Silver spot price

Of course most of what gets melted is the stuff that was worn and common in 1965 with lots of AU and Unc late date coins. But when dealers get backed up in silver something ends up being melted and they get rid of what they actually have on hand which means anything silver worth more as scrap. Refineries operate on pretty narrow spreads and the actual cost of creating bars for industry is hardly onerous. Most dealers mark up between 3% plus shipping cost and 10% or more.

When refineries don't need silver premiums come down and when they do the premiums go up.

I doubt the backlog is beyond six months.

 

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Watch for refineries to back up more and then cry for product next year. They'll especially want 999. Hold onto that 90% it will trade at a nice premium again soon enough.

 

Over $50 again as it went up over $2.00 today. Silver supplies are short.