Your example from eBay costs 122 and the melt value of 50 dimes is ~50x1.91 = ~96$ so one is paying 26$ premium over melt value. How much above melt value does junk sliver go for? Just trying to learn and understand better. Thx

Yes PSLV could absolutely have an upside in the range of 10-50x. $15 is much more attainable in the short term because we can reach that without silver skyrocketing. I think all we need is to bring the $10 heavy resistance level. To have a 10-50x in PSLV, silver will need to skyrocket. Yes it is fundamentally different with ETFs that are physical based compared to equity based. Since PSLV has even a larger inventory of silver than the COMEX, if silver goes way up, you can request delivery from PSLV. Also PSLV can play the futures market and request delivery on a none delivery month and roll the contract to a delivery month. When they request delivery from the COMEX, they set the price of the silver right then and there for that contract. What's crazy is if the are set to receive say 25 million ozs from the short, if they short doesn't have the silver, they will have to go to someone like JP Morgan/someone who has enough silver in the "eligible category on the COMEX" and buy the silver at a higher price just to be able to deliver.

I haven't heard if the creators of PSLV can ask for silver when they leave. I would imagine they could though since they themselves have stake in it. They would be able to stand for delivery, which yes could possibly drive the price up.

If you keep watching and paying attention you can snag deals on junk for around a $100 per $5 face average. The deals will pop up and not last long though..

Make sure not to get bamboozled on price with mingled in war nickels and 40% Kennedy halfs

Yes the example I posted may not be the cheapest out there. That example was just to show what the description of junk silver is like when you go to buy and what the coins look like. Before covid and now before the silver shortage, you could pick up junk silver for just over spot price and sometimes under spot. Junk silver premiums have gone way up lately because of such high demand. I looked around and that price seems to be be about the going rate for 90% silver right now. To me that is pretty high. I myself wouldn't pay that much for it. You can find deals maybe in the 12-$18 premium but they are rare and even that is high. I miss the days of getting junk silver at spot price haha. Nevertheless they are really good to have. Every time I grab a handful of silver dimes... it just makes me think that one point in time our country had the idea of sound money, instead of the printing press.

I would say that 1 oz generic rounds and bars are probably the best plays right now. Also government minted coins that have lower premiums than silver eagles are good too. But if you find a great deal on junk silver, do not pass it up!

Ummmmm yeah that is a incredible story!! Thank you for sharing. I wait for the day I can do that for my loved ones! Can I ask a favor of you... could you join WallStreetsilver and share that story with their 72,000 followers? They would absolutely LOVE to hear such a cool story.

So it seems like this is a good deal for junk silver, then?

https://sdbullion.com/90-percent-silver-10-dollar-face-value

HarleySpoon said:

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Fun story: I spent two summers on my banana seat, one-speed bike exchanging rolls of coins at the four banks in my hometown extracting junk silver that made its way back into circulation....this was in the early to mid seventies. I also bought junk silver with every penny of savings I had accumulated from relatives' birthday gifts etc. About the same time, my father became disabled and my parents became financially desperate. Around nine months later the Hunt's did their thing and I sold everything I had at 30 times face...and paid off my parents mortgage for them at the age of 12.

Junk silver continues to hold a special place in my heart.

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Wow!!

Yes that is a much better deal. I still wouldn't say it's a great deal but a much better one. Only if you pay by check/wire though. If you pay via CC it's not a good deal.

1 oz generic rounds and bars still have better deals but if you just want to get a roll of junk silver, that may be the best price right now. You could wait a few days for better deals but those may not come up. It's hard to tell in the climate we are in.

Isn't your investing premise that silver has to rise once the Fed/Chase stop manipulating the price?

If that's correct, what causes you to believe that they will stop manipulating the price anytime soon?

Outdoorag011 said:

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Ummmmm yeah that is a incredible story!! Thank you for sharing. I wait for the day I can do that for my loved ones! Can I ask a favor of you... could you join WallStreetsilver and share that story with their 72,000 followers? They would absolutely LOVE to hear such a cool story.

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I'll check that website out.

