I’ll be a dealer at a coin show tomorrow, what is 90% silver going for?
superpsychmd
Posts: 1,328 ✭✭✭
Any thoughts?
1
superpsychmd
Posts: 1,328 ✭✭✭
Comments
My best offer thru dealers was 35xface. Did much better on BST. Will be interesting to hear about your day tomorrow.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
$1.40 US 90% silver coin= 1 oz. .999 Ag so go from there. Extremely worn silver coins would be worth a little less. If buying make sure you have a reasonably accurate scale with you so that someone with a lot of really worn silver coin for sale doesn't pull a fast one on you. Also culls, meaning holed and bent coins, are worth less. Good luck.
The measure of intelligence is the ability to change.
Albert Einstein (14 March 1879--18 April 1955)
At the current price of silver I would not take less than 50x times. That’s a 10% discount to melt. I would expect $500 per roll of half dollars.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
ask on the precious metals forum
buy price are several dollars back of spot. depending upon what i take as greed and "no rush to sell" some are asking over spot, but many are selling what they can get rid of near spot to a dollar back or more
one caveat is that we just heard that retail is buying silver again (started in past week) after months of pounding out the sells.
you buying: where are you going to get rid of it. those refiners just recently re-started buying 90% after refusing all but .999 because they were overwhelmed with the 90% people were sending to them. one place doesn't take anything less than 80%.
you selling - you're in competition right you know this. it will depend upon how much cha-ching each hopeful there wants to get. apmex not there? aw. because they want spot or better. perhaps others there will want it too, maybe not. if you are determined to sell, then start to sell at a little under spot and walk down over the day if you're not emptying the cases.
https://forums.collectors.com/discussion/comment/14026004/#Comment_14026004
Knowing that there will be a lot of competition buying and selling and price comparisons, if you want to accumulate a lot, be slightly higher than the other guys. Ask them, they’ll tell you.
Likewise if selling your personal hoard, be a little lower. You’ll probably sell out.
Pricing at a coin show is pretty close to real market value. Ignore the outliers and you can buy or sell on the spot.
Got 37X face at my monthly local on the 14th
it's crackers to slip a rozzer the dropsy in snide
My LCS buys at 44X right now and sells for 52X.
this is the kind of thing I was talking about
Youll never get 50x at any showfrom a dealer even the biggest national firms are not paying that as of fri am
you would have to sell to public
He is going to be the dealer at the show as stated in his thread title.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
JM Bullion buy price at 2300 hrs right now @ 44.99 for $1 face
today is tomorrow
now we need to ask him how he did and if he went home empty
The problem with 90% silver and sterling is that the smelters are so backed up they are only taking the 100% stuff. They don't want to risk buying 90% or sterling stuff they have to finance and hold for 30-60 days in inventory.
Once smelters get caught up and dealers can off load the 90% and sterling they buy quickly then prices with tighten but the question for all is what will price be when smelters are caught up.................
On Sunday at the show, they were buying at 44-46x face and selling at 54.5x face. I sold my proof brown Ikes without the box at 20.5 each to a dealer and 22 to collectors. Someone there paid 75/ounce of .999 silver. Thanks all for your input
Thanks for the update @superpsychmd
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
That's quite a markup for bullion. It shows a lack of confidence in the price run-up. Do you believe the hype about a lack of supply or is there actually a lot more above ground silver out there waiting to be sent to the refiners?
I > @291fifth said:
I believe it was just silvers turn after investors missed golds run up, investors are looking for assets that haven't rebasedlined to the new dollar's lower value. All the mechanics people quote are effects of people scrambling due to their interests or positions but ask your self what isn't at an all time high.
11.5$ Southern Dollars, The little “Big Easy” set
Thinking about taking some of a friend's 90% silver to FUN to sell, seems like a good place to try.
10-4,
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My suggestion - if you are not trading silver or gold full time - just pass on commodity trading unless you like to gamble. I will let the pros do the commodity trading.....
Commodity trading not really a gamble if you have the experience. Silver was in parabolic move up..until Sunday.. Some bank couldn't' put up money to make their margin call for Silver futures ..On Monday Silver dropped $10 dip in sliver .. Gold nearly doubled in 2025 Bull markets run away
This. Dealers need room for the wild price swings, 35-40x is probably average. Go to the FUN show next week and get 90% under melt I would think.
I (and other dealers) had to reprice a lot of my show inventory daily at the last November Vegas show, as the metals were fluctuating wildly. Don't know what next week will bring, but folks might be spending hotel nights doing the same in Orlando. My inventory for that show will be largely numismatic in pricing, except maybe some of the more common Saints. So, that won't be my headache. But folks on both sides of the tables might be prepared for those labors if playing with bullion, common silver/gold coins, and junk silver.