@jdimmick said:
Buying gen at spot -10% and ase at spot minus 4.00 (currently not buying kilo's and hundreds)
but selling generic at -2.00 to move some, took a sh t load to the refinery last night. Not ase , they sell at spot easily.
90% buying at 50x Im low but other shop in town is lower at 40X ,
I ran out of money thursday afternoon for fri start, put a sign up not buying till some checks came in, had to turn down a bunch first hour. Last night I took 60k to the refinery from wed/thur buy , but they could only give me partial payment, until next tuesday. Had taken another 40k to another place wed am, and just now got check in before close of bank business tonight, it will be credited sat am.
Selling some of my collector coins to GC to free up more capital for buying, I hate too , but have too. Its intense, and Im a small potato shop.
A dealer friend of mine in Wilmington said he is buying at spot minus 25.00 on .999 and people are still selling like gang busters, he is making a fortune. I told him Id rather refuse to buy then low ball somebody like that. Another pawn gold shop here in town is at half price on anything silver gold.
People selling at spot minus 25 are morons. God Bless 'Murica
Good for you for trying to keep it real. I hope you aren't a casualty of the new normal.
So by the time the “great silver Melt volume 2” is done my BU rolls of 1964 p and d quarter rolls and 50 BU rolls of 64 Kennedy halfs might be Hard to find in BU. When common 90% get melted in the tens or hundreds of thousands bags. Then the common ain’t so common anymore.
@Mike59 said:
So by the time the “great silver volume 2” is done my BU rolls of 1964 p and d quarter rolls and 50 BU rolls of 64 Kennedy halfs might be Hard to find in BU. When common 90% get melted in the tens or hundreds of thousands bags. Then the common ain’t so common anymore.
Yes. Similar to the 1960's ish moms who tossed their college age children's baseball cards.
Can't understand why anyone would buy [silver at $100+].
.
I think back to when silver was $40 or less.
What silver coins would sell for the equivalent of $100 per ounce at that time ?
Can they still be bought for that same price (or close to it) now that silver is at $100+ ?
Today, a local coin shop had Morgan dollars for $80 (right at melt). It didn't matter if they were VG or UNC (same price).
When silver was $40, the nicer UNC coins would have sold for close to $75 or $80. If silver were to suddenly drop back to $40 the value of those Morgan Dollars would hold up a lot better than SLV or something like that. In fact, the price for those Morgan Dollars might stay at $75 or thereabouts, even with silver back down at $40.
I needed some Morgan Dollars for an over-strike product, so I bought a couple rolls. I will keep the nicest ones and add them to a tube that I am filling up.
So, yes, I did pay close to $104 for a little bit of silver that I will hang on to for now.
I wouldn't sell anything on this site. Most are old people still looking for $18 silver LOLZ
90% of your 400+ posts in the last 4 months do little more than insult people on this board. You post about baseball cards for years, then come in as silver starts its run and act like you have been its biggest cheerleader since the 2011 pullback. I have bought and sold on this site and been paid a lot more than $18 by members who are a lot older than me. People make decisions on what to buy and what they will sell based on their current financial/life and not posts by Ralph Kramden shouting 'To The Moon, Alice!"
At current spot prices the ratio of Silver to Gold price is 48:1. That’s the closest it’s been to a traditional 35:1 in a long, long time. I know when I worked in a shop between 2005-16 it was typical for it to be closer to 75:1.
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin
I wouldn't sell anything on this site. Most are old people still looking for $18 silver LOLZ
90% of your 400+ posts in the last 4 months do little more than insult people on this board. You post about baseball cards for years, then come in as silver starts its run and act like you have been its biggest cheerleader since the 2011 pullback. I have bought and sold on this site and been paid a lot more than $18 by members who are a lot older than me. People make decisions on what to buy and what they will sell based on their current financial/life and not posts by Ralph Kramden shouting 'To The Moon, Alice!"
lolz Ive been stacking for years. yawn yawn yawn
But thanks for mentioning my card history. I still own all of it
Pretty pathetic considering spot $72 was coming in at $6.50 down on the day. Dealer #1 got mad when I told him I wouldn't sell, **he told me I was making a big mistake as it's only going down from here. **-$8.00 on .999 gutter on top of a -$6.50 day. No thanks, As I was leaving I noticed he had some 1/10 AGEs in the case, I inquired as to his asking price......spot +$40 lol. Certainly, won't step foot in there again.
