I have been getting melt and below melt pricing on 90% lately. I asked a dealer that I bought at melt from over the weekend why he had no premium because he said it was hard to move right now and his buy back was 90% of melt. So basically I thought I was getting all these great deals when what was really going on was the market got flooded with 90%. Anybody else notice this? Could be just my area, I don't know.
I don't mean to be rude, but haven't you already posted this somewhere? More experienced collectors and investors pointed out that dealers are lowering their premiums because the price of silver has increased. Once it decreases again, they will raise the premiums back up.
I posted this in regards to silver bullion in general I believe, not 90% junk specifically. I have been so used to the buy back on 90% junk being at spot that a ten percent less buy back startled me. I just wasn't aware of this market trend.
10% is no big deal unless you are churning. Just hang on, buy more if you have spare FRNs and be happy.
There was some reference to this in NN recently and it's also affecting the price of older SE's. They are seeing small price drops while the 2017's are carrying a stiffer premium right now.
I've sold some rolls of Walkers but not any true 'junk' silver recently. And generally I don't sell bullion to dealers as I've mentioned in countless threads now because their margins are always going to equate to my loss. I also don't really get caught up in concern about the current buyback price when I'm buying. Maybe it's a psychological thing for some people but that would drive me crazy. If I had any concern in the short term over liquidating I probably wouldn't be buying though. As imo if there's any doubt chances are that money could probably go someplace better. There was another thread I think you started recently where many of us all stated the market is very soft right now. It's to be expected though with the uncertainty going on in the world right now. But if your buying under spot yourself not sure why would it be such a surprise that so are dealers? The bid/ask is always at the top of Coinflation also and you can get a pretty good inclination of things from that alone. As you can see both bid/ask are under spot currently Physical Silver Premium (Bid/Ask): -2.9% / -1.1%.
I'm in hoard mode, not really wanting to get rid of my silver in the short term. It just seemed too good to be true to be getting the prices I've been getting. I guess I'll keep hoarding.
I haven't noticed this in my area the prices seem to be pretty inline with the normal trends I experience. If your getting a better deal presently than it sounds like a good time to buy a little extra
Hey B-man, Just out of curiousity, do you have a set hoarding limit for your 90% junk silver, like a certain dollar face value or rolled amount? I have been selling off my silver for the most part (except my Panda's & my ASE rolls) to buy fractional gold bars / coins. I do have a 90% junk silver pile I have been ever so slowly adding to until I reach $ 100.00 face value and then I will stop with that.
When I was browsing my local bullion shop last week the dealer said nothing is moving in or out right now.
