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Re: 90% junk premiums are crazy high

PostPosted: Mon Mar 20, 2023 11:13 am
by 68Camaro
The small portions of silver (whether government coin or independent rounds or small bars) have a supply restriction, in that if demand goes up quickly, the supply of the specialized blanks rolled precisely and stamped on tuned machines, which the coin and rounds are minted from, cannot be increased as quickly as demand. That demand, when there is no ability to satisfy it, results in short-term price premiums above spot. It's worse with 90% because there is no more of it made.

Cast bars in 5 or 10 or 100 oz will see much lower premiums; typically smaller as the size goes up (if that isn't well known or obvious). That is because companies that are casting bars have a much greater ability to expand supply to meet demand. London good delivery bars at 1000 oz nominal for immediate physical delivery are what define the actual price of the metal itself. (Don't pay so much attention to future delivery prices, that market is corrupted.) When you see immediate delivery prices of 1000 oz bars going up, the spot price should be tracking that. The rest of the price differential is just short term inelastic supply demand for the specific form, which will eventually sort itself out and trend to about $1 or less.

Re: 90% junk premiums are crazy high

PostPosted: Wed Mar 22, 2023 12:56 pm
by Cu Penny Hoarder
Ampex 90%, now $14 over spot. :o

Pretty sure this is the highest premium on 90% I've ever seen. Even beats 2008 and 2010/11.

Re: 90% junk premiums are crazy high

PostPosted: Wed Mar 22, 2023 4:54 pm
by Lemon Thrower
Cu Penny Hoarder wrote:Ampex 90%, now $14 over spot. :o

Pretty sure this is the highest premium on 90% I've ever seen. Even beats 2008 and 2010/11.


That's 26.4X!

Re: 90% junk premiums are crazy high

PostPosted: Thu Mar 23, 2023 6:45 am
by Cu Penny Hoarder
Lemon Thrower wrote:
Cu Penny Hoarder wrote:Ampex 90%, now $14 over spot. :o

Pretty sure this is the highest premium on 90% I've ever seen. Even beats 2008 and 2010/11.


That's 26.4X!



Now $15 over spot! :shock:

All online bullion dealers are sold out of 90%.

Re: 90% junk premiums are crazy high

PostPosted: Thu Mar 23, 2023 7:34 am
by franklin
Apmex has a roll of avg circ Mercs for only $142. Melt on full weight coins is $83.

Re: 90% junk premiums are crazy high

PostPosted: Thu Mar 23, 2023 9:26 am
by Silver4face
Cu Penny Hoarder wrote:
Lemon Thrower wrote:
Cu Penny Hoarder wrote:Ampex 90%, now $14 over spot. :o

Pretty sure this is the highest premium on 90% I've ever seen. Even beats 2008 and 2010/11.


That's 26.4X!



Now $15 over spot! :shock:

All online bullion dealers are sold out of 90%.


Don't some of these online dealers have 40 percent? Or better yet, 80 percent (Canadian silver)? If so, what are the premiums for those?

Re: 90% junk premiums are crazy high

PostPosted: Thu Mar 23, 2023 11:11 am
by Cu Penny Hoarder
Silver4face wrote:Don't some of these online dealers have 40 percent? Or better yet, 80 percent (Canadian silver)? If so, what are the premiums for those?


I don't normally keep track of Canadian and 40% premiums, but I just checked... $3 over spot for 40% JFK's.

https://www.apmex.com/product/47/40-silver-coins-100-face-value-bag-avg-circ

Re: 90% junk premiums are crazy high

PostPosted: Thu Mar 23, 2023 1:07 pm
by 68Camaro
Cu Penny Hoarder wrote:
Silver4face wrote:Don't some of these online dealers have 40 percent? Or better yet, 80 percent (Canadian silver)? If so, what are the premiums for those?


I don't normally keep track of Canadian and 40% premiums, but I just checked... $3 over spot for 40% JFK's.

https://www.apmex.com/product/47/40-silver-coins-100-face-value-bag-avg-circ


Just to be clear, that's $3 per toz over spot. That's a good return for an item that usually sells at a discount.

Re: 90% junk premiums are crazy high

PostPosted: Thu Mar 23, 2023 1:44 pm
by Lemon Thrower
buy prices going up much more slowly lol

I figure they are selling 90% at 26.6X right now. They offered to buy my mercury dimes at 17.15X. Nice work if you can get it.

Re: 90% junk premiums are crazy high

PostPosted: Thu Mar 23, 2023 3:10 pm
by Cu Penny Hoarder

Re: 90% junk premiums are crazy high

PostPosted: Thu Mar 23, 2023 3:16 pm
by Cu Penny Hoarder
Lemon Thrower wrote:buy prices going up much more slowly lol

I figure they are selling 90% at 26.6X right now. They offered to buy my mercury dimes at 17.15X. Nice work if you can get it.


I have more than a few dime junk bags. 20 years ago I never separated my Rosy's from my Mercs, but after I saw the premiums that Mercs fetch... :mrgreen:

I still have some bags that are combined of Rosy's and Mercs. I better get to it.

