Ha !
You are almost the last person on this forum to ever foresee $100+ silver.
.
Too bad there is nobody out there willing to buy your physical gutter at $100 with "spot" at $116. Only way you are getting spot now is selling paper silver. Be patient, looks like 1980 be calling. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
@jmski52 said:
coho would have you panic and sell for 50% of spot.
If there is a freeze-up in liquidity, you need some cash but the last thing to do is to liquidate your metals at half price. The rebound would be ferocious.
Why do you add emotion to everything.."panic"? Lol. Are you projecting?
I believe it was stated that buyers could dissappear. Many laughed at the thought.
Ha !
You are almost the last person on this forum to ever foresee $100+ silver.
.
Too bad there is nobody out there willing to buy your physical gutter at $100 with "spot" at $116. Only way you are getting spot now is selling paper silver. Be patient, looks like 1980 be calling. RGDS!
No paper holder is getting spot either. We all agree its easier to trade and dump for short term profit but its a loser long term.
Ha !
You are almost the last person on this forum to ever foresee $100+ silver.
.
Please explain when I said silver would never hit $100. Ill be waiting.
.
For years, all you have ever done is push the standard financial advisor diatribe (because that is what you sell).
People on this forum have done better by NOT listening to your advice than they would have by following it.
.
And there is also this (from 2012):
.
@RedneckHB said:
$100 for silver is a stupid crazy price, but I have seen stupid crazy prices for many assets. All of which subsequently crashed.
Scotsman is buying/selling 90% only during the hours when it can be hedged. Currently for 100 oz. quantities their buy price is $69.36 vs. a sell price of $75.83 for face. Around a 9% spread. Not too bad for a volatile market.
Q: Are You Printing Money? Bernanke: Not Literally
Spoke to my dealer friend located in a small PA town. He's buying over $100K silver every day. He had to go so I did not get his buy but did mention he can sell for under spot.
@jmski52 said:
Scotsman is buying/selling 90% only during the hours when it can be hedged. Currently for 100 oz. quantities their buy price is $69.36 vs. a sell price of $75.83 for face. Around a 9% spread. Not too bad for a volatile market.
So far, this market is only volatile in one direction, up. Although I don't like their offer, I think Scotsman is legit; but, the offers from these other predatory-under-capitalized-clowns are offensive.
Powell speaks and metals continue to rise, unabated.
My dealer, last we spoke, cites 2 weeks out for payment as you say goodbye to your PM's forever. Then wait....
Spoke to my dealer friend located in a small PA town. He's buying over $100K silver every day. He had to go so I did not get his buy but did mention he can sell for under spot.
Is he selling anything significant to the public or straight to the refiner?
I think the usual estimate is 715 ounces silver for $1,000 face bag to account for slight wear. Many actually have less if very circulated. When minted closer to 723 ounces of silver. That ask price is very close to spot. Their buy bid price is $11.6 under spot. I was offered $9 under spot for silver eagles at bullion exchanges.
BST references: jdimmick;Gerard;wondercoin;claychaser;agentjim007;CCC2010;guitarwes;TAMU15;Zubie;mariner67;segoja;Smittys;kaz;CARDSANDCOINS;FadeToBlack; jrt103;tizofthe;bronze6827;mkman;Scootersdad;AllCoinsRule;coindeuce;dmarks;piecesofme; and many more
Ha !
You are almost the last person on this forum to ever foresee $100+ silver.
.
Please explain when I said silver would never hit $100. Ill be waiting.
.
For years, all you have ever done is push the standard financial advisor diatribe (because that is what you sell).
People on this forum have done better by NOT listening to your advice than they would have by following it.
.
And there is also this (from 2012):
.
@RedneckHB said:
$100 for silver is a stupid crazy price, but I have seen stupid crazy prices for many assets. All of which subsequently crashed.
.
Yup. And thats why my sigline was "you were warned". Lol
I have disparaged the mental masterbations of the PM narrative pushers, no PMs. We've been waiting for all the conspiracy and manipulation and collapses and none of it have ever happened.
What has finally moved silver higher is that it became the worse performing asset class for 15 years....now its finally catching up. No conspiracies. Just a thin, illiquid asset that finally got its day in the sun.