Outdoorag011 said:

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I would say that 1 oz generic rounds and bars are probably the best plays right now. Also government minted coins that have lower premiums than silver eagles are good too. But if you find a great deal on junk silver, do not pass it up!

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This is going to be my focus for a while.

Is there a legit reason to buy BU coins (or current year coins) over other options? I'm not necessarily buying as a collector, just as an overall investment.

Thanks for all the info!

Jabin said:

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Isn't your investing premise that silver has to rise once the Fed/Chase stop manipulating the price?

If that's correct, what causes you to believe that they will stop manipulating the price anytime soon?

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I don't know much about this particular situation, but my general belief is that manipulation extends the period of time in which asset values are unrealistic, and the longer the manipulation is successful and the more complex the measures to sustain it, the worse the correction is.

I think I didn't ask my question clearly enough, but you answered it indirectly. Thanks.

I wouldn't say it matters per say.

An oz of silver is an oz of silver.

However, certain years of certain coins can carry very high premiums. Just go look at what SD bullion sells older eagles for compared to 2021. 10 dollar differences at least. So if you were to buy some of a certain year, you can possibly get a higher return when you decide to convert to fiat or gold.

Excellent info and thread OP. Thanks

Outdoorag011 said:

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Yes that is a much better deal. I still wouldn't say it's a great deal but a much better one. Only if you pay by check/wire though. If you pay via CC it's not a good deal.

1 oz generic rounds and bars still have better deals but if you just want to get a roll of junk silver, that may be the best price right now. You could wait a few days for better deals but those may not come up. It's hard to tell in the climate we are in.

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I'm seeing 90 percent junk silver selling for about 25 percent above melt value today on a quick google search. Seems like a high premium.

APMEX has Buffalo Rounds for $31.72/oz right now. Should I wait or is this a good deal?

That's a pretty fair deal with spot price almost $27

Not a bad deal at all. Make sure you pay by check/E-check to get the best price.

Yeah that's high. I would avoid those. I'm avoiding junk silver and silver eagles right now. The premiums are way to high

That's only part of it. Silver will rise as world governments continue to print money and real yields become even more negative. Silver is vital to our tech based future. Demand for silver is WAY more than supply can handle. What people don't realize is yes we can't just "add more mines". Mining operations take 2-5 years to come on line and find high enough grade metals to use. Silver will rise no matter what. It'll have it's fair share of beatdowns from the banks. If the manipulation ended, that's when you see 4 digit silver. We can still rise while they manipulate it but it won't be as much or as fast.

Metals looking good!

HarleySpoon said:

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Fun story: I spent two summers on my banana seat, one-speed bike exchanging rolls of coins at the four banks in my hometown extracting junk silver that made its way back into circulation....this was in the early to mid seventies. I also bought junk silver with every penny of savings I had accumulated from relatives' birthday gifts etc. About the same time, my father became disabled and my parents became financially desperate. Around nine months later the Hunt's did their thing and I sold everything I had at 30 times face...and paid off my parents mortgage for them at the age of 12.

Junk silver continues to hold a special place in my heart.

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Whether this is entirely true or not, this should be a movie.

Do any of you guys/gals ever purchase sterling silverware? I'm considering searching for it more often and seeing what kind of deals that I can find.

I personally have not but I wouldn't be surprised if you found good deals. Keep us updated if you find some.

One note from history about sterling and 90% from the Hunt days when silver zoomed really fast:

The sterling and 90% came flooding in and the smelters were backlogged for months. Not wanting to get caught upside down if it declined, sterling and 90% started trading at about a 25% discount to spot.

I still like 90% and I bought a set of sterling flatware at spot last Fall from a friend that needed $$$. But I would be extremely cautious about sterling or junk if you are planning or possibly need a fast exit in times of rapid run ups.

Sorry about triple post.....heretofore my posting record has been sterling. That's what I get for posting from an auto repair waiting room.

If you only had one ounce of gold....would you guys recommend trading it for ~60 ounces of silver? Seeing as the ratio is in favor of silver.

HarleySpoon said:

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Sorry about triple post.....heretofore my posting record has been sterling. That's what I get for posting from an auto repair waiting room.

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I see what you did there.