What is 90% actually selling for now? Other silver also

Ahrensdad · March 17, 2020 6:26AM

Given the significant price drop and that de-coupling of paper and physical, what are you seeing silver actually selling?

I’ve seen an online seller trying to get 17x FV for 90% and I think wow. I heard that with all the shows closed, local shops have sold out, but the demand remains high.

What are you seeing?

MilesWaits · March 17, 2020 6:35AM

I see that my dealer for the first time ever put his phone number, that he can be reached after hours, on his door when he is closed.
He was bored out of his mind a couple of months ago and now he is bringing home the bacon.

jmski52 · March 17, 2020 6:44AM

Kitco's silver NY Spot Bid is $12.53.

There's no way any real transactions are taking place at that price. Anywhere.

Ahrensdad · March 17, 2020 6:45AM

@jmski52 said:
Kitco's silver NY Spot Bid is $12.53.

There's no way any real transactions are taking place at that price. Anywhere.

I agree that sales are not taking place at the current spot price.

MilesWaits · March 17, 2020 8:06AM

Pawn shops! That’s where you can get a spot for your metal or just below

bronco2078 · March 17, 2020 8:18AM

https://www.ebay.com/itm/90-Silver-Coins-10-Face-Value-Roll-SKU-16486/353009448409?hash=item523100b5d9:g:1hcAAOSw9PNebnJn

bronco2078 · March 17, 2020 8:20AM

Then you have the idiots still paying $50 for a silver eagle thats PCGS 70

BBN · March 17, 2020 10:04AM

My lcs guy was charging 12x face as of about 10-12 days ago. Not sure now as his shop is closed today. He is 85 years old so I think he's staying at home for now. Not to mention, whatever he has now he probably isn't selling.

ricko · March 18, 2020 6:37AM

Amazing... Kitco (and others) prices tank, and people now buying feverishly at more than pre-drop prices.... Cheers, RickO

isaiah58 · March 18, 2020 7:01AM

@MilesWaits said:
Pawn shops! That’s where you can get a spot for your metal or just below

So, you recommend people selling their 90% silver to pawn shops? Melt is under 9x face.

It would be foolish for anyone to sell their physical silver right now. If you feel that is the only resource you have, and need cash, call your LCS and find out what they are offering. I guarantee they have people ready to buy 90% around 12x face if not 13x. For .999 people are paying over $17 an ounce still.

Dealers have no incentive to be open and have to debate with selfish buyers as to spot versus physical.

The physical market determines the physical price. Dealers are not required to sell their inventory regardless of the market

Smudge · March 18, 2020 7:31AM

$18 per oz or more. Otherwise sold out. Edit 13 or 14 x face.

jclovescoins · March 18, 2020 7:58AM

Just posted a large lot of 90% at 14x. It seems all the major dealers are at 15.5-16X face value.

MilesWaits · March 18, 2020 8:29AM

It was a Pawn pun, Isaiah.

Smudge · March 18, 2020 9:24AM

I am sure glad that I don’t NEED to sell any pm’s. People in that situation will be the ones hurt.

Jinx86 · March 18, 2020 10:08AM

ASE +9
Generic silver of all sorts +4
1oz gold +8-9%
US90% +8

Jinx86 · March 18, 2020 10:09AM

Also we had to lock our doors. Too many people in the shop. Working buy appointment only with 5 retail staff fully booked.

Bayard1908 · March 18, 2020 10:10AM

@Jinx86 said:
ASE +9
Generic silver of all sorts +4
1oz gold +8-9%
US90% +8

That might be the asking price. I'm not so sure that sales are taking place at those prices.

bronco2078 · March 18, 2020 10:22AM

plenty of stuff you can sell for a premium , you just had to buy right.

You can see clearly that having a mixed stack is a better strategy than focusing on one thing .

I have hundreds of morgan dollars I could probably still sell for $20 each.

I have about 50 circulated 8 reales I could post on ebay and probably get $50 each.

generic rounds and 1 ounce bars probably are the lowest priced things now although if you were dumb enough to have a pile of 1000 ounce bars then I dont want to be you. You bought the 1000 ounce bar for 20 cents an ounce less than a lot of 100 10 ounce bars so you saved 200 bucks up front and now you are staring in to the abyss , which is priceless

A
My canadian and US postage stamps are still selling for the same % of face as a month ago.

MRE's are to the moon alice

With gold I don't plan on selling but I am happier if I do to be able to sell a few 20 francs at a lower melt price than being forced to sell whole ounces ouch. Easier to find buyers for smaller coins in a down market also.

I just put all my 14k wedding bands on my toes just in case I need to sneak over a border somewhere ,

Jinx86 · March 18, 2020 10:24AM

@Bayard1908 said:

@Jinx86 said:
ASE +9
Generic silver of all sorts +4
1oz gold +8-9%
US90% +8

That might be the asking price. I'm not so sure that sales are taking place at those prices.

Sales are taking place so fast we had to lock the doors and put people in a que.

Smudge · March 18, 2020 10:52AM

I would expect one of the big outfits to offer 8x face for junk silver. They are selling for over 15x face now. Better hold and wait this out.

