Are we running out of junk silver?

[highandwired]

During their show, Melody and Alfred (http://www.youtube.com/watch?v=ltrI4lhl5Ok) seem to suggest that we are running out of junk silver. This seems to support what BrotherJohnF has said about the premiums on junk increasing. What do you guys think?

This also seems to suggest that silver is finding it's way into stronger and stronger hands.

[Viper_99]

They definitely think people are holding on to their silver and not selling. When the price is manipulated it makes it hard for dealers to handle long down trends. John got me thinking about how dealers hedge the silver markets.

[EL34]

I have purchased about $1000 face in 90% in 6 different purchases the last couple months

The premium is going up all the time which tells me the supplies are going down
The first purchases was spot -.10
Then spot even
Then spot + .10
Then spot + .20
Then spot + .30
Then spot + .40

Currently my fav merchant is spot + .50

This is all over a 2 month period

[abreik]

I too have seen the sell price for 90% going up quickly this year, however I haven't seen the buy back price move. With the spread on 90% now as wide as it is, I'd rather go with maples or generics. If the premiums on 90% is going up because of scarcity, so be it, but the buy back price needs to go up too or I'm not interested.

[highandwired]

(06-26-2012 06:56 PM)abreik Wrote:  I too have seen the sell price for 90% going up quickly this year, however I haven't seen the buy back price move. With the spread on 90% now as wide as it is, I'd rather go with maples or generics. If the premiums on 90% is going up because of scarcity, so be it, but the buy back price needs to go up too or I'm not interested.

Personally I don't really care what the buyback price is because I'm a stacker and I won't be selling my silver anytime soon. I guess each of us has a different strategy. I used to buy bullion and then started buying silver dollars and I love them, especially @ spot.

[EL34]

Purchased another $250 face yesterday because supplies are becoming scarce.
$.50 over spot as of yesterday

http://silvervigilante.com/junk-silver-d...#more-1605

I love junk silver

[highandwired]

(06-27-2012 08:44 PM)EL34 Wrote:  Purchased another $250 face yesterday because supplies are becoming scarce.
$.50 over spot as of yesterday

http://silvervigilante.com/junk-silver-d...#more-1605

I love junk silver

Just read that story. I was hoping that I could pick up some more junk when the paper price dips but seeing as most places are running out of junk, I think I might have to pick some up soon.

[cowS grazinG]

who put a junk in the milk bucket :lol:

junk 90% is the way to go

[highandwired]

I suppose that I can answer my own question now. Disclaimer: I am only sharing my personal experience and do not claim to know the supply of junk silver out in the "market".

Whenever there are coin shows in my area, I check them out as I am able to pick up junk silver at spot (even silver dollars). In the recent past I have even paid under spot for quarters and dimes.

So I went to the coin show and I was very very disappointed. I had to come back home with fiat in my pocket. There was hardly any junk available at all. I talked to a fairly large dealer (who I buy from on a regular basis) who informed me that his supply of junk has pretty much "dried up!" I was stunned as I never had any problems picking up junk at coin shows.

Has anyone else experienced this?

[Kapten hörntand]

same in sweden., its a huge difference from say a year ago. Drying up indeed

[harleyd70]

(06-27-2012 10:13 PM)highandwired Wrote:  

(06-27-2012 08:44 PM)EL34 Wrote:  Purchased another $250 face yesterday because supplies are becoming scarce.
$.50 over spot as of yesterday

http://silvervigilante.com/junk-silver-d...#more-1605

I love junk silver

Just read that story. I was hoping that I could pick up some more junk when the paper price dips but seeing as most places are running out of junk, I think I might have to pick some up soon.

erm $.50 over spot is more like $2 over spot because of how thin and worn the coins get... junk is no good. junk: Old or discarded articles that are considered useless or of little value. It's ugly and a rip off. Much better to buy canadian moose or even eagles for that matter

[EL34]

(07-26-2012 07:53 PM)harleyd70 Wrote:  erm $.50 over spot is more like $2 over spot because of how thin and worn the coins get... junk is no good. junk: Old or discarded articles that are considered useless or of little value. It's ugly and a rip off. Much better to buy canadian moose or even eagles for that matter

erm???

LOL

That's just your oppinion, and everybody's got one.

Obviously, your oppinion is not shared by everyone.
US silver coins are valued by many because they are real money that was minted by the US government.

It's .715 silver for every $1 face because of the wear and tear of circulated coins, and that is taken into account.
More like .724 for uncirculated, but .715 is used as an average silver amount.

Good thing you don't like Junk silver because that's more for us.