We are quickly approaching what some are describing as the perfect storm in the event that could be a life changer when it comes to the silver price. If we hit the perfect storm, what would you believe will be the price move in silver by the 1st of November. I personally believe in this perfect storm silver will rise to 10 times the 12 month low price, which would be $260/oz.
I’m EXTREMELY new to silver, investing etc. and have a question as I’m looking at ‘junk silver’ to try to prep for TSHTF, and I just ‘don’t get’ the pricing….
Let me lay this out (my thinking) and someone please let me know where I’m right/wrong….
Ok – using silver at spot price of 32.00 per oz for ease of math – If you have 1 pound (16oz) of 90% silver coins (no new, war nickels etc – all 90% coins) then what is ‘retail price’ you should be paying?
I take 16oz x $32/oz and that is $512 if coinage is 90% then spot price for the silver in these coins is $460.80 (512x 0.9). But everywhere I look (ebay, silver seller links on pages etc) a 1lb bag of coins is selling for at least $520 – isn’t this too high? 520/16= 32.50/oz but again this isn’t pure silver it’s 90%…
Am I missing something? Or is it just demand is putting the old coins up over melt value or ???
Am I just looking in the wrong places? If Canadian coins are only 80% silver – then shouldn’t a pound of them sell for 409.00 (512x 0.8)
Patience please - as I said (& as online name signifies) I’m a newbie!!!!
Hello Doc! I’ve been lurking around the site for almost 2 years and finally decided to create a profile. I just wanted to say I appreciate the information your site provides. The comments from your users have been very useful during the recent price smash and have kept me from losing my mind since we last saw $40+ per ounce in 2011. Thankyou and keep up the good work!- B
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