Jinx86 · March 18, 2020 10:58AM

I think apmex is 17.90 ask

isaiah58 · March 18, 2020 12:35PM

For auctions with no minimum:

Generic Franklin's are closing online for over $8 if shipping is included. .999 of most kinds $18 to $19 in lots, higher individually. ASEs at least $22 each by the roll, $24+ individually.

I am not tracking Buy It Now.

Any dealers website that lists silver under $17 an ounce does not allow buyers to add any to the cart.

Tiggs2012 · March 18, 2020 2:37PM

We have dealers closing up shop and seems like ALL of them are saying long shipping delays with record numbers reported. Everything drying up. Massive upscale distributor issues from entities like the US Mint and the Canadian mint. Interesting times.

Whats the silver:toilet paper ratio?

LukeMarshall · March 18, 2020 4:26PM

@bronco2078 said:

.....

generic rounds and 1 ounce bars probably are the lowest priced things now although if you were dumb enough to have a pile of 1000 ounce bars then I dont want to be you. You bought the 1000 ounce bar for 20 cents an ounce less than a lot of 100 10 ounce bars so you saved 200 bucks up front and now you are staring in to the abyss , which is priceless

.....

Bullionstar of Singapore is selling 1000oz bars at 5 dollars over spot currently...

Whoop, just checked they are sold out as they've had 15 ordered in the last week.

That guy buying at 20¢ over not looking sodumb imo

Jinx86 · March 18, 2020 5:29PM

@LukeMarshall said:

@bronco2078 said:

.....

generic rounds and 1 ounce bars probably are the lowest priced things now although if you were dumb enough to have a pile of 1000 ounce bars then I dont want to be you. You bought the 1000 ounce bar for 20 cents an ounce less than a lot of 100 10 ounce bars so you saved 200 bucks up front and now you are staring in to the abyss , which is priceless

.....

Bullionstar of Singapore is selling 1000oz bars at 5 dollars over spot currently...

Whoop, just checked they are sold out as they've had 15 ordered in the last week.

That guy buying at 20¢ over not looking sodumb imo

If someone could afford it and store it safely, 1000 oz bars can be a great buy. Few weeks ago the demand(premium) was higher for 1000 oz bars then it was for 100 oz bars

bronco2078 · March 18, 2020 5:38PM

regular shmoes dont need giant bars

Smittys · March 19, 2020 8:35AM

Just wait a few weeks and buy all the silver you want at cheap prices. Or buy industrial bars 1000 oz, min 5 at a time at spot plus shipping. The bullion dealers are buying them, they're just on backlog but they are buying at spot

Kccoin · March 21, 2020 12:07PM

in the lcs today, I saw 10 tubes of ASEs sell for 19.5 each.

BBN · March 21, 2020 12:35PM

People are losing their ever lovin' minds in eBay auctions. Give it a few weeks when this blows over and people will be dumping them. A lot of buyers new to this game panic bought by a recommendation from a friend of a friend and will want to dump them by summer.

davidk · March 21, 2020 12:54PM

@jmski52 said:
Kitco's silver NY Spot Bid is $12.53.

There's no way any real transactions are taking place at that price. Anywhere.

I believe Kitco will BUY for that.

MsMorrisine · March 21, 2020 2:18PM

and how pissed will sellers of their $20 silver be when they hear the buy price

Jinx86 · March 21, 2020 2:59PM

@MsMorrisine said:
and how pissed will sellers of their $20 silver be when they hear the buy price

I had a few people call me a crook last week. I also had Apmex and JM and other sites up on my computer to show them I was cheaper....and mine was in hand. That helped a few ease up, still others couldnt fathom paying over $1 over spot on 100 oz bars.

Justacommeman · March 21, 2020 4:03PM

Our biggest guy in LA is at

Silver ASE buy $16.xx Sell $22.xx

Gold AGE buy $1513. Sell $1613

Generic silver rounds buy $12.xx. Sell $18.xx

RCM 100 oz bars buy at $1261.00 sold out

$1000 face 90% bags buy $10,440. Sold out

mark

Jinx86 · March 21, 2020 4:33PM

@Justacommeman said:
Our biggest guy in LA is at

Silver ASE buy $16.xx Sell $22.xx

Gold AGE buy $1513. Sell $1613

Generic silver rounds buy $12.xx. Sell $18.xx

RCM 100 oz bars buy at $1261.00 sold out

$1000 face 90% bags buy $10,440. Sold out

mark

Surprised he has ASE's for sale. We had three pallets of 25,000 each come in Thursday/Friday, all were spoken for. Our shipping department was at it today even, they have never had to work on a Saturday before to fill orders.

Justacommeman · March 21, 2020 7:53PM

@Jinx86 said:

@Justacommeman said:
Our biggest guy in LA is at

Silver ASE buy $16.xx Sell $22.xx

Gold AGE buy $1513. Sell $1613

Generic silver rounds buy $12.xx. Sell $18.xx

RCM 100 oz bars buy at $1261.00 sold out

$1000 face 90% bags buy $10,440. Sold out

mark

Surprised he has ASE's for sale. We had three pallets of 25,000 each come in Thursday/Friday, all were spoken for. Our shipping department was at it today even, they have never had to work on a Saturday before to fill orders.

