Run a way silver price ????? - Page 2
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Thread: Run a way silver price ?????

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  1. #16

    Aug 2016
    1,325
    1503 times
    All Types Of Treasure Hunting
    When a large country decides to dump a large amount of there precious metals the price will drop

  2. #17
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
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    Prospecting
    My lcs sent a 40 lb box to one of the big dealers, said it was a total nightmare and took him almost a month to get his money. He said he wont do that again.
    DeepseekerADS likes this.

  3. #18
    Charter Member
    us
    Mar 2013
    SW, VA - Bull Mountain
    CTX, Excal II, EQ800, Fisher 1260X, Tesoro Royal Sabre, Tejon, Garrett ADSIII, Carrot, Stealth 920iX, Keene A52
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    Digging in the dirt & scooping in the water!
    I don't need the money, so why the heck should I sell? That's what keeps me sitting on it, and besides - with my Hunt Brothers era silver, it doesn't look like I will ever retrieve my losses. I've told my son where to look for it when I pass and he's the smarter of my three.
    jeff of pa likes this.
    Republic of Vietnam 10/69 - 3/71, Cambodia April 27, 1970 on a mountain top with HUGE scorpions

    "'He jests at scars who never felt a wound'" c.s.lewis - 1940

    The Ten Commandments: http://www.godstenlaws.com/ten-comma.../#.UdAz65yynZg

    The Bill of Rights: http://billofrightsinstitute.org/fou...ill-of-rights/

    The Constitution: http://www.archives.gov/exhibits/cha...ranscript.html

  4. #19
    us
    Apr 2009
    Cornfield, IN
    F-22, cheapo pinpointer
    1,391
    1308 times
    All Types Of Treasure Hunting
    Quote Originally Posted by jrf30 View Post
    I've used APMEX numerous times in the past. But not right now. I called last week. They had a monster box of 2015 Eagles for sale for $18,340.
    I wanted to see what they would pay. I know they have to make a living, so I expected maybe $16K or even $15.5K for a buy side, so they could make the spread. They offered me $12,200. $24.40 per coin. While they are asking $36.70 per coin for their same stuff. HUGE spread.

    I didn't sell to them. Told them I could sell it for $16K through Craigs list and undercut their prices and still be WAY higher than their offer. PLus not pay shipping on a heavy box.

    They used to be close to realistic on their buys. Right now they are working on too high of a spread, and not worth selling to. IMHO.
    I didn't sell either. APMEX used to have deals that were "As low as $0.69/oz. over spot (if buying 500 or more oz.)" or "Any quantity $0.69/oz. over spot." I used to watch the dips and when APMEX would have a deal like that, sometimes I'd buy. Even then, I knew that if buying and selling from the same business, silver would need to make a significant price move upwards before I'd be able to sell and turn a profit (but then again, I wasn't buying with the intention of simply flipping it for a profit). I figured that their buy price would be below spot at a dollar or less so that they would profit from buy and sell transactions, so the $0.42/oz. below spot quote for secondary market 1 oz. rounds didn't surprise me and I thought that it was pretty reasonable. The problem right now is that their premiums are way too high, and have been since the pandemic hit. I checked last night and even if I wanted to buy 1 oz. APMEX .999 rounds in quantities of 500 oz. or more, the premium was $4.09/oz., so each round was $28 something and over $30/oz. if you only wanted to buy a hand full. Thatís a much more difficult spread to cover ($1.11/oz. vs $4.51+/oz.).

    You're in a bit of a different situation with the Eagles. Being produced by the government, they've always carried a fairly high premium, which makes the situation worse with the much higher premiums of the current market conditions. In that situation, you definitely might be better off selling them locally. When checking local sites similar to Craigslist, I always see Eagles carrying a significant premium when compared to Silvertowne, APMEX, or other brands. Locally though, the premium is usually nowhere near the $11.50 or so per oz. premium that APMEX is asking even for monster boxes right now. Thatís just nuts. I suppose that the crazy premiums must have something to do with the supply chain issues and what the market will bear. When silver plummeted during the initial COVID-19 outbreak, I checked the inventories of APMEX, Provident, and a couple of other places and they were sold out of virtually everything that wasnít a limited edition collector type coin. Generic stuff, ASEs, Maple Leafs, bars, rounds, even 90% stuff was gone. Everything was on delayed order status and the premiums were still around $4.00 - $5.00/oz., depending on what you wanted to buy so you were still looking to pay $16+ for even the secondary market stuff and standard 1 oz. APMEX rounds (which were not available).

