News $53 Silver and $4200 Gold hits All Time High!

[NASAcollector]

Ya, I bought a lot of collectible pieces because the LCS guy said "it's limited..." SMH meaning only fools like me buy it so they only make 200 of something lol a lot of my stackables were bought when around 35 for me, been collecting almost a year and wish I would've gotten more back in the days. I would've bought silver over a lot of my firearms I dont shoot nw

99% of rare or Ltd edition silver pieces are a BS created retail market and you'll only get melt value at best. I'm shocked when I see the early 80's Prospector and American Eagles selling for 2-10 times melt, but they pay stupid prices.

With silver this high, the retail and collectible market is frozen, numismatic coins are only selling for a premium if it's a key date or slabbed in MS65.

 

[DRH50BMG]

99% of rare or Ltd edition silver pieces are a BS created retail market and you'll only get melt value at best. I'm shocked when I see the early 80's Prospector and American Eagles selling for 2-10 times melt, but they pay stupid prices.

With silver this high, the retail and collectible market is frozen, numismatic coins are only selling for a premium if it's a key date or slabbed in MS65.

I got a BU 1982 Englehard prospector from the LCS for $90 out the door, they did not have any gold or platinum but were loaded with silver and silver sellers. Even with the dropping GSR the large spread on the buy back price still has me waiting to trade to gold. With a spot price GSR currently at 51, the $15 spread under spot the refiners are paying has the GSR bump back up over 61.

 

[NASAcollector]

I got a BU 1982 Englehard prospector from the LCS for $90 out the door, they did not have any gold or platinum but were loaded with silver and silver sellers. Even with the dropping GSR the large spread on the buy back price still has me waiting to trade to gold. With a spot price GSR currently at 51, the $15 spread under spot the refiners are paying has the GSR bump back up over 61.

Eventhough the fundamentals show silver topping out at $150‐200, it's still a little scary to be buying at these prices. Based on the selling I've seen and heard about from dealers at $90, $100 silver will trigger another wave of selling that will wash out a lot more silver from small owners. Same happened to gold, so many sold on the way up to $2k, it brought in a flood of metal, then went sideways for a while and then jumped up.

I've been selling my non-gold / silver numismatic coins and buying silver & gold for less than spot. Right now the only thing that matters is how much metal you're holding and having a reliable exit plan.

 

[H. Bowman]

it's still a little scary to be buying at these prices.

Buying NVDA at a dollar and TSLA at 2 could have been called scary also. Or my Rolls Royce purchases when I loaded up at a buck.

 

[xrMike]

I'll post a pic of my $35 face value pile when it arrives tomorrow.

Placing another order this week. And the next, etc.

HODL, to the moon!

 

[xrMike]

 

[compulsivegungrabber]

 

[xrMike]

^ Now that's a stack!

 

[ikeo1]

View attachment 141522

Cashing out or ‘miring the stack?

 

[jacrispies]

99% of rare or Ltd edition silver pieces are a BS created retail market and you'll only get melt value at best. I'm shocked when I see the early 80's Prospector and American Eagles selling for 2-10 times melt, but they pay stupid prices.

With silver this high, the retail and collectible market is frozen, numismatic coins are only selling for a premium if it's a key date or slabbed in MS65.

You must be referring to silver dollars. Morgan/Peace dollars are currently worth no premium at MS-64 and lower condition. Spot price is catching up to the MS-65 examples quickly. Numismatic market otherwise is booming as stocks and precious metals are so high. People are cashing out and buying the coins they've always wanted.

The "better" premium silver bars are doing well (such as vintage bars, rare engelhard, etc). Those are trading at a premium. Wholesalers are still paying strong for generic silver close to spot. Very curious to see what the future holds.

 

[NASAcollector]

You must be referring to silver dollars. Morgan/Peace dollars are currently worth no premium at MS-64 and lower condition. Spot price is catching up to the MS-65 examples quickly. Numismatic market otherwise is booming as stocks and precious metals are so high. People are cashing out and buying the coins they've always wanted.

The "better" premium silver bars are doing well (such as vintage bars, rare engelhard, etc). Those are trading at a premium. Wholesalers are still paying strong for generic silver close to spot. Very curious to see what the future holds.

Actually I'm referring to the slabbed & graded bullion American Eagle silver dollars, where people are paying a 2x premium for a BS MS70 1oz round. Same with the huge premiums for vintage silver bars and rounds. I have quite a few of the 1980's Prospector rounds and 60's to 90's poured bars, I'm absolutely shocked what they're selling for on ebay.

I agree as prices climb, the common date Morgans & Peace dollars in MS64 and below are selling at melt. Same for gold coins, i picked up a few PCGS MS65 1924 $20 St. Gaudens double eagles for melt. In the end, it's all just metal.

 

[jacrispies]

Actually I'm referring to the slabbed & graded bullion American Eagle silver dollars, where people are paying a 2x premium for a BS MS70 1oz round. Same with the huge premiums for vintage silver bars and rounds. I have quite a few of the 1980's Prospector rounds and 60's to 90's poured bars, I'm absolutely shocked what they're selling for on ebay.

I agree as prices climb, the common date Morgans & Peace dollars in MS64 and below are selling at melt. Same for gold coins, i picked up a few PCGS MS65 1924 $20 St. Gaudens double eagles for melt. In the end, it's all just metal.

Don't get me started on first strikes, privy marks, and signature labels. It only goes downhill from there. The 1995-W in Proof-70 is a $10k coin.

Bullion stackers end up being collectors, which keeps the premiums on material even when metal prices are high. 60's-90's poured bars are much cooler than a new 1,000oz bar.

I'm in the numismatic industry which is why I enjoy commenting on this.

 

[compulsivegungrabber]

Cashing out or ‘miring the stack?

Holding for now, gold and silver. I don’t see the dollar gaining strength anytime soon.

View attachment 141522

i paid 1600 and change per bar when I bought them, so they actually outpaced the market. I am holding for now, which I assume “mining the stack” is a metaphor for. Nothing like trying to catch a falling knife. Hoping for 10,000 gold and 200 silver, gets anywhere close to than and I’ll cash out everything. Maybe invest in hookers and blow when the economy inevitably implodes.

 

[H. Bowman]

'miring the stack = admiring.

 

[NASAcollector]

In the 90's I had a pawnshop, gold was $280, silver $5 and I was buying common date cull to AU Morgan & Peace dollars for $2. In 2008 I was in a coin store when a guy walked in and wanted to sell 4 100oz poured JM bars for $8oz. The store owner didn't want them, I bought the 400oz for $7oz and at the time I regretted tying up that money.

This bull run is awesome for us, but it's not for the broad economy and proof of the degradation of the dollars power.

 

[xrMike]

This bull run is awesome for us, but it's not for the broad economy and proof of the degradation of the dollars power.

Spot is $96.64 right now, so pre-'65 quarters = $17.27 in melt value.

Yes, not a good sign for the fiat dollar.

About to hit the Submit button again. $30 face value this time. Just enough to get over the $2K minimum to avoid sales tax.

Wish I started stacking years ago!

 

[compulsivegungrabber]

'miring the stack = admiring.

Ah, I’m a little lingo challenged. Duly noted. I guess I was mining the stack.

 

[H. Bowman]

Miring, not mining!
...I'm only assuming, as " 'miring" is new to me too.

 

[xrMike]

Done, boom.

$30 face this time. 21.5oz melt value. Bring it!

 

[compulsivegungrabber]

Miring, not mining!
...I'm only assuming, as " 'miring" is new to me too.

Oh, good grief, I’m blind too.