Today I called Multiple Coin Shops to find out what they were Paying for 90% Junk Silver AND what they were selling it for! This video shows you exactly why it's important to shop around when buying OR selling your Silver! Be sure to subscribe so you don't miss out on future videos, and thanks so much for watching! --Seeker
The LCS I have been buying from is way less for 90% .I’m paying 16.5x and sill stacking till I hit my goal. It truly does pay to shop around. This was a great video with great info. Please do more of these for the 90% collectors out there.
@@johnstuartmill1500 finally someone actually paying attention to the ball. Unless someone owns ETF’s it didn’t make any difference. It was a planned quick sell to boost profits, to force a quick sell. Which would drive price down. Creating a low spot buying environment. I’m buying, how about you? Blessings to all!
It seems to me overall demand for bullion is waning. The core stackers are still systematically acquiring; but the casual ones have mostly stopped or are waiting for the next big FOMO news to hit. Holiday season and end of year financial obligations should keep premiums low for a while.
I travel to a small shop in NJ for 90% - today my total was $1,050.00 - which included; 4 rolls of half dollars at $17.75 x face & 2 rolls of quarters at $17.00 x face. Little shop is always at least $1 - $2 cheaper than other locations. I hear other channels claim buying 90% is not worth it, and use excuse of the U.S. producing over 800 billion coins since its founding… I look at it from supply/demand position. Finding 90% in rolls is getting harder and harder… where as just 10 years ago, you would find one in every roll. Lower supply increased demand, with increased prices pulling up shortly after. I feel 90% will become extinct in the near future… I just hope the country that is America lives to see that day, Let’s go Brandon
Bullion dealers have expenses, and families to support. Bullion usually doesn’t have a huge mark up. When spot prices are dropping, dealers have to charge more to cover the loss of the bullion the bought when prices were higher. Blessings everyone!
I said that they have to make a profit in the video, I've never questioned that. But as far as dropping prices to cover losses.... no, that's not how it works. Dealers, at least the good ones, work on replacement costs. If they sell for less than they paid, they can just replace it for less than they sold for, leaving them with the same Silver and the difference. I know a dozen coin dealers personally, been to many of their houses even. Good Dealers know how the market works and they work in that market.
Im not a seller I’m a buyer all the way😂.. I do know pawn shops in my area are taking in way more silver than they’re selling. These coin shops probably do have a lot of inventory. They think it’s weird. $25 is still low for them. But people keep bringing it in. People probably just need money.
It seems that you might be better off (generally) selling privately right now, at least if you have 90%. Some of those buy prices were absolutely brutal
I’ve been buying Morgan’s for $30-55 each, some I payed more, I asked my lcs what they would buy them back for? They said $12-13 and I asked why do you sell them for so much if you only buy them for that amount? They said because of the premium and numismatic value. I’m definitely not buying them anymore after I reach my goal.
I got my Morgan's and peace dollars this past year for $25 each just a few months ago. Some of them are decent year and I looked um up and one could be worth 150 in circulated condition. I think it was my best score all year. I picked up 7 of them.
Sounds like a reasonable buy-sell spread. Anything beyond 2 times the buy-sell spread is too much, even during times of wild spot silver price changes.
Well with over $100 of 90% I would definitely be losing if I decided to sell now so I guess I will hold onto it for a while as Silver is for the long term not short game. Great Video Seeker
My local shops are the worst in the world all crooks. They offered me $2 over spot for ASE back when they were selling for 40 pluss they offered me $35 to $50 on ms63 morgans that I sold my self for 100 to 125 a had a rare $20 gold double eagle CC they offered me like $100 over spot I sold the coin for $4100
I'm not sure your LCS iz the worst crooks in the world, seems all the dealers I know maintain that same standard of basically paying below spot and not valuing the particular numismatic attributes in their offer ...everyone should have their eyes open ..still my LCS is where I scored so much cool stuff way below what one would pay on online precisely because their margins were lower initially
Never thought about flipping gold like a day trader, but if you catch someone unaware on a big purchase, you could come up. I probably never thought of it because it feels shady, and I'm trying to play the long game with valuables and stocks by collecting for a big payoff later. The short sale hustle is real.
