Checked in to a few local shops this morning to sell some 10K gold jewelry.
As I was waiting I overheard people being offered 42X face for 90%, think I heard $65/oz for .999. Was offered 38X face at the other shop, and $44 ea for random date Morgans. The shop with the better prices was buying .925 sterling, the other wasn't.
I understand their situation but frankly garbage prices on silver and I can easier sell for much closer to melt on Reddit groups. Happy to hold on to the rest of my physical stack anyway. Moved the 10K at something around 70% of melt which was pretty bad but it was really low quality stuff I wanted to be rid of and I don't have time to drive to the better places that are open during the week.
@West22 said:
Checked in to a few local shops this morning to sell some 10K gold jewelry.
As I was waiting I overheard people being offered 42X face for 90%, think I heard $65/oz for .999. Was offered 38X face at the other shop, and $44 ea for random date Morgans. The shop with the better prices was buying .925 sterling, the other wasn't.
I understand their situation but frankly garbage prices on silver and I can easier sell for much closer to melt on Reddit groups. Happy to hold on to the rest of my physical stack anyway. Moved the 10K at something around 70% of melt which was pretty bad but it was really low quality stuff I wanted to be rid of and I don't have time to drive to the better places that are open during the week.
@West22 said:
Checked in to a few local shops this morning to sell some 10K gold jewelry.
As I was waiting I overheard people being offered 42X face for 90%, think I heard $65/oz for .999. Was offered 38X face at the other shop, and $44 ea for random date Morgans. The shop with the better prices was buying .925 sterling, the other wasn't.
I understand their situation but frankly garbage prices on silver and I can easier sell for much closer to melt on Reddit groups. Happy to hold on to the rest of my physical stack anyway. Moved the 10K at something around 70% of melt which was pretty bad but it was really low quality stuff I wanted to be rid of and I don't have time to drive to the better places that are open during the week.
rip off shops
Many "shops" don't have the capitol to be dealers and are glorified collectors. The market going forward will put them to sleep.
I don't blame the shops who have to pay rent and heat and make ends meet. I live in a rural / lower density population area. It's all good. You can get great prices on Reddit once you have established yourself as a trustworthy seller. It's just a tough time to liquidate silver. Certainly makes me reconsider my investing thesis from two years ago when I was buying a lot of 90%. I managed to stack a lot of BU Kennedy halves, pre-21 Morgans and ASE that have held up better than junk silver in this market. Moved all my bulk 90% in the last month.
I sold all of my "collector gold" yesterday, including SP-70, MS-70, PR-70 and ungraded Burnished & Proofs. My spreadsheet is alot cleaner now. The gold went for mostly under spot, but a few still had a little pr4mium. I sold a set of graded 5 oz. ATBs for 97% of spot.
I'm going to be paying a boatload of cap gains in 2026, but now I also have significant working capital and plans to deploy it.
Q: Are You Printing Money? Bernanke: Not Literally
Stopped by my lcs on my lunch and was 8th in line. They were paying $-3 for ASE’s and $-4 to $-5 on everything else. They weren’t taking sterling jewelry. I didn’t ask about 90%.
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@bestmr said:
Stopped by my lcs on my lunch and was 8th in line. They were paying $-3 for ASE’s and $-4 to $-5 on everything else. They weren’t taking sterling jewelry. I didn’t ask about 90%.
My local haunt today was $5 back of spot on.999
Pristine ASE's, Maples paying spot because they don't have any in the cases.
@bestmr said:
Stopped by my lcs on my lunch and was 8th in line. They were paying $-3 for ASE’s and $-4 to $-5 on everything else. They weren’t taking sterling jewelry. I didn’t ask about 90%.
My local haunt today was $5 back of spot on.999
Pristine ASE's, Maples paying spot because they don't have any in the cases.
Paying more for Maples than ASE’’s simply because they don’t have them? I wouldn’t go back.
