I find it hard to believe, but right now the premium on regular, run of the mill junk silver is almost $4 OVER melt! I can get new ASE's (in a roll of 20) for $3.50 over melt or a tube of Maples for $2.75 or so over. It is supply and demand, and with low prices not many people are selling their junk silver to the stores, so it is easier for the stores to get new inventory of bullion (generic and ASE's, etc) and thus the premiums are lower. If people here think they might be able to "barter" with their junk silver they are going to be disappointed. If things get that bad here that people have to barter to exist, it will be "game over" anyway. Demand drove up junk silver prices in 1999 when people thought the Y2K thing was going to blow up the world, just a bit later the premiums disappeared and you could buy junk silver at melt (or lower). I think those loading up on junk silver at such high premiums are making a bad choice (vs. buying new ASE's or Maples). Just my opinion. Jim
Probably accurate. But timing is everything & premiums are important to look at. Currently, your best bet is to steer clear of the ridiculous current premiums on eagles. I'm a big fan of ASE's and their liquidity. NOT a fan of crazy premiums on them at the moment. There is a better time to sweep them up with a lower premium and or spot price IMO.
I am not recommending ASE's or Maples per se. But saying if you are going to spend $4 over melt for silver coins, ASEs and Maples are a better choice than run of the mill junk silver (at least at local prices). I stopped buying generic myself a while back (after seeing what was listed on Aliexpress, etc), but I am considering getting some locally if prices drop a bit more and the premiums on that stuff stays close to the same. I would simply have to find a brand and style of bar that doesn't appear to have been counterfeited yet. For people who do like generic brands, it is not a waste of time to peruse Aliexpress from time to time and see what the latest offerings are. Just my opinion. Jim
Antique silver is / should have a premium over 2015 minted bullion.. the fact it didnt was ludicris.. good to hear common sense has prevailed.. i understand the huge mintages on American money silver may of been the reason for it being Junk but sooner or later the cream rises to the top. US Silver in Australia has long held decent premiums as we just dont get the supply.. Buying antique silver was and continues to be the best hedge againest a declining silver.. in a rising market silver bullion appreciates most! 1for1
Similar situation in Oz. Offered between 10 - 20% above dealer's buyback prices for 50% pre-decimals and it was still difficult to source.
Were you seeing less 50% or less .925? What's their price/your premium? I could only find their prices for gold coins.
You guys need to come to Europe... we've got a huge tax on Silver which pushes prices WAYYYY over melting... For example. Spot is 10 (there abort's) and the cheapest of coins are around 16. This is a HUGE mark up and kind of puts us completely out of the running's for quantify for value.
