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Why Are Premiums For Physical Silver 25% Above 'Paper' Spot Prices?
Silver Eagles are in the 25+% range, and bags of 90% silver coins are a little over 24%.
Do you think Greenspan’s quote explains it?
“Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.”
Alan Greenspan, Testimony Before the Committee on Banking and Financial Services, U.S. House of Representatives July 24, 1998
Charts: Jesse's Cafe Americain and GoldChartsrUs.com.
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Shiny pet rock.
A little Gresham’s Law, anyone?
Saying that everyone recognizes teh value of silver is simply not true. On occasion we have seen a silver dime or quarter in teh cashier's machine and asked if we "could have that one" with our change. Upon showing them that this one was old and made out of silver, teh Generation Y/Z cashier exhibited a whole lot of "wow that's awesome, now let me get on with my life". Most sheeple do not know about silver and could not care less about it either.
Teh Microsloth Word program has an auto correct feature which will change THE to TEH when set incorrectly.
Obvious if one knows what they are doing ...
Coinhead doesn't ...
coinhead has been into crypto-anarchy and sprechen sie L337 before any you Ron Paul people came on teh scene.
(And we use VIM, not M$ W0rd).
Myself, I always use Word to surf the web, cuz it's just so darn convenient.
You BitBoyz should take a peek at a company called R3... the BitCoin killer.
R3 is working to develop a blockchain solution which satisfies its banking partners. Since you don't seem too bright, you can read a little more here: http://www.reuters.com/article/2015/09/15/us-banks-blockchain-iduskcn0rf...
Why would the TBTF entities which control banking/finance want to throw in with BitCoin? Absolutely no reason they should. It probably provides an interesting testing ground, but at the end of the day these companies aren't known for sharing with anyone not already in the "club".
By the way, Barclay's (one of the backers of R3) is working with at least three other blockchain startups: Safello, Atlas Card, and Blocktrace.
So it looks like blockchain is here to stay (kills me to say h/t to Fonestar)... but BitCoin prolly ain't the future.
It's a totally seperate chain they are pushing for... good luck selling BankCoin or GovCoin to millions of devout Bitcoiners....
FINCEN
There will be NO competition to the "official" eCurrency. Good luck and God speed.
Gee, I wonder if it is tied to derivatives, and certain BANKS taking a massive loss if the OFFICIAL price of silver was 25% (or more) higher?
I see bars for as little as 4.87% premium, and I bought 3 batches this month in the 7.5% range. I like the security feature on Sunshines and I'm willing to pay a little more for it......Sure, you can be a dumbass and buy ASEs and waste your money.
ASEs have the advantage of being a small denomination. While unlikely, it is possible we will reach a state where we trade silver for nessecities. In that case, a 1oz silver coin will be more useful than a 100oz silver bar, due to the fact that post SHTF no one will be able to make change.
That being said, about half my holdings are silver rounds and the other half 100oz bars. Best of both worlds.
I own a band saw and a metal shear for the thin stuff. I'll make change but the shavings are my personal premium. btw, I use a wide blade.
I'll simply pay you in shavings myself.
You can just trust me as to which metal the shavings are made of.
Sunshine supplies the US mint with the blanks they strike ASEs from. You can get 1 oz Sunshines for about 10% premium....it's stupid to pay 25% FOR THE SAME THING
The tried and true method is that the government will require taxes to be paid in "BankCoin" or "GovCoin".
they can require whatever they want, but at the rate they are going, taxes will be paid in lead.
There are a thousand alt coins now. Bitcoin could disappear tomorrow. Who cares. Cryptocurrencies are here to stay.
Brother you seem like a genuinely intelligent fellow, yet you didn't fully grasp the concept of a blockchain. There is no value in a centralized/permission-based blockchain, because that wouldn't be much more than a normal database.
A blockchain becomes valuable by being open to anyone, yet still 100% secure and trustless. So there are not that many possibilities as a bank, you can either clone Bitcoin like yet another altcoin, you can sink money into building an inferior system, or you can embrace the future and accept it for what it is.
Back when the internet was in it's early stages, some telecomms and fax companies wouldn't give this new system of transmitting data a chance and they paid the price for it, while those who went with it and became ISPs were hugely successful.
