Are coin shops in your area still buying 90% silver coins.

I'm being told that they already have more than they want and not paying as much as they were. What are you seeing? I think I'm late to the party.

 

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Larry, I sent a note just the other day to my coin shop buddy. He is setting up a table at the coin show I am attending this Saturday. I asked him straight up if he wanted the silver that I was bringing and he enthusiastically said yes, he would take all I would bring him. He has long known that I hoard old US silver. I plan to dump 15-20 ounces worth this weekend along with an ounce of gold.

 

My friend was unable to sell any of his 90% locally last weekend.

 

Don't go to mine for some reason.

 

Not without a significant discount, which they are up front about to limit their risk with price swings (like today). It is very challenging managing risk as a dealer in gold / silver holdings at the moment.

 

This past week I took a little gold in various forms (jewelry, dental and coin) around to a couple of LCS. I saw a lot of 90% silver in cases in the shops. I sold the dental gold for a good price and turns out the jewelry wasn't high enough quality. Offers on the coin were alright on one shop and way out of bounds on another. No coin sales occurred.

 

@psuman08

For sure. That's why I try to buy numi grade stuff while I'm in a store to help them with their overall profit margins, since the numi grade stuff is typically priced much higher than precious metal content and the wholesale/retail spread can also be much wider.

I did that last week when I sold a bunch 92.5%-80% common world coins and bought this with most of those proceeds before leaving the store.