Buying/Selling Trends For 90% Silver
smeyer23
Posts: 68 ✭✭
I know many of you are buyers and sellers of 90% silver coins. You certainly buy and sell based on silver price trends. Do you strickly buy at so much times face value of silver and is that based on what? On the other hand, do some of you pay a percent of the melt value? When silver trends are more stable on a daily or weekly basis do you do things in a different manner than when trends change upwards to a dollar a day or week? I have bought and sold a few large lots over the past couple of years and have made a profit, but wonder if my next deal might not go so well. What would be a resonable buy/sell value be for the next week in your opinion? Any and all responses would be appreciated.
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any soothsayers around?...
nucleo exchange /trade silver currently shows bid and ask
US90% Silver Coins $10 Face (pre1965) (7.150 oz.) $232.00 $240.99
$100 US90% Silver Coins $100 Face (pre1965) (71.500 oz.) $2,251.00 $2,390.00
US90% Silver Coins $100 Halves (pre1965) (71.500 oz.) $2,350.00 $2,400.00
$1000 US90% Silver Coins $1,000 Face (pre1965) (715.000 oz.) $22,800.00 $23,900.00
If you are trying to buy and sell within the next 1-1.5 weeks I would say that it will be kind of difficult to be able to swing much of a profit over that time period if you are a regular joe like myself. The reason I say this is that it will be pretty challenging to be able to sell (and I mean retail level like eBay or flea market etc.) much higher than melt value, which right now is about 24-25 times face. You won't be able to get much more than that here on the BST (savvy fellas). eBay you will probably be able to get more than melt, but the premium will be eaten up in fees.
Now, if you were a dealer, you could swing this all day long. Because dealers (or other buyers be it making a market at a trove front, posting buy ads in penny saver or Craigslist) will have ready access to 90% below melt. Most B&M shops around here will have a spread of anywhere from 2-8 times face. (which means they will buy at anywhere from 17-21 and sell about melt, 24-25)
So I guess to answer your question: if I were in your shoes, I wouldn't try to pull this off with 90% silver. If you wanted to flip something that quickly, I would start poking around your B&M shops/flea markets for some undervalued billion that sells at a premium and as long as you find the right pieces, you should be able to flip it within your 1 week timeframe and make a profit.
Now, the caveat with this strategy, and frankly trying to do this in a "vest pocket" dealer fashion; it is very hit and miss and hardtop reproduce the big wins. I have found that I may find 7-12 dollars every now and then of 90% priced right that I can flip, or some rare JM type bars that I can flip easily for a profit, but I won't. E doing it in a sustained manner.
So, if you are trying to just make a few bucks, this will work for you. However, if you want to try and turn this into a steady income stream you will need to set yourself in such a manner that you have consistent access to material priced so you can make a profit.
Now as for your other questions. 90% virtually ways trades at a multiple of face. I.e 24 times face. Use this site (owned by our hosts) www.coinflation.com, and it very easily gives you the dollar value of the 90% silver coinage. I always just look at the dime, which will say 2.4789 silver value, and you see this and say, ok, 90% silver value is 24.79 times face right now. I always take a peek before a show or trip to BM so I know what melt is.
Good luck, and keep stacking. This is just my 2 cents.