The premium has gone away due to sell pressure. Nobody is buying, we advertise locally and end up wholesaling most 90% Majors are paying 50c back of melt for 10c and 25c and melt on 50c. Bought and sold three bags in last week. The government stopped handing out money and people have need to sell. 90% of the calls I get are people selling.
Hey the second guy third guy and 4th guy are all trying to tell you to keep it and this is the exact advice I would give. Most of the time when things like 90% go up is because telemarketing places run with it and tell BS stories and once the rumors slow they drop it and go to the next thing they can rip people on.
Junk silver prices and premiums always stems from hype and demand and the general stigma surrounding the retail buying side of the silver market, or in other words: "Dumb Money". Now that we just came off the high of $25, demand is obviously going to die off since markets can be irrational. Buy high sell low is the name of the game for most people so the only way you're gonna win is if you think have an opposite mentality.
During the calls, I loved your demeanor, I'm surprised no one offered you a tissue! Lol, You sound super bummed when discussing the fall in price, idk, maybe acting is your calling!
Is there any general correlation between 90% silver coin pricing and 1 toz .999/.9999 silver rounds or bars? Are shops consistent in this or are the pricings completely detached from each other?
Silver is not a trading commodity, it's to protect wealth. You take 1k ounces into any bank and you can get a personal loan against it. Better option than cash in the bank.
Have been stacking for about 2 years and in euros and swiss francs silver spot hasn't done much during that timespan. I think the dollar has just been acting pretty funky in recent years.
Every FIAT currency devalues over time. The Dollar as the worlds reserve currency only devalues slower than the others. This can be a net positive for Euro-users. If silver prices they the same in Dollars the nominal for Euro-prices will go up, because our currency devalues faster. (:
Great piece of acting, you had me depressed just looking/listening to you? 😩 I don't live in US but I'd LOVE to get some of that constitutional silver, especially at those prices?? US stackers don't realize how lucky they are, here in EU we have way less choice plus a 20% VAT on silver. Having said that, barring a personal financial emergency there is no way any stacker should be selling their PM's. PM's are not for selling they're for trading for other tangible assets. We know the dollar (and euro, yen, pound etc.) are dying so why would we be swopping real money for a dying currency? If you're buying silver/gold to turn a profit then you're in the wrong game. We know they keep slapping the PM price down to keep it out of mainstream consciousness but there will come a time when they can't do that anymore, and when that happens Joe and Josephine public will be scrambling for PM's but it will be too late for them. In the meantime, hold your nerve and forget about the manipulated spot price. Don't play their psychological game and keep stacking. Just my two cents worth.
I would agree with you about scrambling except that I've been hearing all of this gloom and doom about the US dollar and other currencies for over 60 years now, and guess what? They're still around. We've seen (for those of us who have been around a while) a lot of financial calamities throughout the world during that time (and it goes back even further that that) and the strong countries such as the USA, western Europe, Japan and other nations still proper over time. I'm not saying that it can't happen, but if scrambling ever occurs it will first be be for life's necessities such as food, clothing, shelter, etc., not silver or gold.
@@stanleykijek6983 Interesting that you would say "60 years" because it's almost 60 years since they removed all silver from the US "silver" coins, then in the following decade Nixon "temporarily" closed the gold window (basically defaulted on debt). A few years later in '74 Kissinger brokered a deal with the Saudi's to force all oil sales to be payable only in US dollars. In January the Saudi's join BRICS and are already selling oil in other currencies. So the US dollar is now backed by absolutely nothing except debt and the US debt is approaching 34 Trillion and is unpayable. Japan is a financial basket case with government debt at around 250% of GDP. The euro is a derivative of the dollar so if the dollar collapses so does the euro. Throughout history all unbacked paper currencies have a 100% failure rate and since the 1950's the dollar has lost 98% of it's purchasing power so only 2% to go before it's worth zero. When the reverse repo slush fund runs empty in early 2024, who is going to buy US debt? So should the dollar collapse, how do you propose to pay for those "life necessities" you mention? History has taught us that in any financial collapse gold and silver are the only accepted real money. They have been for around 5,000 years and always will be in any crisis. People say "you can't eat gold and silver", but unless you already have all the essentials for living what are you going to use to trade for these essentials?
