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  2. Week of 4/22/16 Closing prices & Chg Over Last Wk---- Gold $1230.00 DOWN 4.60-- Silver $16.90 UP 0.59-- Oil $43.73 UP 2.02--- USD $95.08 UP 40 tics-- Based on near term futures contract--- At JMB Current price AGE $1290.99 (1), SAE $20.22 (20)
  3. Added Heartland Precious Metals out of OK and LA to the map, Added Texas Precious Metals, and Added Provident Metals.

Junk silver coins premium

Discussion in 'Gold Silver (All things Metal)' started by savewithsilver, May 11, 2013.



  1. savewithsilver

    savewithsilver New Member

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    Hey Guys,

    I have been buying junk silver coins for years but can't seem to find any for sale. This tells me the public isn't selling the coins at all!! The premium for these coins has really become WAY to high! I use this calculator to determine the melt value of my current coins http://www.coinvalues.com/silver (it's the best I have found). Does anyone know of dealers with junk silver in stock with a reasonable premium? Dealers seem to be charging $4.00 over melt for junk bags, this is just WAY to much in my opinion. Would like to hear your thoughts.
     
  2. Gcubed

    Gcubed Banned

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    The market is not in agreement with your opinion. Oh well...
     
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  3. savewithsilver

    savewithsilver New Member

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    What are you talking about? If my opinion is wrong please tell me where to buy junk silver for low premiums.
     
  4. Gcubed

    Gcubed Banned

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    The market determines the premium. You can either accept or reject it. Can't see a way of you changing it. Kay Sara Sara.

    Try Tulving.com or Apmex.com ;)
     
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  5. newmisty

    newmisty Duppy Conqueror Midas Member

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    Maybe you should drink sugar free kool-aid.
     
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  6. glockngold

    glockngold Gold Member Gold Chaser

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    Dude,
    I have some junk that I will sell to you at NO premium!

    That's right I will sell it to you for the same price I paid for it... that would be about 28/1 or so.
     
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  7. msolorio3

    msolorio3 Seeker Seeker

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    I would give Provident a try. They have a bag of $100 FV for $1995.92

    Although, I will say this. I went by the LCS on Friday and the gentleman told me that I would be better off buying 10 ounce silver bars because the premiums on 90% silver are just too high right now.
     
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  8. savewithsilver

    savewithsilver New Member

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    Do you have a coherent thought you would like to share? It seems to me if dealers don't have the coins in stock, and they only get them from the public, the public isn't selling. Please enlighten me.
     
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  9. newmisty

    newmisty Duppy Conqueror Midas Member

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    You have a search function? Try Tulving yet? Plenty of junk always changing hands. Don't go to extremes.
     
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  10. Hi Ho Silver

    Hi Ho Silver Seeker Seeker

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    Welcome to SARCASM is Money!!! Enjoy your stay!
     
  11. stas3000

    stas3000 Seeker Seeker

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    My observation is that premium over spot price on junk silver is higher now than it was a few months ago. Much higher in most cases. More than likely thicker spreads too (buying vs selling prices). Is the premium way too high? Could be. I am not sure. It's all relative. It possible that people in your area would rather not sell now but buyers are abundant. Sellers could be waiting for prices to rise which they might. Might fall too. No one really knows for sure. As was mentioned earlier, market is what it is. There are some dealers that usually have some junk silver for sale though as was posted earlier. In my experience and from what I've read, Tulving, APMEX, Silvertowne, Provident Metals are pretty reliable dealers overall. More than likely premium will be high there too due to current strong demand. Hope this helps a little.
     
  12. curmudgeonista

    curmudgeonista Banned

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    The rent is too damn high, too!

    But, I don't think the landlord is going to offer it to me any cheaper if someone else is willing to pay higher.

    Gcubed is right. It's the market. He's not the type to try to explain too much when he figures it's self-explanatory, though. I'm betting he doesn't mean you should necessarily rush on out to pay it... unless you just gotta' have some. But, it is what it is, and bitchin' and moanin' isn't going to change it.
     
  13. Fiat Metaler

    Fiat Metaler Gold Member Gold Chaser

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    there have been several threads on this in the last few months, the last few weeks especially.

    tulving right now has halves at 3.49 over, which is about as good as you will do with any dealer.

    the premium on everything is high, and for some reason the premium on 90 has not only increased in absolute terms but relative to everything else - I was able to trade 90 straight up for Maple Leafs not that long ago. Or, you can trade your 90 for increased generic ounces, which is also wise imho.
     
  14. smooth

    smooth Gold Member Gold Chaser

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    Must you buy junk silver? or is it just the silver you seek?? Premiums tend to drift for different products. If it were me, I would just buy in a different form for now if you like the current spot price. And if you really want junk, maybe try to trade for it later (private trades can be done).
     
  15. latemetal

    latemetal Gold Member Gold Chaser

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    If you have a local fleamarket, rent yourself a table and buy Precious Metals. My opinion is the market is out of whack and will be for some time, this means I'm just storing up "dry powder" right now.:pepsi:
     
  16. ~BS

    ~BS Gold Member Gold Chaser

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    The market has determined that the value of junk silver is around $28/ounce, and not what the paper silver market says it's at.
     
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  17. ~BS

    ~BS Gold Member Gold Chaser

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    Such as?

    Silvertowne is selling generic 2013 silver maples for $33.90, or $10 over spot.


    http://www.silvertowne.com/p-21786-2013-canada-silver-maple-leaf-1oz-bu.aspx

    Apmex is selling silver eagles at over $29 each.


