FUN Show Silver Sales Report (and a bit on gold).

Proofmorgan

I came with a bag full of BU silver eagles, 90% junk, 90% unc,
And 90% mint commems (newer issues) in boxes or capsules.

Silver was at $75 on day one and I was looking to liquidate as with
the volatility, who knows what would happen.

The show was a frenzy. I’d say 60/40 buying/selling.

I sought out a few sources and was able to get the following:

-50x face for junk silver (UNC/toning had no premium). I was quoted 47-50x when asking about 5 buyers.

-silver eagles were spot plus $1 (silver eagles were king here). They were selling as fast as dealers could buy them. Premiums ranged from $2-$5.

-generic .999 spot -$1

-90% newer commems $50-$55….tough to move. By the 3rd day
Almost no one was buying these.

-I sold a vintage 25oz bar that wouid typically command a premium for spot.

Interesting observations:

-The spread of prices was something I’ve never seen.

-For thrills I was able to buy from one side of the room and sell
To the other for 25% more on certain items.

-100oz bars ranged from spot + 2 to spot -4.

• ALOT of vintage/rare bars were available. The premiums have come way down. Averaging at spot +4. Excluding super rare engelhard, etc.

-Silver buyers were tapped by the end of the show. I think the selling outweighed the buying.

GOLD:

Gold seemed to be slow moving. It was the silver show. That said,
I think some were moving from silver into gold.

Gold premiums seems consistent as opposed
To what was seen with silver.

Hope this helps!

jmski52

Great Report! Thank-you.

Bochiman

Very interesting bits.
Thank you for reporting what you saw. I appreciate it.

jt88

Nice report. thanks.

pcgscacgold

Thanks for the report. Very interesting to hear what happened at the big show. The spike in spot prices showed up in the spike in attendance.

skier07

I brought a bag of 51 90% halves with me that was laying around in my sock drawer for years and was able to sell for 48X Thursday when silver dropped $5 to $75. I wasn’t motivated to waste several hours of my time trying to squeeze a few more dollars on my first FUN trip after flying across the country. I also sold a 1987 US Constitution set (silver and gold coin) for $1050. The set is too bulky and takes up too much space and no longer fits in the SDB.

cinque1543

@Proofmorgan said:
Gold premiums seems consistent as opposed
To what was seen with silver.

Do you happen to know what the premium was on 1oz American Gold Eagles?

Proofmorgan

I only know in passing on the 1/10 and 1/4 oz, which were about 500/oz for proofs. I'm sure there were cheaper options but I remember seeing 1/10s for $500 and 1/4s for $1250 posted in cases