You could be right, especially with all of these price spreads between buy and sell. Years ago, it was much simpler. There was the spot price and on average the customer buying paid roughly 2% above spot and the customer selling received about 2% under spot. Ever since around 2007, premiums have not been consistent in commensurate with the spot price.
I want to buy metals, but I probably won't or maybe just a couple of ounces of gold to admire and pass down. Gold is like jewelry, its not needed. If it was needed, it would not be made into coins an bars for trade it would be used for what it is needed for. The powers in control will never let it become money again and if it does then it will after bloodshed, where that will be the time to worry about obtaining it, not before. What the video shows is that other countries want our gold n silver more than our local shops want it.
The powers in control could not could not let gold and silver be used in coining money again even if they wanted to because 1) there's not enough to make an ample coin supply and 2) over time, the value of the metal would increase to where the metal is worth more than the face value issued on the coins and eventually the coins would be hoarded. It's a lose-lose situation.
Lcs were raking it in charging 22 to 26 in my area bc covid $ and silver interest was a buzz. Parents generation were all dumping bags saying "real money 30$ silver imminent" my generation thinking the same way about crypto. So guess I'm holding the bags for a another decade or 2 lol
How long did you have it? You should not expect to be able to turn it around for a quick profit. Furthermore, despite platinum's rarity versus gold and silver, it doesn't have the appeal or demand from most people who stack.
@@stanleykijek6983 i cant remember exactly how long, but it was a good while. Agreed on your points. The issue was that it was just way overpriced just like every other metal. the only ones that really make any money with this stuff is the wholesalers. That being said I didnt really buy it to make money but after watching the prices a long time I thought I better go ahead and get rid of it because there was no way I was gonna even get close to what I spent. Gold and silver you can make some money if you can sit on it long enough, platinum i dont see that happening unless you have many years to sit on it, then you have to find someone to sell to which presents its own challenges.
@@insomthegreat honestly i wish i had bought some when it was like 250 oz and sold it when it was around 3k oz lol but yeah, i am not interested in palladium or platinum right now. Just sold my platinum because of it being so hard to resell. I am focusing on gold and silver from here on out.
It depends upon how long dealers have to hold on to that inventory. If you're in business, you're not going to make money having your product or service just stagnate with no customers coming to you to buy them. You'll eventually have to shut down and perhaps go bankrupt, depending upon how well or poorly you managed your money while being in business. Same applies with coin dealers. If they have too much of something at a time demand is weak, they need t hold back on buying, or, offer a very low price in which the seller will have to decide whether to sell or not.
Depending on the time of year, a person who's been buying on the dips the last few years can probably make between 100 and 200 dollars profit on 1000 dollars. It's not much, but it at least insures one can make their money back as a hedge of protection, and if they need to convert it to cash fast. It's about the same for gold. In comparison, something like crypto can result in a huge loss, if one needs to sell.
I bought 20 blast white uncirculated 1964 Kennedy Half Dollars for $202. It's not easy to get sweet 64 Kennedys too cheap so I think I did ok with the price. I certainly didn't get a steal but I did alright I think. They're in the mail but I'm going to test them for authenticity although those Kennedys seem to have that particular bell ring that I can use if I get lazy. I'm going to buy more. They wanted close to $240 a while back when silver was hot. My silver goal for the new year is to purchase 2 rolls of them each month for 24 rolls so it's gonna be fun.
I wouldn't touch a JFK half with a 100 foot pole. They are way too common, even in uncirculated. Anyone paying big bucks because a coin is MS 69 or 70 are suckers.
