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horgad
1000+ Penny Miser Member
USA
1641 Posts |
 Posted - 09/16/2008 : 19:48:03
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Junk silver just made a huge jump at Tulving. Junk silver is now at spot + $1.09!!! $2.00 over spot for pure silver bullion is starting to look cheaper all the time.
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 09/16/2008 : 20:45:24
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| That sucks as a buyer. =/ I want more junk silver, but I decided to complete my 1999-2008 silver proof sets. |
Trolling is an art. |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 09/17/2008 : 02:34:21
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quote:
Originally posted by horgad
Junk silver just made a huge jump at Tulving. Junk silver is now at spot + $1.09!!! $2.00 over spot for pure silver bullion is starting to look cheaper all the time.
Yeah--I think we have reached the point where "spot" is not really spot anymore...very soon, things will change... |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 09/17/2008 : 03:32:50
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quote:
Originally posted by kavajava
quote:
Originally posted by horgad
Junk silver just made a huge jump at Tulving. Junk silver is now at spot + $1.09!!! $2.00 over spot for pure silver bullion is starting to look cheaper all the time.
Yeah--I think we have reached the point where "spot" is not really spot anymore...very soon, things will change...
Are you saying that spot will be redefined at what the market will sell for rather than the more traditional pricing relative to scarcity of silver or to the U.S. dollar? |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/17/2008 : 05:18:55
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quote:
Originally posted by Nickelless
quote:
Originally posted by kavajava
quote:
Originally posted by horgad
Junk silver just made a huge jump at Tulving. Junk silver is now at spot + $1.09!!! $2.00 over spot for pure silver bullion is starting to look cheaper all the time.
Yeah--I think we have reached the point where "spot" is not really spot anymore...very soon, things will change...
Are you saying that spot will be redefined at what the market will sell for rather than the more traditional pricing relative to scarcity of silver or to the U.S. dollar?
people like Apmex are buying above spot, so they figure they can sell at even higher prices above spot, at least in the short run.
in the short run, you may be better off buying the ETF which trades very close to spot, then cashing out when the physical premiums get back to normal. of course, if you have no physical you risk never getting any by holding only paper. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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n/a
deleted
51 Posts |
Posted - 09/17/2008 : 08:34:15
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I have only been playing the (silver) PM game for the last two months so I can't answer this off the top of my head like a lot of you can, but what was "normal" for 90% previously? And, how would you have determined that? Wasn't it the same way that it's being determined now.. supply & demand?
Maybe 90% has been undervalued in relation to undervalued bullion? I know that last week to get 90% locally I had to pay 9.5x face. Clearly I should have bought from tulving, but I'm learning as I go and I'm betting I represent only a small number of recent (and I hope future) silver buyers.
Not trying to ask loaded questions or anything, just curious & coming from a Joe-Gin&Tonic point of view (one notch more astute than J6P?). |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 09/17/2008 : 08:57:52
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| Well normal for 90% silver is below spot b/c its not .999 silver its 90% So to sell above spot is abbynormal for junk silver |
Inquiring minds want to know |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/17/2008 : 09:17:05
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quote:
Originally posted by JD4x4
I have only been playing the (silver) PM game for the last two months so I can't answer this off the top of my head like a lot of you can, but what was "normal" for 90% previously? And, how would you have determined that? Wasn't it the same way that it's being determined now.. supply & demand?
Maybe 90% has been undervalued in relation to undervalued bullion? I know that last week to get 90% locally I had to pay 9.5x face. Clearly I should have bought from tulving, but I'm learning as I go and I'm betting I represent only a small number of recent (and I hope future) silver buyers.
Not trying to ask loaded questions or anything, just curious & coming from a Joe-Gin&Tonic point of view (one notch more astute than J6P?).
Tulving prices for junk silver were for years slightly under spot (maybe 10 cents). The theory on junk silver (old 90% coins) is that to recycle them that they would have to be refined and that costs money. So junk silver sold for a small discount to spot.
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n/a
deleted
51 Posts |
Posted - 09/17/2008 : 10:03:41
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quote:
Originally posted by horgad
Tulving prices for junk silver were for years slightly under spot (maybe 10 cents). The theory on junk silver (old 90% coins) is that to recycle them that they would have to be refined and that costs money. So junk silver sold for a small discount to spot.
Thanx. That's what I figured from reading these & other posts.
So I'm thinking that 90% really was/is undervalued relative to bullion in this expanding average-Joe market (silver awakening). If so, that makes sense to me as average-Joe who's thinking SHTF (or perilously close scenario) because it would be one of the basic common exchange standards, simply by virtue of commonly needed value & known content standard. Make sense?
Again.. pardon me if I'm talking out loud & restating the accepted obvious. |
Edited by - n/a on 09/17/2008 10:04:51 |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/17/2008 : 11:15:14
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i thought i remember 90% junk being 50 cents below spot not that long ago on tulving. now, tulvign does not subtract for wear. for example, i think a thousand face theoretically works out to 715 ounces, and that is what he charges. in reality, it averages 712 or 713 ounces because the coins are worn, and some folks charge off of 712 or 713.
used to be able to get bullion for less than 50 cents over spot, and eagles for a buck fifty over spot. rounds somewhere in between.
canadian was always a bit higher because its more pure and is taxed more favorably outside the u.s. becuase of the purity. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/17/2008 : 13:39:52
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quote:
i thought i remember 90% junk being 50 cents below spot not that long ago on tulving.
You are probably right. I remember it being a bit below spot, but not the exact number. |
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Junk Silver Premium Jump
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