What's selling, what's not?
logger7
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Coin shows draw a different group of people than online sites.
From what I'm seeing Morgan and Peace dollars, common dates in reasonable condition are selling in the $65-$70 range or so. Certified common dollars in average unc. condition are not drawing strong interest or increasing much. Whether PCGS, NGC, Cacg, Anacs or ICG I'm not seeing significant increases.
Is the flattened pricing on certified generic gold coins carrying over to the certified generic silver coins?
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Many buying bullion material (slabbed bullion coins very popular) in building up their investment. Bullion coins are doing well. In terms of Classic material - The flattened pricing seems to affect silver as well imo.
Yes I think shows draw a different group of buyers. Many of them are very well off and very likely set builders in the area of Classic coins. Usually some area they specialize in. Will silver advance past $100?
The problem is there is probably far more selling of silver dollars than of buying. This means anything on the market is in great danger of being gathered up for melting. There's too much of it to pick through just like in 1980 so it all gets melted.
What's melted is never random: It is what happens to be at hand while sellers are gathering it up to ship to the refiner. At $90 silver it's much easier to sell Morgans to be melted than to wait for a collector. Anything actively on the market might get melted even if it's a nice silver dollar that was worth $75 when silver was $14.
gold premium collapse is separate from silver premium collapse, but both are happening. i wouldn't say "carrying over"
We picture it being only the worst of the worst but that stuff has already been melted. Anything worth as much dead as alive and, obviously this is defined differently by every seller.
I just put 5 or 6 Morgans and Peace dollar that were bought raw as UNCs 20years ago into the “sell” bag. They’re common and may or may not actually grade UNC, so if they’re now $70 coins (or so) they’ll probably get turned into something else for my collection soon.
I recently told a dealer “I don’t need any more common Morgans in 64” so now that there’s no premium to be fought for on these raw ones, they’re likely out.
I spoke with our friend "Skip" from Icg today who said they did more business than ever at FUN. I was checking on a small order I sent them of dollars which was probably a waste of money, a common Morgan in unc., a better "s" mint that graded details, a couple Peace dollars. Grading common material makes no sense in the current metals market. Plus I get the usual kick in the butt with them.
The new crew of buyers are probably increasing eyeballs looking at coins a lot online and foot traffic at shows. If silver hits $100 we'll probably have another group coming out of the woodwork to buy and look.
There probably will be very few surviving 40s 50s quarters soon.
Yes, and different types of coin shows draw different groups of people.
FUN draws WAY different groups than small local shows.
While some groups may go to both, the larger, more well known, shows will draw quite different crowds from the small local ones who almost no one hears about.
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 had common date morgan and peace in shop bucket at 54.00 nobody buying them, took them to the wholesaler this am, and was paid 60.00 each. Bucket is empty and will stay empty at this price point, all going to melt
Certainly 1oz bullion coins.
I invested a substantial amount in 1oz slabbed bullion coins awhile back (MS69 / 70). about 1-2yr ago. US, Canada, Mexico (many low pop), SA whatever. Now they getting stellar prices. Wish invested more. Will hold some back get even more if silver goes up more. Many members in coin club did too. Been buying some US slabbed silver coins where price compressed down. Fun and games. Some slabbed Morgan’s (mostly 63 and 64) bought back then pitiful in competing with the others. But I think bids moving up now.
Just go for what you like / in this bull market who knows how high they can go. Couple weeks ago bought a CACG MS70 ASE for $88 now it’s way up above that (this market). It even went in the green for me while in transit! Wouldn’t they make a nice stack of slabs.
I'm curious if this is similar to when the bulls are running in the stock market that suddenly people are rushing the market after the market has nearly peaked and then panic sell at a loss when the market dips or starts to collapse. Very irrational.
What exactly do they know now that they didn't know 5-10 years ago when they could have bought silver at a much lower price? Are they the irrational individuals that will panic sell at a loss when the market dips?
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maint. Crew Chief and Contracting Officer.
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5-10 years ago? How about 6 months ago?
Some of it is a short squeeze. But there are a lot of drivers, almost none of them related to actual demand (other than future demand speculation).
https://silverinstitute.org/silver-supply-demand/
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I started selling silver when it broke $60 and have continued to. Seems to be ready buyers for everything except 40% halves, as long as you leave some room (under spot/melt).
Mine was acquired long ago at low prices, so it’s easier to leave some meat on the bone for the next guy, to make a sale. I’ll hold back some 10 oz bars, Morgans, and walker rolls for a rainy day, unless prices get really nutty.
Morgans at $54 with melt at $70? Unless they were culls I would have took them all. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Agree. Guess you don't have old time collectors by you. I know the ASE's, Maples etc are what's in demand for the newer silver stackers, but I'd take a Morgan at $54 over an ASE at $85-90 any day.
