90% buying bargins may start to appear.

[Ardent Listener]

If the price of silver continues this steep climb we may start to see buying bargains or wide spreads between the price of 90% "junk" silver in relationship to silver's spot price. I'm hearing that dealers are pulling a lot of it in now but local buyers aren't keeping up. They are shipping it out to refiners, but the refiners are having a hard time melting all of it. If this keeps up then 90% buying bargains may present themselves over .999 silver.

[fb101]

Thanks for that heads up.

[Country]

That's what happened in 1980 as the dealers got swamped; discounts for selling SILVER went to spot-30%. However, that was because the general public was dumping their 90% coins that they had saved out of circulation onto the dealers. IMHO, the public no longer has the 90% SILVER. The current SILVER dumping is by hoarders like us and dealers with accumulations seeking to profit. I think this should be a temporary phenominum, a BUYing opportunity that will not last. If the price of SILVER goes ballastic approaching the $50 high, I think it will be the scared public that will BUY, instead of SELLing this time around, causing the premiums on ALL SILVER to rise because of increased demand. Once the public gets wind that the dollar is going to be toasted by the FED and comes to the realization that money in the bank is NOT SAFE, SILVER (and GOLD) will catch on FIRE as the public finally realizes that they have to have some PMs!!! The current dealer surplus will be wiped out as SILVER becomes scarce, like it did in 2008....

I have noticed that Tulving dropped his 90% BUY from spot-59c to spot-69c for $1000 90% bags sold to him. No change on his SELL price, which was at SILVER spot-19c. However, he has NO 90% bags of quarters or dimes for sale right now. It does seem that there is some softening and slight widening of the spread. I guess we'll have to watch and see what happens.

[beauanderos]

I hope the dealers get swamped with 90% and ship it ALL to the smelters. The more they do that, the faster a scarcity premium will be built into the remaining 90% existing. If existing stock is pouring out of the woodwork at these prices, it will cause an acceleration of value down the road when it disappears and demand builds simultaneously.

[camtender]

.................

[thedude]

Lot's of great junk buys on ebay today. 90% and shipping for under spot.

[beauanderos]

Lot's of great junk buys on ebay today. 90% and shipping for under spot.

If that's the case, it's because, temporarily, the sellers are overwhelming the buying capacity (diluting the demand due to sheer volume) of the public. But who is the loser here? Not the buyer. The seller... rushing to grab a "quick profit at unsustainable silver highs." Silver, and gold, will continue to flow from weak hands to strong hands at every level as it climbs. As each subsequent price level manifests, it will draw out more sellers, but fewer and fewer as time advances... because those who were willing to sell will have none left. Those who truly understand the dynamics and potential life-altering profitability of silver will eventually sell, but not until MUCH higher levels (triple digits)

[rambo_k9]

Lot's of great junk buys on ebay today. 90% and shipping for under spot.

Well in one short week, it seems that folks on Ebay have lost their everloving minds! They are asking ridicolous prices on everything from dimes to dollars. I did good last week but they are goofy this week and the shipping prices are a joke. Anyone notice this as well or does someone have a good deal story from this week, 10/18?

[Lemon Thrower]

the coin dealer they interview on king world news each week says premiums are slowly inching up. interesting that they are going in the opposite direction.

[coppertone]

I do not have enough 90% and am hoping to accumulate some. Hopefully I will have a chance now. If a monetary crisis were to occur should these not carry the greatest premium?? It is a shame they are being melted.

[Dvorak]

Strong hand buyers are running out of FRNs to buy. I know that's the boat I'm in! Still see the occasional 10% under spot deal out there on eBay, but I'm just not able to take advantage. Now at 80-85%, I cannot resist!

[RickS]

Lot's of great junk buys on ebay today. 90% and shipping for under spot.

Well in one short week, it seems that folks on Ebay have lost their everloving minds! They are asking ridicolous prices on everything from dimes to dollars. I did good last week but they are goofy this week and the shipping prices are a joke. Anyone notice this as well or does someone have a good deal story from this week, 10/18?

Agreed - last few days have been crazy - I'll check back there in a week, but I'm not paying the kinds of premiums that they're asking.

[tebam11]

What would somebody pay me for my Morgan Silver dollars right now? They are the common ones, 1921 s and d mint marks. In AU condition. I do not have alot, maybe 100 or so.

