yesterday.
Given physical buyers and sellers make a fairly small market, it seems like most (at this sample size of one) are almost at a standstill.
Few buying because they think the price is still going down.
Few selling because they think the price will eventually rebound.
As a result, I wouldn't want to own a coin store right now.
|
|
Pillar of the Community
United States
1192 Posts |
The junk silver tray was almost empty when I went in a few days ago. It was mostly empty except for this one questionable lady selling her granddad's collection for beer money. He offered $6 for a few of his war medals, some foriegn coins, and some other stuff. She was pretty happy since she said she could get more than one drink out of it. :/
|
|
Pillar of the Community
United States
606 Posts |
I actually felt bad buying just $10 face value of Walking Liberty half dollars today because I have seen them at the store for a few months. I know they probably paid more than that for them, perhaps a lot more. I get that is part of the business, but these people at my shop are so nice, and I don't think they make very much because of a small town and low volume. No doubt I will enjoy it a lot more when/if prices slowly increase so it is a win/win. I hate win/lose and obviously lose/lose situations. |
|
Valued Member
United States
174 Posts |
i went to my local coin shop today ebay. $1342 buy it now, free shipping for $100 face Washington 90% quarters. The thought of buying at 13x face for "junk" we all would've died for over the last few years. It's here. Might go lower, might not. I am holding back the push of the "buy it now" button, not sure how long I can resist. |
|
Pillar of the Community
United States
606 Posts |
I think that is the exact price I paid for the walking liberty 50 cent coins.
Wait, I paid $135, so I guess I paid more.
Being new to this, what is the highest you have seen junk silver (i.e., $10 in walking liberty 50 cent). The ones I bought are in pretty good shape as I asked the owner to pick the nicest of the box.
|
|
Pillar of the Community
United States
2824 Posts |
one store was closed for remodeling lol.. the other had lots of people buying American eagles.. and other silver coins... I picked up 10 bu Mercury dimes and 5 eagles and a early Washington quarter |
|
Pillar of the Community
United States
3843 Posts |
Stopped in a shop along my way home. One guy selling Buffalo nickels and buying a gold coin and another having the dealer look at his deceased relatives accumulation of wheat cents/other common coins. Bought a few silver rounds. The dealer said that they had plenty in stock and hadn't seen a rush of buyers like they had seen in previous dips. |
|
Pillar of the Community
United States
3843 Posts |
Went to a flea market on Saturday. Didn't buy any coins but purchased some other collectible items. There were a few booths with coin including a few small coin dealers. Overall the dealers that had bullion seemed to be fairly busy even if their prices were on the high side. ASEs ranged from $23 to $26 and generic rounds and bars were priced at $21. The dealers with more numismatic offerings seem to be a lot less busy, probably for good reason since prices were a bit above what I would consider the going rate for common material like circulated barbers, worn Indian heads, and Buffalo nickels. There was a female dealer selling newer mint products and newer coinage like proof sets and state/ATB quarters. She seemed to be very busy selling inexpensive coins to kids and their parents. |
|
Pillar of the Community
United States
3843 Posts |
Went to another coin shop yesterday and picked up some junk silver. The store employee said that the number of people selling is the lowest he has seen in years and that he has been suggesting that people keep their junk silver rather than selling at depressed prices. He seemed to think that when interest rates begin to rise again, the price of silver will see a nice bounce upward.
|
|
Pillar of the Community
United States
606 Posts |
Same for me.
The store is out of just about everything except Morgans and 40% silver.
I plan to only go down about once every couple weeks until things change. It does seem online, as opposed to local coin shops, have plenty of inventory.
|
| |
Replies: 14 / Views: 3,154 |
|
Posted 09/29/2014 6:21 pm