Hit a new shop just outside of Pittsburgh (Monroeville) this AM. Sold 640 ASE @ $90.50, spot was around $91 at the time. Also sold combination of 10 Navy, Army, USMC Privy eagles at $200 each. They were paying 55x on junk with melt at 65x and change.
Some guy was in there trying to sell a teapot (gutterplate) and a 1941 penny lol. Another guy trying to trade in 50% and 80% Canadian gutter for fractional gold. I didn't try to calculate what he was being offered in relation to spot but the disgusting look on his face told the story. I was in the shop for about 35 minutes total, the phone never stopped ringing. All sellers asking shop owners what they were paying for various gutter. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
@blitzdude said:
Hit a new shop just outside of Pittsburgh (Monroeville) this AM. Sold 640 ASE @ $90.50, spot was around $91 at the time. Also sold combination of 10 Navy, Army, USMC Privy eagles at $200 each. They were paying 55x on junk with melt at 65x and change.
Some guy was in there trying to sell a teapot (gutterplate) and a 1941 penny lol. Another guy trying to trade in 50% and 80% Canadian gutter for fractional gold. I didn't try to calculate what he was being offered in relation to spot but the disgusting look on his face told the story. I was in the shop for about 35 minutes total, the phone never stopped ringing. All sellers asking shop owners what they were paying for various gutter. RGDS!
Looks like you need to stop saying gutter. One could almost say RSDG (Retain Silver Dump Gold)
I spent the afternoon yesterday at a "local" coin chop about 30 miles from here.
Mostly I was looking for bargains in their collectible foreign coins (silver and base metal - no gold).
I was over in the corner doing my thing while all the activity was going on in the rest of the shop.
Many of the foreign silver coins were priced under melt, but I didn't hold them to the marked prices.
Some of the scarcer copper pieces were discounted to me and some of the cheaper silver coins were higher-than-marked.
It all about washed out in the end.
There was no line, but they were busy at times.
A woman came in with a wooden box full of sterling flatware. I don't know what the shop paid her, but they did buy it.
Another person sold the shop about 10 gold eagles.
One woman came in with the intent of buying some silver eagles. I didn't pay attention to what she actually left with.
Several other people came in to "look around" - they were curious about precious metals but not buying or selling yet.
With Silver over $90 I don’t think sellers of 90% should take less than 55x. The buyers who are offering close to 40x like some replies have one of two problems - - - either they don’t have a good outlet to sell or they are cash poor and afraid.
I think getting those low offers would cause someone to look elsewhere, not sell.
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin
Local small shop: buying 90% at 50x, but dont want it, dosnt sell, and when a customer comes in to buy its usually less than 100 total value, and i sell it to them at spot-5.00 best place I sell to wholesale currently is spot minus 6.25. So dont mind given the buyer a deal.
.999 turning down more than I can buy currently. No buyers, except for an oz or two, people wanting to sell thousands of oz daily.
My biggest problem here is everybody wants cash, with no record of the transaction , trying to sell hundreds of oz at a time for cash. I have gotten to the point, just cant do it any longer. I'm limiting cash outlay. I talked to dealer friend 50 miles away in larger town, he dosnt have that problem, everyone that wants to sell dont mind taking a check .
If the dealer is reputable and well established there’s nothing wrong with a check. When I sold recently I told the dealer I’d take a check and they said they had cash. They still checked ID and gave me my half of a 2 part receipt.
Too many people want to act like they’re in a Peter Lorre spy thriller, pure paranoia.
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin
@Maywood said:
If the dealer is reputable and well established there’s nothing wrong with a check. When I sold recently I told the dealer I’d take a check and they said they had cash. They still checked ID and gave me my half of a 2 part receipt.
Too many people want to act like they’re in a Peter Lorre spy thriller, pure paranoia.
Agreed, One could imagine No paper trail is better than a flashing light on radar.
Local shop near me was moving 1000 ounces, last nights speed dip was a bit dicey and the seller location this morning was Rocking and Rolling.
