Silver getting crushed today

That's the one thing that's sure to make sense, regardless of whether silver goes up, down, or off into the fourth dimension. Various investment strategies might make you more or less money in the future, but if you're getting enjoyment today, you've already won.

 

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Someday, as PM prices advance, LCS coin dealers may "adjust" their 90% silver over-the-counter buy prices for the WEIGHT of the silver too, not just for the face value. There might be a big sign posted:

ATTENTION - 90% SILVER SELLERS

Per $100 face value, under 68.75 Troy ounces, deduct 3% (3.8% light)
Per $100 face value, under 70.25 Troy ounces, deduct 2% (1.7% light)
Per $100 face value, over 72.00 Troy ounces, add 1% (0.7% heavy)

We reserve the right to waive these adjustments based on market conditions.

[I just made these numbers up, based on a standard 71.5 ounces ASW. But no one wants a bunch of 1917 Mercury slicks so thin you can read the mint mark from the obverse ]

 

I mentioned in an earlier posting that a local shop weighed the junk silver, multiplied the result by 90% and then added 5% to the total for the final price. In other words he got 5% over melt. I was told that I should have asked him o charge me a certain amount times face for a better deal. Just for the heck of it, I counted the face value of the coins and I wound up paying 15 times face, so it looks like I got the better deal by him just weighing it and the deal went faster for him. I guess he does it that way to say the time it would take him to total up the face, it's quicker to just weight it.

 

It also depends upon your selling audience. On some sites out there people are paying premiums for ASEs.

I've been building a set (with plenty of spares) of 1986-2016 ASEs. The most I've spent for any one is about $24. and I have 86-94, 2000,03,05, 08, 2010-2016 so far. My last batch was 19.07/ea which was a $4ish premium over spot.

Many of these years are going for quite a bit more on some sites.
If I sell them to a LCS, they'll give me spot (unless I know their value and ask for more while still allowing them some headroom), or back to say apmex/ provident. In a down market, and quick cash, I'll get spot. If I want to sell and hold out for max premium I can actually make some money today considering the years that I have in watching them sell out there.

I paid $21 for my '86 and on ebay they're selling for $33+ in raw BU.
It all depends upon your mindset on silver, ASEs, how you plan on selling it, the market at the time and the urgency in your selling, your knowledge of where and how to price it dependent upon the audience and the demand/supply.

Add to that that they are mighty pretty.

This argument can be made for any PM product made and sold by the USMINT. Why would anyone buy any USmint PM product? But people do, and they make money on it too at times.

 

Looks like Dec 7th all over again ..


anyone know why the large 50cent uptick yesterday ?

 

I ran off to the news sites yesterday when I saw it. Judging from all the "BREAKING NEWS" banners, it was clearly Megyn Kelly's move to NBC that did it.

 

Was wondering what caused the spike myself. Something to do with being back from the Holidays? Who knows.

 

Maybe the spike was caused by the fact that people are starting to get their tax forms in the mail.

 

provident ASEs for $18.70 .. roughly $2.20 over spot right now.

and they started taking electronic checks

just dropped down to $18.67 ...

 

I got notification from JM Bullion about the eChecks but not Provident. When did you get the Provident Notification?

 

When I went through the Check out process. The "mail in a check" was replaced with electronic Check.

I noticed last week another site stated eChecks were coming. So I figured they'd all do the same thing. Saves on money and adds a few days. No problem.

 

Should make the time less to get your order I assume because you don't have to snail mail it.

 

Yes, eliminates the one way snail mail. So only 3-4 days check processing then they ship. Which, if silver drops a good amount .. just cancel and rebuy versus an immediate pay and snail mail a check (if they allow that).

 

I'm not sure there's any way they could prevent you from canceling an e-check under those circumstances, but I'm pretty sure they'd block you for life after the first time.

 

Provident does echecks too now? Very helpful info..Thanks Clawcoins!!

 

Yes Clawcoins Tx for the heads up

 

I guess Megyn Kelly's move wasn't all the reason for the PM moves ....
==> http://www.marketwatch.com/story/gr...gure-out-trump-the-metals-fans-say-2017-01-05

==> http://www.marketwatch.com/story/go...doubt-feds-appetite-for-rate-hikes-2017-01-05

==> http://www.marketwatch.com/story/do...ble-uncertainty-about-trump-future-2017-01-05

 

Breaking news: Gold sellers find reasons that everybody should be buying gold!

 

well, it's going to surge to $5,000 an ounce !! from the "charts" I've seen.

I think you should buy my old car too.

 

Nah. It's going to $10,000 an ounce.

By the way, my controlling interest in the Mississippi River bridges around here is on the block, should anyone be interested.