90% junk premiums are crazy high

[Investin Cents]

So that Apmex price is about 28X face value.

I just paid 26X face at a local dealer.

I came here to see if I got a good deal and apparently I did.

Thanks everyone!

[Cu Penny Hoarder]

So that Apmex price is about 28X face value.

I just paid 26X face at a local dealer.

I came here to see if I got a good deal and apparently I did.

Thanks everyone!

Bought a truck load in March 2020 at around $12 just before premiums started to sky... $0.49 cents over spot. Quite possibly the last great buying opportunity of my lifetime.

[JerrySpringer]

Bought a truck load in March 2020 at around $12 just before premiums started to sky... $0.49 cents over spot. Quite possibly the last great buying opportunity of my lifetime.

I was not in the right place and time to buy back then. Were many online dealers selling close to spot back then?

[Cu Penny Hoarder]

Bought a truck load in March 2020 at around $12 just before premiums started to sky... $0.49 cents over spot. Quite possibly the last great buying opportunity of my lifetime.

I was not in the right place and time to buy back then. Were many online dealers selling close to spot back then?

Don't know because I only dealt with Apmex. Took half my market profits (covid crash shorting) from that month and I practically cleaned them out of $100FV bags, which fell below $1000 each for a very short time. Pretty sure it was a Sunday night and I guess no one was there to adjust the premiums while the Ag price was getting smashed. The premiums skied over the next couple hours. I made a special post here and told everyone to hurry up and buy that dip... I don't know if anyone here was able to catch it. I keep a live Ag futures price chart up ALL the time just in case. When Ag drops that fast and hard, you gotta be quick before the dealers raise the premiums. I did the same thing in 2008.

[Histman]

I just got a $100 face for X $22.50 face from my LCS. That is a good number from what I am seeing, but it pained me to do it. I won't be buying anymore anytime soon until the premiums go down and the cost is more reasonable. I pick up a lot here and there from eBay, here, and other online sources when they are reasonable. I wish I had the money now back when silver was $12.00 an ounce. I would have cleaned up.

[Cu Penny Hoarder]

I just got a $100 face for X $22.50 face from my LCS. That is a good number from what I am seeing, but it pained me to do it. I won't be buying anymore anytime soon until the premiums go down and the cost is more reasonable. I pick up a lot here and there from eBay, here, and other online sources when they are reasonable. I wish I had the money now back when silver was $12.00 an ounce. I would have cleaned up.

90% premiums have dropped a bit over the last 2 weeks, but I don't think premiums will come back to where they were before the plandemic hit... not in my lifetime anyway. Average premium on 90% right now is $10-12 above spot.

The main reasons ppl favor 90% coins are:
1. There's only a finite supply out there.
2. They're fractional.
3. They're US government issued (same as ASEs).

Anyone who wants to buy 90% or ASEs now is going to have to pay up in order to get them.

[Lemon Thrower]

CU, I completely agree with your 3 reasons but I would have listed them in reverse order.

I think what is surprising is that its taken folks this long to realize that 90% is arguably superior to ASE's. I mean, I've been buying ASE's since 2006 and except for a brief period in 2011 I think 90% has always been a much better value relative to ASE's.

[Cu Penny Hoarder]

CU, I completely agree with your 3 reasons but I would have listed them in reverse order.

I think what is surprising is that its taken folks this long to realize that 90% is arguably superior to ASE's. I mean, I've been buying ASE's since 2006 and except for a brief period in 2011 I think 90% has always been a much better value relative to ASE's.

Absolutely. Been buying them since 1985.

[Histman]

I just got a $100 face for X $22.50 face from my LCS. That is a good number from what I am seeing, but it pained me to do it. I won't be buying anymore anytime soon until the premiums go down and the cost is more reasonable. I pick up a lot here and there from eBay, here, and other online sources when they are reasonable. I wish I had the money now back when silver was $12.00 an ounce. I would have cleaned up.

90% premiums have dropped a bit over the last 2 weeks, but I don't think premiums will come back to where they were before the plandemic hit... not in my lifetime anyway. Average premium on 90% right now is $10-12 above spot.

The main reasons ppl favor 90% coins are:
1. There's only a finite supply out there.
2. They're fractional.
3. They're US government issued (same as ASEs).

Anyone who wants to buy 90% or ASEs now is going to have to pay up in order to get them.

Yep, other than buying the Silver Eagle each year for the collection, I have always bought 90%, 40%, 35%, and loose rounds and poors. I've been with 90% for years for most of the reasons you listed. I also am thinking ahead. I'm not a prepper, but just in case the world goes to "heck" I'd like to have the silver for transactions. I'll keep buying the 90%, even with premiums, but only when I get a deal. My LCS is at $6.00 over spot right now. A month ago he was at $2.50.