[Rodebaugh]

What would somebody pay me for my Morgan Silver dollars right now? They are the common ones, 1921 s and d mint marks. In AU condition. I do not have alot, maybe 100 or so.

Id say at $19 shipped they would sell pretty fast. At $20 you might set on them for a few days or more.

[thedude]

Lot's of great junk buys on ebay today. 90% and shipping for under spot.

Well in one short week, it seems that folks on Ebay have lost their everloving minds! They are asking ridicolous prices on everything from dimes to dollars. I did good last week but they are goofy this week and the shipping prices are a joke. Anyone notice this as well or does someone have a good deal story from this week, 10/18?

Shipping kills a lot of good deals. There are new sellers listing items everyday. Stay positive and you shall find cheap silver.

[abc]

Haven't had any luck myself this past week on ebay. I don't think I won an auction. I did get a great deal on a sportscards trade forum 2- Morgans, 3 Peace, and 4 Franklin Halfs- $85 delivered.

[Metalhead]

I picked up some Morgans and a few Peace Dollars from a local trader today at $17.75 each. I got 12, would have gotten more if I had the $$.

[AGgressive Metal]

I heard the exact opposite - dealer's in my area are having trouble keeping 90% in stock. One guy said he was selling everything that came in in face to face store purchases, as in he hasn't needed to call a wholesaler to buy anything off him. It is flying out the door. I guess it depends on where you are. Cincinnati and Northern Kentucky are well monied (multiple Fortune 500s here), the lines at the gun shows here are out the door whenever they have one, and conservative talk radio is popular - so there are a fair number of folks who are "tuned in" to the threat of inflation and political instability.

[abc]

Got a semi good deal on ebay this morning. Half roll of silver rosies dimes $36.60 delivered. After ebucks and big crumbs rebates it brings it down to $1.40 each. Not to bad IMO. Just a little more to add to the pile. I also reached my silver allowance this week, good thing it resets on monday (payday).

[Lemon Thrower]

starting to see premiums creep up.

am hearing that supply is getting harder to find, even at these elevated prices. if that's not bad enough, when the price starts rising people hold their PMs dearer - they're not willing to sell until they are convinced its stopped rising. so if it starts going up again watch out.

[george454]

Picked up a pretty good haul of Canadian 80% this weekend got it for spot straigt across. The local coin dealer her in my town knows I like the Canadian stuff and he is shifting soley to the .999. He even quoted me a pretty good price on 90% becouse he wants to get rid of it, he can't keep enough .999 stocked, not even the fractional stuff but can't seem to get the 90% to move at all. I just couldn't justify the expence right now with closing cost on my house in the future.

I have seen many of the dealers and pawn shops offering 90% at spot around here though, and a buddy of mine bought $500 worth of 90% for 5% under spot the other day.

[beauanderos]

APMEX is out this morning (temporarily). http://www.apmex.com/Category/982/90_Si ... e_Bag.aspx Still, it's the first time I've seen that in quite some time

[Rodebaugh]

Hummmm....Apmex with no silver 90% in their inventory......were they running a deal or what?

Thanks for posting that Ray. Btw box of tape goes out in the mail today.

[goldsilverpro]

In my experience, there wasn't that much 90% US coin melted in 1979 and 1980. We generally separated if from everything else and sold it as is. It's expensive to refine 90% silver and we made more profit by not refining these coins. At that time, the price for $1000 bags was near spot. However, there were many tons of foreign silver coins melted at that time and there have been many articles written about this causing shortages of these foreign coins.

In the 60s, though, there were many 90% US coins melted, illegally. Since the coins, themselves, were only worth face value and the actual silver value was higher than this, people were enticed to melt and refine them.

[Treetop]

In my experience, there wasn't that much 90% US coin melted in 1979 and 1980. We generally separated if from everything else and sold it as is. It's expensive to refine 90% silver and we made more profit by not refining these coins. At that time, the price for $1000 bags was near spot. However, there were many tons of foreign silver coins melted at that time and there have been many articles written about this causing shortages of these foreign coins.

In the 60s, though, there were many 90% US coins melted, illegally. Since the coins, themselves, were only worth face value and the actual silver value was higher than this, people were enticed to melt and refine them.

interesting. I rarely buy 40 percent because I heard it was harder to refine. I never heard this about 90 percent. have any idea what kind of cost it is? I generally buy 90 percent over .999, because I rarely find .999 at or below spot...... I might have to change that if 90 percent is to much more to refine.