Just got back into collecting Coins don’t have anything special have a 1936 quarter and a1999 Georgia State quarter with some errors and a few others fun hubby that could get you some money 😂
And that's why I buy cds getting a few hundred dollars a month in passive income bought lots of metals in the past but it's never made me any money oh well maybe someday
Today I called Multiple Coin Shops to find out what they were Paying for 90% Junk Silver AND what they were selling it for! This video shows you exactly why it's important to shop around when buying OR selling your Silver!
Be sure to subscribe so you don't miss out on future videos, and thanks so much for watching!
--Seeker
All the shops near me sell for minimum 25x. Would love to buy from that first shop
Seeker these are the best, all answers from the actual market. The information you give the community is priceless.
The LCS I have been buying from is way less for 90% .I’m paying 16.5x and sill stacking till I hit my goal. It truly does pay to shop around. This was a great video with great info. Please do more of these for the 90% collectors out there.
You're buying junk silver at 16.5X face????
Yes my dealer works on very small margins because he does bulk buy and sell. I also bought and sold a lot with him for quite some time.
A bit more of an act than Mr Seeker generally puts on. I love it. Real substance in these conversations.
Another great show -- you are so good at these LCS calls. I learn a lot. Some of the dealers are really nice people, some not so nice.
Unbelievable they didn’t know that gold went up over $2100
I barely know anything and I knew that!
Probably a head-fake to try to rip you off in some manner...😆
@@johnstuartmill1500 finally someone actually paying attention to the ball. Unless someone owns ETF’s it didn’t make any difference. It was a planned quick sell to boost profits, to force a quick sell. Which would drive price down. Creating a low spot buying environment. I’m buying, how about you? Blessings to all!
Many charts don’t show it
These series are very informative! Keep making such calls and videos!
It seems to me overall demand for bullion is waning. The core stackers are still systematically acquiring; but the casual ones have mostly stopped or are waiting for the next big FOMO news to hit.
Holiday season and end of year financial obligations should keep premiums low for a while.
I travel to a small shop in NJ for 90% - today my total was $1,050.00 - which included;
4 rolls of half dollars at $17.75 x face & 2 rolls of quarters at $17.00 x face. Little shop is always at least $1 - $2 cheaper than other locations. I hear other channels claim buying 90% is not worth it, and use excuse of the U.S. producing over 800 billion coins since its founding… I look at it from supply/demand position. Finding 90% in rolls is getting harder and harder… where as just 10 years ago, you would find one in every roll. Lower supply increased demand, with increased prices pulling up shortly after.
I feel 90% will become extinct in the near future… I just hope the country that is America lives to see that day, Let’s go Brandon
Good info brother!
Bullion dealers have expenses, and families to support. Bullion usually doesn’t have a huge mark up. When spot prices are dropping, dealers have to charge more to cover the loss of the bullion the bought when prices were higher. Blessings everyone!
I said that they have to make a profit in the video, I've never questioned that. But as far as dropping prices to cover losses.... no, that's not how it works. Dealers, at least the good ones, work on replacement costs. If they sell for less than they paid, they can just replace it for less than they sold for, leaving them with the same Silver and the difference.
I know a dozen coin dealers personally, been to many of their houses even. Good Dealers know how the market works and they work in that market.
Glad I sold alot of my 90% a few months back at 24X Times, think I may pick some back up now! Thanks for another great video Seeker!
I really liked the way you handled those calls!
Im not a seller I’m a buyer all the way😂.. I do know pawn shops in my area are taking in way more silver than they’re selling. These coin shops probably do have a lot of inventory. They think it’s weird. $25 is still low for them. But people keep bringing it in. People probably just need money.
Macro economics totally a factor
This information is so practical and useful.
Good acting job - I would of cracked up laughing…
It seems that you might be better off (generally) selling privately right now, at least if you have 90%. Some of those buy prices were absolutely brutal
Great show and info. I'm blessed to have a friend that sells me 90% at spot. I've bought quite a bit and more to go. When I get some extra scratch lol
I’ve been buying Morgan’s for $30-55 each, some I payed more, I asked my lcs what they would buy them back for? They said $12-13 and I asked why do you sell them for so much if you only buy them for that amount? They said because of the premium and numismatic value. I’m definitely not buying them anymore after I reach my goal.