But thanks for mentioning my card history. I still own all of it
You have my condolences. LOLZ
I own a complete 1978 Topps Baseball PSA graded set in PSA 9 and higher. All 726 cards. I built it way back in the days of $5 bulk submissions. There are no condolences needed lolzz
So, it wasn't me that brought this up BUT honestly, ending that project left a large void and that's when I eventually turned to stacking silver. I'm still in the card game although at only the vintage unopened pack/box level. But stacking came in on the heels of that graded set build. Which took half a decade to complete 100%
Finally consolidated my junker silver to move it on. Visited LCS #1 and sold some at 60x face today - several other sellers in the door.
Went on to LCS #2 which was a very busy shop for transactions of all sorts in/out. 1 guy was trading some silver into gold. Some buying a bit of silver. While I was there he had to go in the back to replenish his silver trays.
Ended up buying some better Morgans, and a few unc slabbed Peace dollars at melt.
Anyone buying the low grade junker silver dollars seems to be carrying the risk in this environment. If silver drops, those go right with it. The unc/62-64 slabbed dollars should hold value much better.
I spotted a few 'stale priced' items like a Libertad at 90 and a few silver dollars at 50-60 but he wouldn't let me get them
Pretty pathetic considering spot $72 was coming in at $6.50 down on the day. Dealer #1 got mad when I told him I wouldn't sell, **he told me I was making a big mistake as it's only going down from here. **-$8.00 on .999 gutter on top of a -$6.50 day. No thanks, As I was leaving I noticed he had some 1/10 AGEs in the case, I inquired as to his asking price......spot +$40 lol. Certainly, won't step foot in there again.
How'd that work out for ya'?
Worked out just fine. I sold gutter elsewhere at higher prices, multiple times. Bought some Pre33 Au at spot instead of modern 1/10th's at +$40. 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?
But thanks for mentioning my card history. I still own all of it
You have my condolences. LOLZ
Baseball cards? Preparing for the great cardboard shortage perhaps. I'm sure some shop on YouTube that nobody's ever heard of probably has a video about it. LoLZ! THKS!
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?
@Maywood said:
Can't understand why anyone would buy.
I have multiple hypotheses but no evidence. One is that it's a mania, yet another bubble, and after decades of financializing and casino-izing everything, it draws in all the speculators because of the tremendous profits that can be made if the bubble is played correctly. In my limited view, if it is a bubble, only a very small percentage of Americans are participating in it so there is the possibility that the bubble can become much, much larger and price jumps can be even greater than what we've seen so far.
To provide a data point that is relevant to this thread, I called a local coin shop on January 20th to ask their buying price for a box of Canadian silver maple leafs coins (500 troy ounces total). They quoted me "$5 back of spot" and spot price was about $95 when I called. I am in a large city in Texas.
@Mike59 said:
So by the time the “great silver Melt volume 2” is done my BU rolls of 1964 p and d quarter rolls and 50 BU rolls of 64 Kennedy halfs might be Hard to find in BU. When common 90% get melted in the tens or hundreds of thousands bags. Then the common ain’t so common anymore.
Somewhat related, the public hated the Commemorative Arts gold coins the U.S. Mint produced in the 1980s. Even before the past few years' big run-up in gold prices, the one-ounce gold Commemorative Arts coins usually were bought at a discount to spot price (I was seeing 3% - 6% back of spot). Once all the dust clears, the Commemorative Arts coins might have a fair amount of numismatic value.
@Mike59 said:
So by the time the “great silver Melt volume 2” is done my BU rolls of 1964 p and d quarter rolls and 50 BU rolls of 64 Kennedy halfs might be Hard to find in BU. When common 90% get melted in the tens or hundreds of thousands bags. Then the common ain’t so common anymore.
Somewhat related, the public hated the Commemorative Arts gold coins the U.S. Mint produced in the 1980s. Even before the past few years' big run-up in gold prices, the one-ounce gold Commemorative Arts coins usually were bought at a discount to spot price (I was seeing 3% - 6% back of spot). Once all the dust clears, the Commemorative Arts coins might have a fair amount of numismatic value.
I’ve agree 100%. When I wanted “cheaper” gold in amounts less than 1 ounce I would buy some foreign gold or $5 gold commemoratives for Spot or just below. It was a good way to pick up some metals for bit less.
