Silver is Up A Bit

According to PCGS Coinfacts, silver is up nicely after the closing bell.

Wouldn't this be nice!

 

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I'm not sure I'd call junk silver trading at 872x face value "nice".

For CoinTalk members only, I will offer to sell junk silver at 50% of melt value as posted above... oh, wait, that's right, no buy/sell/trade offers here. Never mind.

 

Would be nice for a short period of time only. Not for the long term. Time to sell quick! I have a few Roosies I will trade for a 1916 D Mercury.

 

Haha nice. Their ticker has been off a lot lately.

 

All this time when I though silver was gonna stay low and never go back up I was completely wrong, now it goes up 80 times higher than it was last! I wonder how gold is doing lol. I hope it will go slightly up soon though, right now it's depressing at $15 an ounce.

 

If that was the case the silver rosie and the merc would have the same melt value, around $120, and the merc would still have an extra $1000 as a key date so they price of the coins would be proportional as to at even $1 an ounce. Next time chose a coin NOT made out of the same metal, a key date penny would have worked.

 

He said he would trade a few Roosies for a 1916D Mercury. I'd go further than that -- I'd trade ten Roosies for that 1916D.

Unless gold is $15/oz. Then I think I'd finally do that silver-to-gold swap. I've got a few cull Morgans that I'd gladly trade at a discounted rate of 50 double eagles apiece.

 

It does seem to be up a bit, but wait! The DJIA is going straight up today, so maybe people will bail out of silver and go back to the stock market again.

 

Error prone website humor aside, I'm less interested in coin melt than the wholesale numismatic-bullion market price. And look at the dealers' Bid/Ask spread.

Yesterday(1/6/15) face was $13.02 when Ag was $16.29/ozt.
http://online.wsj.com/mdc/public/page/2_3023-cashprices.html
https://www.quandl.com/WSJ/AG_CNF-Silver-Coins-wholesale

 

I was generous enough to trade my silver straight across for some gold without worrying about the difference in price

 

Oil is down, but silver is up. Go figure! It's Okay by me, because I haven't found too much to buy lately.

 

Looks like it just may touch $17 for the first time in two months. After diligently chasing silver all the way down with timely purchases, the next challenge will be to talk yourself into ever paying a higher price for silver than the best one you got in the last couple months.

 

We are there! Now will it hold?

 

Sorry, I jinxed it, it's back under $17.

 

your safe 17.03 now

 

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Today(1/13/15) face was $13.322 wholesale (WSJ) when Ag was $17./ozt.
Better dealers selling for $13.878 - 13.885, so you can see standard retail premiums on $1,000. Face bags: 4.17% - 4.22%

 

The best I've gotten lately was 13.5 x face, so that's pretty close to the spot I guess.

 

It depends.

"Spot" is the wholesale commodity cash price for 715 ozt US Silver 90/10, currently ~10% higher than Spot Silver. (Apples-to-oranges, really.) If the average wholesale commodity cash price since 11/1/14 ("lately") is 12.80, you paid 5.46% over the wholesale market price.

Check quandl.com for whatever date, to calc your own retail premium against wholesale 90/10 and Silver.

Also bear in mind that that if you're buying -5% light coin, adjust your premiums upwards accordingly. The difference of .05 g per Quarter is ~5.8 Ozt Fine Ag per $1,000 Face.

In a small lot, 4 SLQ weighing 23.4264 g (21.084 Ag) for 13.5x face is closer to a ~23.3% premium over Spot Silver "recently." That's not what I'd call close to Spot, but retail premiums obviously vary too.

 

most of the silver i have bought lately has been 99 cents or less over spot i hate retail prices