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Any old-time silver buyers here?

slackercruster

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Has the premium for silver gone up over the last few decades?

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EO 11110

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premiums have been outperforming the metal lately
 

ttazzman

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premiums have varied for years...i was around for the 1980 run up.......premium swings seem to have developed higher highs as the years progress...i attribute this to the over all destruction of physical silver in the system ..IE in the past there were vast amounts of silver in government hoards and physical coinage, camera film industry, over time those reserves have depleted putting more pressure on the current stocks and mining, creating greater swings since there are less buffers

sometimes its hard to people to grasp what drives premiums..........premiums are driven by ONE thing and that is replacement cost of silver in stock......and that simply means how much money does it cost to get joe blow silver holder to sell some of his silver for dealers to replace stocks on their shelves for sale
 

TAEZZAR

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Any old-time silver buyers here?​

Does 1968 qualify me as an "old-time silver buyer"? I was "buying" 90%, by collecting it when only 1% of the people, or less, knew that our coinage had been compromised. No premiums on that back then (free market)!!! :2 thumbs up::2 thumbs up::2 thumbs up::gracious:
 

TAEZZAR

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Does picking silver dimes and quarters out of change in the early 1970s count? Way more dimes btw.
Sure, that was "kindergarten" coins, on my way to "high school".
My only records that did not get burned were:
1998 I bought American Eagles at $4.93/T .oz + $1.75 premium, my other silver coins were $0.22 premium !
 

Fatrat

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When I started around 2004, silver was 50 cents over spot for bullion and a buck for eagles or maples...
 

rte

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How old are we talking?
Silver at $4 and a dollar over spot...I don't exactly remember the year.
A dollar over spot was the normal as silver prices climbed.
Recently I hear it's $3 $5. And more over spot on considered generic stuff.
It's your dime, buy what you like.
 

Unca Walt

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premiums have varied for years...i was around for the 1980 run up.......premium swings seem to have developed higher highs as the years progress...i attribute this to the over all destruction of physical silver in the system ..IE in the past there were vast amounts of silver in government hoards and physical coinage, camera film industry, over time those reserves have depleted putting more pressure on the current stocks and mining, creating greater swings since there are less buffers

sometimes its hard to people to grasp what drives premiums..........premiums are driven by ONE thing and that is replacement cost of silver in stock......and that simply means how much money does it cost to get joe blow silver holder to sell some of his silver for dealers to replace stocks on their shelves for sale
The above ought to be taught in all colleges.

I've used the same LCD for 30+ years. The guy makes a living on the vigorish of PM sales. He does not set the prices he pays to his suppliers.
 

TomD

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I'm not sure what spot really means but it isn't a market derived consensus value. I've noticed that when spot is lower than the consensus value, sometimes much lower, premium covers the spread.

I remember being outraged when a local coin shop wanted a $1 premium on $8 silver.
 

TAEZZAR

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The above ought to be taught in all colleges.

I've used the same LCD for 30+ years. The guy makes a living on the vigorish of PM sales. He does not set the prices he pays to his suppliers.
YUP !!!! :2 thumbs up::2 thumbs up::2 thumbs up:
 

Goldbrix

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premiums have varied for years...i was around for the 1980 run up.......premium swings seem to have developed higher highs as the years progress...i attribute this to the over all destruction of physical silver in the system ..IE in the past there were vast amounts of silver in government hoards and physical coinage, camera film industry, over time those reserves have depleted putting more pressure on the current stocks and mining, creating greater swings since there are less buffers

sometimes its hard to people to grasp what drives premiums..........premiums are driven by ONE thing and that is replacement cost of silver in stock......and that simply means how much money does it cost to get joe blow silver holder to sell some of his silver for dealers to replace stocks on their shelves for sale
I remember hearing about people scavenging hospital dumpsters for X-ray films the hospital no longer needed as records, and folks selling the films for the silver content.
 

ttazzman

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I remember hearing about people scavenging hospital dumpsters for X-ray films the hospital no longer needed as records, and folks selling the films for the silver content.
Yes there used to be millions of ounces of silver flowing around in the film developing industry being used and recycled constantly...talk about a industry that collapsed in a hurry WOW
 

Joe King

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Silver at $4 and a dollar over spot...I don't exactly remember the year.
That's about what I remember from the early '90's. About $4 with a $1.80 spread. $0.90 over for sell, $0.90 under for buys.
...and that's approx a 25% premium. Not much different from what it's been recently. Edited to add: other than for Eagles, that is.