If the banks insist on creating their own "blockchain systems" they are very welcome to do so but they will not reap the benefits this revolutionary technology really brings. They will pay some phony contractors/"startups" (Blythe) for creating a "blockchain solution" that will not benefit anyone, only to realize a year later when their stock plummets how they missed the train.
They are trying to seem innovative and customer-friendly because they know the danger of people just leaving their paper-system. I can already use Bitcoin for a lot of things and if people start realizing how they could take back control over their finances by just exiting the current financial system it's going to turn real ugly for the banking sector.
It's a bit like the difference between real gold and paper gold. There is only one true god.
PS. Yes we are all to blame for using this corrupt fiat-money system. There is an alternative you can use now, and neglecting the possibility to change the world for the better makes you complicit in perpetuating the status quo. Everyone screaming about the FIAT FRAUD yet you don't embrace a new, uncorruptible form of money? No you actually talk it down and want to have me believe the systems those fraudulent banks are developing will be superior in any way, shape or form? Sure thing brother.
BitCoin. Now a "commodity". Every use technically requires tracking your gain/loss with appropriate reporting to the IRS. Not a big deal at the moment. Certain to be used as necessary. Good luck and God speed.
PS - You seem smart enough, brother, so before you put your life's savings into BitCoin you need to understand that while blockchain is a ledger it is NOT to your benefit. Just as anonymous as TOR with the added benefit of civil and criminal penalties for misuse :)
Suppose you had an agency, say like the NSA. Suppose this agency had its tentacles into every router/firewall/DNS node everywhere, not to mention imbeds at the companies producing said products/solutions. Suppose you could use this access/control to globally block any traffic you can identify.
Do you suppose they could make it next to impossible to use any x-coin but those that are officially sanctioned?
"Blocktrace"
'Nuff said.
nothing new - in Poland there is already working blockchain-based system, called Billon. It is being installed in several banks in Central Europe
Fucking hairsplitter, should get a salon job.
My guess: premiums are high because retailers anticipated a drop in prices, so inventories are low.
Sheeple who get manipulated by the precious metals permabulls (Maloney, Schiff) and want their silver NOW because they think the financial system might collapse ANY MINUTE, are paying a hefty premium for this. Others seem to wait for lower prices.
Looking at prices in Germany, I don't see anything truly shocking: http://www.proaurum.de/home/preisliste.html
Silver is taxed in Germany by 19% VAT, but when you look at the tax free prices (Silbermünzen differenzbesteuert) then you see that here in Germany you pay €14,5 for a 1 Troy Ounce Maple Leaf. Spot price is about €13,3, so the premium is roughly 10%.
At the moment none are availabie on their internet shop, but my experience is that tubes of 25 silver Maple Leaves are always available when you visit them in person in one of their offices throughout Germany.
Well you best be visiting one of those shops pronto, as according to Marshall Swing, today is the last day you can buy physical PMs at any price!
Bashing silver is easy, but ask people in Brazil how they are feeling holding gold? It is hitting all time highs. Up 55% this year and 20% in the last six months. Up nearly 100% the last two or three years and 335% the last ten.
It's the same same thing with several other currencies. American centric thinkers have no worldview at all when it comes to PM's. All they see is the USD, and nothing else. They are blind, ignorant, dumb and intellectually lazy.
See, as always you gold bugs are letting emotions take possession of rational thinking.
NOWHERE did I mention that I don't like or own gold and silver.
I regularly buy precious metals (Dollar cost avenging), but I wouldn't be in a rush to buy now if premiums are at 25%. If you still haven't bought a reasonable amount of gold and silver, then I guess you're way too late, and paying a 25% idiot tax isn't going to help much either.
The cure for high premiums is....high premiums. Precious metals prices dropped significantly in 2008, and once again, my guess is that retailers are anticipating this.
Relax dude. I wasn't addressing your silver comment, just making an observation as to what happened in other places around the world.
Fact is, we all know the silver paper rigging story here at ZH. I was just trying add some real facts into the broken and false PM narrative pedddled here in America and over there in Europe.
Not sure your logic makes sense Bokkenrijder. Paying a 25% seems too much, but in the end buying silver at $15 with a 25% premium is the same as buying silver at $17 with a 10% premium. Either way you are out the same amount of money. I think others have also pointed out that physical silver has a 'floor' price that no dealer wants to break. Silver paper value could go to $10/oz, but then the dealer would just mark up a premium of 90%.
