Canadian Junk Silver for 2% over spot

[harbl_the_cat]

I've bought a fair amount of junk silver from these guys. The problem is they often are sold out because they send a lot of their inventory to recyclers. They are by appointment only and they don't take online orders.

They tack on GST onto the sale (5%), but even then, it works out to a sale price that is about 2% over spot.

http://www.diverseequities.com/index.php?item=308

1966 and earlier Canadian Junk silver is 0.599 oz per dollar face.

I'm contemplating starting to buy nothing but junk silver, given that about 99% of my holdings are in 100, 10, and 1 oz bars and rounds. I can't find junk silver this cheap anywhere else.

Any thoughts?

[Dudesome]

IWait howmuch per an O does it go? over the silver spot? is the percentage of mix.material substracted?

[harbl_the_cat]

(03-26-2012 06:23 PM)Dudesome Wrote:  IWait howmuch per an O does it go? over the silver spot? is the percentage of mix.material substracted?

It's sold based on the silver content alone. Canadian junk silver is 0.800 fine with 0.6 oz silver content when minted. I believe it's sold at 0.599 because of circulation loss.

Divide the price on that website by 0.599.

At time of writing, spot is $32.44 CAD ($32.67 USD). The listed sell price is $19.31 CAD - or $32.24 CAD /oz...

Hmm... that's actually a bit under spot.

[Matt d]

Have you looked at the US junk silver at all?
I am interested, as I currently don't have any junk silver.
Want to ship to me?

[harbl_the_cat]

(03-27-2012 11:33 AM)Matt d Wrote:  Have you looked at the US junk silver at all?
I am interested, as I currently don't have any junk silver.
Want to ship to me?

Sure... I'll probably place a big order in a few weeks when I get my bonus.

I'll post here a few days in advance if anyone wants to get in.