The Weekly Trip To The Coin Store
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Just a little more Constitutional Silver unto the stack. Again, I wish to remind you all, that the Proof Sets sold by the US Mint offer no premium when it comes time to sell your silver. I picked up four formerly Proof Roosevelt dimes today, as well as four Washington Quarters to round out one full ounce of Constitutional Silver.
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I paid a premium of $5.50 over the spot price of silver for my latest addition to the stack. The generic rounds were $5.00 over spot and foreign sovereigns were $6.00 over spot.
The store was asking for $10 over spot for the American Eagles.
The supply of silver was plentiful this week.
It has been awhile since I commented on the Gold Mining shares.
Do you want to guess where the HUI is trading these day?
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If you guessed around the 252.43 level (the green line on the chart) then you would be correct. The mining shares are once again dancing with this very important level, as they did in March of this year and once again for the past few months.
The miners are still oversold BUT we shall see what happens after next week's Federal Reserve meeting. My general assessment is above the 252.43 level is Bullish and below is Bearish, at least to my eyes anyway.
There is so much financial and political nonsense going on the world right now that every day shall be a new adventure in the ridiculous to the sublime.
All I can say with absolute certainty is I just added another ounce to the stack.
Peace out and Stack On!
Nice proof dimes. But $5 over spot is a lot for constitutional.
Absolutely, everything is going up!
Wow
I just got back from a different coin shop from my usual and I got 20 Canadian 'Confederational?' Dimes 80% at $8 USD/oz over spot. I'm building a customer relationship so I didn't dicker over the price even as I got a few nice coins with the lot. I got a lot of great info, and next time the dealer will give me a little break as a return customer.
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It is amazing how much the premiums have gone up and interestingly, to me anyways, is that the Constitutional silver has a HIGHER premium than the generic rounds which is a rather new development. Glad to hear that you got your fix of silver.
Still itching for a Roll of 2022 Leafs. I know SGB Canada just got them but they are higher priced than of my Go-To Bullion Retailer and so far she admitted that their ETA is unknown and that the Mint is far behind in order fulfillment. Shortage? 🤔
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"Mah LCS isnae followin' th' spot price which is annoyin'! Silvers goes up, silver goes doon, sam offerin' price. Tak's th' fin roarin' fu'! We tint a very nice LCS durin' th' pandemice- loov'd hoo they used tae price their coins, signs in th' showcase: $3.50 ower spot, $2.50 ower spot, $4 ower spot, etc. Nice." -Keptin
Thanks for sharing, @handofzara. The Local Coin Shop, in my neighborhood, sells Modern, Silver Proof dimes, quarters & halves, for exactly, the same price, as average, circulated, "junk" 90% Constitutional Silver. They bust open US Silver Proof Sets, when they take up too much storage area space. Crazy, but true. They once sold me a box full, of about 50, Clad (not Silver) Proof Sets, for face value, just to get rid of the bulk-wasted-space. They only buy it, when it is part of a whole coin collection. The Dealer suggests, to the seller, to give it to their young kids, grandkids, gift-it, etc... Yes, it can be very disappointing.