Today , sat 1/24. Dealer friend in Raleigh called ,me at 9:30 said line was out the door, with folks selling . I told him on phone while in car I hadnt had any calls this am, so I wasnt expecting same (i dont open till 11am on sat), then 11 am hits, blam , folks pouring in to sell like no tomorrow for a good solid hour & 1/2. then it settles down. I did actually have a few newbie buyers who bought about 25-30 oz total, course no where near what was taken in.
One guy that stopped in to take advantage of my spot minus 2.00 selling on generic rounds, told me he went to one shop this am, dealer was buying at -15.00, but selling at 10 over. on generic. (some folks are just pure ruthless)
Pretty pathetic considering spot $72 was coming in at $6.50 down on the day. Dealer #1 got mad when I told him I wouldn't sell, **he told me I was making a big mistake as it's only going down from here. **-$8.00 on .999 gutter on top of a -$6.50 day. No thanks, As I was leaving I noticed he had some 1/10 AGEs in the case, I inquired as to his asking price......spot +$40 lol. Certainly, won't step foot in there again.
How'd that work out for ya'?
Worked out just fine. I sold gutter elsewhere at higher prices, multiple times. Bought some Pre33 Au at spot instead of modern 1/10th's at +$40. RGDS!
But thanks for mentioning my card history. I still own all of it
You have my condolences. LOLZ
Baseball cards? Preparing for the great cardboard shortage perhaps. I'm sure some shop on YouTube that nobody's ever heard of probably has a video about it. LoLZ! THKS!
Baseball Cards...
I knew a teenager who was at a park sale and found one of those Styrofoam coolers with older baseball Cards for $50.
10 years later he started selling the cards and sold over $50k in ungraded Cardboard.
But thanks for mentioning my card history. I still own all of it
You have my condolences. LOLZ
Baseball cards? Preparing for the great cardboard shortage perhaps. I'm sure some shop on YouTube that nobody's ever heard of probably has a video about it. LoLZ! THKS!
Baseball Cards...
I knew a teenager who was at a park sale and found one of those Styrofoam coolers with older baseball Cards for $50.
10 years later he started selling the cards and sold over $50k in ungraded Cardboard.
It doesn't make much sense in this forum to talk CARDBOARD but it's undeniable that it acts just like SILVER & GOLD in that hobby when it's high-end material.
But thanks for mentioning my card history. I still own all of it
You have my condolences. LOLZ
Baseball cards? Preparing for the great cardboard shortage perhaps. I'm sure some shop on YouTube that nobody's ever heard of probably has a video about it. LoLZ! THKS!
Baseball Cards...
I knew a teenager who was at a park sale and found one of those Styrofoam coolers with older baseball Cards for $50.
10 years later he started selling the cards and sold over $50k in ungraded Cardboard.
Negative card commentators may want to check out the prices of 1986 Fleer Jordan rookie card,anything Mickey Mantle, and anything of Shohei Ohtani. Just to name a few.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
Pretty pathetic considering spot $72 was coming in at $6.50 down on the day. Dealer #1 got mad when I told him I wouldn't sell, **he told me I was making a big mistake as it's only going down from here. **-$8.00 on .999 gutter on top of a -$6.50 day. No thanks, As I was leaving I noticed he had some 1/10 AGEs in the case, I inquired as to his asking price......spot +$40 lol. Certainly, won't step foot in there again.
How'd that work out for ya'?
Worked out just fine. I sold gutter elsewhere at higher prices, multiple times. Bought some Pre33 Au at spot instead of modern 1/10th's at +$40. RGDS!
de, e, he, or qe ? graded or not?
2 he and 1 qe. All 3 slabbed. The qe right off our very forum actually. 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?
Have 20 oz of 925 to sell for a buddy. Called two shops - one was 50% of melt and the other was 59%. Was told refiners are 60 days out and will not pay until it is processed. Decided to wait until the refinery situation susses itself out. Spot can drop quite a bit and still be ahead once the buy price normalizes.
Yeah, what a difference a week makes. 3 shops in Pittsburgh today, 1 I have dealt with before and the other 2 were my first time in. I was only looking to move fresh tubes of ASEs:
Shop 1: Was offered $87 when spot was $107. $20 haircut lol
Shop 2: Offered $80 when spot was around $105 Sold here before about a month ago, Maples, Brittanias etc.