Yay....we're all rich now...right. If only we could find buyers at spot prices. Lol
@jmski52 said:
Scotsman is buying/selling 90% only during the hours when it can be hedged. Currently for 100 oz. quantities their buy price is $69.36 vs. a sell price of $75.83 for face. Around a 9% spread. Not too bad for a volatile market.
9% spread ON TOP of a 10% discount. And thats not bad? We dont live in the same reality.
Spoke to my dealer friend located in a small PA town. He's buying over $100K silver every day. He had to go so I did not get his buy but did mention he can sell for under spot.
Is he selling anything significant to the public or straight to the refiner?
He is selling a lot too but bringing in more. I know he sells to wholesalers daily. He cannot afford the risk of holding too much. Hope to catch up with him later this afternoon and will share when I get more info.
@jmski52 said:
Scotsman is buying/selling 90% only during the hours when it can be hedged. Currently for 100 oz. quantities their buy price is $69.36 vs. a sell price of $75.83 for face. Around a 9% spread. Not too bad for a volatile market.
9% spread ON TOP of a 10% discount. And thats not bad? We dont live in the same reality.
I think it's a 10% discount on both buy and sell vs spot so its not like if you sell you're losing 19%.
@jmski52 said:
Scotsman is buying/selling 90% only during the hours when it can be hedged. Currently for 100 oz. quantities their buy price is $69.36 vs. a sell price of $75.83 for face. Around a 9% spread. Not too bad for a volatile market.
9% spread ON TOP of a 10% discount. And thats not bad? We dont live in the same reality.
I think it's a 10% discount on both buy and sell vs spot so its not like if you sell you're losing 19%.
I took it as spot at $115 x .715 is about 82x. They are buying at 69x. Thats 18-20% below spot. Am I figuring this out wrong?
9% spread ON TOP of a 10% discount. And thats not bad? We dont live in the same reality.
You purposely try to make the market look bad. The buy/sell spread is exactly that, and it takes into account any discounts on both the buy and the sell offers. Sheeesh.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Scotsman is buying/selling 90% only during the hours when it can be hedged. Currently for 100 oz. quantities their buy price is $69.36 vs. a sell price of $75.83 for face. Around a 9% spread. Not too bad for a volatile market.
9% spread ON TOP of a 10% discount. And thats not bad? We dont live in the same reality.
I think it's a 10% discount on both buy and sell vs spot so its not like if you sell you're losing 19%.
I took it as spot at $115 x .715 is about 82x. They are buying at 69x. Thats 18-20% below spot. Am I figuring this out wrong?
Not sure what spot was being quoted since it has moved over 15% in days. But @jmski52 had it correct above.
When silver was at say $40 you could probably get say $37 for it. That's 7.5% under spot. That's not far off today at the 120 height where the best options are in select shops buying at 10 to 12 bucks below.
Moved some more ASEs today. Received $108/ozt for fresh rolls. Spot -$5 at time of sale.
There was a guy in there selling 25 oz of gold, mix of Krugs and Maples. He was quoted spot -$50/ozt. First time I have seen anyone selling gold in shop in quite some time. Another guy in there buying a pile of common date slabbed Morgans. He probably had 50 or so in his buy pile.
Owner said way more sellers than buyers but still had people coming in to buy. Mentioned they were almost all new to the market, never bought metals before. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
$69 BUY / $82 SPOT = 84% of SPOT or 16% Discount from SPOT.
My exact post was this:
Scotsman is buying/selling 90% only during the hours when it can be hedged. Currently for 100 oz. quantities their buy price is $69.36 vs. a sell price of $75.83 for face. Around a 9% spread. Not too bad for a volatile market.
I said nothing about spot at $82 or $115, nor did I say anything about multiplying by .715
Calculating discounts or spreads isn't hard.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said: 9% buy/sell spread and 16% discount to spot are both right. Just depends on the point you are trying to make (or disprove).
I said nothing about the discount. But if I had, I'd have noted that a discount applied to both the buy price and the sell price.
Which comes out to about the same spread.
I'm in the process of reducing my exposure to the PMs. I'm uncomfortable selling constitutional with a 16% discount and then another 9% when I can sell recently purchased SLV ETFs that currently have a 4 cent spread between the bid and the ask.
When PM prices stabilize I believe those coin shop discounts will narrow.
I'm in the process of reducing my exposure to the PMs. I'm uncomfortable selling constitutional with a 16% discount and then another 9% when I can sell recently purchased SLV ETFs that currently have a 4 cent spread between the bid and the ask.