That why I'm buy I to graded older coins, I'm building the Morgan CC set.
There is some really good Facebook groups that you can sell them on and get your money back
I got my Morgan's and peace dollars this past year for $25 each just a few months ago. Some of them are decent year and I looked um up and one could be worth 150 in circulated condition. I think it was my best score all year. I picked up 7 of them.
That’s really low buy back price. They are worth more than that in silver value.
THANKS .. eye opening calls as always
Interesting to see where this is all at right now. Maybe it is a good time to diversify and buy numismatic coins also.
Love your videos, keep ‘em coming !!
Love this series. Keep it up
I am happy to hear pricing have come down, and have seemed to have stabilized. Stacking on I am!
5x spread on 90%. Stay away from that shop for sure. Although 18x for buying it isn't terrible.
I tend to buy UNC junk.. What x number would you put on them? I have been buying some rolls and some loose from 40's to 60's.
These shops all sound honest, they are not ashamed of their pricing. Price can be used to steer behavior.
I’m still stacking my Morgan’s. Unconditional love!!!!
My local shop pays 18x for junk silver and they sell for 19.5x
Super solid shop
no such thing as junk
Sounds like a reasonable buy-sell spread. Anything beyond 2 times the buy-sell spread is too much, even during times of wild spot silver price changes.
Well with over $100 of 90% I would definitely be losing if I decided to sell now so I guess I will hold onto it for a while as Silver is for the long term not short game. Great Video Seeker
I’ll give you spot for your scottsdale silver lol
@@b.o.b3461I appreciate the offer but I definitely can’t sell it for spot. I think I may melt it anyway.
@@cyclonicsilver2773 I’m buying 90% right. The price is right and I believe the 90% will be great if needed for barter.
Personally I would buy now and hold it for about 8 years and see what it is doing then .
My timeline is 15 years… I don’t see how spot price can continue to be suppressed for that long. I’m accumulating as much as I can.
My local shops are the worst in the world all crooks. They offered me $2 over spot for ASE back when they were selling for 40 pluss they offered me $35 to $50 on ms63 morgans that I sold my self for 100 to 125 a had a rare $20 gold double eagle CC they offered me like $100 over spot I sold the coin for $4100
I'm not sure your LCS iz the worst crooks in the world, seems all the dealers I know maintain that same standard of basically paying below spot and not valuing the particular numismatic attributes in their offer ...everyone should have their eyes open ..still my LCS is where I scored so much cool stuff way below what one would pay on online precisely because their margins were lower initially
Where did you sell them yourself at?
Thank you, these are always interesting.
Never thought about flipping gold like a day trader, but if you catch someone unaware on a big purchase, you could come up. I probably never thought of it because it feels shady, and I'm trying to play the long game with valuables and stocks by collecting for a big payoff later. The short sale hustle is real.
The premium has gone away due to sell pressure. Nobody is buying, we advertise locally and end up wholesaling most 90% Majors are paying 50c back of melt for 10c and 25c and melt on 50c. Bought and sold three bags in last week. The government stopped handing out money and people have need to sell. 90% of the calls I get are people selling.
Hey the second guy third guy and 4th guy are all trying to tell you to keep it and this is the exact advice I would give. Most of the time when things like 90% go up is because telemarketing places run with it and tell BS stories and once the rumors slow they drop it and go to the next thing they can rip people on.
My local coinshop dealer knew that vatfree silver was removed from Germany even before I did, which admittingly sucks.
Definitely a time to hold constitutional and add bullion coins. Always shop around.
Great video & information thanks silver seeker
always informative.
Thank you - excellent video
Great info !
Great video. Thank you for sharing.
