A couple of long time CU members are paying 12+ times for 90% silver, question??

KollectorKing · July 30, 2015 6:06AM

What do they know that I don't, a lot...care to chime in & guess, comment, speculate, etc?

For me I'm having doubts on paying 10x especially on dimes off CL.

KK

rawteam1 · July 30, 2015 6:20AM

<< What do they know that I don't, a lot...care to chime in & guess, comment, speculate, etc?

For me I'm having doubts on paying 10x especially on dimes off CL.

KK >>

They know that wherever they are, for them, it's a good deal... Pretty simple...

guitarwes · July 30, 2015 7:16AM

If someone would sell me some I would quit asking.

RyansRust · July 30, 2015 9:20AM

I'm new to PM and found some constitutional quarters in a storage unit. Looked at prices on ebay and gave some to my son (I valued at $2.50 per) for payment for helping. Then went to buy some to fill the roll. Had to pay 14x (free shipping) as I couldn't find any cheaper. Think I can buy generic .999 for cheaper but the old quarters do look so cool. Like how the worn ones feel and sound too. I don't dare touch my new coins/rounds.

I'd gladly buy more at 12x

rawteam1 · July 30, 2015 10:08AM

<< I'm new to PM and found some constitutional quarters in a storage unit. Looked at prices on ebay and gave some to my son (I valued at $2.50 per) for payment for helping. Then went to buy some to fill the roll. Had to pay 14x (free shipping) as I couldn't find any cheaper. Think I can buy generic .999 for cheaper but the old quarters do look so cool. Like how the worn ones feel and sound too. I don't dare touch my new coins/rounds.

I'd gladly buy more at 12x >>

Not always, but normally the less you buy the more one pays(or should pay)...

RyansRust · July 30, 2015 10:51AM

<< 

<< I'm new to PM and found some constitutional quarters in a storage unit. Looked at prices on ebay and gave some to my son (I valued at $2.50 per) for payment for helping. Then went to buy some to fill the roll. Had to pay 14x (free shipping) as I couldn't find any cheaper. Think I can buy generic .999 for cheaper but the old quarters do look so cool. Like how the worn ones feel and sound too. I don't dare touch my new coins/rounds.

I'd gladly buy more at 12x >>

Not always, but normally the less you buy the more one pays(or should pay)... >>

Yeah. I bought 28 and tried to get them for $3 per but no...

jmski52 · July 30, 2015 1:17PM

What is a constitutional quarter? Never heard of those before.

rawteam1 · July 30, 2015 1:22PM

<< What is a constitutional quarter? Never heard of those before. >>

Lol, Man U ol timers... A US 90 percent silver quarter, US stands for the United States of America...

streeter · July 30, 2015 1:51PM

<< What is a constitutional quarter? Never heard of those before. >>

Well I was going to ax the same thing. Is this a 40% bicentennial quarter?

rawteam1 · July 30, 2015 1:58PM

<< 

<< What is a constitutional quarter? Never heard of those before. >>

Well I was going to ax the same thing. Is this a 40% bicentennial quarter? >>

Lol, omg, c above post, that's the one right before yours, the post that sits on top of your post...you know the one time stamped right before your post, which is above this post, which is also below that post which is above both...

OperationButter · July 30, 2015 2:03PM

<< 

<< 

<< What is a constitutional quarter? Never heard of those before. >>

Well I was going to ax the same thing. Is this a 40% bicentennial quarter? >>

Lol, omg, c above post, that's the one right before yours, the post that sits on top of your post...you know the one time stamped right before your post, which is above this post, which is also below that post which is above both... >>

So what is it?

rawteam1 · July 30, 2015 2:05PM

Lol, the air is thick and dense here...

streeter · July 30, 2015 2:06PM

Raw team,

I was born at night but it wasn't last night.

I've never heard that expression. And I still haven't heard it.
I know what a constitutional is.
I know what a quarter is.
I don't know what a constitutional quarter is. Is it the opposite of an unconstitutional quarter?

streeter · July 30, 2015 2:11PM

Really the kid completely missed the boat.

He should have sold them back to the old man and made an extra 4x and he'd have been liquid to boot.

rawteam1 · July 30, 2015 2:49PM

<< 

<< What is a constitutional quarter? Never heard of those before. >>

Lol, Man U ol timers... A US 90 percent silver quarter, US stands for the United States of America... >>

Am I missing something here??? People can't read the above sentence???... No??? Why???

streeter · July 30, 2015 3:14PM

I agree the air is dense.

RT, you are the only reference to US 90%. Not one other reference in the thread.

See my sig line. Good night Mrs Calabash where ever you are.

rawteam1 · July 30, 2015 3:32PM

<< I agree the air is dense.

RT, you are the only reference to US 90%. Not one other reference in the thread.