Shop 3: Offered $80 again when spot was around $107. Asked hypothetically what they would pay for Platinum Eagles, spot -20%. Asked if they were buying gold, said not really but would buy AGEs. Wouldn't quote me a price. Asked if they had any gold for sale, nope. Became offended when I wouldn't sell the ASEs at $80. 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?
If somebody predicted $100 it's because they guessed right.
There is something going on with global demand/supply. Domestic reports are anecdotal IMO.
Jit.
Suddenly there are only buyers and no sellers and industry has been running with about a three week supply in the pipeline. This can't change rapidly because the human race lacks the capacity to refine it as fast as the growing demand.
But there's enough silver to last for at least ten years but it's not available in this market. Much of it isn't even mined yet and some will have been recycled by then.
People just need to stay calm. Nobody needs to get hurt in this transition except the shorts.
@blitzdude said:
Yeah, what a difference a week makes. 3 shops in Pittsburgh today, 1 I have dealt with before and the other 2 were my first time in. I was only looking to move fresh tubes of ASEs:
Shop 1: Was offered $87 when spot was $107. $20 haircut lol
Shop 2: Offered $80 when spot was around $105 Sold here before about a month ago, Maples, Brittanias etc.
Shop 3: Offered $80 again when spot was around $107. Asked hypothetically what they would pay for Platinum Eagles, spot -20%. Asked if they were buying gold, said not really but would buy AGEs. Wouldn't quote me a price. Asked if they had any gold for sale, nope. Became offended when I wouldn't sell the ASEs at $80. RGDS!
@blitzdude said:
I was only looking to move fresh tubes of ASEs:
Shop 1: Was offered $87 when spot was $107. $20 haircut lol
Shop 2: Offered $80 when spot was around $105 Sold here before about a month ago, Maples, Brittanias etc.
Shop 3: Offered $80 again when spot was around $107.
>
I wonder what they were selling fresh tubes of ASEs for.
I was only looking to move fresh tubes of ASEs:
Shop 1: Was offered $87 when spot was $107. $20 haircut lol
Shop 2: Offered $80 when spot was around $105 Sold here before about a month ago, Maples, Brittanias etc.
Shop 3: Offered $80 again when spot was around $107.
Cool your jets, big fella. Wait it out. You can thank me later.
Q: Are You Printing Money? Bernanke: Not Literally
I was only looking to move fresh tubes of ASEs:
Shop 1: Was offered $87 when spot was $107. $20 haircut lol
Shop 2: Offered $80 when spot was around $105 Sold here before about a month ago, Maples, Brittanias etc.
Shop 3: Offered $80 again when spot was around $107.
Cool your jets, big fella. Wait it out. You can thank me later.
dunno. things are getting worse for us, as refiners are now very overloaded again. i'm thinking this gets much worse before it gets better
@blitzdude said:
Yeah, what a difference a week makes. 3 shops in Pittsburgh today, 1 I have dealt with before and the other 2 were my first time in. I was only looking to move fresh tubes of ASEs:
Shop 1: Was offered $87 when spot was $107. $20 haircut lol
Shop 2: Offered $80 when spot was around $105 Sold here before about a month ago, Maples, Brittanias etc.
Shop 3: Offered $80 again when spot was around $107. Asked hypothetically what they would pay for Platinum Eagles, spot -20%. Asked if they were buying gold, said not really but would buy AGEs. Wouldn't quote me a price. Asked if they had any gold for sale, nope. Became offended when I wouldn't sell the ASEs at $80. RGDS!
Dang that's brutal, coin shops crossing into pawnshop territory.
I get it Volitility and All but might be time to hold.
I'm moving 14 ounce for someone tomorrow morning at $102.
Deal is for 14 silver Libertads that was locked in last Friday.
The rest I'm going to sit on and ride it out...One way or another.
It's easy to do, it's not my silver or my paper.
I was informed today that two of the places we shipped too cut the spot minus on .999 by double, and 90% by 2.5x. Its ugly, also was told dont expect payment to process as quickly either, extended times on payment back now. Im a small shop and stuff coming in so fast, I can keep up taking more $ than I have to operate as this level. Probably going to close er down at weeks end to catch up. There are a few local buyers, but their only buying 5 maybe10% of whats coming in door currently.