@jmski52 said:
I sold all of my "collector gold" yesterday, including SP-70, MS-70, PR-70 and ungraded Burnished & Proofs. My spreadsheet is alot cleaner now. The gold went for mostly under spot, but a few still had a little pr4mium. I sold a set of graded 5 oz. ATBs for 97% of spot.
I'm going to be paying a boatload of cap gains in 2026, but now I also have significant working capital and plans to deploy it.
Very nice. I'm pulling some profits that have stagnated a little so I can focus it on other areas.
If you wanna make a little side money, the silver jewelry market is pretty insane right now. Very often I feel like I'm making up numbers and asking too much. Then I worry if it will sell for a couple days maybe a week, and then it sells anyway.
Trying to hold onto weight at this point and just harvest premiums, regardless of what form they come in.
@blitzdude said:
Hit a new shop just outside of Pittsburgh (Monroeville) this AM. Sold 640 ASE @ $90.50, spot was around $91 at the time. Also sold combination of 10 Navy, Army, USMC Privy eagles at $200 each. They were paying 55x on junk with melt at 65x and change.
Some guy was in there trying to sell a teapot (gutterplate) and a 1941 penny lol. Another guy trying to trade in 50% and 80% Canadian gutter for fractional gold. I didn't try to calculate what he was being offered in relation to spot but the disgusting look on his face told the story. I was in the shop for about 35 minutes total, the phone never stopped ringing. All sellers asking shop owners what they were paying for various gutter. RGDS!
For someone who constantly dunks on silver, you sure seem to have a lot of it.
@blitzdude said:
Hit a new shop just outside of Pittsburgh (Monroeville) this AM. Sold 640 ASE @ $90.50, spot was around $91 at the time. Also sold combination of 10 Navy, Army, USMC Privy eagles at $200 each. They were paying 55x on junk with melt at 65x and change.
Some guy was in there trying to sell a teapot (gutterplate) and a 1941 penny lol. Another guy trying to trade in 50% and 80% Canadian gutter for fractional gold. I didn't try to calculate what he was being offered in relation to spot but the disgusting look on his face told the story. I was in the shop for about 35 minutes total, the phone never stopped ringing. All sellers asking shop owners what they were paying for various gutter. RGDS!
You never name the shops. Because you are making it all up.
Reading that reminds me of the stories my old boss used to tell about 1980 and the Hunt Brothers. It also makes me think that the buyers of large amounts like this need a good stream to get locked in and move. That shop in Monroeville isn't far from Upstate Coin and Gold near Buffalo, maybe that's where it went.
Back to the Hunt Brothers and 1980. Silver was at its peak right around $50ish and my boss told me he was working his shop with his partner and there was a line of sellers. They couldn't do the deals fast enough. He said people were buying stuff like Sterling Silver Tea Sets at a local department store, I think Higbee Brothers, and selling them for a profit as scrap!!! At the end of the day he sold a $1,000 bag of 90% to the next guy in the chain for around $32k and that was the night when the market crashed. Somebody woke up the next morning and that bag was worth around $15k!!!
You gotta have some big balls to buy like this when things are moving cause there's no telling when the bottom might fall out.. Heck, our Uncle saw to that once, why not again??
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin
@blitzdude said:
Hit a new shop just outside of Pittsburgh (Monroeville) this AM. Sold 640 ASE @ $90.50, spot was around $91 at the time. Also sold combination of 10 Navy, Army, USMC Privy eagles at $200 each. They were paying 55x on junk with melt at 65x and change.
Some guy was in there trying to sell a teapot (gutterplate) and a 1941 penny lol. Another guy trying to trade in 50% and 80% Canadian gutter for fractional gold. I didn't try to calculate what he was being offered in relation to spot but the disgusting look on his face told the story. I was in the shop for about 35 minutes total, the phone never stopped ringing. All sellers asking shop owners what they were paying for various gutter. RGDS!
For someone who constantly dunks on silver, you sure seem to have a lot of it.
