Coin shops closing

[Dannycoco]

I stopped by LCS this afternoon and they had a sign in the window saying by appointment only due to the pandemic. Silver prices are diving so it’s a good time to buy but I assume any silver stacker knows that and are clearing out the coin shops. Anyone else seeing this in their town?

 

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[fistfulladirt]

Yup what a weird world. Here the prices dropped but there was no metal left to buy. I turned a friend onto some platinum too far up the road for me and he scooped the last of it like a bandit at $630 but the markup was terrible. Still an oz of platinum for $730!!! He bought the place out. I couldn't find anything to buy so I am twiddling my thumbs. The markup is ridiculous on most online sites and anyone half honest is sold out or laying low. Oh well hoping you all stacked enough away. In four months when we see the price at $30 oz ag I'll sell what I have. Then I'll be sad when it hits $50 I only have lead left. Thats if the lead doesn't need to get used first.

What do you get in the sale?

 

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[jrf30]

I stopped by LCS this afternoon and they had a sign in the window saying by appointment only due to the pandemic. Silver prices are diving so it’s a good time to buy but I assume any silver stacker knows that and are clearing out the coin shops. Anyone else seeing this in their town?

Look at the prices. I marked prices from about a month ago. Spot was $17.70 and Eagles were $21 at APMEX. 90% silver was about 14.2X face.

Today spot is $14.65. Eagles are $26, and 90% silver is 16.8X face. SIlver is down but prices are for some odd reason UP BIG.

I actually sold two monster boxes tonight, figuring with the spread as wide as it is when the panic goes away either the price willb e higher and my other boxes will be worth more, or the spread will tighten and I can buy back at a lower price. Or a combination of both. maybe price will be $17.00, but the spread tightens to about $20.20 on the eagles, where they should be.

 

[SFBayArea]

If physical prices are up and there is a discrepency between paper and physical prices... wonder if anyone thought of buying on options market and try to take delivery of physical silver. Afterall, isn't that the original point of the options market? I've never done options but just thought the whole options thing is another wall street gimmick that I would like to see blow up in their faces.

https://www.numismaticnews.net/arti...rices-down-physical-market-premiums-up-strong

 

[jrf30]

"Spot was $17- $18 a month ago plus whatever the shop charges . Now it’s $12. How would I have paid more?"

WHen spot was $17.70, Apmex had silver eagles at $22.20. Now, with spot at $14.65, they have eagles at $24.64. Raised the premiun to $9.99 per ounce over spot. WAY high.

That's how you can pay more with a lower paper price of silver. true numbers. FYI

 

[Dannycoco]

I paid $12.15 plus the shop charged $6. I only paid $18.15 total per ASE . And got generic rounds for $15.15 total per oz.