I can't use 90% silver now as my example because Scotsman isn't publishing it, so I am using VG+ Morgan Dollars as my example instead.
Spot = $109.67 Buy = $73.48 Sell = $86.09
The buy/sell spread is $86.09/$73.48 = 17.2% spread
Their buy price is $73.48, which converted to $/oz. is $73.48/0.715 = $102.28/oz.
The discount is $109.67- $102.28 = $7.39, or a 6.7% discount from spot,
(I don't have the buy price from Scotsman for 90% right now, but the discount & spread are usually similar to Morgan VF+.)
When figuring the feasibility of selling , the buy/sell spread doesn't matter as much as the discount from spot because the actual price is based on the discount from spot, and not on the buy/sell spread.
The buy/sell spread is important when you buy, because that's how much you are giving up on the initial transaction, similar to the immediate monetary loss in trade-in value when driving a new car off the lot. The spread is also an indicator of how volatile the market is, and it might also reflect the dealer's own financial or cash flow situation.
Q: Are You Printing Money? Bernanke: Not Literally
stopped by local coin shop yesterday, paying 20 dollars back on .999. sold three one ounce rounds for 95/each. He said the refiners aren't taking his 90%, but He still buys at 50X Face and sells for 82X Face. As for gold, He pays 8% back of spot.
BST references: jdimmick;Gerard;wondercoin;claychaser;agentjim007;CCC2010;guitarwes;TAMU15;Zubie;mariner67;segoja;Smittys;kaz;CARDSANDCOINS;FadeToBlack; jrt103;tizofthe;bronze6827;mkman;Scootersdad;AllCoinsRule;coindeuce;dmarks;piecesofme; and many more
@scotty1419 said:
I think there are going to be a lot of LCSs absolutely panicked at their inventory costs this morning...
Man, those fresh tubes of ASE's I sold off yesterday I sure wish I would have taken in more now. LOL. Woulda, coulda, shoulda. As for the dealer I think he was already locked in with his wholesaler. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
@scotty1419 said:
I think there are going to be a lot of LCSs absolutely panicked at their inventory costs this morning...
Man, those fresh tubes of ASE's I sold off yesterday I sure wish I would have taken in more now. LOL. Woulda, coulda, shoulda. As for the dealer I think he was already locked in with his wholesaler. RGDS!
Just a little froth being bled from the market.
Warsh is a non-event because his appointment has been known for months and he's a dove in hawk's clothing.
In any case the new world will be made of silver no matter who heads the FED.
@jmski52 said: 9% spread ON TOP of a 10% discount. And thats not bad? We dont live in the same reality.
You purposely try to make the market look bad. The buy/sell spread is exactly that, and it takes into account any discounts on both the buy and the sell offers. Sheeesh.
Lol. Im making it look like reality.
You are clueless. Yes, personal attack. You are saying spot doesnt matter, yet when you were buying spot did matter. What kind of hypocrisy is that?
Imagine when you first bought your dealer said, "I will charge you spot + 5%. And when you come back to me to sell i will give you spot -20%. Any rational person who ask, "what kind of racket are you running here?"
But, im trying to make it look bad. Blzzaro World indeed.
Comments
Too bad there is nobody out there willing to buy your physical gutter at $100 with "spot" at $116. Only way you are getting spot now is selling paper silver. Be patient, looks like 1980 be calling. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Please explain when I said silver would never hit $100. Ill be waiting.
Knowledge is the enemy of fear
Why do you add emotion to everything.."panic"? Lol. Are you projecting?
I believe it was stated that buyers could dissappear. Many laughed at the thought.
Now that is funny!!
Knowledge is the enemy of fear
No paper holder is getting spot either. We all agree its easier to trade and dump for short term profit but its a loser long term.
But there’s not a 8-10% spread on paper like there is with physical vs spot today.
Arguing over getting $100 per oz for Silver. Precious!
Loves me some shiny!
“Often wrong, but never in doubt.”
.
For years, all you have ever done is push the standard financial advisor diatribe (because that is what you sell).
People on this forum have done better by NOT listening to your advice than they would have by following it.
.
And there is also this (from 2012):
.
.
Yes, 14 years ago, $100 was a crazy stupid price for silver.
Are any dealers making a 2-way market for 90%? It would be informative to see what the buy/sell spread is.