I've certainly been working OT on dumping it and let me tell you. It ain't easy. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
@blitzdude said:
Hit a new shop just outside of Pittsburgh (Monroeville) this AM. Sold 640 ASE @ $90.50, spot was around $91 at the time. Also sold combination of 10 Navy, Army, USMC Privy eagles at $200 each. They were paying 55x on junk with melt at 65x and change.
Some guy was in there trying to sell a teapot (gutterplate) and a 1941 penny lol. Another guy trying to trade in 50% and 80% Canadian gutter for fractional gold. I didn't try to calculate what he was being offered in relation to spot but the disgusting look on his face told the story. I was in the shop for about 35 minutes total, the phone never stopped ringing. All sellers asking shop owners what they were paying for various gutter. RGDS!
For someone who constantly dunks on silver, you sure seem to have a lot of it.
I've certainly been working OT on dumping it and let me tell you. It ain't easy. RGDS!
@jmski52 said:
I sold all of my "collector gold" yesterday, including SP-70, MS-70, PR-70 and ungraded Burnished & Proofs. My spreadsheet is alot cleaner now. The gold went for mostly under spot, but a few still had a little pr4mium. I sold a set of graded 5 oz. ATBs for 97% of spot.
I'm going to be paying a boatload of cap gains in 2026, but now I also have significant working capital and plans to deploy it.
Very nice. I'm pulling some profits that have stagnated a little so I can focus it on other areas.
If you wanna make a little side money, the silver jewelry market is pretty insane right now. Very often I feel like I'm making up numbers and asking too much. Then I worry if it will sell for a couple days maybe a week, and then it sells anyway.
Trying to hold onto weight at this point and just harvest premiums, regardless of what form they come in.
I may exit my gold position.
I sold 2 kilo's of sterling silver jewelry making material to a friend about 3 months ago for $1 a gram.
Oops...
He's a good guy and his family has been put through the ringer last year with medical issues.
I acquired the material right so I don't mind paying it forward.
With the 50/1 GSR wouldn't it be a good time to hold your gold?
Unless you think you can double up on silver and convert back.
I have a friend who's Dad liked you to get to the pawn shop every couple weeks and buy out all their South Western turquoise & silver rings.
Now that he passed a few years ago, the family is ready to sell some of his ring hoard.
Come to find out the places they went to in Michigan told them there is no market for South Western jewelry in Michigan and they should sell them out west.
My friend said they have 15 boxes of rings.
He's arranging to ship me one box...this could be interesting.
@jmski52 said:
I sold all of my "collector gold" yesterday, including SP-70, MS-70, PR-70 and ungraded Burnished & Proofs. My spreadsheet is alot cleaner now. The gold went for mostly under spot, but a few still had a little pr4mium. I sold a set of graded 5 oz. ATBs for 97% of spot.
I'm going to be paying a boatload of cap gains in 2026, but now I also have significant working capital and plans to deploy it.
Very nice. I'm pulling some profits that have stagnated a little so I can focus it on other areas.
If you wanna make a little side money, the silver jewelry market is pretty insane right now. Very often I feel like I'm making up numbers and asking too much. Then I worry if it will sell for a couple days maybe a week, and then it sells anyway.
Trying to hold onto weight at this point and just harvest premiums, regardless of what form they come in.
I may exit my gold position.
I sold 2 kilo's of sterling silver jewelry making material to a friend about 3 months ago for $1 a gram.
Oops...
He's a good guy and his family has been out through the ringer last year with medical issues.
I acquired the material right so I don't mind paying it forward.
With the 50/1 GSR wouldn't it be a good time to hold your gold?
Unless you think you can double up on silver and convert back.
I have a friend who's Dad liked you to get to the pawn shop every couple weeks and buy out all their South Western turquoise & silver rings.
Now that he passed a few years ago, the family is ready to sell some of his ring hoard.
Come to find out the places they went to in Michigan told them there is no market for South Western jewelry in Michigan and they should sell them out west.
My friend said they have 15 boxes of rings.
He's arranging to ship me one box...this could be interesting.
Most of my gold is numismatic and I need the cash flow to go full throttle on silver so I don't have to sell any. I messed up taxes as a first time business owner during lockdown and am just now breaking free. It was pretty bad, both state and federal.
