Thursday, December 3, 2015

Silver back above $14, not that you can buy it at that price

Silver is back above $14 tonight.

Still in a big down trend.

Probing the $13's was not a good sign and I'd expect more of it.


I'm not a seller though, I'm a buyer.

I don't see silver online priced anywhere below $15 tonight.

In junk silver I am seeing roughly 12.5x face value where melt value is is basically 10.2x face value.


Some premium above melt value is expected.  I think of melt value like salvage value.

While the premium above spot is important, it is more important to see what the spread is on buying and selling.  The tighter the spread and the more liquid the market the better.  I don't mind paying a premium for junk silver if I can sell it for a premium when needed, and I can.  Generic silver I can't really sell at a premium so all that premium is lost.

Either way.  The down trend continues.  For those who save in silver and gold or just have a monthly budget for coins, more bang for our buck.  For those looking to make short term profits guessing which way the price is going to change, good luck to you.