Silver Spread

[beauanderos]

With silver at $23.41, APMEX was quoting the sell price of their $1000 face bag of junk silver at $16,952.65. Their buy price was $16,273.40. This gives a spread of 95 cents on what they're listing for over what they're willing to pay. This will likely go up, given the scarcity of junk availability, as dealers report that they are unable to provide fresh inventory from existing customer who were previously sellers, but who are now holding (99% of orders are to buy) and are reduced to retailing other forms of silver, ingots, bars, rounds, etc. Expect to see the listings dwindle as the price climbs, and the premium to melt ought to expand as well, driven by demand.