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 Replies: 26 / Views: 4,736 |
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Pillar of the Community
Australia
7096 Posts |
The last time Silver was over $40 an ounce Many of the better grade/quality coins came out of the woodwork and sold for pretty much bullion value. Some of the bulk lots for sale/auction on ebay are probably collections that are being sold to take advantage of the spike in the Silver values at these times. This also encourages new collectors to the hobby as well  |
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Pillar of the Community
Canada
2845 Posts |
Quote:
I've since installed a breathalyzer on my keyboard so the faux pas does not happen again.
No problem! Canada Day celebrations and all, that can happen. That breathalyzer, like this I suppose, except you're asked to click? Tough to beat.  |
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Pillar of the Community
Canada
2845 Posts |
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This also encourages new collectors to the hobby as well
Yes it does. For whatever reason there seems to be a perpetual rumour that silver is going to skyrocket at some point in time. While I'm not quite so optimistic, I agree even a small hike will prompt new collections into the hobby. Similarly, I noticed the market for 1912-1914 gold coins and other gold NCLT took a healthy increase as gold bullion climbed over the past few months as well. It would also be beneficial if silver prices gained enough ground to warrant more low grade silver coins getting melted. Culling of the excess might put demand and supply back into sync. |
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Pillar of the Community
Canada
2366 Posts |
Can't say I really feel that the Canadian coin market is currently in bad shape. It's definitely changed a lot in the last ten years. Much more diversified and spread-out than it used to be. Fragmented even. Coin shows are no longer the majority of the market. And high end circulation coins are just a small piece of the 'new' market. I don't see much of a correlation between PM prices and high end circulation coin prices. More of a relationship to 'financial good times'; similar to fine art. PM prices correlate more to the value of run of the mill silver coins. The NCLT market 'explosion' caused by the rapid RCM product expansion a few years back is starting to settle down (I think dealers have adjusted their purchasing practices to the new environment and we're not seeing the huge dumpings of post-release product that we were back in 2012-2014 that pushed prices down so low in the after-market. But that's a personal opinion.). The recent drop in the Canadian dollar has increased US demand significantly and, again in my personal opinion, more than the recent increases in PM prices have. In short, I would say the coin market has grown much more complex, moved more online, and is affected by more factors than it was even 10 years ago. But is not in bad shape. |
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Pillar of the Community
Canada
1581 Posts |
There are several reasons for the silver rumour.
1) The tradition (over millennia) that gold is worth 50x silver. Yet, has been 70x - 100x in recent decades.
2) Silver is an industrial metal. It has MANY uses. Speaker wire, silver oxide batteries, solar panels and MSRA-killing bandaids being examples. It isn't hanging around in massive vaults, like most of the gold ever mined. And while hopefully most is recyclable, some is actually lost.
3) Much silver is a byproduct of other metal production. If those mines are shuttered, or not brought online, then silver production is hurt.
4) It is still perceived that the end of chemical photography killed silver's market.
If something causes new demand for large amounts of physical silver, there could suddenly be physical shortages. And, of course, spot would spike.
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Valued Member
Canada
495 Posts |
Interesting that some of the newer members are having similar experiences with LCS and dealers who don't know how to treat a customer with common courtesy. It reminds of a friend of mine who was asked by his aging Uncle to take him to a car dealer last year, he wanted to buy a new car and this guy has enough money to buy the dealership he was going to but when he arrived with his nephew and wanted to take a $40K plus car for a spin was turned off by the salesperson and treated like a pauper so they promptly left and returned that afternoon with an even more expensive vehicle from their competitor and asked to see the owner and the sales person that he met earlier that day to show them what he got and paid cash for, needless to say the sales guy was fired but the dealership will never get any future business from that family.
There are some good dealers to do business with and some of them are on this site and have much respect from those of us who have done business with them but there are also plenty around like the sales person at the car dealership.
In this world we will always have the unscrupulous and shady con artists to deal with so be wary like a fox, get advice from members on this site who only want to see our hobby grow and be enjoyed as we/they have.
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Valued Member
Canada
257 Posts |
Very well said Macdon!
I've seen many good and bad and you can guess who will get my business first :)
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Pillar of the Community
Canada
1442 Posts |
"For example I had a NGC graded $7000 trends penny. That price is for a red coin, and mine was graded red brown. He asked me what I wanted for it, and I said $3200 so he could make some money and due to the RB (a reasonable opening offer). The dealer tried to convince me red brown is extremely undesirable and would only offer $1650 for it. Needless to say I sold it for almost $4000 on ebay a few weeks later." That dealer was a fool. I had absoutely no buyer's remorse on that purchase ;) |
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Valued Member
Canada
257 Posts |
I'm glad you ended up with it :) I'm very very happy hehe
Plus owning that '59 #4 was an experience too
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Pillar of the Community
Canada
1046 Posts |
good bump for ag as of late i hope i`m able 2 copy the chart regards  |
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Pillar of the Community
Canada
1581 Posts |
Here's the CAD view over the last three months:  So, a 30% pop in a month after trading in a range. |
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Replies: 26 / Views: 4,736 |
First Page
Posted 07/03/2016 8:45 pm
