This wont end well

[jim4silver]

This won't end well

For those hoping to buy physical silver at a lower price in the near future as well as those ordering from a coin store now by paying and waiting a month or so for their stuff to arrive. First let me say all of this is strictly my personal opinion and is not intended to be an assertion of facts. I could be all wrong on all this.

I just have to wonder if most coin stores across America are taking orders and promising to deliver product at a later date like they are here where I live. Where is all that finished product going to come from? I am not saying I believe the world is running out of silver, but I do feel it is and will be low on finished bullion products for some time if prices stay this low or go lower. I would not be surprised to see this all fall apart in a month when the distributors don't have enough finished product to go around.

The local stores are now charging almost 6 bucks over spot for ASEs they don't even have in stock and say will be available in June! Glad I have been buying over the past week or so even though the paper price may go lower.


Jim

 

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[skeeterd]

My only LCS seems to have plenty of 90% coins on hand when I stopped there a couple days ago. I saw about a thousand in face just in quaters and and plenty of dimes and halves too. They were charging 25 times face and doing a pretty good business with it. The guy told me he didn't think they would run out any time soon as they had more locked up. But they were out of eagles except for a select few slabbed ones priced over a hundred. They had very few generic silver rounds or bars and he thought those would be gone by today (I should have priced them but I didn't). He had just sold the last of his common silver dollars and didn't know when he would be getting more. He told me he was getting $30 apiece for those. He is taking a few orders, but only for his solid regular customers and he is not allowing them to prepay because he doesn't know when he will be able to get more for sure. I don't like buying from him because he is always overpriced and kinda rude to his cusomers, but I bought $1.50 face in silver quarters because he was free with his information and I never seem to have enough silver!!

 

[jim4silver]

My only LCS seems to have plenty of 90% coins on hand when I stopped there a couple days ago. I saw about a thousand in face just in quaters and and plenty of dimes and halves too. They were charging 25 times face and doing a pretty good business with it. The guy told me he didn't think they would run out any time soon as they had more locked up. But they were out of eagles except for a select few slabbed ones priced over a hundred. They had very few generic silver rounds or bars and he thought those would be gone by today (I should have priced them but I didn't). He had just sold the last of his common silver dollars and didn't know when he would be getting more. He told me he was getting $30 apiece for those. He is taking a few orders, but only for his solid regular customers and he is not allowing them to prepay because he doesn't know when he will be able to get more for sure. I don't like buying from him because he is always overpriced and kinda rude to his cusomers, but I bought $1.50 face in silver quarters because he was free with his information and I never seem to have enough silver!!

If he is getting 25 x face that equates to $35 per ounce of pure silver. I would guess they are probably pulling out the reserves to sell if they can get such high premiums.

Jim

 

[skeeterd]

I should have mentioned that he is the only coin or precios metal dealer in 200 miles. And he takes full advantage of it too.

 

[Bigheed]

in LA the big volume dealer CNI is buying junk 90% at ~110% melt last time I looked and they are sold out of pretty much everything. This is like reverse mania from when we were in the high 40s!

"gold bullion coins, gold bullion bars buy or sell, U.S. Gold Eagles, Krugerrand gold coin, U.S. Silver eagles, silver monster boxes, 90% silver coin bags, precious metals at www.golddealer.com" (great place to sell, not to buy IMO, at least for junk, for numiz stuff they have a beautiful collection).

*edit* wow that link is huge after cut and paste, sorry.

 

[jim4silver]

in LA the big volume dealer CNI is buying junk 90% at ~110% melt last time I looked and they are sold out of pretty much everything. This is like reverse mania from when we were in the high 40s!

"gold bullion coins, gold bullion bars buy or sell, U.S. Gold Eagles, Krugerrand gold coin, U.S. Silver eagles, silver monster boxes, 90% silver coin bags, precious metals at www.golddealer.com" (great place to sell, not to buy IMO, at least for junk, for numiz stuff they have a beautiful collection).

*edit* wow that link is huge after cut and paste, sorry.

