What are you all paying for 90% junk?

Provident Metals has the lowest premium on ASE bullion coins and 90% junk silver.

 

Log in or Sign up to hide this ad.

Agreed. Provident is the Best place for ASE's. I am finding better pricing for 90% but it's through a local coin dealer. He sold me 15XFace when spot was $19.75 and he would buy back at 14XFace with spot at $19.75.

 

$3.25 of 90% 14.5xFace. Got all quarters. Only paid $2.00 over total melt.

 

10.25 X Face. My LCD gives me a $1 - $1.50 off whatever bid is. So I do very well when it comes to 90% "junk silver".

 

That's awesome. Junk silver sells like hot cakes in my area.

 

But how do junk hotcakes sell? Like silver?

 

At my coin club $300-$400 junk silver gets sold a meeting. I track it and it goes quick. Junk Hotcakes go for a premium there too!

 

I just attended one of my two "regular" club meetings just this past Tuesday. A coin auction, as always, was part of it. Quite a few silver coins went for UNDER melt. Why? Nobody in the club thinks the intermediate trend is up for silver. We all expect downward pressure.

 

At our auction It's going right at melt or a few dollars over on some of the nicer coins (I.E Modern Kennedy Silver Proofs). Opinions can vary. The recent bump caused a lot of the action the last few months at the club. Silver's been sitting around the $19-$20 range the past few weeks. You may be right, my next meeting is at the end of the month and the trend could change similar to your clubs. I'll report here on the trend.

 

Just bought 100 face for 11.8x from estate sale people I deal with. They gave me a little cushion .

 

That's a heck of a deal. I had to pay 16x face for 3 walking lib half dollars yesterday.

 

I would like to buy some gold at 200+ below spot. How can Provident do that?

 

Our largest LCS uses the formula - spot x .715 - 2.00. For example, spot is $19.78 x .715 = 14.14 - 2.00 = 12.14 times face. Not sure if that is a buy or sell price.

 

It has to be a buy price. If it were a sell, that (-2.00) would be (+2.00).

 

I agree.

 

My LCS is a complete rip off. He sells junk silver for 17x! I almost never go there. The place I go is 12-14x fv

 

Paid 13.5xface this past Saturday for $2 face.

 

Almost any of the larger dealers will currently pay Spot X .715.

$13.65 per $1 at the moment.

Any price I can buy at below that and I can make money.

 

At my club tonight I sold 90% Junk for slightly over melt ($18.75 Face Value). I sold $10.00 face of 40% at 91% of melt. I also sold 5 Superman Maples for $3.00 over spot. Not a lot but it was selling.