    Kindest regards,
    Kantuck

  5. #20
    Charter Member
    us
    Nov 2012
    Maryland
    XP Deus, Tesoro Cibola, Full sized shovel and a backhoe
    16,830
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    Silver is down to $22 and change and gold to $1888 just after noon today.

  6. #21
    us
    Apr 2009
    Cornfield, IN
    F-22, cheapo pinpointer
    1,391
    1308 times
    All Types Of Treasure Hunting
    Quote Originally Posted by DeepseekerADS View Post
    I don't need the money, so why the heck should I sell? That's what keeps me sitting on it, and besides - with my Hunt Brothers era silver, it doesn't look like I will ever retrieve my losses. I've told my son where to look for it when I pass and he's the smarter of my three.
    From this post and your prior one, it sounds like you’ve answered your question. If you’re in a position where you don’t have to sell and aren’t motivated to sell, then don’t. Everybody’s situation is different though so I figured that I’d post my experiences so that perhaps some members could learn and benefit from them.

    I feel very fortunate that my wife and I were both able to remain employed and work from home during this %#^&*@ pandemic. I’m in no hurry to sell and won’t care one bit if my kids inherited my entire PM stash. Even if I decide to sell at some point in the future, the 40%ers and secondary market stuff would probably be the first stuff to go.

    "Making predictions is difficult, especially about the future." - Danish proverb

    If someone was motivated to sell right now and would be happy with their profit, then perhaps selling some would be a good idea. Or perhaps not. When I sold back in 2011 or 2012, silver was just under $30/oz. and I was happy with my profit. I didn't kick myself for not waiting a while longer and selling at the very top, when it hit $40/oz. for a brief time. With all of this uncertainty, I don't think that I'd ever sell all of my silver. It would have to hit crazy high prices ($100+ per ounce), and even then, I probably would still hold on to some stuff.

    Kindest regards,
    Kantuck
    DeepseekerADS likes this.

  7. #22
    Charter Member
    us
    An unidentified coin is a piece of metal. An identified coin is a piece of history.

    Oct 2004
    N. San Diego area (Pic of my two best 'finds'; son and grandson)
    Minelab Explorer
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    The market sees Biden winning; and the risks increasing, so gold goes up.
    If the market sees Trump will win, gold will be sold and stocks will be purchased.
    Other factors are involved, of course, but I think the main factor is the election.
    Don.....

  8. #23
    Charter Member
    us
    Mar 2013
    SW, VA - Bull Mountain
    CTX, Excal II, EQ800, Fisher 1260X, Tesoro Royal Sabre, Tejon, Garrett ADSIII, Carrot, Stealth 920iX, Keene A52
    14,052
    19736 times
    Digging in the dirt & scooping in the water!
    I need a car, have two dead ones in the driveway. I just did the math, maybe I should sell it and get a new car...... Got some thinking to do.... I'd rather leave it to my kids, but I'd also rather have transportation....

    Edit: I'm debt free and would prefer to keep it that way.
    Last edited by DeepseekerADS; Jul 28, 2020 at 12:45 PM.
    Republic of Vietnam 10/69 - 3/71, Cambodia April 27, 1970 on a mountain top with HUGE scorpions

    "'He jests at scars who never felt a wound'" c.s.lewis - 1940

    The Ten Commandments: http://www.godstenlaws.com/ten-comma.../#.UdAz65yynZg

    The Bill of Rights: http://billofrightsinstitute.org/fou...ill-of-rights/

    The Constitution: http://www.archives.gov/exhibits/cha...ranscript.html

  9. #24
    us
    Ed

    Jul 2018
    Eastern Connecticut
    Garrett AT Max/ Garrett AT Pro/ Garrett Ace 400/ Garrett Pro Pointer 2 / Garrett Z-Lynk AT Propointer
    1,282
    3464 times
    Metal Detecting
    Quote Originally Posted by Dannycoco View Post
    It just hit over $26. What do you think would be better to get rid of , junk silver or bars. Iím sitting on a few thousand 40%ers.
    If you're going to dump silver, dump it all......

  10. #25
    Charter Member
    us
    Feb 2008
    Great Lakes State
    dirtfishing
    11,307
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    silver surfing
    Honorable Mentions (1)
    I would consider selling today at about $100-$150/oz.
    The last time I sold was around 2012, several rolls of 40% halves that sat on Craigslist for a month with one inquiry and he bought the batch at 80% spot.

 

 
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