Why are you buying silver for 5 bucks over spot?

Discussion in 'Bullion Investing' started by FryDaddyJr, Apr 18, 2020.

  1. Stevearino

    Stevearino Supporter! Supporter

    Well, I just figured out my net. I sold 4 rolls over 4 weeks. Prices were $75, 70, 76 and 83. $304 netted me $66.88 /roll after fees (buyers paid for postage). That's 11% more than your estimate. This works out to 13.4 x face. Since I paid perhaps $60/roll, I am satisfied. I picked out some XFs and better, earlier dates out of the rolls before I sold them. Those will be sold at a future date.

    BTW, where are "silvidiots" paying 18-20x face right now? Certainly not a couple of weeks ago on eBay. And not from a gentleman that sells privately to a large group, and from whom I've bought a lot of 90% and war nickels over the past few years. I'd LOVE to get rid of Walkers at that price.

    The most important part of these sales, however, can't be measured in x/face, fees or net. Over the years I have accumulated too much bullion, junk and other coins, in the opinion of my wife. I finally realized that it is more important to provide her more peace of mind than wait for the next silver bubble. I still have plenty if/when that ever happens, but I'm not adding to my stack. I held two local auctions last year and grossed something like $25,000. It didn't matter to me if, in the end, I even lost some money. I probably broke even after paying the auctioneer's fees.

    I had the joy of accumulating, stacking and collecting. Now I have the joy of liquidating. I guess watching all the episodes of "Hoarders" my wife asked me to watch has affected my priorities.

    What is important is that my wife of almost 49 years doesn't have to worry about that much (and the four rolls of Mercs) if I tip over before her. I'm anticipating one more auction in the next year or so. I'll be able to give up the very large safe deposit box at my local bank. God willing, we'll be celebrating our 50th wedding anniversary next May with a smaller "stack" and more peace of mind. "If Mama aint happy, ain't nobody happy."

    Steve
     
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  3. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Well-Known Member

    Local coin shops are doing 17.5 to 18 for pre-65 silver. I can imagine it selling much higher on ebay though.
     
  4. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Well-Known Member

    If you're looking for ASE's at spot that will never happen. That's why we have rounds and bars, those are cheaper. Silver Eagles always generally carry premiums.
     
  5. alucard86

    alucard86 Active Member

    Yea but online the generic rounds and bars are still anywhere from $3-5 over spot. My various LCS want $3 for one 1oz round/bar, or $2 for 10+. I'm still not going to pay $2 or spot for 10 or more generic rounds/bars when those same LCS were selling 1 generic 1oz round for $1 over spot, and spot for 10 or more.
     
  6. Kentucky

    Kentucky Supporter! Supporter

    is that the opposite of never usually?
     
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  7. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Well-Known Member

    lol, guess I didn't catch that before ;)
     
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  8. Kentucky

    Kentucky Supporter! Supporter

    People say stuff like this all the time usually...
     
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  9. CaptainMK

    CaptainMK Active Member

    Let's ask a question back, do people tell you how you should spend your money?

    Its the person own decision of what he/she does with there money. If I saw a coin (I am more of collector mine you, less stacker) that I knew it was going to sell out and the mintage was low. I would pull the trigger for $5 over spot as I wish to collect the coin for my collection. That doesn't make it wrong or right as this is my money and I will do what is best for my situation. Let people make there own decisions on to buy or not buy as you may not be aware of the situation they are currently being presented with.
     
  10. FryDaddyJr

    FryDaddyJr Junior Member


    tis is supposed to be a bullion forum. not "shiny silver coin I pay double spot price for" forum
     
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  11. Kentucky

    Kentucky Supporter! Supporter

    It's called asking for advice.
     
  12. CaptainMK

    CaptainMK Active Member

    To each their own. Just gave a opinion
     
  13. CaptainMK

    CaptainMK Active Member

    Just gave a opinion, its up to the reader to decipher if its good, bad, or constructive advice. If you wish not to receive opinions/advice, why post this thread? Sorry you took it the wrong way but that is my opinion and mine alone
     
  14. CaptainMK

    CaptainMK Active Member

    Ain't going to lie, thats a great answer too, lol. I haven't bought silver personally since the pandemic happened. Yep, over spot is high right now, so I am holding off on my maple leafs and etc. purchases until it evens out. I am watching a few low mintage bullion which I may pull the trigger on but if I miss out, o well, on to the next one. BTW, I am a stacker but a collector as well. Price is a factor like everything else, but for certain situations, there is a time/place to slightly overpay for something you truly want.

    I had to give u a like cause you made me laugh hard and I woke my wife! No hard feelings here, Have a good one.
     
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  15. alucard86

    alucard86 Active Member

    Now that silver shot up to around high 17s now its 17.25 the random year ASE are still 10.99$ over spot. CSM are still 7.99$.
     
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