@jdimmick said:
I was informed today that two of the places we shipped too cut the spot minus on .999 by double, and 90% by 2.5x. Its ugly, also was told dont expect payment to process as quickly either, extended times on payment back now. Im a small shop and stuff coming in so fast, I can keep up taking more $ than I have to operate as this level. Probably going to close er down at weeks end to catch up. There are a few local buyers, but their only buying 5 maybe10% of whats coming in door currently.
@jdimmick said:
I was informed today that two of the places we shipped too cut the spot minus on .999 by double, and 90% by 2.5x. Its ugly, also was told dont expect payment to process as quickly either, extended times on payment back now. Im a small shop and stuff coming in so fast, I can keep up taking more $ than I have to operate as this level. Probably going to close er down at weeks end to catch up. There are a few local buyers, but their only buying 5 maybe10% of whats coming in door currently.
You would think some shops would consider a consignment model, to match sellers with buyers. Know there are more sellers hitting the shops but there definitely are buyers too.
@jmski52 said:
If the shops and distributers down temporarily and the flow of .999 stops to let the refiners play catch-up, what do you think happens to the price?
Blitz won't be able to sell his silver and the price continues up. It will drive him crazy.
if they were hurting for new .999, they'd be taking in not-retail-friendly .999 silver - like 5 various dates impaired ase - and be happy with it, or they'd be buying the buff rounds to melt
if they need to catch up with melting, they could stop buying .999 silver. too. tho i guess they are wholesaling out some
coho would have you panic and sell for 50% of spot.
If there is a freeze-up in liquidity, you need some cash but the last thing to do is to liquidate your metals at half price. The rebound would be ferocious.
Q: Are You Printing Money? Bernanke: Not Literally
Comments
People selling at spot minus 25 are morons. God Bless 'Murica
Good for you for trying to keep it real. I hope you aren't a casualty of the new normal.
COPPER is gutter !
So by the time the “great silver Melt volume 2” is done my BU rolls of 1964 p and d quarter rolls and 50 BU rolls of 64 Kennedy halfs might be Hard to find in BU. When common 90% get melted in the tens or hundreds of thousands bags. Then the common ain’t so common anymore.
MIKE B.
Yes. Similar to the 1960's ish moms who tossed their college age children's baseball cards.
COPPER is gutter !
.
I think back to when silver was $40 or less.
What silver coins would sell for the equivalent of $100 per ounce at that time ?
Can they still be bought for that same price (or close to it) now that silver is at $100+ ?
Today, a local coin shop had Morgan dollars for $80 (right at melt). It didn't matter if they were VG or UNC (same price).
When silver was $40, the nicer UNC coins would have sold for close to $75 or $80. If silver were to suddenly drop back to $40 the value of those Morgan Dollars would hold up a lot better than SLV or something like that. In fact, the price for those Morgan Dollars might stay at $75 or thereabouts, even with silver back down at $40.
I needed some Morgan Dollars for an over-strike product, so I bought a couple rolls. I will keep the nicest ones and add them to a tube that I am filling up.
So, yes, I did pay close to $104 for a little bit of silver that I will hang on to for now.
.
90% of your 400+ posts in the last 4 months do little more than insult people on this board. You post about baseball cards for years, then come in as silver starts its run and act like you have been its biggest cheerleader since the 2011 pullback. I have bought and sold on this site and been paid a lot more than $18 by members who are a lot older than me. People make decisions on what to buy and what they will sell based on their current financial/life and not posts by Ralph Kramden shouting 'To The Moon, Alice!"
At current spot prices the ratio of Silver to Gold price is 48:1. That’s the closest it’s been to a traditional 35:1 in a long, long time. I know when I worked in a shop between 2005-16 it was typical for it to be closer to 75:1.
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin
lolz Ive been stacking for years. yawn yawn yawn
But thanks for mentioning my card history. I still own all of it
COPPER is gutter !
You have my condolences. LOLZ
Knowledge is the enemy of fear
He lucked-out by not selling and yet he thinks that he should be getting a premium on the sale, when the market says "no".
I knew it would happen.
I own a complete 1978 Topps Baseball PSA graded set in PSA 9 and higher. All 726 cards. I built it way back in the days of $5 bulk submissions. There are no condolences needed lolzz
So, it wasn't me that brought this up BUT honestly, ending that project left a large void and that's when I eventually turned to stacking silver. I'm still in the card game although at only the vintage unopened pack/box level. But stacking came in on the heels of that graded set build. Which took half a decade to complete 100%
COPPER is gutter !