California Numismatic Investments

https://www.golddealer.com/

m

cohodk · March 22, 2020 4:19AM

@Justacommeman said:
Our biggest guy in LA is at

Silver ASE buy $16.xx Sell $22.xx

Gold AGE buy $1513. Sell $1613

Generic silver rounds buy $12.xx. Sell $18.xx

RCM 100 oz bars buy at $1261.00 sold out

$1000 face 90% bags buy $10,440. Sold out

mark

So it looks like the paper market and physical market are in sync and that the industry is ripe with price gougers.

jmski52 · March 22, 2020 5:12AM

Thanks for the link, Mark. CNI looks like a competitive dealer.

Jinx86 · March 22, 2020 5:41AM

@cohodk said:

@Justacommeman said:
Our biggest guy in LA is at

Silver ASE buy $16.xx Sell $22.xx

Gold AGE buy $1513. Sell $1613

Generic silver rounds buy $12.xx. Sell $18.xx

RCM 100 oz bars buy at $1261.00 sold out

$1000 face 90% bags buy $10,440. Sold out

mark

So it looks like the paper market and physical market are in sync and that the industry is ripe with price gougers.

I dont believe you can price gouge with metals. Its not a necessity. People selling baby formula and other REAL necessities at huge mark ups are price gougers. Selling gasoline in a crisis for huge markups is price gouging. Metals are commodities with little no to use in the life of average people.

Just my opinion.

cohodk · March 22, 2020 5:51AM

Price gouging doesnt only occur for "necessities". It happens with all goods and services at various times.

I believe it is the responsibility of market makers, i.e dealers, to provide and maintain an orderly market. Having a spread of 30-50%, or more, between buy and sell price is not orderly.

bronco2078 · March 22, 2020 6:04AM

@cohodk said:
Price gouging doesnt only occur for "necessities". It happens with all goods and services at various times.

I believe it is the responsibility of market makers, i.e dealers, to provide and maintain an orderly market. Having a spread of 30-50%, or more, between buy and sell price is not orderly.

the market is at condition paladium right now!!

pray we don't go full rhodium

TwoSides2aCoin · March 22, 2020 6:23AM

Sold almost all of it at 12.5 times face. The huge drop cleaned me out. Actually the $19.50 range is when I dumped most of mine. (Selling back of spot to other dealers). Fast forward a couple months and voila: Despair only brings more to the market . This is 1929 all over again. Re-set. But alas, I agree with cohodk...FMV will forever be fmv

Mike59 · March 22, 2020 6:35AM

Listing on eBay 2 tubes of ASE for $1785 . Not sure if 2004 ASE low mintage but $44 each seems excessive.

https://www.ebay.com/itm/FORTY-2004-AMERICAN-SILVER-EAGLE-ASE-BU-2-MINT-ROLLS-UNTOUCHED-from-Monster-Box/362715973156?hash=item54738e8624:g:AX8AAOSwnlFagNZZ

derryb · March 22, 2020 7:31AM

Take current physical demand/prices, wait two months, then triple it. We just started the first quarter of this superbowl.

derryb · March 22, 2020 9:21AM

premiums for quality silver are still rising, where you can find them.

bronco2078 · March 22, 2020 10:14AM

@derryb said:
premiums for quality silver are still rising, where you can find them.

ok but stop trying to convince people that ASE's are quality silver.

the only quality silver is 90% junk

derryb · March 22, 2020 11:14AM

@bronco2078 said:

ok but stop trying to convince people that ASE's are quality silver.

the only quality silver is 90% junk

is 90% silver bringing a 100% premium? ASEs are.

bronco2078 · March 22, 2020 11:54AM

@derryb said:

@bronco2078 said:

ok but stop trying to convince people that ASE's are quality silver.

the only quality silver is 90% junk

is 90% silver bringing a 100% premium? ASEs are.

only idiots are paying that

derryb · March 22, 2020 11:59AM

maybe the idiots are the ones selling at these prices. LOL

Wingsrule · March 22, 2020 12:16PM

An eBay check shows dozens of ASE rolls selling for $450-ish or $22-23 each over the past 2-3 days.

cohodk · March 22, 2020 3:05PM

@Wingsrule said:
An eBay check shows dozens of ASE rolls selling for $450-ish or $22-23 each over the past 2-3 days.

So how many dozen? 100 dozen? That would be about $500,000. Seems like a pretty cheap way to "con"vince folk that thats the real price.

Wingsrule · March 22, 2020 3:25PM

@cohodk said:

@Wingsrule said:
An eBay check shows dozens of ASE rolls selling for $450-ish or $22-23 each over the past 2-3 days.

So how many dozen? 100 dozen? That would be about $500,000. Seems like a pretty cheap way to "con"vince folk that thats the real price.

I’m just stating facts, which are very easy to check if anyone questions it.

It’s the current price. Whether or not it’s the real price, I’ll let you and derryb duke it out!

What is 90% actually selling for now? Other silver also

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