Therefore, I don't think buying today with a premium of 25% makes one an idiot really. The only idiots are those who refuse to buy any PMs at any price or any premium. They are legion, and their trust in fiat and debt above all else will be their downfall.
or vi?
Speaking of digital currencies...
http://www.theeventchronicle.com/editors-pick/the-artificial-matrix-and-...
Proofreder is proof of what's wrong with the world.
Trolling for typos, instead of getting high, and palying with his avatar's titties 'n stuff.
Fuck me running, de yooths of 'Murica ARE TOTALLY FUCKED UP BEYOND ALL REPAIR.
because it is well documented English majors are better at Math and economic...should be PoofEater by the way
Teh?
Ok: devil's advocate here- Isn't it this: It is NOT the silver (otr gold) itself that has value; rather it is the use of a monetary system that forces the use of those like the Gold Standard. IE, the US government used to have to deal with the gold standard and making sure that our BOP deficit would not go too large/ we would not lose all of our jobs to China: Because under the gold standard, they would not be able to monetize all of our debt and export US dollars and US inflation in money imperialism like we currently do.
My point: Isn't it in the SYSTEM and NOT the gold or silver pieces themselves where the value lies?:
http://www.amazon.com/The-Great-Deformation-Corruption-Capitalism/dp/158...
Otherwise- if you are forced to deal with fiat like we are now, it is best to hypothecate and use borrowed cash to obtain more yield and then compound all of the cash yields being paid to you rapidly: IE use positive carry between short and long term rates and borrow your short term money (or some of it at least) like a bank- earn the spread. Gold does not kick off a yield (unless I am mistaken) so I do not understand its value at all in our current system- seems like the GOLD standard was where the value was. Although I suppose some might think that some country will re-anchor to gold (and thus the value of physical will shoot up/revaule): I say don't hold your breath! - seems like a long shot since the leaders LOVE messing with our money RE as detailed in that Stockman book (link) above.
:)
I'm no expert, but if you're using 'gold' and 'yield' in the same sentence, you're not seeing gold as it has been historically known for millenia. Gold/silver hold value as 'money' because there is a multi-thousand year history supporting its use as an effective, transportable, and convertible means of exchange.
The force in the current 'system' is leveraged in support of using worthless paper as 'money', via the application of unconstitutional 'legal tender' laws upon the people. I concur with your suggestion that a re-anchoring to the gold standard will not occur. That is, until TPTB are convinced they've accumulated enough gold themselves, and removed it from the hands of ordinary people. Even then, as long as they can effectively continue forcing the peasantry to use their voodoo-paper as 'money', there is no real impetus to re-establish any sort of 'backing' or 'anchor' to it.
Men love gold. Gold bars. Gold coins.
Women love gold. Gold rings. Gold necklaces. I for one refuse to support the diamond cartels (because I know my history), so gold it is!
30 years ago, while working at McDonalds, a customer paid with all silver quarters. I asked the manager if I could trade them out for cash. I have no idea what influenced me at that time, but I relish having the foresight to recognize the value in those quarters at such a young age.
Not only that, but you served relish as a condiment back then, and now use it correctly in its more interesting form.
The five second rule applies not only to dropped food, but also swapping for silvery change. Good catch.
My daughter worked part time at a bank, stationed at the drive-by window so she had a lot of free time on her hands. Over a period of about six months going through the change drawer, being bored, she found about 15 silver dimes and a few silver quarters. She gave them to my son for his birthday as a novelty. At the time spot was about $25, so I asked her if she realized what those were worth. She thought a few dollars. I told her she probably handed him $40 or so worth of silver.
Let the learning begin. People will get up to speed on the true value of silver very quickly during a currency meltdown...
-Argenta
Once the reset is in force everyone will quickly and precisely know the difference.
They'll figure it out. The sooner the better for them.
I keep an eye out for pre '65 Ag coins, and I've not gotten any in many moons. You are fortunate
to find so much as to be able to school all these teeny boppers. Maybe you can show them some bitcoins.
My local coin store set the price @$20 when silver went below that. I always look at silver being $20 since then, no matter what the internet says.