Scotsman is buying/selling 90% only during the hours when it can be hedged. Currently for 100 oz. quantities their buy price is $69.36 vs. a sell price of $75.83 for face. Around a 9% spread. Not too bad for a volatile market.
I knew it would happen.
Spoke to my dealer friend located in a small PA town. He's buying over $100K silver every day. He had to go so I did not get his buy but did mention he can sell for under spot.
So far, this market is only volatile in one direction, up. Although I don't like their offer, I think Scotsman is legit; but, the offers from these other predatory-under-capitalized-clowns are offensive.
Powell speaks and metals continue to rise, unabated.
My dealer, last we spoke, cites 2 weeks out for payment as you say goodbye to your PM's forever. Then wait....
@psuman08 said:
Is he selling anything significant to the public or straight to the refiner?
Before he buys, he has a commitment from the wholesaler who sends to the refiner, off to melt! Neither of them are gamblers.
Vermillion Enterprises in Florida TODAY ONLY 90% Junk Flash Sale
SPOT -$12 x .715 to get your $1 Face price. They are slinging it.
COPPER is gutter !
MONEX with Spot @ $118.42. They also deal in half bags.
I think the usual estimate is 715 ounces silver for $1,000 face bag to account for slight wear. Many actually have less if very circulated. When minted closer to 723 ounces of silver. That ask price is very close to spot. Their buy bid price is $11.6 under spot. I was offered $9 under spot for silver eagles at bullion exchanges.
My US Mint Commemorative Medal Set
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jrt103;tizofthe;bronze6827;mkman;Scootersdad;AllCoinsRule;coindeuce;dmarks;piecesofme; and many more
Yup. And thats why my sigline was "you were warned". Lol
I have disparaged the mental masterbations of the PM narrative pushers, no PMs. We've been waiting for all the conspiracy and manipulation and collapses and none of it have ever happened.
What has finally moved silver higher is that it became the worse performing asset class for 15 years....now its finally catching up. No conspiracies. Just a thin, illiquid asset that finally got its day in the sun.
Yay....we're all rich now...right. If only we could find buyers at spot prices. Lol
Knowledge is the enemy of fear
9% spread ON TOP of a 10% discount. And thats not bad? We dont live in the same reality.
Knowledge is the enemy of fear
He is selling a lot too but bringing in more. I know he sells to wholesalers daily. He cannot afford the risk of holding too much. Hope to catch up with him later this afternoon and will share when I get more info.
I think it's a 10% discount on both buy and sell vs spot so its not like if you sell you're losing 19%.
I took it as spot at $115 x .715 is about 82x. They are buying at 69x. Thats 18-20% below spot. Am I figuring this out wrong?
Knowledge is the enemy of fear
9% spread ON TOP of a 10% discount. And thats not bad? We dont live in the same reality.
You purposely try to make the market look bad. The buy/sell spread is exactly that, and it takes into account any discounts on both the buy and the sell offers. Sheeesh.
I knew it would happen.
Not sure what spot was being quoted since it has moved over 15% in days. But @jmski52 had it correct above.
Heading to my local coin shop with 4 rolls of silver quarters. What should I expect to try and get out of each roll? Thanks for any help....
I used to be famous now I just collect coins.
Link to My Registry Set.
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Varieties Are The Spice Of LIFE and Thanks to Those who teach us what to search For.
When silver was at say $40 you could probably get say $37 for it. That's 7.5% under spot. That's not far off today at the 120 height where the best options are in select shops buying at 10 to 12 bucks below.
COPPER is gutter !
Moved some more ASEs today. Received $108/ozt for fresh rolls. Spot -$5 at time of sale.
There was a guy in there selling 25 oz of gold, mix of Krugs and Maples. He was quoted spot -$50/ozt. First time I have seen anyone selling gold in shop in quite some time. Another guy in there buying a pile of common date slabbed Morgans. He probably had 50 or so in his buy pile.
Owner said way more sellers than buyers but still had people coming in to buy. Mentioned they were almost all new to the market, never bought metals before. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
BTW, a significant number of buyers never step inside a brick and mortar anymore. That's truth.
COPPER is gutter !
They're busy buying anything from their phone on whatnot for premiums.
And steals too ... be fair. Whatnot is just one spoke in that wheel.
COPPER is gutter !
I absolutely loaded up in a pawn shop in the deep south over Christmas. I should have gone twice as hard...
