Why such Disparity in 90% Junk Silver Bag Pricing?

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KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1469
Why such Disparity in 90% Junk Silver Bag Pricing?
  HAA GM Prov. Metals Spot Notes
(1) Gold 1 oz $1,416.48 $1,407.06   $1,376.70  
(1) Over Spot 2.89% 2.21%   0.00%  
Silver 1 oz       23.17  
(2) Junk Silver 715 $19,328.74   $19,072.63 $17,012.00 See http://cointrackers.com/blog/2/junk-silver-prices-today/#1000
(2) per oz 27.03   $26.68    
(2) Over Spot OZ 16.66%   12.11%    
(2) Over Spot Bag 13.62%        

My understanding is that "Junk Silver" should trade near spot price since it has no good controls such as certified bars.  If so, then why does HAA and Provident Metals sell it for such a premium versus the gold offerings?  Should bags only be bought local?

Nate's picture
Nate
Status: Platinum Member (Offline)
Joined: May 5 2009
Posts: 605
Colorado Gold

Kugs,

From the Colorado Gold site:

US Silver Eagle - $27.11

bag of 90% - $19761/715 ounces = $27.64

spot - $24.11

This is a real head scratcher for me.  I have no idea what is going on in the junk market. Could physical silver be decoupling from the paper market?

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1714
Junk silver

My local dealer is still selling junk silver at 1.5 - 2.0% above spot. This includes small amounts (1 coin).

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1469
Nate wrote:Kugs,From the
Nate wrote:

Kugs,

From the Colorado Gold site:

US Silver Eagle - $27.11

bag of 90% - $19761/715 ounces = $27.64

spot - $24.11

This is a real head scratcher for me.  I have no idea what is going on in the junk market. Could physical silver be decoupling from the paper market?

 

My spot prices were from close of market on Thursday.

US Silver Eagle is a collector coin where junk silver is worn out and dirty, no?

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