Morning everyone....
Just when you think things couldn’t get any worse......
These numbers are NO WHERE near real. Where I am working currently, there is a Buy Gold place, and two coin shops within ten minutes.
I hit all three of them while I am waiting on the electrician and plumber to get out of my way.
None of the three places had much in the way of silver. The Buy Gold place had a handful of ten ounce very beaten up bars, and some colorized one ounce bars for sale. His sell price on silver is $34 an ounce and wasn’t negotiable at all.
The two coin shops were 100% out of any silver rounds or coins. No semi numismatic coins either. The closest they came to silver were a handful of proof silver American Eagles.
Gold was readily available at the buy gold place. But his sell price was $1875 per ounce. The two coin shops didn’t have much gold either. The one had two gold Buffalo coins and was asking $1950 for each. The other had tube of 2020 gold Maples. They wanted $1960 per coin.
All three places will buy silver for $2 over spot for generic. The Buy Gold place was the same for American Eagles. The two coin shops told me they’d pay $5 over spot for a BU American Eagle.
But let’s look at the complete ASS POUNDING metals are taking right now....
Gold is down almost $40, silver is down almost a dollar.
Then I just checked Apmex for ten ounce bars and ASE. Here’s the reality.....
As you can see from the screenshots. Silver is sitting at $26.51 as I type this. Yet Apmex is charging nearly $34 an ounce for a ten ounce bar. And nearly $42 an ounce for an American Eagle currently.
The CEO of the largest Mint in the United States said Thursday that there is NO silver grain (shot) to buy currently in the United States. That was a quote from the Scottsdale Mint.
If there is no silver to buy for a huge mint like that, how is it possible that silver has dropped almost one full dollar today already?????
THIS IS STUPIDITY.....
Can’t blame the dollar, the index still stands at over 90.5. Can’t blame the stock market which is down nearly 1% for the day.