Might be time to sell some silver soon...

¼ point drop in interest rates by the Federal Reserve might have had an impact.

 

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The signal for two more, before Jan 2026, priceless for PM holders

 

Today's silver is at $43.01/toz.

At the local coin show today I sold some 90% silver for close to 28x face and 40% silver for a little over 11x face.

 

Its now a good time to sell ? I dont know Davey....

 

Sold most of my 90% Constitutional and some of a relative’s 28x face. My SDB became too big to lift. High quality problem. I’ll hold my silver position in an ETF for ease of investment movement. And some GLD. If they go down, I buy more
I’ll still buy physical but only well behind spot. And search em all, all 3 sides. Addiction admitted

 

At the moment silver is up again. Up, down, up, down but heading up in the long run.

 

When silver moves, traditionally it has been late in the ballgame for PMs.

Folks who don't want to spend $3,800 on an ounce of gold will buy 10 ounces of silver for $450.

 

Luckily with the silver rush, the increase in silver prices doesn't really affect numismatic values like has happened with gold. With silver, rarity and condition is still king.

 

Really? I mean, yeah, the gold price dominates numismatic value for common gold coins - but what does the silver price do for Roosevelt dimes, or Washington quarters, or Franklin halves?

I remember when there were "better dates" in the silver Roosevelt series. Not any more.

 

I didn't think about that. But I don't collect pennies, nickels, dimes, quarters or half dollars. I hoard some. So I didn't notice. I really only collect Morgan Dollars. It has not affected them one bit because I try not to buy anything circulated. There are the obvious exceptions of course, the key dates are tough rows to hoe.

 

You mean they sold at a premium to their silver content but not now ?

 

It's a tale of two silver markets.

London OTC/spot markets trade 1,000 ozt "London Good Delivery" silver bars. These are becoming increasingly scarce as the LBMA vault stock drains.

Retail buyers of 90% silver, 1ozt coins, 10ozt bars etc. are not even awake yet on silver. Per the anecdotal reports I'm seeing/hearing from coin dealers, retail is still selling everything and not buying (as of a week ago or so). Coin shops have been selling 90% to refineries to be melted down, but the refineries are so backed up with inventory that they have stopped buying, so dealers are trying to sell 90% at spot or even discounts to spot right now just to get some cash flow to pay bills.

Retail will wake up eventually - late to the party.

 

90% silver sold at a premium to spot during the ~2010 bull run. Once retail wakes up and starts buying, 90% silver disappears from the wholesale market. They don't make any more of it. What supply exists is limited and when it's sold, it's sold.

 

In a sufficiently old copy of the Red Book (from the mid-70s or earlier), you'll see that certain dates are priced higher than most. I'm remembering the 1949-S, the 1954-S (?), and all three 1955 mints. Most dates, though, traded at melt value.

 

Except the pawn shop near my office, which just put out a good bit of silver (maybe $100 FV, in $5-$20 batches) - marked at 55-60x FV. I don't know, maybe they've got buyers foolish enough to pay it.

 

And at the moment it’s $45.21 and still rising. It will probably drop overnight.

 

Franklins are similar. The 1949/1953/1955 dates/various mint marks (for those years that had them) tended to have a premium but as spot goes up, pretty much all sell close to it (unless it’s a nicer raw UNC that has a chance of grading well).

 

The last coin show I went to, I decided to finish my Rosie's Dime alum and spent some time looking through a "junk" bowl of dimes. I pulled out 3 - 1949-S's