[Cu Penny Hoarder]

Yep, other than buying the Silver Eagle each year for the collection, I have always bought 90%, 40%, 35%, and loose rounds and poors. I've been with 90% for years for most of the reasons you listed. I also am thinking ahead. I'm not a prepper, but just in case the world goes to "heck" I'd like to have the silver for transactions. I'll keep buying the 90%, even with premiums, but only when I get a deal. My LCS is at $6.00 over spot right now. A month ago he was at $2.50.

Decent price, considering what others are selling them for.

A month ago it was $2.50 over?... I would've bought everything he had at that price.

[Lemon Thrower]

SD Bullion is buying at $6 over spot. works out to 31.3X

[Country]

SD Bullion is buying at $6 over spot. works out to 31.3X

$6 over spot is $31.39. At $31.39 it works out to 22.4X.

What's APMEX paying right now ?

[Lemon Thrower]

I stand corrected, thank you

[cwgii]

Pawn shops yesterday.

A single Washington quarter $10

A bag of dimes, $5 each.

A single Ben Franklin, $18

Yikes

[Cu Penny Hoarder]

Pawn shops yesterday.

A single Washington quarter $10

A bag of dimes, $5 each.

A single Ben Franklin, $18

Yikes

I've noticed that most pawn shops are a notorious rip-off when it comes to gold/silver coins.

[wheeler_dealer]

Haven't been to the coin shop in quite a while. Did catch a coin show with my nephew recently we grabbed a nice Morgan for $30.00. I have been slipping.

[Silver4face]

Pawn shops yesterday.

A single Washington quarter $10

A bag of dimes, $5 each.

A single Ben Franklin, $18

Yikes

I've noticed that most pawn shops are a notorious rip-off when it comes to gold/silver coins.

True. But I've seen rip-off prices on coins that are ZERO PERCENT gold/silver.

[Cu Penny Hoarder]

Premiums have been gradually heading lower over the last 2 months (you can thank Andy Schectman for his contrary FOMO/hype vids).

Apmex and SD now charging $9.00 over spot. Still high, but much better than $15 over spot.

[wheeler_dealer]

Testing the market with some recent purchases.
Listed some common Franklin's on Craigslist at $15.00 each.
Received counter offer of $12.00 each
Not bad as my all in was $10.00 each.
Got some Mercury dimes I may test on Craigslist at $3.00 each or best offer.
Anyone willing to share thoughts or current purchase or sales prices? Thanks

[stas3000]

Testing the market with some recent purchases.
Listed some common Franklin's on Craigslist at $15.00 each.
Received counter offer of $12.00 each
Not bad as my all in was $10.00 each.
Got some Mercury dimes I may test on Craigslist at $3.00 each or best offer.
Anyone willing to share thoughts or current purchase or sales prices? Thanks

That was a good offer on the Franklins. Assuming the buyer is real. With CL it's no guarantee.

This thread is a good source of what top dealers charge on relatively large (for retail) lots of US pre-1965 90% silver coinage. APMEX right now (11 am Eastern on 6/20/23 ): 23.2x face for $100 face. URL: https://www.apmex.com/product/27/90-sil ... -value-bag. Small lots go for 24x, 25x, etc face but larger ones are 23x or so at the moment. APMEX offerings: https://www.apmex.com/category/25830/90 ... s-bags-all.

Some stores charge quite a bit more. (There were mentions of just that in this exact thread!) Those that want to move inventory fast offer at 23x, 22x or 21x face, I suppose.

[wheeler_dealer]

Local demand seems strong and I can undercut 90% of the resellers locally and still get fair market prices.
Will be posting some here soon.
I have some dimes coming up I bought from Ray (Beaunaderos) decade ago. Never touched by me -I'm sure Ray probably checked them pre-sale but the new owner might get lucky. These were before mercury dimes were in demand.
Anyone willing to send me a tutorial for how to take and post pictures with my Android phone. P.M. if easier.
Thanks

[Cu Penny Hoarder]

Testing the market with some recent purchases.
Listed some common Franklin's on Craigslist at $15.00 each.
Received counter offer of $12.00 each
Not bad as my all in was $10.00 each.
Got some Mercury dimes I may test on Craigslist at $3.00 each or best offer.
Anyone willing to share thoughts or current purchase or sales prices? Thanks

Right now there are more sellers than buyers. This will escalate.

Ag is going sub $20. After that even more people will throw in the towel.

MUCH better deals coming.

[NDFarmer]

Ag is going sub $20. After that even more people will throw in the towel.

MUCH better deals coming.

I hope you are right. I would love to see $15 silver or even lower. It would give me the opportunity to stack more ounces. Although the premium would probably be at least $10 an ounce so silver will still cost $25

[texcollex]

SD Bullion is selling at $6.49 over spot right now. Wish I had cash to grab some.

[Cu Penny Hoarder]

SD Bullion is selling at $6.49 over spot right now. Wish I had cash to grab some.

Save your cash. I have a feeling a better buying opportunity is coming... sub $20 soon. That will shake out a lot of weak hands.

I always back up the truck on PMs when bullion dealers tell me no one is buying and the stock market (and/or crypto) is all the rage.