WOW! Hit the $40 mark "silver"

Hell! I can't give money away. Ran an add on Craigslist locally in Gainesville Florida. Ad as follows;
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I have $100 face value 1964 and earlier 90% silver dimes. Let's make a deal and cut out the middleman, and save us both some money! Silver sellers who are dealers want to buy at well less than actual value, and to sell at well over actual value. 90% silver coins value is computed with the following formula; face value X .715 X spot value for 1 ounce of 99.9% pure silver. Check Silver spot, and then see what local dealers want to charge you. I bought low some time ago and need to generate some cash fast but am not willing to get shafted. Current spot at 11 AM is $46.01. I am willing to sell $100 face for $3200, or $50 face for $1600, or $25 face for $800. Let's make a deal!<!-- START CLTAGS -->
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2 days one nibble but no bite. Decided to do a reality check on Ebay on recent sales (all today). 33 ounces of 90% silver coins sold for a total of $1491.03. Those fools actually paid $50.20 per ounce for pure silver. ($45.18 per ounce for 90% silver). That was 26 sales transactions. Some others were sold by face value. $18.20 face sold for $678.57. That was 7 transactions. Actual value was $606.89
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All these fools are buying at well over spot, and the local dealers want to screw me. I offer on Craigslist because I don't want to deal with shipping and get no real interest. Go figure. Who would have thought it that you couldn't give money away......I think I will get drunk!

 

First $1,000 bag I bought in 2003 was 3,599.

 

I started buying t $25 a few months ago. I just wish i had more cash at the time.

 

Traditionally, gold has been valued at 16X silver. With gold around $1500.00 per ounce, silver should be around $94 per ounce. Silver has gone up over $!.00 per day for the last 4 days! With the price of PMs, fuel, and food climbing the way that they are now,
it's a good time to be a prepared 'monkey!

 

I never had much in the way of PMs. Only got in about a year ago buying just $100 face for $1000 on Ebay because I didn't know any better. Could have invested $15,000 at the time. Ain't hind sight grand? In wanting to be a much more prepared Monkey, I am still trying to sell that $100 face so I can purchase a "Simple manual well pump", and a high efficiency Drolet 85,000 btu wood stove. I will either sell today at a local dealer, or post on Ebay. I am trying to sell before the next dip due to profit taking.

 

I sold some Tuesday at 30 X face value, I have found a local dealer that is pretty reasonable.

 

Grey Wolf, lucky you have a dealer like that in your neighborhood. In my neighborhood, the dealers are even worse than the govt. they offer 30-50 percent of it's actual worth. I went into sell some 40 percent halves he offered me 2.50 each. when they were worth just under 6 each.

I asked if he'd trade them at 5.00 each for some 90 percent silver. he said no he'd only go 2.50 on trade too.

I wound up selling them on ebay at 6.50 ea (over spot by nearly 10 percent so that covered the then ebay fee of 9 percent).

lots of crooks in the D. very few reputable PM handlers here.

I've got 1 though that buys at spot+5% to spot -5% depending on his qty on hand and orders outstanding. Typically sells at spot+3% to spot+5%

But it's an hour and a half drive to his location. Don't get there very often.

 

Care to mention the town in which this selling resides? Better yet, a name?

 

Linkville coins & Antiques
131 S. 6th St.
Klamath Falls, Or
(541) 850-4464
Bob & Gayle Busby

 

Brighton coin off main street.
i also have used Ann Arbor Stamp with decent success.

As I'd mentioned I don't get there very often so ymmv.

but there is a place in highland michigan S&G coin off milford road. I'd avoid that place like the plague.

Just my 2 copper washed zincs

 

Silverware content...
The best way to tell if you have “real” silver is by the markings that indicate its purity. Most sterling silver will have a stamp of S, SILVER, 925, or .925 SILVER.
925 silver is sterling silver meaning that it is made with 92.5% silver and alloyed with 7.5% of another type of metal.
Possibly another source for silver??

 

It is an excellent source of silver, at a relatively low cost. especially from garage sales and estate sales. It is nearly pure, and when correctly marked, it is easy to prove the content. I watched a great video not too long ago...posting below:
YouTube - Sterling Silver Scrap

 

At $41.86 I might just say WOW! again if it hits $40 after going up over $49 last week.

Oh how I wish I had money to buy alot of it now.

 

Watching the fiat price is fun, but it does not change the fundamentals. The market is heavily manipulated, and the three unannounced margin hikes have shaken out the weak hands on the paper side. The point being, the dollar is still in the tank. Physical silver and gold retain their intrinsic values. When the market is as heavily manipulated as the silver market is, these swings are normal and expected. It is still far above the 17FRN/ounce price from not to long ago. Buy and hold physical. Fiat price is a joke.

 

Agreed.

I'm actually glad to see it cool off a little. Those dollar up a day, day after day, were getting unrealistic. I'd like to see it consolidate a good base in the mid 40 range, setting the stage for the next move upward. That's been the pattern for quite a while ( w/o such a high upward spike )