Finally consolidated my junker silver to move it on. Visited LCS #1 and sold some at 60x face today - several other sellers in the door.
Went on to LCS #2 which was a very busy shop for transactions of all sorts in/out. 1 guy was trading some silver into gold. Some buying a bit of silver. While I was there he had to go in the back to replenish his silver trays.
Ended up buying some better Morgans, and a few unc slabbed Peace dollars at melt.
Anyone buying the low grade junker silver dollars seems to be carrying the risk in this environment. If silver drops, those go right with it. The unc/62-64 slabbed dollars should hold value much better.
I spotted a few 'stale priced' items like a Libertad at 90 and a few silver dollars at 50-60 but he wouldn't let me get them
Worked out just fine. I sold gutter elsewhere at higher prices, multiple times. Bought some Pre33 Au at spot instead of modern 1/10th's at +$40. 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?
Baseball cards? Preparing for the great cardboard shortage perhaps. I'm sure some shop on YouTube that nobody's ever heard of probably has a video about it. LoLZ! THKS!
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?
I have multiple hypotheses but no evidence. One is that it's a mania, yet another bubble, and after decades of financializing and casino-izing everything, it draws in all the speculators because of the tremendous profits that can be made if the bubble is played correctly. In my limited view, if it is a bubble, only a very small percentage of Americans are participating in it so there is the possibility that the bubble can become much, much larger and price jumps can be even greater than what we've seen so far.
To provide a data point that is relevant to this thread, I called a local coin shop on January 20th to ask their buying price for a box of Canadian silver maple leafs coins (500 troy ounces total). They quoted me "$5 back of spot" and spot price was about $95 when I called. I am in a large city in Texas.
Somewhat related, the public hated the Commemorative Arts gold coins the U.S. Mint produced in the 1980s. Even before the past few years' big run-up in gold prices, the one-ounce gold Commemorative Arts coins usually were bought at a discount to spot price (I was seeing 3% - 6% back of spot). Once all the dust clears, the Commemorative Arts coins might have a fair amount of numismatic value.
I’ve agree 100%. When I wanted “cheaper” gold in amounts less than 1 ounce I would buy some foreign gold or $5 gold commemoratives for Spot or just below. It was a good way to pick up some metals for bit less.
MIKE B.
Today , sat 1/24. Dealer friend in Raleigh called ,me at 9:30 said line was out the door, with folks selling . I told him on phone while in car I hadnt had any calls this am, so I wasnt expecting same (i dont open till 11am on sat), then 11 am hits, blam , folks pouring in to sell like no tomorrow for a good solid hour & 1/2. then it settles down. I did actually have a few newbie buyers who bought about 25-30 oz total, course no where near what was taken in.
One guy that stopped in to take advantage of my spot minus 2.00 selling on generic rounds, told me he went to one shop this am, dealer was buying at -15.00, but selling at 10 over. on generic. (some folks are just pure ruthless)
de, e, he, or qe ? graded or not?
Don't know how many here look at Whatnot but man oh man are people buying silver on that platform. Every day and night.
COPPER is gutter !
Baseball Cards...
I knew a teenager who was at a park sale and found one of those Styrofoam coolers with older baseball Cards for $50.
10 years later he started selling the cards and sold over $50k in ungraded Cardboard.
It doesn't make much sense in this forum to talk CARDBOARD but it's undeniable that it acts just like SILVER & GOLD in that hobby when it's high-end material.
COPPER is gutter !
Negative card commentators may want to check out the prices of 1986 Fleer Jordan rookie card,anything Mickey Mantle, and anything of Shohei Ohtani. Just to name a few.
2 he and 1 qe. All 3 slabbed. The qe right off our very forum actually. 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?
Have 20 oz of 925 to sell for a buddy. Called two shops - one was 50% of melt and the other was 59%. Was told refiners are 60 days out and will not pay until it is processed. Decided to wait until the refinery situation susses itself out. Spot can drop quite a bit and still be ahead once the buy price normalizes.