If you sell dollars on ebay for $65, after $5 free shipping and around 10% for top sellers with stores you net ten bucks less. But still better than local low ball buyers.
For whatever sales venue you need to calculate return on investment after item cost, fees, shipping costs, other opex.
Investors who loaded up on silver bullion coins when silver much cheaper raking in a bonanza.
We can no longer justify a return on investment by selling Double Eagles through our E-Bay store.
The fees are too great for our generic DE gold holdings and we have no interest to buy much better coins.
Our inventory is down to the level we wanted to reach considering $4700 gold. We have no interest in selling any more coins.
WE are not complaining since we started buying the DE's in 2014 and have benefited from the rising gold price.
I guess, WE should have gone into physical silver but we had enough storage issues with gold.
The irony of all this is that we made our largest gold sale on E-Bay in December and rather than paying us in a day or so E-Bay informed us that we would have to wait a month to be paid. Perhaps it was prudent on their part but scared us into wondering whether they really had our back?
Whatever makes them $$$ or looks good as an investment, and anything that doesn't look like it will make them $$$ or it's a good investment they flee from it
silver coin sale at link below
https://photos.app.goo.gl/N1s4aR1Gex59y26c7
"She comes out of the sun in a silk dress,
running like a water color in the rain...."
In this day and age, I san't see any reason to withhold payment for thirty days unless prior arrangements were made. There are several good alternatives to EBay.
A local shop dealer says he's not really interested buying bullion at these levels, just too much money to tie up with minimal returns.
At my show nobody was buying any form of junk silver/bullion unless it was at about $40 per ounce. Theres just so much uncertainty in silver right now.
Respectfully, those must be amateurs. Any professional dealer knows how to make money at a much higher number.
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I sold some silver rounds at that show @ $85.
DPOTD-3
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Don
Over the last week, I have sold many modern commemorative silver coins and low-end Morgan dollars, which I attribute to the rising value of silver.
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It might be the automatic payment deadline. The buyer can pay at any time but it auto paid at that date.
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I called E-Bay after I saw the delay in payment. They attributed the delay to the fact that I was selling a "high ticket item".
I asked how large a sale qualifies? They indicated above $1000. I told them I sold $10,000 (2 coins) the prior month with no delay. It's as if they didn't hear me. I would have persisted except with the margins I am currently receiving + my balanced inventory I was heading for the door anyway (my goal was selling excess inventory and after 8 years my goal was reached). I just needed the push and they gave it to me. As a side note I sold a $10,000 coin one day after the $19,000 sale and E-Bay cut me a break on the second sale. They paid 2 days after the the PO confirmed delivery. LOL.
You have to remember that eBay doesn't trust sellers to be honest.
I know that in 1980 when I sold nearly $300 silver in face
value. It piqued the interest of many friends and associates who suddenly became interested in the hobby for various reasons and several still are. Perhaps all the commotion of the market may bring about similar results across the hobby even though unintended. JMO
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
Wow
. I brought a whole bunch but the most I got was about 45x face, for morgans! Maybe I have to get there earlier.
I'd keep in mind that eBay is dealing with huge numbers of buyers and sellers as the largest marketplace out there online. They've dealt with a lot of frauds over the years and don't want to be on the hook for a fraudulent transaction. No doubt they rate every seller on a number of points. I've seen significant sellers thrown off or put on probation. I had a buyer who said his order was delivered to someone else. He opened a claim, they sided with me then he opened a chargeback which ebay had to pay for.
Don't you think that ebay knows those who are making repeated claims of not getting their orders as well as sellers who are not honest?
It’s simple: what’s selling is whatever I am not trying to unload. What isn’t selling is whatever I’ve got to sell
as a non dealer that is.
Morgans aren't a full ounce. $45 is still cheap if they aren't culls. 90% is trading back of spot, but not that far back. You should have gotten more like $55 to $60
All comments reflect the opinion of the author, even when irrefutably accurate.
The dealer I sold to was mainly looking for .999 silver. I didn't ask him about 90%.
I recently had no problem quickly selling 90% on the BST at 58x Face. Of course I had to pay for shipping.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
Yes if you don’t get paid right away BV could be considerably higher. Not a comfy thought.
Still it's better than waiting weeks as many sellers had to do from a dealer after you shipped the items, or in the case of auction companies as long as 6 months.
I know a dealer that is owed mid 7 figures from a wholesaler due to the refining backlog. Been going on for 8 weeks now.
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Yeah, I didn't sell. I'm mostly waiting for the silver price to stabilize to something like how it was before.