See my sig line. Good night Mrs Calabash where ever you are. >>

Well Gggggooooooooollllleeeee Sargent Carter, u iz a winnah...

piecesofme · July 30, 2015 8:18PM

I can't buy it, and ship it (key thing) for less than what every local dealer wants around here. and it doesn't matter if I buy $10 face or $1000 face. The quantity discounts are a thing of the past now.
So my estimation is that those "longtime CU members" are right on the nut with their buy pricing, so it comes down to who's going to pay the shipping which for a full sfrb of 90% it's going to be around $25.
So one has to ask themself, if I can't make $25 on a sfrb full of 90%, is it worth my time and risk?

cohodk · July 30, 2015 8:42PM

<< What is a constitutional quarter? Never heard of those before. >>

I don't know what he's talking about either. Still dont.

jmski52 · July 30, 2015 10:11PM

if I can't make $25 on a sfrb full of 90%, is it worth my time and risk?

lol, maybe this should be a mystery thread. What's a sfrb?

Tuco, please help guide me through this Brave New World.

bronco2078 · July 30, 2015 10:13PM

<< if I can't make $25 on a sfrb full of 90%, is it worth my time and risk?

lol, maybe this should be a mystery thread. What's a sfrb?

Tuco, please help guide me through this Brave New World.

>>

Small Flat Rate Box

jmski52 · July 30, 2015 11:00PM

Thx Bronco. I should've known that.

BAJJERFAN · July 31, 2015 12:09AM

<< 

<< What do they know that I don't, a lot...care to chime in & guess, comment, speculate, etc?

For me I'm having doubts on paying 10x especially on dimes off CL.

KK >>

They know that wherever they are, for them, it's a good deal... Pretty simple... >>

Yep. Must have buyers willing to pay more LOL and prolly expecting silver to drop and demand for 90% to rise is my guess. I see one place where buyers are offering $12.75 x face.

piecesofme · July 31, 2015 1:27AM

I see one place where buyers are offering $12.75 x face

Yes, but they want you to send them the product first before paying to inspect it to make sure it's not too thinly weighted, as are some of the buyers here.
I suppose that's fine, but I wouldn't mail more than what I felt I could suffer a loss on, which these days, wouldn't be enough to bother to mail...back to square one again.

topstuf · July 31, 2015 1:53AM

I don't know what "THEY" know, but.... I..... know that there is no interest in my .999 ouncers and I get a lot of hopers thinking they can get some 90% outta me.

Nope.

LONG time ago when I was sending 90% to the smelter, I opined to the wife that SOMEDAY the coins would outshine the tons and tons of .999 "out there."

Another factor is that for "stackers" I feel there is far less risk of any prohibition on it since to do so would step on the toes of too many "moms an pops" who have some in their coffee cans and would be soundly pissed off about any messing around with their stuff.

We'll see who's right.

rawteam1 · July 31, 2015 2:17AM

The only thing "they" know, is how to maneuver a sucka...

BAJJERFAN · July 31, 2015 2:23AM

<< I see one place where buyers are offering $12.75 x face

Yes, but they want you to send them the product first before paying to inspect it to make sure it's not too thinly weighted, as are some of the buyers here.
I suppose that's fine, but I wouldn't mail more than what I felt I could suffer a loss on, which these days, wouldn't be enough to bother to mail...back to square one again.

>>

Depends on how trustworthy one is; just like here. I didn't see it as pre-shipment required.

LowBudget · July 31, 2015 3:19AM

<< I'm new to PM and found some constitutional quarters in a storage unit. Looked at prices on ebay and gave some to my son (I valued at $2.50 per) for payment for helping. Then went to buy some to fill the roll. Had to pay 14x (free shipping) as I couldn't find any cheaper. Think I can buy generic .999 for cheaper but the old quarters do look so cool. Like how the worn ones feel and sound too. I don't dare touch my new coins/rounds.

I'd gladly buy more at 12x >>

better than finding mahogany flats in there

wheatguy · July 31, 2015 3:33AM

I'm leaving to start school at Cornell University in a few weeks, and have around $55 face silver that I bought partly with eBay Bucks when silver was around $23/oz. I was thinking of just selling it now and eating the loss, what do you guys think?

rawteam1 · July 31, 2015 3:47AM

<< I'm leaving to start school at Cornell University in a few weeks, and have around $55 face silver that I bought partly with eBay Bucks when silver was around $23/oz. I was thinking of just selling it now and eating the loss, what do you guys think? >>

It all depends really on what exactly you are going to eat, porterhouse, Maryland blue crabs, home made ravioli???...

BAJJERFAN · July 31, 2015 3:55AM

<< 

<< I'm leaving to start school at Cornell University in a few weeks, and have around $55 face silver that I bought partly with eBay Bucks when silver was around $23/oz. I was thinking of just selling it now and eating the loss, what do you guys think? >>

It all depends really on what exactly you are going to eat, porterhouse, Maryland blue crabs, home made ravioli???... >>

Ramen nootles! Lotsa Ramen nootles!