Yep, look at it like $20 to buy an ounce, and if you needed to sell plan on $10. Thats how I look at it anyway.
My local guy had to pay $20 when restocking monster boxes earlier this week.
My LCS is selling eagles/maples for 19, buffalo rounds and 1 oz bars for 18, at least he was about 2 weeks ago. He told me something similar about price too. Once is got below 15 he wasn't lowering his prices anymore, that's the bottom for him to operate. Fair enough. Still better than ordering it online, and I think he knows most of his customers have privacy concerns that make us willing to pay another couple % over what you can get from silvertowne or JMbullion for the anonymity cash and carry provides.
He did still have a lot of eagles and maples, as well has generic bars in 1, 5, 10 and kilo bars, a lot of them. Didn't have his usual selection of world coins though, just US and canada. He had a pretty good amount of gold eagles in every denomination and a few buffalos too.
When it dropped to $10 a while back you mostly still paid $20. Phyz market has bottomed no matter how much lower it goes the premium will keep it about where it is.
The tale of two markets as I like to call it. There is the real physical market that you can touch and feel. This is where the real wealth is. Then you have the crony illusion known as the paper markets, which are an utter farce and outright lie. You decide, which one would you rather be in? The answer is simple.
http://jimrickards.blogspot.com/
Yep, paper and physical. It doesn't matter what the paper market says, it's what you can actually buy it for and I expect that this mark-up we're seeing will be "the good old days" not too long from now as the sheep really start worrying.....
Antibacterial pet rock
If you get it in shot form you can load up shotgun shells for vampire and werewolf hunting. Great fun.
My brother spoke to his investment banker group yesterday. To a man they said they all should start loading up on physical metals in the next 3-6 months.
The anit-bacterial property as well as the anti-vira properties are starting to hit the tipping point where big pharma can no longer suppress them. I expect this to change the industrial use of the metal over the next 5 years as more and more people try it for them selves and share their results. The fact that the US army in their own publications list colloidal silver as being effective as a anti viral is huge. Not to mention the recent little gem on how to produce stable non-ionic colloidal silver http://www.omicsonline.org/colloidal-nano-silverits-production-method-properties-standards-and-its-bioefficacy-as-an-inorganic-antibiotic-2161-0398.1000130.php?aid=21271 and the many Youtube engineers producing it and sharing their results. Just a matter of time now.
Plus, it is used in missiles. So, better to stockpile it, than the Empire.
Although some speculate that would lead to seizures/declaration of illegal 'hoarding', but IMO that would be a death knell, signalling the Empire as illegitimate and on its last legs.
" Silver/zinc batteries (primary as well as secondary) also find critical applications in military markets, powering over 90% of all military missile systems, including the Patriot and Tomahawk Cruise missiles."
At that point, we would all have to follow Solzhenitsyn's advice: "when you've robbed a man of EVERYTHING, he is no longer in your power. He's free again"
[Why didn't we]"When [we had] nothing left to lose, boldly set up an ambush of a half-dozen men, with axes, hammers, whatever else was at hand" to paraphrase.
The leasing will stop when they have no product to lease. Nobody knows when that day is but it is definitely getting closer as physical supply becomes tighter. The pendulum is swinging and the momentum is picking up. congratulation if you have your supply, if not...I am sorry.
They already have no product to lease. 100X paper to supply and rising. On hand stock only matters when someone shows up for delivery rather than roll the cash price into another contract. If that ever breaks down they can always settle with cash.
The house always wins.
I thought it was at 250x last week.
It is well over 200. They lease whether they have it or not, just betting nobody wants it for possession. At some point i think some of these people will just say give me the real thing. And it won't take many to make a mess out of what they are doing.
Given the current situation there is no way folks have not already called to settle in physical. Anyone know of a link? No doubt they were paid off in fiat.
We are starting to witness the differentiation between paper based silver, and the real thing. We are going to see that with gold as well.
They might as well start trading paper for the leaning tower in Pisa. It makes about as much sense.
Monopoly money for a Mickey Mouse world.
Fraud.
Keep stackin'!
At least 20 ounces a month with an occasional shiny gold coin thrown in.
I feeli like a pirate.
Pile it high and deep so you can have your own Phd.....
argh!!!