Kinda just wanna shut down the sale of every last gram of silver for my busy season and just ride this out while having a little nest egg. I wouldn't sell gold bullion or bars right now if I had them. I've already made a lot on the stuff I wanna get rid of, so it makes sense.
Designer sterling jewelry is ripping hot. I bet generics aren't far behind. I assume the same will happen to that stuff that happened to platinum jewelry in the early 2000s. I've contemplated buying a lot and just holding because I feel there will be a Renaissance and bull run for literally any silver. It is a play I'd latch onto if I didn't have a lot of silver or lot of money. I hope it goes crazy and that you and your friends do very well. It will have its day in the sun, and I don't think it will be much longer from now.
I'm kinda freaking out about my ebay store because stuff just keeps selling at prices I'm more or less just making up and feel are unreasonable at times. I'm starting to think selling anything right now is a mistake regardless of what the premium is.
Like I'm glad to see some of these things finally move and that was the goal this whole time but it just gives me bad vibes man. My busy season is a month away and I might just shut it down.
@scotty1419 said:
They explained they couldn't offer more than -$10 spot on ASEs because the refiners have dropped their rates. DIDNT KNOW WERE SCRAPPING ASEs NOW!
It's all been getting melted for some time now. ASEs as well. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
@scotty1419 said:
They explained they couldn't offer more than -$10 spot on ASEs because the refiners have dropped their rates. DIDNT KNOW WERE SCRAPPING ASEs NOW!
I say this in the least judgmental way possible and don't mean to upset anyone, but ASE are just objectively bad coins. They were already barely passable before the reverse was changed and the government - in their infinite wisdom - discovered how to make a bad situation worse. The design isn't very good and I don't even own any and likely never will.
This isn't just my own bad opinion either. New collectors really enjoy Britannias and the offerings of the Royal Canadian Mint. New stackers who have never collected coins and who never grew up with Walking Liberty half dollars have no attraction to them. The only remaining redeeming feature was they could cushion the loss if you had to sell and silver went down. The upfront premium helped mitigate losses by a few bucks.
They're 25 years late to the privy game and other mints just do it better. ASE are largely seen as the worst option. We now also have a chicken on our gold coins.
I make a killing on non-US modern bullion and it's basically a part time job doing a little more of the same work I normally do. I paid off 15k in tax debt with it last year. I'd never do that with ASE. And now, with the skyrocketing premiums on the mint site, the government is basically just looting the corpse of what used to be a popular coin.
@Wingsrule said:
ASEs are gorgeous and the T2 reverse is better than the original.
And they are by far the most liquid gutter coins in the US. Although ATM they are mostly being treated like everything else I have run across several shops that are not buying any gutter at all with the exception of ASEs. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
And they are by far the most liquid gutter coins in the US. Although ATM they are mostly being treated like everything else I have run across several shops that are not buying any gutter at all with the exception of ASEs. RGDS!
Local shops are buying all types of 999 silver, but most have the same discount/premium for all. If you spend the time, you can dig and find some neat government issues at the same price as a Sunshine Mint
Comments
Checked in to a few local shops this morning to sell some 10K gold jewelry.
As I was waiting I overheard people being offered 42X face for 90%, think I heard $65/oz for .999. Was offered 38X face at the other shop, and $44 ea for random date Morgans. The shop with the better prices was buying .925 sterling, the other wasn't.
I understand their situation but frankly garbage prices on silver and I can easier sell for much closer to melt on Reddit groups. Happy to hold on to the rest of my physical stack anyway. Moved the 10K at something around 70% of melt which was pretty bad but it was really low quality stuff I wanted to be rid of and I don't have time to drive to the better places that are open during the week.
rip off shops
Many "shops" don't have the capitol to be dealers and are glorified collectors. The market going forward will put them to sleep.
COPPER is gutter !