BAJJERFAN · July 31, 2015 3:59AM

<< I'm leaving to start school at Cornell University in a few weeks, and have around $55 face silver that I bought partly with eBay Bucks when silver was around $23/oz. I was thinking of just selling it now and eating the loss, what do you guys think? >>

I wonder how many selling it now are actually making money from it.

rawteam1 · July 31, 2015 4:12AM

It's funny, I wonder what compels a person to ask a question like that...
I'm thinking, why don't you ask the person who you originally asked if you should buy it and who told you to buy it...

guitarwes · July 31, 2015 4:26AM

<< I'm leaving to start school at Cornell University in a few weeks, and have around $55 face silver that I bought partly with eBay Bucks when silver was around $23/oz. I was thinking of just selling it now and eating the loss, what do you guys think? >>

Sounds like a great idea! I just so happen to have a WTB ad on the BST for it (and happen to be one of the buyers the OP is probably talking about)

I would take more than my stated amount if the price is right.

Good luck with college!

cohodk · July 31, 2015 9:30AM

<< I'm leaving to start school at Cornell University in a few weeks, and have around $55 face silver that I bought partly with eBay Bucks when silver was around $23/oz. I was thinking of just selling it now and eating the loss, what do you guys think? >>

Ithaca, NY? I think you will find a down parka and a ski mask much more enjoyable than a few oz of silver

jmski52 · July 31, 2015 9:46PM

I'm leaving to start school at Cornell University in a few weeks, and have around $55 face silver that I bought partly with eBay Bucks when silver was around $23/oz. I was thinking of just selling it now and eating the loss, what do you guys think?

I think that if you decide to sell, guitarwes would offer you fair value.

The real answer depends of course on your total financial picture. I'm guessing that you bought the silver as a speculation, hoping to pile up some extra liquidity for that first year in school. If that's the case, what was your time horizon when you bought? If Aug-Sept of 2015 was your time horizon, you simply missed on the speculation. In that case, sell.

If you have other resources and planned on keeping the silver as a long term asset, you have to balance selling the silver vs. whatever else you might decide to sell.

If you have other coins or bullion to sell at a profit, sell them all this year and neutralize those gains with the loss on the silver.

It's not a huge amount of money, but for a 1st year college student it could come in handy. Consider the utility of having the money handy vs. being strapped for cash at an inopportune time. Having it available doesn't mean you have to spend it.

Hey, good luck at Cornell!

I wonder how many selling it now are actually making money from it.

I'm selling some items, some of which are silver, at a loss on ebay - in order to offset some of the outrageous gains I made when I "bought right". In a down market, it's time to get rid of the stuff you don't want, generate more free capital, and buy stuff that you think will appreciate. Right, rawteam? Right? Gimme Five!

*Thought for the Day - "The price level doesn't matter as much as how you manage it once you've accumulated it."

CaptHenway · August 1, 2015 8:46AM

As a rule, when the spot price for a particular precious metal is down, the demand for physical product in that precious metal is up, while the supply decreases as people decide that they do not want to sell at that low level. That causes the buy and sell premiums to rise.

Now let's say that the spot price of silver were to double, or triple. The demand to buy would plummet, while more and more people decide to cash in and sell. That causes the buy and sell premiums to fall.

Some people never understand this, and complain that they cannot get over melt when spot prices are high, or buy for under melt when spot prices are low.

wheatguy · August 1, 2015 9:21AM

I do have other money I've saved up this year from tutoring local students for the SAT so I don't need the money from selling the silver, I was just wondering if you guys thought silver might appreciate in the near future and if I should hold on to it. Thank you guys for the input, and also to everyone who wished me look at Cornell.

wheatguy · August 1, 2015 9:22AM

<< 

<< I'm leaving to start school at Cornell University in a few weeks, and have around $55 face silver that I bought partly with eBay Bucks when silver was around $23/oz. I was thinking of just selling it now and eating the loss, what do you guys think? >>

Ithaca, NY? I think you will find a down parka and a ski mask much more enjoyable than a few oz of silver >>

Definitely true, I've lived in SoCal my whole life and I have no idea how I'm gonna survive

Ahrensdad · August 3, 2015 12:24AM

I'm sure someone else has made mentioned this, but I haven't read the entire thread...but there are several of the larger wholesale oriented dealers that are currently paying higher than melt through the deal networks, and putting them a little over 12x face. It seems to me that forum members which are tuned into the market know that have the pay a price which is commesurate. This price is not a red flag to me at this time.
Andrew

Overdate · August 3, 2015 2:51AM

Back in 1980 when silver approached $50, silver coin bags (90%) were trading more than 25% back of melt. I heard that the smelters were backed up for weeks, and the discount was due to two factors: (1) Most retail holders wanted to sell rather than buy (big lines at some of the coin dealers), and (2) buyers needed to offset the risk that the price of silver would fall before they could have their silver coins melted.

Later in 1980, after the silver price crashed, the supply/demand equation reversed and the 25% discount on 90% bags turned into a 15% or higher *premium*. Many retail customers and speculators thought the price of silver would rise again and were willing to pay up for the opportunity to cash in once more. (This was the era before mass production of silver bullion coins and availability of silver exchange traded funds.)

Since that time, 90% silver coins have sometimes traded at a premium to melt and sometimes at a discount. Enough of these coins have now been melted that scarcity may be a factor in their currently rising premiums.

A couple of long time CU members are paying 12+ times for 90% silver, question??

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