I've only just started.
The Mexican Mint has an online store.
http://www.cmm.gob.mx/cmtienda/
It has been a while since they have had 1oz Gold Libertads.
Yesterday they no longer had 1oz Silver Libertads.
Today they have NO Libertads.
I wish the US had NO libtards.
Oh, sorry. My dyslexia is dab today.
Best comment of the day. /thread
Agreed
Those are great looking coins, one of my favorite, but if you mostly care about the silver content, they are an expensive way to stack. I have a few, but at least where I shop, the difference in price means I could have 23-24 oz of other silver for the price of a 20 count tube of those.
Yes, the ladies are showing their breastiges on the gold coins. Gave me a woody.
I like breastiges too. An I have a gold member.
my lcs puts libertads in with the generics so i have managged to get 150 or so at generic prices over the years.
Is 19.87 per uncirculated coin (in individual hard clear plastic) a bad price (on a credit card? ?
Junk " sterling pre 1919 coins available in Uk at 10% over spot at street market in Brighton on Saturdays . Those guys also have jewellery , flatware (cutlery etc) collectables etc all sold by weight. Check out the second hand market in UK to avoid 20% VAT theft and get more metal for your fiat
You can put them in a tank of water and they never die
Or a lake.
Or septic tank :)
Sump pit
Nonfunctional fireplace.
midden
Janet Yellen's va jj.
Now that's an unexplored cave if there ever was one.
Dude! You ARE pure evil.
Also, how many UK people know this, that you can get £100 face value legal tender 2oz 999 silver coin from the Post Office/Royal Mint for ......£100 !! no postage , taxes, production costs , straight swap. Limit 10 per customer . Depending on how you look at it you could say thats expensive silver or thats 2 ounces of silver free i.e if you have £100 cash in your pocket now you could exchange it for the £100 coin and you still have £100 spendable cash.
No one is paying a premium for physical silver but only for American Eagle Coins. Even a dummy should realize what the difference is.
It's over a 50 percent premium for 90-percent junk US silver coins. Look at Apmex.
Unless you're taking delivery on futures contracts, you're paying a premium for physical.
If you try to take delivery from the COMEX, calculating the premiums will result in a Divide by Zero error
As you hear the guy on the other side of the phone laughing between the words "Go fuck yourself"
I wonder if it's because one can cash out an IRA for US-minted silver and gold coins, provided they are over 90%, without penalty?
Also, many foreign countries permit import of PMs tax and penalty-free, provided they are minted by a trading partner and have a specific face value. So 90% silver coins would be the cheapest alternative to US silver eagles (or only alternative if silver eagles are unavailable) and still be exportable to many places.
If there truly is a 25% premium between physical and paper silver then we should see someone take advantage of that by demanding delivery on their paper silver. That day is definitely coming, although I am surprised that no one has called COMEX's bluff yet and broken the bank.
Bad reputation...http://www.ripoffreport.com/reports/directory/apmex
There is no premium for 1K COMEX bars...Virtually everything else has a physical premium, with Silver Eagles premium the largest...Also, virtually all dealers - except some small local dealers/pawn shops - at the retail level have no stock...Silver Eagles are running 6-8 weeks for delivery...
Karl Napp & LoneStarHog are correct:
https://comparesilverprices.com/
Premiums are only elevated for ASE's and somewhat for Maples.
The premiums for Philharmonics are pretty close to normal...
Bought a couple 100oz bars two weeks ago and paid a 3.5% premium. Out in the 'real world' I am seeing 5%
As well it should.
The Crimex contract price is for 1000 oz bars, not one ounce legal tender coins.
When someone goes into WallyWorld and buys a 60 pound tub of McFood they will pay a lower price for the huge tub than for 1000 individually packaged 1 ounce servings of the same McFood at the same store. But when one talks precious metals... all that goes straight out the window.
When expressing the differential as a percentage as opposed to a per unit cost in an environment of falling prices, that constant unit cost will necessarily be a rising percentage.
Unless one identifies and backs out the per unit costs and then plots the remainder as a (less) rising percentage, the chart is blatantly misleading, but as long as it's PM pimps that are doing the BLSing no one speaks up...
