What is going on that they almost have no junk silver it is all pre sale?

High demand? The supply is finite. And it looks interesting as a shtf zombie apocalypse currency so it seems to be popular with preppers.

Premiums on silver are up quite a bit, suggesting strong buying demand.

SD Bullion looks to be all sold out on 90% coins today.

An alternate guess would be the dealers are holding onto their inventory in expectation of rising values in the near future.

Not sure what you mean by "pre-sale".

There is junk silver for sale online, but with a premium, based on the spot price of silver. Not going to be cheap.

The don’t have it in. When they get it you will be notified

Tempting. I don't have any dimes. BU is probably significantly more than $31/oz.

https://sdbullion.com/silver/j...tutional-junk-silver

Did you see the expected ship date of April 16

quote:

Originally posted by 1flynDO:
Did you see the expected ship date of April 16

It's probably all coming from the same source.
Who knows what silver will do in a month.

Silver premiums (as well as spot price) have shot up significantly since the SVB bank failure. A couple days before, when spot was hanging around $20, junk silver at Monument Metals was going for $3.49 over spot. The days following the collapse, the premium went up to $4.49, $4.99, and now $6.99.

Monument Metals still has some of the cheapest in-stock that I can find (~21x face value). Sadly it was down to 16.8x fv just before SVB's collapse, which is extremely cheap when compared to the 20-25x its been over the past couple years.

Junk silver (aka Constitutional silver) used to command the lowest premiums, but those days are over (due to it's finite supply).

For those who don't understand spot price and premiums:
- Spot price is what "paper silver" contracts are trading for on the exchanges (there are ~250x more paper contracts than actual silver thats supposed to back those contracts).
- Premiums are what you pay (per ounce) in addition to spot price to buy actual physical silver.

There is a much worse shortage of silver than what manipulated spot prices would suggest, which is why premiums are shooting back up.

I got a bunch of 90% halves at spot on Saturday at my pawn shop.

quote:

For those who don't understand spot price and premiums:

Once upon a time the "normal" scenario was that a dealer would buy at or below spot while selling above for the premium.

In today's world reputable dealers are paying above spot, and selling well above spot.

My big local guy is paying $16.95-$17.10 x face when spot is currently $16.17. They are selling for $20.74-$20.85.

Times are hard and you can find a pre-64 quarter at Aldi's when returning someone's shopping cart....three quarters in the past year.

Market outlook by Investor Village investor:

https://www.investorvillage.co...&pt=msg&mid=23986982

what is the best place to start locally for one to sell silver?

quote:

Originally posted by rangeme101:
what is the best place to start locally for one to sell silver?

Locally, here are your options, in the order of the amount you're likely to make off it:

A) Local online classifieds (Craigslist/Facebook/etc.), if you know what it's worth, can weed through the scams, and can make the exchanges without getting robbed or murdered
B) Coin shops, if you have any
C) "We buy gold" jewelry stores
D) Pawn shops

But I'd recommend starting by reaching out to Dave Truong instead... You won't get scammed or shot, you won't get lowballed, you won't have to drive around to a bunch of shops, and you'll get a fair value from a great guy: https://sigforum.com/eve/forum...0601935/m/2630099194

Is it ever too late to buy silver bullion ... ?

Though I am far from being an expert, and someone who has bought bullion over the years, I do not think it is ever too late.

Maybe not going to make a bunch of money in the short term ... but over time, bullion will increase. Probably 10 to 20 years from now we may be saying to ourselves, gosh, I wished I bought silver back in 2023.

Just my thought ...

It's entirely possible to buy silver at a cost that will never turn a profit within your lifetime, or likely your kids' lifetime.

Here's an inflation-adjusted silver value chart for the past 100+ years. If you bought silver in 1980, or in 2011, you chose poorly. And there are a number of other points in this generation where if you bought silver, you have yet to turn a profit, despite it being 10+ years, or 40+ years.

And keep in mind that this chart is just spot price. This doesn't include premiums, which are running 30%+ over spot in some cases these days, putting you even further behind in ever turning a profit on your silver purchased at the wrong time.

https://www.macrotrends.net/14...rices-100-year-chart

Adjusted for inflation, silver has historically averaged less than $20/oz.

While you might get lucky and time it just right to buy low/sell high to flip it for a profit, over the long run the only people earning significant return off silver are silver dealers, thanks to their premiums.

quote:

Originally posted by rangeme101:
what is the best place to start locally for one to sell silver?

There's a local gun trader here in georgia.

quote:

Originally posted by WingedMedic:
For those who don't understand spot price and premiums:
- Spot price is what "paper silver" contracts are trading for on the exchanges (there are ~250x more paper contracts than actual silver that's supposed to back those contracts).
- Premiums are what you pay (per ounce) in addition to spot price to buy actual physical silver.

As I type this, the number is 356.78 to 1 at this website

Constitutional has gone the way of the cheap SKS.

quote:

While you might get lucky and time it just right to buy low/sell high to flip it for a profit, over the long run the only people earning significant return off silver are silver dealers, thanks to their premiums.

There is a school of thought that one buys silver as a hedge against inflation as governments and/or central banks can’t just print more of it.

It seems to me like the prices of precious metals (and currencies, but more precious metals) are so manipulated that the only time they *might* be good as insurance is if/when the Fed loses control and we have hyperinflation like Weimar Germany. However, if/when that happens I’m not sure the wheels wouldn’t come off to the point that one can’t spend gold or silver. I dunno…

Perhaps the precious metals one needs to stock are lead and brass?