I don't blame the shops who have to pay rent and heat and make ends meet. I live in a rural / lower density population area. It's all good. You can get great prices on Reddit once you have established yourself as a trustworthy seller. It's just a tough time to liquidate silver. Certainly makes me reconsider my investing thesis from two years ago when I was buying a lot of 90%. I managed to stack a lot of BU Kennedy halves, pre-21 Morgans and ASE that have held up better than junk silver in this market. Moved all my bulk 90% in the last month.
I sold all of my "collector gold" yesterday, including SP-70, MS-70, PR-70 and ungraded Burnished & Proofs. My spreadsheet is alot cleaner now. The gold went for mostly under spot, but a few still had a little pr4mium. I sold a set of graded 5 oz. ATBs for 97% of spot.
I'm going to be paying a boatload of cap gains in 2026, but now I also have significant working capital and plans to deploy it.
I knew it would happen.
You're gonna buy bonds, aren't you?
Knowledge is the enemy of fear
Bonds. LOL.
Paper. LOL
COPPER is gutter !
You're gonna buy bonds, aren't you?
Not in this lifetime, lol.
I knew it would happen.
Stopped by my lcs on my lunch and was 8th in line. They were paying $-3 for ASE’s and $-4 to $-5 on everything else. They weren’t taking sterling jewelry. I didn’t ask about 90%.
My local haunt today was $5 back of spot on.999
Pristine ASE's, Maples paying spot because they don't have any in the cases.
I bought rolls of meaty Walkers at my LCS for 55x face on Friday.
Dave
Paying more for Maples than ASE’’s simply because they don’t have them? I wouldn’t go back.
COPPER is gutter !
Shops going to be busier today...
Hit a new shop just outside of Pittsburgh (Monroeville) this AM. Sold 640 ASE @ $90.50, spot was around $91 at the time. Also sold combination of 10 Navy, Army, USMC Privy eagles at $200 each. They were paying 55x on junk with melt at 65x and change.
Some guy was in there trying to sell a teapot (gutterplate) and a 1941 penny lol. Another guy trying to trade in 50% and 80% Canadian gutter for fractional gold. I didn't try to calculate what he was being offered in relation to spot but the disgusting look on his face told the story. I was in the shop for about 35 minutes total, the phone never stopped ringing. All sellers asking shop owners what they were paying for various gutter. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Looks like you need to stop saying gutter. One could almost say RSDG (Retain Silver Dump Gold)
My half hour walk through saw 361 silver ounces sold at $85 with spot bumping along at $91.
That should cover rent and the light bill.
Hit a shop yesterday, semi urban, had almost nothing in silver and gold. Sent to the smelter for cash flow don't blame them.
I spent the afternoon yesterday at a "local" coin chop about 30 miles from here.
Mostly I was looking for bargains in their collectible foreign coins (silver and base metal - no gold).
I was over in the corner doing my thing while all the activity was going on in the rest of the shop.
Many of the foreign silver coins were priced under melt, but I didn't hold them to the marked prices.
Some of the scarcer copper pieces were discounted to me and some of the cheaper silver coins were higher-than-marked.
It all about washed out in the end.
There was no line, but they were busy at times.
A woman came in with a wooden box full of sterling flatware. I don't know what the shop paid her, but they did buy it.
Another person sold the shop about 10 gold eagles.
One woman came in with the intent of buying some silver eagles. I didn't pay attention to what she actually left with.
Several other people came in to "look around" - they were curious about precious metals but not buying or selling yet.
With Silver over $90 I don’t think sellers of 90% should take less than 55x. The buyers who are offering close to 40x like some replies have one of two problems - - - either they don’t have a good outlet to sell or they are cash poor and afraid.
I think getting those low offers would cause someone to look elsewhere, not sell.
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin
Local small shop: buying 90% at 50x, but dont want it, dosnt sell, and when a customer comes in to buy its usually less than 100 total value, and i sell it to them at spot-5.00 best place I sell to wholesale currently is spot minus 6.25. So dont mind given the buyer a deal.
.999 turning down more than I can buy currently. No buyers, except for an oz or two, people wanting to sell thousands of oz daily.