Yeah, what a difference a week makes. 3 shops in Pittsburgh today, 1 I have dealt with before and the other 2 were my first time in. I was only looking to move fresh tubes of ASEs:
Shop 1: Was offered $87 when spot was $107. $20 haircut lol
Shop 2: Offered $80 when spot was around $105 Sold here before about a month ago, Maples, Brittanias etc.
Shop 3: Offered $80 again when spot was around $107. Asked hypothetically what they would pay for Platinum Eagles, spot -20%. Asked if they were buying gold, said not really but would buy AGEs. Wouldn't quote me a price. Asked if they had any gold for sale, nope. Became offended when I wouldn't sell the ASEs at $80. 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?
Jit.
Suddenly there are only buyers and no sellers and industry has been running with about a three week supply in the pipeline. This can't change rapidly because the human race lacks the capacity to refine it as fast as the growing demand.
But there's enough silver to last for at least ten years but it's not available in this market. Much of it isn't even mined yet and some will have been recycled by then.
People just need to stay calm. Nobody needs to get hurt in this transition except the shorts.
Name the shops or you are #shakespeare lolzz
COPPER is gutter !
>
I wonder what they were selling fresh tubes of ASEs for.
@blitzdude said:
I was only looking to move fresh tubes of ASEs:
Shop 1: Was offered $87 when spot was $107. $20 haircut lol
Shop 2: Offered $80 when spot was around $105 Sold here before about a month ago, Maples, Brittanias etc.
Shop 3: Offered $80 again when spot was around $107.
Cool your jets, big fella. Wait it out. You can thank me later.
I knew it would happen.
dunno. things are getting worse for us, as refiners are now very overloaded again. i'm thinking this gets much worse before it gets better
and now gold is being affected
@MsMorrisine said:
dunno. things are getting worse for us, as refiners are now very overloaded again. i'm thinking this gets much worse before it gets better
and now gold is being affected
All it's going to do is to make the buyers more anxious in the long run, especially the shorts who still need to buy.
I knew it would happen.
Dang that's brutal, coin shops crossing into pawnshop territory.
I get it Volitility and All but might be time to hold.
I'm moving 14 ounce for someone tomorrow morning at $102.
Deal is for 14 silver Libertads that was locked in last Friday.
The rest I'm going to sit on and ride it out...One way or another.
It's easy to do, it's not my silver or my paper.
I was informed today that two of the places we shipped too cut the spot minus on .999 by double, and 90% by 2.5x. Its ugly, also was told dont expect payment to process as quickly either, extended times on payment back now. Im a small shop and stuff coming in so fast, I can keep up taking more $ than I have to operate as this level. Probably going to close er down at weeks end to catch up. There are a few local buyers, but their only buying 5 maybe10% of whats coming in door currently.
Sad state of affairs here in the USA when it comes to smelting capacity. SAD
COPPER is gutter !
At the peak of the 1980 mania, many dealers were paying less than 75% of melt for 90% junk silver. Some were also selling at considerably below spot.
It would be interesting to see the current spread between bid and ask prices.
thanks for the continued updates
didn't see any of this coming
Some did.
Knowledge is the enemy of fear
who?
Hint....threads about counter-party risk.
Knowledge is the enemy of fear
who?
Lol
Knowledge is the enemy of fear
the fact you can't say it but, instead, dance around the topic says a lot about you and your presence on here
If the shops and distributers down temporarily and the flow of .999 stops to let the refiners play catch-up, what do you think happens to the price?
Blitz won't be able to sell his silver and the price continues up. It will drive him crazy.
Patience, grasshopper. Patience.
I knew it would happen.
Well, you know who, so why dont you say it then?
And they you go...Mr Stop it with the personal attacks guy.
Lol
I love this place.
Knowledge is the enemy of fear
You would think some shops would consider a consignment model, to match sellers with buyers. Know there are more sellers hitting the shops but there definitely are buyers too.
He who knows he has enough is rich.
if they were hurting for new .999, they'd be taking in not-retail-friendly .999 silver - like 5 various dates impaired ase - and be happy with it, or they'd be buying the buff rounds to melt
if they need to catch up with melting, they could stop buying .999 silver. too. tho i guess they are wholesaling out some
Ha !
You are almost the last person on this forum to ever foresee $100+ silver.
.
coho would have you panic and sell for 50% of spot.
If there is a freeze-up in liquidity, you need some cash but the last thing to do is to liquidate your metals at half price. The rebound would be ferocious.
I knew it would happen.