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After 44 years of dealing in silver (buying, stacking, selling, trading) I finally experienced a "first" when this Tuesday morning I rushed down to the local coin shop and the owner told me for the time being he is no longer selling any gold or silver; he is however a buyer Amazing times......

pennypicker wrote:After 44 years of dealing in silver (buying, stacking, selling, trading) I finally experienced a "first" when this Tuesday morning I rushed down to the local coin shop and the owner told me for the time being he is no longer selling any gold or silver; he is however a buyer Amazing times......

Makes sense... the price he bought all or most his inventory at is now much lower. Can't sell at a loss.

I experienced this with my LCS in 2008.

Yep - he's a smart guy.

Why think about tapping into the remaining US90% or other silver at your LCS?

I can't imagine anyone selling their US90% silver at a loss just to have made a sale. Like most of us, we're not prone to sell PMs at a loss or try to be a charitable organization.

Cu Penny Hoarder wrote:

pennypicker wrote:After 44 years of dealing in silver (buying, stacking, selling, trading) I finally experienced a "first" when this Tuesday morning I rushed down to the local coin shop and the owner told me for the time being he is no longer selling any gold or silver; he is however a buyer Amazing times......

Makes sense... the price he bought all or most his inventory at is now much lower. Can't sell at a loss.

I experienced this with my LCS in 2008.

Agree that the stuff is sitting in the back room waiting for the price to go back up. I too experienced this in 2008.