The premiums on 90% are crazy now. Earlier in the week one of my local smaller scale coin dealers offered me some worn (not slicks but definitely circulated heavy) 90% quarters/dimes for roughly $2.00 per oz over melt. That is what a wholesaler was willing to pay him so he offered me the same deal since I was there and willing to pay, they retail for close to $5 bucks over spot per oz at the local coin stores. I turned it down because I KNOW that if/when this market settles down those premiums on 90% will go back to where they were relative to .999. I opted instead for some kilo Koalas for a lower premium per oz and got pretty, new Perth mint silver.

Jim

 

[Marchas45]

Well I can get 90% for x 19.5 but that's to much for me as I like to try and get it cheaper. @Skeeterd man 25x is way high but like you said he's the only one around. Well my two rolls of Philharmonics and 2 rolls of Buffalo rounds arrived this morning and that cost me $2128 which I believe is very reasonable. Keep Stacking, Charlie

 

[CoinFetcher]

Well I can get 90% for x 19.5 but that's to much for me as I like to try and get it cheaper. @Skeeterd man 25x is way high but like you said he's the only one around. Well my two rolls of Philharmonics and 2 rolls of Buffalo rounds arrived this morning and that cost me $2128 which I believe is very reasonable. Keep Stacking, Charlie



View attachment 781457

Good price - where did you get them? the Local Coin Shop? I recently got a tube of Phils - one thing I noticed, is the weight and fineness are not noted on the actual coin! But...I trust 'em

 

[Marchas45]

Actually on the reverse of the Phils it say's; 1 Unce Feinsilber meaning 1 oz fine silver. Lol

 

[CoinFetcher]

Actually on the reverse of the Phils it say's; 1 Unce Feinsilber meaning 1 oz fine silver. Lol

Freaking so glad I asked! I don't speaka da Austrian.

Marchas, I was thinking about you, after reading all the dead cat bounce theory this week. you ranting with your accent is hilarious ( a youtube you posted a few months ago). I am going to wait another week before dropping anymore greenbacks on silver. I don't want to be caught with my pants down.

On a Stackers Note: This seems like a great time for me to cash in my 40% kennedy halfs. People are willing to pay a tad over spot for them ( yes! ) - and I would turn them into low premium 999 fine. With the crazy premiums the 90% is holding, I think it's a great time to cash in some of my 40%ers. Any thoughts?

 

[skeeterd]

Coinfetcher, I've been thinking the same thing with my 40% halves. How do you plan on selling?

 

[CoinFetcher]

Coinfetcher, I've been thinking the same thing with my 40% halves. How do you plan on selling?

I have a CL ad, and have someone lined up to buy 600 of them for 2300. LOTS of response. I posted I wanted 5 per for the coins, and lots of people emailing me about being a scammer, ect. LOL - I did say "willing to negotiate" So the normal people who responded, I wrote back with my better price, and people are really like the 3.83 per coin. NOT BAD as melt 3.40

I have not been cashed out yet, so we'll see where this lands. People are hungry for the US mint silver coins. Have at it people - I'll upgrade to some maples.

 

[jim4silver]

Listening to the cable financial stations today and it still amazes me where we are today. Some of the "pundits" were actually hoping for a bad jobs report this Friday because they believe the FED will keep up the QE going if jobs number stinks since the FED promised way back to keep the QE until the unemployment level reaches a certain point.

Step back and consider that for a minute, actually hoping for higher unemployment (even TreasurePirate thinks high unemployment is bad , at least I would hope he does) so that the FED keeps QE going. If that is the "foundation" for our "recovery" as they keep saying, I have no doubt we are all totally f' once reality comes back to the markets.

So I guess if things actually do improve in our economy (which I highly doubt), we can expect the stock market to go down because they think QE will taper or end?

Crazy times that is for sure.

Jim

 

[TheCoinKid]

Economic growth (expansion, more jobs, etc.) is good for the stock market. Economic growth ultimately gives rise to inflation (demand for goods drives prices up). Inflation is bad for the stock market. QE helps keep inflation in check, thus is good for economic growth and the stock market. QE is artificial and will end, which will result in inflation, which is bad for the stock market (and may well stifle economic growth). One big loop cycle.

The market is always looking 6 months or more into the future. Anyone wanting bad employment data as a catalyst for continuation of QE, is just trying to temporarily extend a phase in the cycle.

Bottom line, I couldn't agree more: It's crazy times for sure.

TCK