Silver premiums

[jim4silver]

As silver is gaining today quite a bit in light of recent price action, I noticed that the local coin dealers are not lowering the premiums at all. It would be kind of weird if the silver price got back to "normal" (say in the $30-$33 range or so) but the premiums charged stayed high like they are now. I don't personally see that happening but it would hurt those not buying now who are waiting for either lower prices or lower premiums.

Wish I had some more $$$ to spend now but I have used my dry powder for now. I just gotta stay away from my "cash reserves" that I am saving for a rainy day (which I never had before when I was all in so to speak).


Jim

 

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[TreasurePirate69]

Well, I find it to be surprising to say the least. But... as long as people keep running out to buy silver at any price, then the premiums will stay. It's only been a one day recovery though. We'll have to wait and see what happens if the price goes up again tomorrow.

 

[Marchas45]

O! Yee of little faith Pirate. Lol I've been checking around on all my forums, Dealers and ebay and the premiums are shocking me to say the least. It's amazing, the spot finally gets down and you can't find any deals. Lol

 

[jim4silver]

O! Yee of little faith Pirate. Lol I've been checking around on all my forums, Dealers and ebay and the premiums are shocking me to say the least. It's amazing, the spot finally gets down and you can't find any deals. Lol

One store here has some rolls of ASEs in stock and they want close to a $7 premium if you buy the whole roll. Higher for single coins.

Some other stores are ordering like crazy and keep telling everyone 4 or so weeks for silver bullion and June for new ASEs. I still believe some of those folks are going to have to wind up waiting much longer than that before it is over.

Jim

 

[SilverForBrains]

yea it's really amazing how silver coin premiums have mimicked a much higher silver price than the recent dive we just saw. Not surprising either in the sense that paper silver is no better than shares in Facebook and a discrete amount of 90% silver coins exist. The demand for coins is seriously insane. In fact, I'm rather surprised that before the drop silver coins were selling for around spot + a small premium. no matter how high silver rises, there will be hoards and hoards of buyers out there willing to pay the price for American silver coins

 

[Marchas45]

Well guys I just bought a roll of Maples for $730 shipped and $30 face Mercs for $600 shipped and believe you me I looked hard for deals and couldn't find any, it's getting tough. Lol

 

[jim4silver]

Checked out one of my larger local coin stores today and they were still taking orders and giving wait times of at least 4 weeks on silver bullion. They really didn't have any silver bullion in stock except slabbed silver coins and bullion, and silver Pandas, etc. So even if a person wanted to pay more for say ASEs, they couldn't get them at least at that store. I was told that they had a decent amount of the Kilo Koalas as of yesterday but they were gone early this morning. I think they had small amounts of junk silver selling for 21.2X face, which is roughly $29.65 or so per ounce of pure silver.

Jim

 

[skeeterd]

Stopped at my LCS today. He's still charging 25x face for 90%. He has a few ASE's in and he is charging $10 over spot. On the 90%, he only has about $5 face in dimes, and a handfull of halves. But he has a couple hundred face in quarters. I asked if he's had much business and he said he is selling quite a bit of silver but very little has come through the door for him to buy. He's paying spot price and that surprises me. Usually he pays about 10% under spot.