So with silver recently trending upward...
piecesofme
Posts: 6,669 ✭✭✭
should I buy some 90% and at what price this weekend? I'm going to a fairly large show locally Sunday and was wondering what the concencus here is as to what would be a fair offer to a dealer for say, at least $100 fv.
Being that it's Summer and supposed to be really nice that day, i'm thinking that it might be a slow show with not many customers. Might be a good time to flash some cash and try in get in on a deal. What do you think? tia
Being that it's Summer and supposed to be really nice that day, i'm thinking that it might be a slow show with not many customers. Might be a good time to flash some cash and try in get in on a deal. What do you think? tia
To forgive is to free a prisoner, and to discover that prisoner was you.
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Perhaps wait until next week when it falls below $35/oz again.
If you are looking at getting 100 fv, I would try and be about 5-10 percent back of melt. I think this would be the most feasible possible price.
If your heart isn't set on 90 percent, I would try and get some nicer silver bars rounds for melt. Have fun!
I knew it would happen.
edited to add on 7/10: looking more to the positive now.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
roadrunner
<< <i>No advice for me on my coin show journey tomorrow besides FullCameo? That's so unlike this forum to be so hesitant to give an opinion.
Didn't you just sell a huge batch of 90% at below melt value, two weeks ago when silver was a bit lower (see quote below June 27th)?
And now you are asking for advice about whether to buy it back at higher prices, at a retail venue?
Folks that know what they are doing don't need continuous public reassurance. You might reconsider what you are doing if you still need advice, when you have more expertise and experience (especially in your local market) than most contributors. If anything with your experience, you might be the one giving advice.
<< <i>op wrote:
<< Sold it all except for the Halves for $23.40 to a local buyer>> >>
link to thread
* today's melt value for 90% with silver at $36.70 is about $26.50
In my opinion, it will be higher on October 1st than it is right now. But October 1st is eons away.
I knew it would happen.
Yogi Berra
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Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
<< <i>Could silver one day be worth more than gold? >>
In the 5000 years that humans have been enamored with these metals, I dont believe silver has been valued higher than gold. I see no reason why human perception should change. Gold is warm like the sun, silver is cold like snow. You want the beach, or the mountains?
Knowledge is the enemy of fear
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
rr, did someone hijack your account? What? No chart speak, just a simple who knows?
>>Didn't you just sell a huge batch of 90% at below melt value, two weeks ago when silver was a bit lower (see quote below June 27th)?
And now you are asking for advice about whether to buy it back at higher prices, at a retail venue?
Folks that know what they are doing don't need continuous public reassurance. You might reconsider what you are doing if you still need advice, when you have more expertise and experience (especially in your local market) than most contributors. If anything with your experience, you might be the one giving advice.<<
Well it does give me reassurance that my dealings are followed so closely by someone who has never bought from me. Thanks for making me feel like a part of the community. Trust me, I know where the market is at to the freakin .01. I was just asking what others are doing. When did that become a burden to ask?
Thanks for making me feel like i'm on the U.S. coin forum
Didn't buy a darn thing, not one single thing. BOY! Where there a lot of speculators there. Everyone seems to think the silver is headed (way) back up. Not one dealer would sell 90% for Spot minus .50, even when buying in volume. I offered one guy that had about $400 face of nothing but dimes...dimes! and he wouldn't budge.
So I turned my attention to .999 Ag. No one would sell for less than Spot plus $2 for any type of .999 (generic or well known brand). I told them all that's what I'm trying to sell it at LOL. Leave me some room to work. No one again would budge.
I really think it's a sign of people being upside down in what they have left from "the run" and are just not willing to part with it for lower because they strongly feel that if they hold long enough it'll come back so they can at least break even. Either that or some are out of their damn minds thinking their prices are realistic lol to what is actually happening. What do I know, people can ask whatever they want. I just tell them there's a reason you're still trying to sell it and it's not sold.