    When you take this into consideration, junk silver is still cheap at $28/ounce
     
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  18. smooth

    smooth Gold Member Gold Chaser

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    Last edited: May 11, 2013
  19. TomD

    TomD It blowed up, y'all Gold Chaser

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    I'm still not too sure as to how "spot" price is derived but I do know that the computation involves a a large amount of hypothetical silver. On occasion the price for hypothetical silver becomes discombobulated on the low side from the price of real hold-in-your-hand silver and the holders of the real silver say "screw you, I ain't sellin' for that!" The difference between the price of hypothetical silver and the price of real silver is known as "premium".

    Now, if you want a piece of paper swearing that you own some silver somewhere, I'm pretty sure we can find you some nonexistent silver for about $24 per (nonexistent) ounce. If, however, you want some on my silver for that price, forget it.

    The disconnect between the prices of real and pretend silver (and gold) became insane in 2008 and early 2009. Forget premiums, you couldn't buy real silver anywhere.
     
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  20. squirk

    squirk Seeker Seeker

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    And there is another factor you need to take into account.....they can't make any more "junk" silver. There does seem to be a real and actual shift in the market as it is concerned with pre 1965 coins (I personally hate the term JUNK, as it is anything but that). Like another poster said, you dont HAVE to buy junk. Even in this current market there are values to be found.
     
  21. Dude

    Dude Midas Member Midas Member

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    Anyone still melting 90%? Probably so, up until recently. Did anyone buy 90% at $45 spot with a $3 discount and are holding? Probably so. Do they make any more 90%? No. Are you willing to buy mine for the price I am willing to sell at? Obviously not. Tipping point of 90% premium? Maybe.
     
  22. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

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    Apmex has a $1000 face 90% for $19,941.35

    Coloradogold has $1000 face 90% 20,038.19 with a 7 day wait.

    Providentmetals has $1000 face 90% $19,959.22 cash price.


    Seems they're selling as many bags as you want!
     
  23. Gcubed

    Gcubed Banned

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    Ya fergot Tulving, $19,276.40 delivered.
     
  24. 917601

    917601 Mother Lode Found Mother Lode

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    Junk is generally accepted to be " the Survivalist" preferred form of Silver to hold. That says a lot in our current state. Do junk hoarders know something the average silver bugs do not?
     
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  25. TomD

    TomD It blowed up, y'all Gold Chaser

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    So everyone is about $3 over spot. Amazing how times change, 90% used to always sell for below spot.
     
  26. Fiat Metaler

    Fiat Metaler Gold Member Gold Chaser

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    i've got some 40%. its the poor man's 90%. still available for less than spot.
     
  27. ME Co.

    ME Co. Silver Member Silver Miner

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    When you look at them places online did you happen to notice their buy price? Obviously they have to charge more than they have to pay. I sold my 90% and bought 10 oz bars for less premium- so I gots more silver. Just saying.
    Try this on for size if you don't like paying premium. HH Mark
    http://www.goldismoney2.com/showthread.php?608-PROSPECTING-for-90-SILVER!!!
     
    Last edited: May 12, 2013
  28. latemetal

    latemetal Gold Member Gold Chaser

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    Just got back from the Fleamarket, the only dealer willing to sell 90% was at 24x face, $33.57 silver anyone?:hmpf:
     
  29. Ahillock

    Ahillock A nobody Mother Lode

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    Exactly. 90% has its place in someone's stash. Especially for the survivalist/SHTF type scenarios.


    Trading up is a good thing but hopefully you still kept some of your 90% ;)
     
  30. Argentium

    Argentium Midas Member Midas Member

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    I've always thought of my 90% as my absolute core position in silver. Bought most of it really cheap by today's standards and have no plans to sell in a non-SHTF situation. Everything else in .999 is negotiable for sale, dependent on current spot price, and/or other factors.
     
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  31. Hi Ho Silver

    Hi Ho Silver Seeker Seeker

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    FYI-- Bought $30 face quarters for 19 x face today at a LCS also bought 2 ASE BU 26 each. 3 miles away there is another LCS at 22 x face for 90% and he had a few ASEs for 32.

    Deals are there, just gotta hit the right place at the right time ;)
     
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  32. Ahillock

    Ahillock A nobody Mother Lode

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    And if you wanted > 2 ASE you would be SOL.
     
  33. Piggybank

    Piggybank Seeker Seeker

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    Would it be considered rude to LOL at the OP's opinion....because I am. :D
     
  34. Hi Ho Silver

    Hi Ho Silver Seeker Seeker

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    At this LCS yes...but I'm sure there are plenty of places you can grab more shiny at these prices :s9:
     
  35. valediction

    valediction New Member

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    Of course they aren't selling. Anyone who has purchased 90% in the last few years has purchased when silver was $25-$50, why would they sell for a loss unless they absolutely needed the cash and couldn't get it any other way? If you've been stacking a long time and got it when it was cheaper, you likely traded it when it was in the $40's if you were looking to increase your stack, why do it when it's down? If you've been stacking a while and have a decent supply of various forms (junk, rounds, bars of various weights, sterling, etc) and don't need the money, it makes sense to keep what you have rather than trade in or out. Nobody knows what the future holds, so shorting yourself in one form for what may be more ounces of something in less demand in the future may not be the best move. Let the price come back up a bit and the supply may loosen up accordingly.
     
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  36. Ahillock

    Ahillock A nobody Mother Lode

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    At least they had two. My LCS hasn't had any silver in stock for over a month now.
     

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