Premiums up on 90% coins too?
tneig
Posts: 1,505 ✭✭✭
Looking around and noticed buying offers for silver quarters/dimes a bit and it seems like even the buying premium is up. Used to see ads on craiqs for the X value to be way below melt value but now the other way around and paying a bit more. Really?
I used to offer full spot when there was something I wanted like cleaner 90% coins but I see I'm outbit on some ads (probably leader lies too).
I used to offer full spot when there was something I wanted like cleaner 90% coins but I see I'm outbit on some ads (probably leader lies too).
COA
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When spot is high premiums go down.
Got a quote from my local pawn shop of $12.50 per $1 face on 90%. Didn't buy but maybe I should next time as he said more discount for bulk.
I did get a loose 1/10 AGE MCMLXXXVI for $130, hopefully an incentive to a buyer on the other end someday. Sort of funny because the only way I can read it is take a phone photo and blow it up to see. lol
I've never seen 90% offered for melt or less then melt, unless they are culled coins. Please PM me when you see that again..(except for Craigs List offers...wouldn't touch those with a ten foot..)
After this it's tough to say. Silver and gold will seem to decouple even more than they have and silver price could suffer for some time.
They'll try to hold gold about $2100. Their means to keep it down are evaporating as they borrow ever more from the future. Even the future is running out of money to lend to us.
We simply have no other options than to improve efficirency but the powers that be will be eating out of garbage cans before they allow this.
OPA,
Got a quote from my local pawn shop of $12.50 per $1 face on 90%. Didn't buy but maybe I should next time as he said more discount for bulk.
I did get a loose 1/10 AGE MCMLXXXVI for $130, hopefully an incentive to a buyer on the other end someday. Sort of funny because the only way I can read it is take a phone photo and blow it up to see. lol
I've never seen 90% offered for melt or less then melt, unless they are culled coins. Please PM me when you see that again..(except for Craigs List offers...wouldn't touch those with a ten foot..)
at today's silver price...spot value for $1 .. 90% is $10.80. He's 10% above spot, but that's still a good price. Again, I've never seen 90% go for spot or below (except for culls)
As the price goes up this time the shortage will get worse instead of better. There will be no significant improvement in premiums until price is up five fold from here.
After this it's tough to say. Silver and gold will seem to decouple even more than they have and silver price could suffer for some time.
They'll try to hold gold about $2100. Their means to keep it down are evaporating as they borrow ever more from the future. Even the future is running out of money to lend to us.
We simply have no other options than to improve efficirency but the powers that be will be eating out of garbage cans before they allow this.
I assume you meant $1200?
OPA,
Got a quote from my local pawn shop of $12.50 per $1 face on 90%. Didn't buy but maybe I should next time as he said more discount for bulk.
I did get a loose 1/10 AGE MCMLXXXVI for $130, hopefully an incentive to a buyer on the other end someday. Sort of funny because the only way I can read it is take a phone photo and blow it up to see. lol
I've never seen 90% offered for melt or less then melt, unless they are culled coins. Please PM me when you see that again..(except for Craigs List offers...wouldn't touch those with a ten foot..)
at today's silver price...spot value for $1 .. 90% is $10.80. He's 10% above spot, but that's still a good price. Again, I've never seen 90% go for spot or below (except for culls)
Culls might sell for melt value, but decent 90% always has a premium, and from my experience that premium can (and usually does) fluctuate more than the premium does for .999.
OPA,
Got a quote from my local pawn shop of $12.50 per $1 face on 90%. Didn't buy but maybe I should next time as he said more discount for bulk.
I did get a loose 1/10 AGE MCMLXXXVI for $130, hopefully an incentive to a buyer on the other end someday. Sort of funny because the only way I can read it is take a phone photo and blow it up to see. lol
I've never seen 90% offered for melt or less then melt, unless they are culled coins. Please PM me when you see that again..(except for Craigs List offers...wouldn't touch those with a ten foot..)
at today's silver price...spot value for $1 .. 90% is $10.80. He's 10% above spot, but that's still a good price. Again, I've never seen 90% go for spot or below (except for culls)
Culls might sell for melt value, but decent 90% always has a premium, and from my experience that premium can (and usually does) fluctuate more than the premium does for .999.
Agree
HE>I
As the price goes up this time the shortage will get worse instead of better. There will be no significant improvement in premiums until price is up five fold from here.
After this it's tough to say. Silver and gold will seem to decouple even more than they have and silver price could suffer for some time.
They'll try to hold gold about $2100. Their means to keep it down are evaporating as they borrow ever more from the future. Even the future is running out of money to lend to us.
We simply have no other options than to improve efficirency but the powers that be will be eating out of garbage cans before they allow this.
I assume you meant $1200?
No.
$1200 was the benchmark since they let it go past $800.
I think they'll need to let it go higher to continue kicking the can down the road.
At some point it will overshoot.
these matters.... however, while I am sure gold will hit that level again, I would not expect it
for five years or more down the road... unless, of course, there is a major economic crash. Would that be the basis for your premise? Cheers, RickO
Hmmmm....$2100 gold? Interesting... Cladking, I know you are more knowledgeable than I in
these matters.... however, while I am sure gold will hit that level again, I would not expect it
for five years or more down the road... unless, of course, there is a major economic crash. Would that be the basis for your premise? Cheers, RickO
More like wishful thinking.
Hmmmm....$2100 gold? Interesting... Cladking, I know you are more knowledgeable than I in
these matters.... however, while I am sure gold will hit that level again, I would not expect it
for five years or more down the road... unless, of course, there is a major economic crash. Would that be the basis for your premise? Cheers, RickO
I don't know anything but I know you can't take more out of an economy (or anything) than you put in. Business, finance, and government have been extracting more from the economy than the aggregate amount being put in. They are replacing the wealth they are extracting with promissory notes and these notes are forever coming due. They exist in a vast array of manifestations but they are as real as the nearly empty economy and the only way for the forces to balance out means gold must go higher. How this occurs may be rather complex but a collapse is not necessary. All it will require is a change in peoples' perception of the value of the dollar and the likelyhood bonds will actually pay off. This change in perception is automatic and the FED is likely expecting it and are falling back to a more defensible line. This line will be around $2100 and should come sooner rather than later.
Unless Congress gets religion or sanity they won't hold $2100 either and within ten years will be trying to hold $3000. Of course by that time deficit spending and the destruction of wealth will have diminished the dollar significantly. Silver will bounce wildly around the gold price and will do exceedingly well during periods of improving economy and poorly as it backtracks. Gold will be none too steady itself.
Any significant inflation will reflect directly into these expectations and will actually serve to exascerbate them. In other words even "mild" inflation in five years of 20% will mean the FED will be trying to hold gold at $30,000 instead of 3,000.
There is lots of room in the ecxonomy to improve efficiency dramatically but it's most highly improbable that this would be done. There's no profit in it for the people who call the shots.
I've never seen 90% offered for melt or less then melt, unless they are culled coins. Please PM me when you see that again..(except for Craigs List offers...wouldn't touch those with a ten foot..)
Junk silver was available under melt for a good portion of 2011, when silver was $35 an ounce and higher.
My Adolph A. Weinman signature
I've never seen 90% offered for melt or less then melt, unless they are culled coins. Please PM me when you see that again..(except for Craigs List offers...wouldn't touch those with a ten foot..)
Junk silver was available under melt for a good portion of 2011, when silver was $35 an ounce and higher.
Exactly. As I said above, when spot is high, premiums go down. It's the law of supply and demand. High spot prices bring out product, increasing supply, while simultaneously decreasing demand.