Re: 90% junk premiums are crazy high

PostPosted: Fri Mar 24, 2023 10:06 am
by wheeler_dealer
Just looked at Cull Morgan and Peace dollars Incredible to see these at $30.00 plus

Re: 90% junk premiums are crazy high

PostPosted: Fri Mar 24, 2023 11:50 am
by Lemon Thrower
wheeler_dealer wrote:Just looked at Cull Morgan and Peace dollars Incredible to see these at $30.00 plus


oh they've been that high for a couple of years. Not a great deal imho since better quality coins are just a few bucks more.

Re: 90% junk premiums are crazy high

PostPosted: Thu Apr 06, 2023 6:49 pm
by Cu Penny Hoarder
Ampex 90% just moved up to $17.00 over spot! :shock:

https://www.apmex.com/product/27/90-silver-coins-100-face-value-bag

Re: 90% junk premiums are crazy high

PostPosted: Fri Apr 07, 2023 7:57 am
by Robarons
Been following this for a while and just surprised these online retailers price 90% this way.

It had been 18.5x locally for the past couple weeks and now its 19.5x in any supply for dimes/quarters here.

But I even see a delay so someone has to be buying these things.

Re: 90% junk premiums are crazy high

PostPosted: Fri Apr 07, 2023 8:10 am
by franklin
I just recently began to peer in on the Kitco silver forum and there are a lot of new-to-silver followers who are getting riled up about the dollar re-valuation rumor and being told they had better get the 90% now, price be damned. Same with the local forum.

Re: 90% junk premiums are crazy high

PostPosted: Fri Apr 07, 2023 10:16 am
by TXSTARFIRE
Dollar re-valuation rumor?

Re: 90% junk premiums are crazy high

PostPosted: Fri Apr 07, 2023 10:41 am
by Cu Penny Hoarder
franklin wrote:I just recently began to peer in on the Kitco silver forum and there are a lot of new-to-silver followers who are getting riled up about the dollar re-valuation rumor and being told they had better get the 90% now, price be damned. Same with the local forum.


If they do buy now they'll be paying the highest premium I've ever seen on 90%.

Gotta accumulate this stuff when it's calm, way before the FOMO sets in.

Re: 90% junk premiums are crazy high

PostPosted: Sat Apr 08, 2023 7:19 am
by Cu Penny Hoarder
Apmex: "Currently out of stock"

JM: 90% generic is "Out of stock"

SD: "Expected ship date on May 6th"... 1 month away.


Wow.

Same thing going to happen with ammo someday, so stock up NOW.

Re: 90% junk premiums are crazy high

PostPosted: Sun Apr 09, 2023 6:35 am
by Lemon Thrower
Cu Penny Hoarder wrote:Ampex 90% just moved up to $17.00 over spot! :shock:

https://www.apmex.com/product/27/90-silver-coins-100-face-value-bag


At $25 spot + $17 premium, that's 30X Face!!!! Its cheaper to buy cull silver dollars

Re: 90% junk premiums are crazy high

PostPosted: Sun Apr 09, 2023 9:45 pm
by stas3000
Lemon Thrower wrote:
Cu Penny Hoarder wrote:Ampex 90% just moved up to $17.00 over spot! :shock:

https://www.apmex.com/product/27/90-silver-coins-100-face-value-bag


At $25 spot + $17 premium, that's 30X Face!!!! Its cheaper to buy cull silver dollars

Maybe so... but not via APMEX:
https://www.apmex.com/product/181990/19 ... ull-random

I'm pretty sure that no coin dealer is offering cull silver dollars for under $30 each at the moment. Prices of ASE's, US 90% silver are something else right now!

Re: 90% junk premiums are crazy high

PostPosted: Mon Apr 10, 2023 7:03 am
by Cu Penny Hoarder
stas3000 wrote:I'm pretty sure that no coin dealer is offering cull silver dollars for under $30 each at the moment. Prices of ASE's, US 90% silver are something else right now!


The highest premiums ever.

I have bags and bags of 90%, but wish I had more... a finite supply.

Re: 90% junk premiums are crazy high

PostPosted: Mon Apr 10, 2023 4:00 pm
by wheeler_dealer
Unprecedented demand!!

Re: 90% junk premiums are crazy high

PostPosted: Wed Apr 12, 2023 9:43 am
by Doctor Steuss
stas3000 wrote:
Lemon Thrower wrote:
Cu Penny Hoarder wrote:Ampex 90% just moved up to $17.00 over spot! :shock:

https://www.apmex.com/product/27/90-silver-coins-100-face-value-bag


At $25 spot + $17 premium, that's 30X Face!!!! Its cheaper to buy cull silver dollars

Maybe so... but not via APMEX:
https://www.apmex.com/product/181990/19 ... ull-random

I'm pretty sure that no coin dealer is offering cull silver dollars for under $30 each at the moment. Prices of ASE's, US 90% silver are something else right now!

Good gravy, at the top of APMEX right now: "Due to increased volume current minimum purchase amount is $5,000."

Re: 90% junk premiums are crazy high

PostPosted: Wed Apr 12, 2023 10:01 am
by Cu Penny Hoarder
Doctor Steuss wrote:Good gravy, at the top of APMEX right now: "Due to increased volume current minimum purchase amount is $5,000."


$5000? It's says $250 now...

https://www.apmex.com/