LCS today......proofs

[agmoose]

Didn't have much to spend, but have had good luck getting proofs mixed in with junk 90% lately so I figured I'd check.

Picked up $5.25 face of ATB proof quarters (loose) at 23x face. Looks like someone busted them from the cases and cashed them in. They were all 2011 and 2012. He had no dimes and only one slick Barber half.

He relayed very there very few sellers this week, lots of buyers.

[Know Common Cents]

I'm far from ready for the nursing home and a wheelchair, but what you say reminds me of the initial rumblings of the silver boom of the early 1980s.

I spent a lot of time hanging around my LCS during those times. Coins of an unimaginable high-end nature were sold over the counter, dumped into bags and whisked off to the smelters or salivating buyers somewhere else.

There were BU rolls of Walker halves as well as Peace or Morgan dollars. Sterling silver bowls, utensils, serving trays, religious artifacts, medals and antique jewelry were also fair game. It was panic sellling at its best or worst depending on whether you were in front or in back of the counter.

As the economy continues to fracture, more silver and gold in all forms will find its way to the marketplace. Silver 90% proofs in with the junk silver are just the beginning again. From hundreds of miles away, the first wave of a Tsunami is very small. None of us will have to wait too long to see the full force of what's to come our way.

[Robarons]

I hope someone busted them open and not the LCS. These still have decent premiums over melt- even busted open.

Havent seen that here- I think proof silver was going at to near melt in the $35-40 range, but not in the $25-30 range. But if silver gets high enough again everything will be melted down

[agmoose]

I am pretty sure someone brought them in busted out as he still has proof sets in the box on the shelf with their normal markup. Over the past few months, I have been able to cherry pick proof and BU stuff from the 90% bin at least once a month. I stop in only once a week because he closes at 4pm, so I have to adjust my schedule to get there.

[agmoose]

I was a day late this time. LCS owner stated that the same guy brought in $100 face of state and ATB Prof quarters on Wednesday. There were only 11 left today, but I took them all at 22x face. Picked up some halves at 22x and five ASE's at $31.50 each.

Gave him my phone number in case this guy brings in more proofs.

[93_Confirmed]

My LCS had 5 proof ATB quarters for the same price as the junk ($22) so I grabbed them. Hoping I can eventually put a roll together.