I had half the day off today, and my doctor canceled their appointment with me due to an emergency, but there was no way I was giving the time back. I went out to lunch instead and then stopped by the local coin shop to see how things have changed since it's been quite some time since I visited.
The last time I was there, they couldn't keep silver or gold on the shelf. There was a perpetual order backlog, and they were paying $1.50 over spot on silver to anyone who wanted to sell it.
Fast forward to today, and the case is full. I saw multiple 100oz bars in the case, multiple boxes of assorted 1oz rounds, coins, etc. There were a dozen or so 1/10oz gold coins in flips, and to the right were multiple boxes of 90% silver quarters, dimes, and half dollars. Talk about a selection!
If I had to guess, inflation was taking its toll, and people have been selling to make ends meet. I don't blame them one bit. Out of curiosity, I asked them what they were paying for silver. They told me they were paying $0.50 under spot! What a change!
(Created with Bing)
They clearly weren't desperate to get their hands on silver, as supply seemed to be outpacing demand. I looked around and didn't see anything that I had to have, so I spent a few minutes browsing while walking around a couple of people selling, and then I left.
I'm curious what everyone else is seeing locally. Are you still seeing a lot of demand or more people selling?
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