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Hobbies 🪙 Ask the numismatist

Maister said:
I heard there's significant 'lag' with dealers being willing to pay the increased prices on silver seen in current markets.
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Well, the dealer I sold to said they're not buying sterling (aka 92.5% silver items) and other lesser purity stuff.

But they are buying 'pure' silver items (bullion bars, coins, etc) and 90% silver coins.

And they are buying pretty much any high purity gold items ~20karat+

Apparently, the refiners are way behind on processing stuff and dealers are sitting on A/Rs of $100,000s and months of wait time. They're nervous about all that capital being logjammed.

But 'pure' bullion is easy to melt and re-form as the Market (COMEX) wants 1000toz bars for trading purposes and pure bullion is simply a melting step as opposed to having to melt and refine to remove non-silver elements/compounds from certain items.

It's an interesting (human constructed) ecosystem.
 
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