BTW - Apmex has 126 2015 Monster Boxes in stock now if you don't want to wait 6-8 weeks for delivery.
Spot + $4.99/oz. Looks like an idiotic purchase. Hope it still looks that way a year from now.
Currently, $2.00 (plus .1% of the cost of Crimex short contract that may need to be rolled) of that $4.99 is the fixed charge from the US mint and requires a 50 monster box minimum order, and every step removed from an Authorized dealer adds another layer of middlemen and their margins and shipping and insurance costs.
https://www.usmint.gov/consumer/?action=americanEagles
Actually, 90-percent US Silver coins have a larger premium--over 50 percent.
Too bad--it's my favorite form of silver.
And, that difference is...what? The Canadian Maple Leaf is the coin of choice I should think...the US Mint is creating their own shortage by running out of silver...no one will sell to them!
KArl, you are certainly entitled to your own opinions but not your own facts. The real deal commands a serious premium these days.
I don't think paper markets work well at these spreads.
It has nothing to do with supply being at the same point it was in 2011 when the moonshot started...or does it? You could make the argument that we burned through all the stolen SLV silver, if you think that was what was used to slow the last ascent in 2011.
http://www.24hgold.com/english/interactive_chart.aspx?title=COMEX%20WARE...
Jim Sinclair perfectly says it all:
“When machines take over markets there are no value metrics for anything. As such anything can trade at any price. It is all math, devoid logic or the means of valuation. Those the gods wish to destroy they make mad first. The business of markets is dead. It is going to remain dead, killed by the demons who claimed publicly to have been doing the work of god. Now these same perverted players are running for cover themselves to save the trillions they have made. Clearly any rally in equities will be used to liquidate. The executioners of markets are finding out that paper currency will not protect their wealth.
That should lead to gold and silver selling above any metric for valuation that has been traditional throwing all ratios or other .measures into the round file. These New Normal destroyers have broken the playing board of market, the heart of free enterprise.” Markets are now completely broken. Six plus years of zero percent interest rates have taken away any possibility of putting a real or true valuation on anything. The “tool” of derivatives has been used by our central planners to bend and twist markets in ways to “prove” their policies work. I think it can be summed up by saying “everything is worth nothing“.
It is much simplier than that;
Allow me to simplify;
When fraud is the status quo, possession is the law.
such centrally planned oligarchies always lead to the same end game. The "official" prices will be very low, however, taking delivery at the "official" price will be something else altogether.
Just ask any Russian that worked/lived through the 80's and 90's.
By the way, when the same holds true for things like food and fuel, then that's when all hell brakes loose, not before.
Because paper spot prices are for paper. They're ok for gambling, but buying silver is no gamble. Each ounce bought and taken out of the system is a little rebellion, like symbolically kicking Jamie in the nutz.
Priceless.
Or giving the system cancer.
His nutz, their nutz?
Or, Deez Nutz
Spot prices are as made up as BLS numbers, and just as useless.
it doesn't make much sense to sell it cheap as a dealer or reseller, if dealer paid $18 or $20 or more for it, and not people demand it at $14... that's not a good business model... so that must explain the increases..
Paper silver has been under 15 bucks for 10 months now, try again.
You're a bit late to the party on this one, Tyler. I noticed silver premiums launching in July/August.
Edit: At first I didn't understand the downvotes. Then I actually bothered to look at the chart provided... derp.
However, my surprise that this was not reported on sooner remains.
Simple, retailers price silver as anywhere from $2.49 - $3.49 per ozt over spot; therefore as the price of silver declines and the premium (dollar amount) over spot remains fixed, the percentage over spot increases and if the price of silver moves upward, then the percentage above spot declines. Similarly, gold sovereign coins trade at $95-$110 per ounce over spot; so the percentage of premium over spots fluctuates with the underlying price movements.
IOW - it fluctuates based on the "pricing model" that is used and is consistent across the online retail board. Nothing really new here.
This article is STUPID. Check out gains ville coins. 1 BUCK over spot. DUH.
Available now for as low as $5.19 over spot
They suck. Try these people instead http://www.coloradogold.com
Silver is silver. Foolish to buy uncirculated and pay more. Do not care whose face is on a coin.
Damn shame Tulving went out of business.