Hell yeah. CONGRATS
COPPER is gutter !
$69 BUY / $82 SPOT = 84% of SPOT or 16% Discount from SPOT.
$69 BUY / $82 SPOT = 84% of SPOT or 16% Discount from SPOT.
My exact post was this:
Scotsman is buying/selling 90% only during the hours when it can be hedged. Currently for 100 oz. quantities their buy price is $69.36 vs. a sell price of $75.83 for face. Around a 9% spread. Not too bad for a volatile market.
I said nothing about spot at $82 or $115, nor did I say anything about multiplying by .715
Calculating discounts or spreads isn't hard.
I knew it would happen.
@jmski52
I agree, 9%
boston
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Bad transactions with : nobody to date
9% buy/sell spread and 16% discount to spot are both right. Just depends on the point you are trying to make (or disprove).
my point is that i'm looking to point the price to where it will prove my point
9% buy/sell spread and 16% discount to spot are both right. Just depends on the point you are trying to make (or disprove).
I said nothing about the discount. But if I had, I'd have noted that a discount applied to both the buy price and the sell price.
Which comes out to about the same spread.
I knew it would happen.
I'm in the process of reducing my exposure to the PMs. I'm uncomfortable selling constitutional with a 16% discount and then another 9% when I can sell recently purchased SLV ETFs that currently have a 4 cent spread between the bid and the ask.
When PM prices stabilize I believe those coin shop discounts will narrow.
coin shop discounts are more affected by the relentless selling to them by the masses
I'm in the process of reducing my exposure to the PMs. I'm uncomfortable selling constitutional with a 16% discount and then another 9% when I can sell recently purchased SLV ETFs that currently have a 4 cent spread between the bid and the ask.
I can't use 90% silver now as my example because Scotsman isn't publishing it, so I am using VG+ Morgan Dollars as my example instead.
Spot = $109.67 Buy = $73.48 Sell = $86.09
The buy/sell spread is $86.09/$73.48 = 17.2% spread
Their buy price is $73.48, which converted to $/oz. is $73.48/0.715 = $102.28/oz.
The discount is $109.67- $102.28 = $7.39, or a 6.7% discount from spot,
(I don't have the buy price from Scotsman for 90% right now, but the discount & spread are usually similar to Morgan VF+.)
When figuring the feasibility of selling , the buy/sell spread doesn't matter as much as the discount from spot because the actual price is based on the discount from spot, and not on the buy/sell spread.
The buy/sell spread is important when you buy, because that's how much you are giving up on the initial transaction, similar to the immediate monetary loss in trade-in value when driving a new car off the lot. The spread is also an indicator of how volatile the market is, and it might also reflect the dealer's own financial or cash flow situation.
I knew it would happen.
I think there are going to be a lot of LCSs absolutely panicked at their inventory costs this morning...
“See, that’s why my spreads are so high”
stopped by local coin shop yesterday, paying 20 dollars back on .999. sold three one ounce rounds for 95/each. He said the refiners aren't taking his 90%, but He still buys at 50X Face and sells for 82X Face. As for gold, He pays 8% back of spot.
jdimmick;Gerard;wondercoin;claychaser;agentjim007;CCC2010;guitarwes;TAMU15;Zubie;mariner67;segoja;Smittys;kaz;CARDSANDCOINS;FadeToBlack;
jrt103;tizofthe;bronze6827;mkman;Scootersdad;AllCoinsRule;coindeuce;dmarks;piecesofme; and many more
Man, those fresh tubes of ASE's I sold off yesterday I sure wish I would have taken in more now. LOL. Woulda, coulda, shoulda. As for the dealer I think he was already locked in with his wholesaler. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Yeah, current price of 104 takes us all the way back to….last Friday’s close.
Just a little froth being bled from the market.
Warsh is a non-event because his appointment has been known for months and he's a dove in hawk's clothing.
In any case the new world will be made of silver no matter who heads the FED.
Lol. Im making it look like reality.
You are clueless. Yes, personal attack. You are saying spot doesnt matter, yet when you were buying spot did matter. What kind of hypocrisy is that?
Imagine when you first bought your dealer said, "I will charge you spot + 5%. And when you come back to me to sell i will give you spot -20%. Any rational person who ask, "what kind of racket are you running here?"
But, im trying to make it look bad. Blzzaro World indeed.
Knowledge is the enemy of fear