Silver Premiums for Classics, Commemoratives, & Bullion

Figured a thread on the premiums we are seeing on bullion coins, classic coins (i.e., MSDs), and commemoratives would be useful.

The most coins I have -- but not the biggest $$$ committment -- is silver coins. Most of mine are commemoratives or bullion coins like ASEs, Wedge-Tailed Eagles, Koalas, etc.

It appears at first glance that the premiums on these coins have followed the same path as gold premiums, that is to say, erosion. My Wedge-Tailed Eagles sold at huge premiums when I bought most of them beause silver was under $20/oz. PF-70 and PF-69's that I paid a 150-250% premium now have a 50-100% premium, though I see ASKING prices that are triple or more the price of silver.

 

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I been buying my bullion in local auctions here of late. I picked up a sizable batch of silver dollars barely below spot but once you factor in the shipping and auctioneers fees they come out a hair over spot. Not sure what the brick and mortar shops are getting right now.

 

My LCS sells most silver products to me at least..LOL at $2 over spot with no tax in the state of Nevada, so I consider that a pretty good deal, buys at $3 but by percentage GOLD is much higher.

 

I been hearing stories about a lot of collectors selling their slabs and collectibles so that they can buy bullion. I'm not sure if that is the case, but that is what I am hearing.

 

Testing the sellers' Market a little bit Saturday by selling (2 Indian heads and 5 AGE 1/10 ounces of gold, 20 Ase, 80 franks, 3 rolls of quarters. a box of mixed silver at my Late father-in-law estate auction, Railroad items also

 

Seems like the opposite of a good move. Sell bullion during a spike, buy premium coins while the premiums are compressed.

When silver spiked back in 2011, I spent some of my time and money looking for lots sold as bulk silver that contained better coins. I didn't always succeed; sometimes the stuff just isn't out there, and sometimes I thought I'd found a treasure but it turned out to be just more trash. But I did manage to flip some of the stuff for a profit even after the silver bubble popped.

Even before 2011, people were talking about all the really good stuff that went into the furnaces during the 1979-1980 spike. I'm not seeing anything to make me think this time is different. I wish I could be in a position to search some of those batches heading off to refineries.