Saturday's Cleveland Show

Discussion in 'Coin Chat' started by manny9655, Jun 14, 2021.

  1. manny9655

    manny9655 Well-Known Member

    I wasn't sure whether to post this in the Coin Chat section or the bullion section, but anyway, here goes.

    I went, as usual, to the monthly show in Broadview Heights (suburban Cleveland) this past Saturday. The show was very well attended; not quite packed, but there were a lot of people there. There were quite a few people buying. I saw one dealer that was selling pretty well circulated common Morgans for $33 a pop. I filled some holes in my Mercury Dime collection and my JFK half dollar collection, but didn't spend a lot. When chatting with one of the dealers, he said that people are scared because of the uncertainty with the economy. I agreed with him, however, my question to the group is this: If this is true, then why has the spot price of silver been pretty stable over the last few months? Why hasn't it gone up significantly? I've noticed that prices HAVE gone up, but spot really hasn't. Does this mean that more people are buying collector coins and not bullion, or what? I'd love to read your responses.

    Manny
     
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  3. Garlicus

    Garlicus Debt is dumb, cash is king. Supporter

    It could be that money is going elsewhere, like stocks or crypto.
    Those that were buying, were getting coins for their collections. It seems like the surcharge on PMs is too high at the moment to justify purchasing it, for some.
     
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  4. fretboard

    fretboard Defender of Old Coinage!

    In answering your question, I think many collectors are buying collector coins instead of bullion but it doesn't matter as there's a ton of Silver stackers buying up every ounce they can!! :D True on the spot price of Silver not budging for over a year, seems like some buyers don't care about the Silver spot price at all.
     
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  5. Conder101

    Conder101 Numismatist

    Spot has gone up 13% in the past 6 months. (Per Kitco silver)
    Up 59% over the past year.
     
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