Anyway, had a good time there and afterwards going to a Sox game...eventhough they got their arse kicked , again.
<< <i>So did you get some 90% today and what did you pay?
Didn't buy a darn thing, not one single thing. BOY! Where there a lot of speculators there. Everyone seems to think the silver is headed (way) back up. Not one dealer would sell 90% for Spot minus .50, even when buying in volume. I offered one guy that had about $400 face of nothing but dimes...dimes! and he wouldn't budge.
So I turned my attention to .999 Ag. No one would sell for less than Spot plus $2 for any type of .999 (generic or well known brand). I told them all that's what I'm trying to sell it at LOL. Leave me some room to work. No one again would budge.
I really think it's a sign of people being upside down in what they have left from "the run" and are just not willing to part with it for lower because they strongly feel that if they hold long enough it'll come back so they can at least break even. Either that or some are out of their damn minds thinking their prices are realistic lol to what is actually happening. What do I know, people can ask whatever they want. I just tell them there's a reason you're still trying to sell it and it's not sold.
Anyway, had a good time there and afterwards going to a Sox game...eventhough they got their arse kicked , again. >>
Rich, you dont sell 90% silver at spot - .50, do you? And do you sell .999 at less than $2.00 over spot?
So why do you expect other dealers to do so just so that you can flip it at a small profit?
And your point about there being a "reason" that they are still trying to sell it is ludicrous. If that was really the case, then there would be nothing for sale anywhere, would there?
<< <i>I think silver is due for a rally upwards right now....possibly weeks. But who knows. roadrunner
rr, did someone hijack your account? What? No chart speak, just a simple who knows?
>>Didn't you just sell a huge batch of 90% at below melt value, two weeks ago when silver was a bit lower (see quote below June 27th)?
And now you are asking for advice about whether to buy it back at higher prices, at a retail venue?
Folks that know what they are doing don't need continuous public reassurance. You might reconsider what you are doing if you still need advice, when you have more expertise and experience (especially in your local market) than most contributors. If anything with your experience, you might be the one giving advice.<<
Well it does give me reassurance that my dealings are followed so closely by someone who has never bought from me. Thanks for making me feel like a part of the community. Trust me, I know where the market is at to the freakin .01. I was just asking what others are doing. When did that become a burden to ask?
Thanks for making me feel like i'm on the U.S. coin forum
Hey dude, easy, I gave you a compliment, saying that you are the expert, you are the one to be giving advice. Like you said, you know the market down to the freakin .01, and yet you go ahead and ask "what should I offer?" Then complain when no one wants to respond to a question, that you the expert, already knows the answer to? Down to the freakin .01, in your words.
If you wanted to know what others were doing, that would likely be different wording and subject line. First you complain about the lack of responses, so I respond, and then you complain about a compliment and an insightful post about asking for advice. Jeez. You'll probably complain about this response too.
The readers can make up their own minds about what is going on.
Let me add one more piece of advice, worth more than all the silver at the flea market. Chronic complaining is a terrible and debilitating habit. It makes for a shorter, less happy life, fewer friends, more enemies, poorer health. The complaining habit is a plague that destroys many lives. It is simple yet difficult to shake. Getting rid of the complaining habit will be worth more than any amount of silver a person can purchase.
I saw a lot of dealers there selling a lot of bullion at retail prices.
Why should they wholesale it to you for less if they do not have to?
Really? Check my thread on the BST and you will see otherwise. A 100 oz. JM for "less than $2 over spot". Onzas for a little over $2, which they go for about $40-45 on eBay. The other bars are at a premium because they aren't you're typical silver. As for 90%, I ALWAYS sell for less than .50 under melt, just about every 90% I'ver ever done here!!! Can't believe you called me on the carpet for this. Your accusations are totally false.
Well, since it dropped $1.50 like a rock this morning, I'm glad you didn't use my permission to buy as a reason to load up.
I knew it would happen.