Thank you
Junk silver prices and premiums always stems from hype and demand and the general stigma surrounding the retail buying side of the silver market, or in other words: "Dumb Money". Now that we just came off the high of $25, demand is obviously going to die off since markets can be irrational. Buy high sell low is the name of the game for most people so the only way you're gonna win is if you think have an opposite mentality.
i feel a little sad, I paid $1,000 for 100 Kennedy 1964. If i were to sell them, they won't give me 20x. I'd get 14? lol
I have about the same, I'm just holding don't sale out of fear.
Thats why its a long term investment
SLV and PSLV not looking so bad lol
Ah this is why I do not collect coins solely for stacking. If I did, I would be a basket case fretting about spot price.
Excellent video
The tone of your voice on the first call 😂😅😅
the lcs's are flooded with silver
I'm buying halves, I'm filling a guardhouse box
My LCS is buying for 15.37 x face and selling for 18.45 x face. And that’s near Portland, Oregon.
During the calls, I loved your demeanor, I'm surprised no one offered you a tissue! Lol, You sound super bummed when discussing the fall in price, idk, maybe acting is your calling!
Lol thanks!
Yeah that first guy could hear the desperation in his voice. So he lowballed lol
Is there any general correlation between 90% silver coin pricing and 1 toz .999/.9999 silver rounds or bars?
Are shops consistent in this or are the pricings completely detached from each other?
Does anyone ever take into consideration that there is new gold and silver mined every day of the week in every corner of the world?
Do you go into grocery stores and tell people they could just grow their own food..?
amazing that none of these shop owners understand the fundamentals behind silver and gold. absolutely astounding
I ask my son if he want some more silver for Christmas he said No. Ok I'll put some in his Easter Basket
Buy him a Playstation. He will be much happier...(just my 2 cents). :)
Mine are in their early thirties and I don’t ask, I just give it to them. They will wake up when the USD goes to zero.
@@silverman5707 Don't count on it.
I click on every video that says I'm will be shocked - haven't got out of this chair in years
Funny nobody asked how much you wanted to sell. I paid $16,000 for a bag and sold it for $17,000 with a phone call. Was happy to make $1,000.
One would think that if they’re high on inventory, they’d sell at a lower multiple.
I'll keep adding and keeping and forgetting. It's not going anywhere, which to me is a good thing.
I think the gold price will be ranged at 2050 - 2150 $wise.
that's the shop profits. Buy Low / Sell High
Small shops have to make money.. Large retailers usually pay more via mail on larger transactions. This was fun though!
I know and I even said so in the vid :) Thanks for watching
Call and find out if one ounce gold coins have a lower or higher buy or sell spread. Thanks.
Buy LOW sell HIGH right now .
so they are paying 13 times face value and selling 18 times face value is that right?
Silver is not a trading commodity, it's to protect wealth. You take 1k ounces into any bank and you can get a personal loan against it. Better option than cash in the bank.
I love it when silver is down, because that's when I buy.
I stopped buy this year. Prices make no sense! I'll just hold it for shtf. Im spending all my extra on BTC right now.
Great video
His sad is funny
Have been stacking for about 2 years and in euros and swiss francs silver spot hasn't done much during that timespan. I think the dollar has just been acting pretty funky in recent years.
Every FIAT currency devalues over time. The Dollar as the worlds reserve currency only devalues slower than the others.
This can be a net positive for Euro-users. If silver prices they the same in Dollars the nominal for Euro-prices will go up, because our currency devalues faster. (:
I paid 27x before. The market has been volatile.
Great piece of acting, you had me depressed just looking/listening to you? 😩
I don't live in US but I'd LOVE to get some of that constitutional silver, especially at those prices??
US stackers don't realize how lucky they are, here in EU we have way less choice plus a 20% VAT on silver.
Having said that, barring a personal financial emergency there is no way any stacker should be selling their PM's.
PM's are not for selling they're for trading for other tangible assets. We know the dollar (and euro, yen, pound etc.) are dying so why would we be swopping real money for a dying currency?