My biggest problem here is everybody wants cash, with no record of the transaction , trying to sell hundreds of oz at a time for cash. I have gotten to the point, just cant do it any longer. I'm limiting cash outlay. I talked to dealer friend 50 miles away in larger town, he dosnt have that problem, everyone that wants to sell dont mind taking a check .
If the dealer is reputable and well established there’s nothing wrong with a check. When I sold recently I told the dealer I’d take a check and they said they had cash. They still checked ID and gave me my half of a 2 part receipt.
Too many people want to act like they’re in a Peter Lorre spy thriller, pure paranoia.
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin
Agreed, One could imagine No paper trail is better than a flashing light on radar.
Local shop near me was moving 1000 ounces, last nights speed dip was a bit dicey and the seller location this morning was Rocking and Rolling.
Did someone mention volatility
Very nice. I'm pulling some profits that have stagnated a little so I can focus it on other areas.
If you wanna make a little side money, the silver jewelry market is pretty insane right now. Very often I feel like I'm making up numbers and asking too much. Then I worry if it will sell for a couple days maybe a week, and then it sells anyway.
Trying to hold onto weight at this point and just harvest premiums, regardless of what form they come in.
I may exit my gold position.
For someone who constantly dunks on silver, you sure seem to have a lot of it.
Collector, occasional seller
You never name the shops. Because you are making it all up.
COPPER is gutter !
640 ASE @ $90.50 each = $57,920.
Reading that reminds me of the stories my old boss used to tell about 1980 and the Hunt Brothers. It also makes me think that the buyers of large amounts like this need a good stream to get locked in and move. That shop in Monroeville isn't far from Upstate Coin and Gold near Buffalo, maybe that's where it went.
Back to the Hunt Brothers and 1980. Silver was at its peak right around $50ish and my boss told me he was working his shop with his partner and there was a line of sellers. They couldn't do the deals fast enough. He said people were buying stuff like Sterling Silver Tea Sets at a local department store, I think Higbee Brothers, and selling them for a profit as scrap!!! At the end of the day he sold a $1,000 bag of 90% to the next guy in the chain for around $32k and that was the night when the market crashed. Somebody woke up the next morning and that bag was worth around $15k!!!
You gotta have some big balls to buy like this when things are moving cause there's no telling when the bottom might fall out.. Heck, our Uncle saw to that once, why not again??
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin
I've certainly been working OT on dumping it and let me tell you. It ain't easy. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Correct, and that $58K will be going straight into BTC. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
It's very easy. You are just LAZY. Click Click!
COPPER is gutter !
It's very easy. You are just LAZY. Click Click!
(and unrealistically greedy)
I knew it would happen.
I had a guy today, clear out walmart clearance jewelry counter and bring it to me for scrap, said he did well at current price.
some time back i paid over spot for some barber half dollars. they were a little over 44x. it's about $65FV
i can hear the numbers now being upper 40s on the low end
now my question is that I'm going to risk upsetting the other half and do a silver for 1/10 age exchange
what can I expect? it seems some online places (apmex) are selling 70 over per coin, while others are 50 over
is this an easy task? is 50 over about right?
As of this moment Scotsman is about 39 over (499.65 vs 460.65 spot)
Innovative dude!
I like it.
Wonder how many will read your post, have a walmart near them, and try it.....?
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I sold 2 kilo's of sterling silver jewelry making material to a friend about 3 months ago for $1 a gram.
Oops...
He's a good guy and his family has been put through the ringer last year with medical issues.
I acquired the material right so I don't mind paying it forward.
With the 50/1 GSR wouldn't it be a good time to hold your gold?
Unless you think you can double up on silver and convert back.
I have a friend who's Dad liked you to get to the pawn shop every couple weeks and buy out all their South Western turquoise & silver rings.
Now that he passed a few years ago, the family is ready to sell some of his ring hoard.
Come to find out the places they went to in Michigan told them there is no market for South Western jewelry in Michigan and they should sell them out west.
