Silver Spot question????

Comments

• rgCoinGuy Posts: 7,478 ✭

  October 18, 2008 12:41AM

  Depends on the dealer, and what you have. You can buy silver Shot for about 50 cents over spot. A lot of dealers are offering 2-3 dollars over spot for most silver bars and rounds, and in some cases a lot more, depends on the demand they have. If your guy offers you back of spot right now, it is probably time to find a new guy.

  Quid pro quo. Yes or no?

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• CoinOnTheCob Posts: 712

  October 18, 2008 3:37AM

  
  
  << <i>Saturday October 18, 2008 10:35 AM (NEW!)
  (W)hy would anybody be expected to pay a premium over silver spot for coins here or in any other medium? >>
  
  
  That's what is happening all around. I was talking with Tassa and she said that it is very hard to buy silver at spot even though the price is falling. I wish I'd have talked to her sooner because, last month, I pulled a bunch of junk silver out of the safe. According to Coinflation.com, the silver was worth $1,076.00. I listed it on Craigslist for $1,000.00 even. I had an immediate response asking to meet right away.
  
  I wish I’d have looked into it a little better. In a nutshell, why are people paying over spot? Because that’s the way it is industry wide. Buyers expect to pay a premium and sellers surely expect it.
  

  

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• 66Tbird Posts: 2,858 ✭✭✭

  October 18, 2008 4:05AM

  
  
  << <i>Depends on the dealer, and what you have. You can buy silver Shot for about 50 cents over spot. A lot of dealers are offering 2-3 dollars over spot for most silver bars and rounds, and in some cases a lot more, depends on the demand they have. If your guy offers you back of spot right now, it is probably time to find a new guy. >>
  
  
  
  
  It's time for me to find a new guy. He didn't have any for sale but offered 10% below spot for what I had.

  Need something designed and 3D printed?

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• abitofthisabitofthat Posts: 2,142 ✭✭✭

  October 18, 2008 4:14AM

  I would say that it depends on what you mean by junk. Anything that is re-salable will probably go for a premium. But not stuff that people do not want to buy. If you are selling quality bars and rounds, they should go for a premium and be resold quickly. If you are selling bent sterling forks - i.e. true junk - then there is really no resale market and they will be packed off to a refiner. This should not get a premium over spot in most cases.

  merse

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• derryb Posts: 37,969 ✭✭✭✭✭

  October 18, 2008 4:17AM

  For the current true market value, just do an ebay search of completed items. I wouldn't take anything less than what it is selling for on ebay.

  If you understand what is coming, then you can duck. If not, then you get sucker-punched. - Martin Armstrong

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• CoinOnTheCob Posts: 712

  October 18, 2008 5:46AM

  I have about 33 bucks worth of silver coins bid up on eBay to $51.00. It's all AU/BU and mint set odds and ends.
  
  Silver coins that have no numismatic value I call junk. That may not be a colloquialism that everyone uses though.

  

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