Is 90% silver readily available near you?
Manorcourtman
Posts: 8,247 ✭✭✭✭✭
I’m curious if other parts of the country are seeing a shortage of 90% at their local brick and mortar shops and at shows? My local BM guy can’t keep it stock here in Ohio. No one is coming in to sell any and the buyers are numerous when it’s available. What are you seeing around the country?
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Plenty available here. The BIGS online are even offering to sell below spot for $100 FV bags. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
My local dealer (Seattle WA area) has quite a lot. He's been buying quite a bit over the counter, and often has to re-sell to the smelters once it builds up. I hate to see that as I don't want 90% melted down.
Dave
Vermilion Enterprise in Florida. YouTube
I don't think there is nearly as much as just a few years ago. Dealers used to keep enormous amounts in some cases especially when they thought prices were likely to increase. But now they ship it off and more importantly they often tend to keep buy prices so low that their customers are more likely to ship it off.
Remember even if they keep the same value of metal a dollar's worth at $14 is a great deal more than at $46.
No. The moment US investors quit selling silver will got through the roof because itis US investors working through their local coin shops that has supplied the shortfall between consumption and production for years now. There are no other net sellers other than mines.
Jewelry stores are the same thing; they're keeping low inventories of US coin and bullion as well.
Get it online. There's always at least one big deales selling at spot or below.
https://sdbullion.com/kennedy-silver-half-dollars-10-dollar-face-value
I am not sure about the current supply in my area. I have ben buying 90% for years. But at the current prices, I am not even looking to buy 90% or any other silver at this time.
Several months ago, 90% silver was very plentiful. A dealer that I talked with recently said that he had plenty of silver (which might mean that nobody's buying it), but he also said that people are selling alot of gold now.
I knew it would happen.
Tons of it around here, so much so you cant give it away.
just go to show how different parts of the country are so different and what is selling and what isnt
Human perception is based on what the individual sees and varies far more by individual than geography. A dealer sees silver coming in and none going out then he has too much he has to ship it off to a refinery that pays less than melt because they are backed up and it seems the world is awash in 90%. But what he can't see is the vast quantities of silver that are being melted and the overall dishoarding of his customers and sellers.
In a world that continually has less 90% he sees more than ever. This can't last and then he'll suddenly have the perception that 90% is scarce and refineries are paying a premium again.
Think your dealer isnt buying it because he is short of cash and cant lay out because honestly there is too much coming out of the woodwork....if he needs more and if he is a real dealer he would have no trouble bringing it into his shop
It's the typical situation, lots of people thinking that it's a big boom cycle when frankly for honest dealers the profits and the business are more like community service than a real business. I even got a call looking for a job. People think their junk silver and Morgan dollars are now worth a lot more.
Recent sales on eBay for small lots of 90% silver coin are selling for about 32 to 36 times face (about $34 on average)