My friend said they have 15 boxes of rings.
He's arranging to ship me one box...this could be interesting.
Most of my gold is numismatic and I need the cash flow to go full throttle on silver so I don't have to sell any. I messed up taxes as a first time business owner during lockdown and am just now breaking free. It was pretty bad, both state and federal.
Kinda just wanna shut down the sale of every last gram of silver for my busy season and just ride this out while having a little nest egg. I wouldn't sell gold bullion or bars right now if I had them. I've already made a lot on the stuff I wanna get rid of, so it makes sense.
Designer sterling jewelry is ripping hot. I bet generics aren't far behind. I assume the same will happen to that stuff that happened to platinum jewelry in the early 2000s. I've contemplated buying a lot and just holding because I feel there will be a Renaissance and bull run for literally any silver. It is a play I'd latch onto if I didn't have a lot of silver or lot of money. I hope it goes crazy and that you and your friends do very well. It will have its day in the sun, and I don't think it will be much longer from now.
Visited a local shop today that isn't very strong on the silver side.
Buying ASE at $10 BACK, selling for +$7!
Buying 90% at 45x, selling at 60x.
Counter-parties. Lol
Knowledge is the enemy of fear
Was driving my my LCS and there had to be 6 cars/SUVs in front of small store. He is thriving, best ever.
I'm kinda freaking out about my ebay store because stuff just keeps selling at prices I'm more or less just making up and feel are unreasonable at times. I'm starting to think selling anything right now is a mistake regardless of what the premium is.
Like I'm glad to see some of these things finally move and that was the goal this whole time but it just gives me bad vibes man. My busy season is a month away and I might just shut it down.
That's quite the spread but I've seen worse. Life in the gutter they say. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
.
There is no counter-party until the parties enter into a contract.
PS:
Those are extremely uncompetitive offers, of course.
.
Forgot to add, anecdotally observing the time I was there...
Multiple people came in who didn't seem to have any knowledge or understanding of silver and expressing an interest to drop multiple $k.
Definitely clear FOMO from some general public. Staff said they've been seeing more of that...
They also offered spot -$10 for a proof which moreso surprised me.
They explained they couldn't offer more than -$10 spot on ASEs because the refiners have dropped their rates. DIDNT KNOW WERE SCRAPPING ASEs NOW!
It's all been getting melted for some time now. ASEs as well. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
lolz that's life visiting the cash poor "dealer/shop"
This new reality will shed many of them.
COPPER is gutter !
I say this in the least judgmental way possible and don't mean to upset anyone, but ASE are just objectively bad coins. They were already barely passable before the reverse was changed and the government - in their infinite wisdom - discovered how to make a bad situation worse. The design isn't very good and I don't even own any and likely never will.
This isn't just my own bad opinion either. New collectors really enjoy Britannias and the offerings of the Royal Canadian Mint. New stackers who have never collected coins and who never grew up with Walking Liberty half dollars have no attraction to them. The only remaining redeeming feature was they could cushion the loss if you had to sell and silver went down. The upfront premium helped mitigate losses by a few bucks.
They're 25 years late to the privy game and other mints just do it better. ASE are largely seen as the worst option. We now also have a chicken on our gold coins.
I make a killing on non-US modern bullion and it's basically a part time job doing a little more of the same work I normally do. I paid off 15k in tax debt with it last year. I'd never do that with ASE. And now, with the skyrocketing premiums on the mint site, the government is basically just looting the corpse of what used to be a popular coin.
ASEs are gorgeous and the T2 reverse is better than the original.
And they are by far the most liquid gutter coins in the US. Although ATM they are mostly being treated like everything else I have run across several shops that are not buying any gutter at all with the exception of ASEs. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Local shops are buying all types of 999 silver, but most have the same discount/premium for all. If you spend the time, you can dig and find some neat government issues at the same price as a Sunshine Mint
So busy he only allows people in by appointment. While inside the phone rings nonstop to take more appointments.
Great dealers are doing strong business right now.
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