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From watching a number of videos by coin dealers, there appears to be a definite trend over the last 4 months or so. Earlier in the year after gold and silver had their March – April run up largely as a result of the banking crisis, customers were aggressively buying gold and silver from both large dealers and local coin shops. Since August and September, many smaller customers have been SELLING gold and silver back to local coin shops and some dealers. This is a combination of the metals selling off from those earlier highs and the poor economy. Many people have needed to convert back into fiat to pay bills and expenses and offset the effects of inflation. The coin dealers in the videos have stressed that they are taking in much more metal than they are selling and therefore their inventories of gold and silver are higher and premiums have come down from the insane levels earlier this year. If you are a stacker and still have significant levels of fiat over and above what you need for bills and expenses this is a time to buy metal from local coin shops. They have inventory and premiums are reasonable. It reminds me of the saying about insurance (which is what gold and silver are, wealth insurance.) Buy insurance when it is available and at a reasonble price, NOT when you need it and you can’t get it, at ANY price!
Prem’s have come down but spot is going up, so today’s ‘bargain’ isn’t what it recently was in $ terms. 90% Junk is still $18-$19 but some days within the past year it could be had for under $17 (retail – Monument Metals in large quantities). I believe the most recent opportunity to get basement prices in prem. silver was October 1-3. Impared ASE’s at $24.76 (BU’s around $27.50) from a local coin shop (again large quantity avail. but few buyers). Buying this month could be a good time as you say though esp. since silver esp. tends to GAP-UP against gold – 2024’s looking ominous. RE: Insurance – absolutely – when else than some periods over the past 3 years could we buy silver (GSR of 85-94 repeatedly) while our house has been ON FIRE! Prem’s were high since 2021 but if you knew when to pick your spots (GSR’s the tell), silver oz’s could be cost averaged in at the $22-$24 range (I like Canadian 80%). With gold recently steady between 1950-2050 range and breaking ATH’s in many many other currencies – people (still with means) are starting to get skitish not owning metal.