I had half the day off today, and my doctor canceled their appointment with me due to an emergency, but there was no way I was giving the time back. I went out to lunch instead and then stopped by the local coin shop to see how things have changed since it's been quite some time since I visited.
The last time I was there, they couldn't keep silver or gold on the shelf. There was a perpetual order backlog, and they were paying $1.50 over spot on silver to anyone who wanted to sell it.
Fast forward to today, and the case is full. I saw multiple 100oz bars in the case, multiple boxes of assorted 1oz rounds, coins, etc. There were a dozen or so 1/10oz gold coins in flips, and to the right were multiple boxes of 90% silver quarters, dimes, and half dollars. Talk about a selection!
If I had to guess, inflation was taking its toll, and people have been selling to make ends meet. I don't blame them one bit. Out of curiosity, I asked them what they were paying for silver. They told me they were paying $0.50 under spot! What a change!
They clearly weren't desperate to get their hands on silver, as supply seemed to be outpacing demand. I looked around and didn't see anything that I had to have, so I spent a few minutes browsing while walking around a couple of people selling, and then I left.
I'm curious what everyone else is seeing locally. Are you still seeing a lot of demand or more people selling?
Anyone who answers this question in the comments will be entered into a drawing to win 10 HSBI after this post pays out.
Are you new to Hive, or know someone new to Hive, and want help and support?
Have you been on Hive for a while and want to help new Hive members? Join HOC and help us grow Hive and encourage new members!