If you're buying silver/gold to turn a profit then you're in the wrong game. We know they keep slapping the PM price down to keep it out of mainstream consciousness but there will come a time when they can't do that anymore, and when that happens Joe and Josephine public will be scrambling for PM's but it will be too late for them.
In the meantime, hold your nerve and forget about the manipulated spot price. Don't play their psychological game and keep stacking. Just my two cents worth.
Absolutely correct. Don’t buy out of fear. Pay bills first, buy silver on the down turns.
This guys have it so good. Here in Europe Silver and Platinum are taxed heavily when you buy them.
I would agree with you about scrambling except that I've been hearing all of this gloom and doom about the US dollar and other currencies for over 60 years now, and guess what? They're still around. We've seen (for those of us who have been around a while) a lot of financial calamities throughout the world during that time (and it goes back even further that that) and the strong countries such as the USA, western Europe, Japan and other nations still proper over time. I'm not saying that it can't happen, but if scrambling ever occurs it will first be be for life's necessities such as food, clothing, shelter, etc., not silver or gold.
@@danobd1355 In the USA, if you sell precious metals, tax rates are at least 28%, far higher than selling equities or other assets.
@@stanleykijek6983 Interesting that you would say "60 years" because it's almost 60 years since they removed all silver from the US "silver" coins, then in the following decade Nixon "temporarily" closed the gold window (basically defaulted on debt). A few years later in '74 Kissinger brokered a deal with the Saudi's to force all oil sales to be payable only in US dollars.
In January the Saudi's join BRICS and are already selling oil in other currencies.
So the US dollar is now backed by absolutely nothing except debt and the US debt is approaching 34 Trillion and is unpayable.
Japan is a financial basket case with government debt at around 250% of GDP.
The euro is a derivative of the dollar so if the dollar collapses so does the euro.
Throughout history all unbacked paper currencies have a 100% failure rate and since the 1950's the dollar has lost 98% of it's purchasing power so only 2% to go before it's worth zero.
When the reverse repo slush fund runs empty in early 2024, who is going to buy US debt?
So should the dollar collapse, how do you propose to pay for those "life necessities" you mention?
History has taught us that in any financial collapse gold and silver are the only accepted real money.
They have been for around 5,000 years and always will be in any crisis.
People say "you can't eat gold and silver", but unless you already have all the essentials for living what are you going to use to trade for these essentials?
HOw could he not know that gold went over $2100 per oz
shop no. 4 was the best by far. most everybody should be in that range. as for the gov. FJB!
I have 0% desire to own any 90% silver. I don't have any of my stack and probably won't purchase any. I just don't think it's a good value.
You could be right, especially with all of these price spreads between buy and sell. Years ago, it was much simpler. There was the spot price and on average the customer buying paid roughly 2% above spot and the customer selling received about 2% under spot. Ever since around 2007, premiums have not been consistent in commensurate with the spot price.
Gold was up and the. Went down so fast I almost missed it as well.
The first csll realized it just didn’t acknowledge that he knew it
Good info for sure.
That is a huge spread ridiculous. Don't deal with them.
I want to buy metals, but I probably won't or maybe just a couple of ounces of gold to admire and pass down. Gold is like jewelry, its not needed. If it was needed, it would not be made into coins an bars for trade it would be used for what it is needed for. The powers in control will never let it become money again and if it does then it will after bloodshed, where that will be the time to worry about obtaining it, not before. What the video shows is that other countries want our gold n silver more than our local shops want it.
The powers in control could not could not let gold and silver be used in coining money again even if they wanted to because 1) there's not enough to make an ample coin supply and 2) over time, the value of the metal would increase to where the metal is worth more than the face value issued on the coins and eventually the coins would be hoarded. It's a lose-lose situation.
If junk is at 18 it does seem good to add
Why the discrepancy in Buy/Sell?
It’s the same in Buying/Selling anything. A person who’s making a living on both has to make a profit.
Lol OBVIOUSLY no one is questioning that... you missed the point.
I understand a little spread but they seem a little extreme. The last shop seemed much more reasonable.
