I'm curious, too. Often when a metal price spikes, offers from dealers lag considerably. It was different during the 2011 spike - at that point, I think a lot of dealers expected silver to go much higher than it eventually did. Anybody who bought at spot during those spikes has either sold at a loss, or has been waiting a long time to recoup their "investment". (Okay, there are a few exceptions. Some people managed to find nice rarities at spot during the buying-and-selling frenzy. I'm keeping my eyes peeled for similar opportunities, but I'm not actively searching the way I was then.)
Sure...why not sell some of your supply. Sell in tranches to test the market. Sort of the opposite of dollar-cost-average buying.
I've tried to figure out the inverse of dollar-cost-average buying, too. But "swap silver for more dollars when the dollars are weaker, and fewer dollars when the dollar is stronger"... just doesn't quite sound right.
I just got a quote 2 weeks ago from my LCS for $23/per coin. Nuh uh. I understand they have to pay overhead but he admitted they are selling the exact same coins for $33 each. That's a pretty excessive margin for a coin shop, that's almost pawn pricing. What really cracks me up........you can go to a pawn shop and get a better deal if you pawn them rather than sell. Just don't go back to buy them back, winning.
I was thinking the same thing. Why would anyone sell something like gold or silver to get paper currency that’s dropping in it’s inflated value?
Its basically like any other FOREX trade... you are trading a currency pair and betting on one or the other to go up. If you're trading USD vs GBP or JPY it is no different than trading USD vs Silver or Gold. You bet that one is going up or one is going down, and you try to make a profit on the difference.
I was thinking about selling silver to buy collectible silver in MS condition. I think I mentioned this already, but not sure if that's a wise investment choice unless I can buy better than CDN values.
I hear ya but I don’t know which is better so I’ll just keep holding my silver bullion, my junk silver coins and whatever else I have for now.
I've been watching the buy prices from the online dealers and right now for 1oz generic .999 rounds they're $4 under spot. So unless the buy back prices make a bit of a run, I would hold. Your results may vary at your LCS, but I don't know.
My local coin shop pays a dollar under spot for bullion. They're not great on 40%-ers though; I had to let those go at ~$3 a piece.
40% is always harder to move, and trades at more of a discount. When silver was in the doldrums ten years (ish) ago, I went to one show where most dealers just wouldn't buy it at all, and the one who would was offering something like half melt (which isn't far off from what you got).
It seems you can find Silver at spot or below fairly easy. Some Gold AGE at spot but never no Indians for me at spot. usually 35 to 40.00 over. ouch!
If I said 79,80,81,82 San Fransico Mint Frosty reflective fields will outperform many money coin Morgans would I be wrong?
I don't know. I know the TPGs hold them to a higher standard than the rest of the series, it seems in their opinion it cheapens their grade. For example, I don't think I've ever seen a 1881S MS DMPL or PL now that I think about it. At least not on the plastic. It seems that series of years in S were plentiful and locked away in vaults for 90 years before being flooded onto the market.
One year, Mom's father gave a silver dollar to each of the grandkids. I imagine he got them during that flood you mentioned. I think all of them were 1880-S or 1881-S, maybe an 1879, maybe an O in the mix. (Mine's an 1881-S, probably MS-62, and won't be going anywhere as long as I have any say in the matter.)
