Is Junk Silver The Best Play Right Now?

avatar

Refineries continue to experience a backlog because so many people are selling their silver. With the fluctuations in spot price happening, dealers are looking to offload any scrap or junk silver as quickly as possible. The problem is that anything less than .999 bullion isn't going to be given high priority when they're swimming in .999 bullion.
(Created with Bing)

The reason I'm thinking junk silver is a better short-term play for buyers is because of how undesirable it is. Ask most coin stores and they will offer you far below spot price or outright refuse to buy it.

This is just one example.

(Source)

Some are claiming this backlog will last about 3-6 months, while others are claiming anywhere from 3-12 months. (Source)

This presents a unique buying opportunity for those wanting to buy silver cheaper. Now may not be a bad time to put out some online posts offering to buy people's 90% silver that their coin store won't take, and offer under spot for it. If you're planning to hold for a long period anyway, junk silver will eventually be favorable again because of how recognizable it is.

Regardless of what you do, keep an open mind and don't hesitate to think outside the box. Whenever there's high demand, there's more than one angle you can find to get silver at a discount if you're willing to put in the work.

1000017156.gif

1000033547.jpg
Buy DUO and stake to receive Hive dividends, tip others, have your posts curated, and grow Hive!
https://tribaldex.com/trade/DUO
https://hive-engine.com/trade/DUO




Do you like stacking gold and silver?

Are you new to Hive, or know someone new to Hive, and want help and support?

Have you been on Hive for a while and want to help new Hive members? Join HOC and help us grow Hive and encourage new members!

Posted Using INLEO

hive-136819 inleo silvergoldstackers pimp neoxian cent alive pob waivio
0
0
0.000
11 comments
avatar

You received an upvote of 99% from Precious the Silver Mermaid!

Thank you for contributing more great content to the #SilverGoldStackers tag.
You have created a Precious Gem!

0
0
0.000
Reply
avatar

That's how I'm interpreting what the refineries are saying. The silver pipeline is frozen until further notice until the market settles down. There's a fear of losing a load of cash while holding inventory of stock.

!PIMP

0
0
0.000
Reply
avatar

Yeah, and I don't blame them for it. These are interesting times we're experiencing.

!BBH
!PIZZA
!ALIVE

0
0
0.000
Reply
avatar

Interesting look at junk silver. I may not overlook it so much anymore.

0
0
0.000
Reply
avatar

Yeah, I think people who didn't get it now will be wishing they had picked up a few rolls while it was cheaper.

!BBH
!PIZZA
!ALIVE

0
0
0.000
Reply
avatar

I love those half dollar sized Washington quarters!

I also love the .999 fine, 1 ounce buffalo nickels

Sooooo, in a bit more time, the answer to your question will be, any silver is silver. Be glad you found any.
And, right now i just find out what my local store has, and the best deal is, of what they have.

I gladly take junk silver. Not only is it a ticket to ride the silver moon mars shot, if we have a collapse of dollar, junk silver is still easily recognizable, and will get you something without having to break an ounce.

0
0
0.000
Reply
avatar

!LOL yeah, you can only do so much with AI. 😆

Yeah, I think junk silver will become more sought after here in a year or two if the refining backlog eases up.

!BBH
!ALIVE
!PIZZA

0
0
0.000
Reply
avatar

Congratulations @bulliontools! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)

You received more than 11000 HP as payout for your posts, comments and curation.
Your next payout target is 12000 HP.
The unit is Hive Power equivalent because post and comment rewards can be split into HP and HBD

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out our last posts:

Our Hive Power Delegations to the February PUM Winners
0
0
0.000
Reply
avatar
(Edited)

U.S. 90% Silver Coins will do Ten Times better than U.S. Pocket Change… The only problem with that, is because the 90% Silver Coins will cost you much more than U.S. Pocket Change…. This is why I keep writing that Common U.S. Coinage will “Out-Perform” Silver and Gold. In Phase One of the Reset… Think of each 90% Silver Dime being worth between 90 and 100 of todays Fiat USD’s in Phase One…

0
0
0.000
Reply
avatar

This presents a unique buying opportunity for those wanting to buy silver cheaper.

0
0
0.000
Reply