These days, a 2 times spread between buy and sell for 90% is a reasonable and fair price for buyer and seller.
Lcs were raking it in charging 22 to 26 in my area bc covid $ and silver interest was a buzz. Parents generation were all dumping bags saying "real money 30$ silver imminent" my generation thinking the same way about crypto. So guess I'm holding the bags for a another decade or 2 lol
What’s with this new trend of the silver price going up and down like a roller coaster…so different than usual.
Manipulation.
i bought a half oz of platinum, took it hard and dry on the resale, never again on platinum for me
How long did you have it? You should not expect to be able to turn it around for a quick profit. Furthermore, despite platinum's rarity versus gold and silver, it doesn't have the appeal or demand from most people who stack.
@@stanleykijek6983 i cant remember exactly how long, but it was a good while. Agreed on your points. The issue was that it was just way overpriced just like every other metal. the only ones that really make any money with this stuff is the wholesalers. That being said I didnt really buy it to make money but after watching the prices a long time I thought I better go ahead and get rid of it because there was no way I was gonna even get close to what I spent. Gold and silver you can make some money if you can sit on it long enough, platinum i dont see that happening unless you have many years to sit on it, then you have to find someone to sell to which presents its own challenges.
You interested in some paladium?
😂😂😂😂
@@insomthegreat honestly i wish i had bought some when it was like 250 oz and sold it when it was around 3k oz lol but yeah, i am not interested in palladium or platinum right now. Just sold my platinum because of it being so hard to resell. I am focusing on gold and silver from here on out.
I dont know how good silver and gold is if the world falls apart who is going to care about a chunk of mettal only thing that would matter is food.
8:30 I can believe they have too much inventory. People need money, the credit cards are at max, so they're selling what they've got.
It depends upon how long dealers have to hold on to that inventory. If you're in business, you're not going to make money having your product or service just stagnate with no customers coming to you to buy them. You'll eventually have to shut down and perhaps go bankrupt, depending upon how well or poorly you managed your money while being in business. Same applies with coin dealers. If they have too much of something at a time demand is weak, they need t hold back on buying, or, offer a very low price in which the seller will have to decide whether to sell or not.
Unless you're trying to make a collection on the side, junk silver just seems like a hobby compared to stacking rounds.
I would love to hear you call a certain shop here in Abilene texas that will go un named. They are absolute THIEVES.
Geez what a bunch of vultures at first shop.Not Really excited about 90% with shops ripping off so hard.
Hope to get a call one day. Lol😊
The average Joe collector like myself won't make a dime until it reaches ~$35 an ounce 🤨🤷♂️
Depending on the time of year, a person who's been buying on the dips the last few years can probably make between 100 and 200 dollars profit on 1000 dollars. It's not much, but it at least insures one can make their money back as a hedge of protection, and if they need to convert it to cash fast. It's about the same for gold. In comparison, something like crypto can result in a huge loss, if one needs to sell.
Same here
I bought 20 blast white uncirculated 1964 Kennedy Half Dollars for $202. It's not easy to get sweet 64 Kennedys too cheap so I think I did ok with the price. I certainly didn't get a steal but I did alright I think. They're in the mail but I'm going to test them for authenticity although those Kennedys seem to have that particular bell ring that I can use if I get lazy. I'm going to buy more. They wanted close to $240 a while back when silver was hot. My silver goal for the new year is to purchase 2 rolls of them each month for 24 rolls so it's gonna be fun.
I wouldn't touch a JFK half with a 100 foot pole. They are way too common, even in uncirculated. Anyone paying big bucks because a coin is MS 69 or 70 are suckers.
Just got back into collecting
Coins don’t have anything special have a 1936 quarter and a1999 Georgia State quarter with some errors and a few others fun hubby that could get you some money 😂
How much is I live in london im from south Europe 🇪🇺 medeterian
And that's why I buy cds getting a few hundred dollars a month in passive income bought lots of metals in the past but it's never made me any money oh well maybe someday