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Bags of 90 percent silver U.S. coins with face value of $1,000 have taken on new popularity, said Greencastle, Ind., dealer Julian Jarvis at the American Numismatic Association convention in Boston in Aug. 11.
This has pushed the price up beyond melt value, an unusual event, Jarvis explained.
He said this new demand has occurred in the last month or two and it comes “a lot from people who never bought silver before.”
He said he doesn’t know why newcomers would be focused on these bags.
Interest in silver American Eagles remains high, but premiums are at fairly normal levels of $1.70-$1.75 per coin, Jarvis pointed out.
Interest is not so high in other parts of his business. For uncirculated state quarter rolls, “nobody is buying big quantities. Promoters are letting them die for a while.”
Prices for rolls of uncirculated 2009 Lincoln cents have also fallen dramatically.
“Hardly any of them have any premium at the wholesale level.”
He said he can buy all he wants at less than $1 a roll.
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