LCS/Pm Market Report - April 2023 - Coin Community Forum

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Author	Replies: 4 / Views: 1,795
CoinHunter53562 Pillar of the Community United States 2049 Posts	Posted 04/08/2023 2:25 pm Went to the LCS and had some interesting topics discussed. 1) They are busy as ever....no surprise there with the banking crisis and everything else going on in the world. They said no one is selling and it's all buying. 2) They told me a woman came in and traded 8 10-oz bars and 30 1-oz rounds for 90%. She went home with about $128.00 face of 90%. Based on the standard of 0.715 troy ounces per $1.00 face, she lost about 20 troy ounces on the trade. She was ok doing it as she wanted something fractional or for bartering purposes, but that's not a trade I would ever do. 3) The 110 ounces he brought in were the first 0.999 to come into the shop from a customer in a month. 4) They said they have over 7,000 ounces pre-sold but their wholesaler won't deliver until the end of the month. They were already told the next order won't come in until the end of May due to the extreme demand. 5) They did have some 90% (sounds like many LCS and online dealers are dry) and had it priced at 23.5x for dimes and quarters and 24.5x for halves. SD Bullion and APMEX seem to be out of most options and were showing prices of 28x-30x or more last night. So their price is decent and they had some stock, but it's still a high premium (23.5x equates to roughly $32.87/ounce). Report this Post to the Staff

livingwater Pillar of the Community United States 2215 Posts	Posted 04/08/2023 6:29 pm Thanks for the report. My LCS jacked up their prices, 90% dimes quarters 25x, halves 26x. I don't want them at that price. This may be the new norm, we'll see. I hope premiums go down. Edited by livingwater 04/08/2023 6:35 pm Report this Post to the Staff
dsking Pillar of the Community United States 2365 Posts	Posted 04/08/2023 8:28 pm My local today was completely out of silver rounds and bars today. He usually has a great selection. He even sold his 100 oz bar as well. Apparently folks are really stocking up. His re-order will be delivered in 6 weeks. He has dozens of pre-orders. He's seen this kind of thing before but, it looks to me like there's a run on silver. His gold inventory was sold out of 1 oz of everything as well. Luckily he's pretty well stocked with Modern and Classic coins. So, we're seeing this type of thing too! His prices on those are reasonable and numismatically correctly priced. Interesting things are definitely happening in the gold and silver markets. Perhaps somewhat of a scare. I went out of the store empty handed, which is very unusual for me. Edited by dsking 04/08/2023 8:30 pm Report this Post to the Staff
CoinHunter53562 Pillar of the Community United States 2049 Posts	Posted 04/08/2023 8:51 pm Quote: Thanks for the report. My LCS jacked up their prices, 90% dimes quarters 25x, halves 26x. I don't want them at that price. This may be the new norm, we'll see. I hope premiums go down. My gut feeling tells me it will go down, but I am wrong more often than not lol. I did buy $5 face of dimes, but was somewhat hesitant to do so. I did luck out earlier in the day when a local antique mall had a case with a bunch of coins. I found 4 Spain 100 Petesas (spelling?) that are 80% silver for 94% of spot price (after taxes). I don't normally stack foreign silver, but they were cheap and getting something below spot these days is a bit of a miracle. Report this Post to the Staff
fistfulladirt Pillar of the Community United States 4333 Posts	Posted 04/09/2023 05:50 am We've had huge silver price swings of a few hundred percent in less than 5 months time the last couple years. Nothing surprises me. When I listen to LED ZEPPELIN...so do my neighbors... Roll hunting since '77 Dirt fishing since '72 Report this Post to the Staff
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