He only charged $18 premium for gold ounces (maples, phils). I didn't buy silver because it's so bulky, but now I wish I had a good source of junk coin bags. I won't pay the stupid high prems we see now.
IMO Tulving got cheap/careless and didn't hedge. When prices started getting really volatile it destroyed his business.
Always gotta do the diligence. You found one of the better ones. Look around. There's a lot of higher premiums out there....
Maybe you should, you know, ACTUALLY go to the website and see what their prices are rather than just spout off an random number that pops into that small mind of yours. DUH.
This article is STUPID. Check out gains ville coins. 1 BUCK over spot. DUH.
And each time another product picks upa 50% premium and holds it, like the Eagle, there will be another excuse. The fact is, only 1st melt silver is subidized by the COMEX paper price. Every coin I have bought sells between 20$ and 40$. They achieve that price within a year. And they hold it.
Newbies should not comment.
Then why did you?
Quinvarius 5 years 29 weeks
NoBillsOfCredit 33 weeks 3 days
So who's the asswipe?
Happy 6yr 19 hr anniversary btw
yeah I think there is a premium (in $ per ounce, not percent) below which your LCS will not go in order to make it worthwhile. For eagles it seems to be about $3.50/oz.
The question is, when will the miners catch a break. If they don't soon, this will get exponentially worse.
Good point. I have noticed myself the mining stocks are getting absolutely hammered. The upside potential is more enormous than ever, but the big question is "when?" Well we know the stocks will skyrocket when the manipulated paper markets lose control over the metal prices. But we are back again to the "when?" question. Just have to hope those guys stay in business long enough to have an upside.
The miners are getting screwed. They have debts that were borrowed to finance their operations. now, their debts are due, but the money changers have decided to fuck with the price of metals. Sorry miners, you can no longer sell your wares at a price that covers your extraction costs and finance costs. A lot of miners will be going out of business... not unlike a lot of oil speculators.
Yes! You are correct, good thing we don't use oil for much...
...oh wait.
They'll just repeal the 2nd law of thermodynamics. A simple matter of figuring out who to bribe :-)
"but the big question is "when?"
No, the big question is "who", as in who will remain solvent. The miners are a sucker's game. Buy the real thing, phyzz.
Once again, the market tried to take a nose dive, but the damnable HFT's have already kicked in. I guess they can do this indefinitely. Who is there to stop them? China? Russia? Who?
Maybe it will be a Kharmic thing...Like Blankfein...
1oz Silver American Eagle €12 @ EurGold
https://www.eurgold.eu/silver/silver-coins/american-eagle-1oz-silver-coi...
why the Tylers let you post this over and over again is a mystery to me.
Because they are nice guys!
hmmmmmmmmmmmmmmm
Naaa
Maybe he is a Tyler or a friend of one?
ding ding ding ding ding
No denying supply and demand forever. Premiums are the adjustment the manupulated market denies. Overnight this problem would disappear if regulations required physical delivery of all metal contracts purchased in the markets.
I don't know why people call the difference between the fake paper price and the actual retail silver and gold price a "PREMIUM". You can call it what ever you want to, but it is simply the total price it takes a dealer to bring an ounce of gold or silver to market. So the "REAL" price of gold and silver is, well, the price of REAL gold and silver. The fake paper market is simply a "betting" market that bets on an imaginary paper gold and silver. Forget calling it a premium. Concentrate on the total price you are paying for physical gold and silver and that is the REAL price of gold and silver.
Yes, "premium" is a misnomer.
No "premium" on lead, so far.
PB in .22lr bar form has shot up at minimum 300% over the past few years.
Permanent backwardation, you know, because everything is awesome.
I WILL TAKE "MOTHERFUCKING MANIPULATION BY A BUNCH OF COCKSUCKERS WHO DESERVE TO BE BUSSED ONTO A ROCKET AND SHOT INTO OUTERSPACE NEVER TO RETURN" FOR ONE MILLION, ALEX.
Do dealers buy back silver close to 25% over spot?
I rarely sell but the few times I have, my local dealer pays me over spot. Probably about what he pays his dealer or about 3-4% under what he just sold it to me for.
His margin is not that thin...
They do now, which means the silver cycle has broken:
Silver Update 9/11/15 Silver Cycle
APMEX Buy Price*: $12,376.65