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Silver Coin Premiums Soar Above 50%
Courtesy of Sharelynx' Nick Laird who tracks precious metal premium by vendor, we continue our recent series showing the discrepancy between paper and physical metals, in this case silver. As Nick notes, APMEX price premiums are a lot higher than the Monex. And as can be seen in the charts below, premiums rose above 50% for 1-19 coins & above 40% for 500 plus coins.
For now, gold is stable.
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Buy the better silver coins .... Eagles, Maples, Phils, Mex Pesos, Pandas, Koalas etc. .... junk is fine too .... avoid the bars and ingots .... carry on ?
Latitude, thanks for the attempt at educating me, but I'll take my 29 years of being in the markets and stuyding economics over GATA's nonsense and I'm not too worried about my credibiltiy either. GATA sees the world one way and that is through its manipulated glasses. I exchanged emails with them in the past and like Schiff, Williams, Zerohege, and Celente sell or solicit funding based on fear and an attempt at proving a story that may involve that magic word "manipulation."
You jumped to a conclusion on what I said about manipulation where I stated I see it more of a dollar inverse relationship. Then throw at me what every gold bug does from GATA, Zerohedge, and then try and knock my credibility. Meanwhile my clients conitnue to buy gold and sivler at lower prices.
Look if you want to prove manipulation, why don't you read the OCC's Quarterly Report on Bank Trading and Derivatives Activities? It is clear who is involved in the options markets. http://www.occ.gov/topics/capital-markets/financial-markets/trading/deri...
Wouldn't it help your credibility if you wrote an article about that like I have, my only article on manipulation? Thoughts On Gold Price Manipulation 12/11/2012 http://buygoldandsilversafely.com/gold/thoughts-on-gold-price-manipulati...
Meanwhile, I don't ignore price action and what the reading of the economic data tells me. I gladly share it. 8 Indicators That Tell Us Where Gold Might Go 7/2014 Next http://buygoldandsilversafely.com/gold/8-indicators-that-tell-us-where-g...
Don't even know what you are talking about with MSNBC. Never mentioned them and don't even watch them. I did say I listen to CNBC but only so I can criticize them for my readers which I do constantly. But I do the same thing to what Zerohedge puts out. You can't be neative all the time. Too much money to be made! Good luck to you.
"GATA sees the world one way and that is through its manipulated glasses. "
Clearly you have never been through their web site where they have the documents where Central Banks state that they intervene in the gold market. I have nothing more to discuss with you.
His statement above is patently false and full of holes. Lots of evidence to counter his arguments but why even bother? I've tried to reason with him over the years here with him but haven't had much success.
Thanks all. See you again when I read an article by Zerohedge on gold/silver that needs explaining.
Most ZHers don't need you to explain anything Doug. Aside your obvious disdain for GATA and others who venture to tell the truth about the fraud ridden futures market, ZH has put out all kinds of great stuff on manipulation over the years. Glad you are doing well selling PM's. Good luck.
http://www.zerohedge.com/news/2014-12-04/inside-look-shocking-role-gold-...
Bay of Pigs, I've followed Zerohedge for years, along with Peter Schiff, John Williams, Gerald Celente, etc. etc. When my first book came out I quoted GATA's Bill Murphy and have conversed with him personally.
Someday you and they will get what you all wish for. In the meantime my advice to my clients has helped them from going all in precious metals the last few years as I was dollar bullish (Yen and Euro negative) and said it would have an affect on gold prices. It has.
It seems people here try and twist what my intent was on manipulation where I clearly said banks manipulate, but I don't go to GATA or Schiff or Zerohedge to know this. I go to the OCC Bank and Derivatve Quarterly reports which I have written about and linked to here. But even with this knowledge of manipulation, what the heck does it matter to my clients if I can show from my research that the price of gold has further to fall? They have been buying perfectly on the dips, dollar cost averaging into a position/allcoation.
Some like to blame manipulation but I look at price action and different data to show that it trumps their manipulation. How does one trade on manipulation? I don't cry about those things. I prove from my research on what occurs in the markets and some may call me smug about it, but I only come to Zerohedge a few times a year because I can't stand all the negativity or I need to balance out a pro-CNBC economic data article and try and pick a side (the data is mostly negative as you know and CNBC paints it mostly positive).
I'm as bullish on gold as anyone. I mean I do sell it for a living, right? But I don't blindly follow or quote GATA or Zerohedge or Schiff or Celente or Williams, who have been wrong on gold the last few years. I do my own research and I challenge you to find anyone who sells gold for a living who has called the markets better.
Lastly, my 2015 predictions for gold came within about $80 of the $1,000 mark and the year ain't over.
2015 Predictions for Gold and Silver 1/9/2015 http://buygoldandsilversafely.com/gold/2015-predictions-for-gold-and-sil...
Thanks for the wishes and good luck to you.
I appreciate the response Doug. It appears you have been fairly accurate lately, but you listen to the BlowHorn? Really? LOL...
It is strange that anyone would want to make wild bullish predictions anymore (in paper dominated and rigged markets). Like you, I always told people that dollar cost averaging in would help level out the price slams. So yes, I think you provide some good advice for people wanting to accumulate a solid physical position. James Turk said that for years but nobody believes him anymore, like most of the gold bulls/writers.
If you look at gold in Real, Rubles, and Rand, you see the future of gold against the USD. Up 300-400% plus last ten years. Good luck.
My experience with silver during the runup to $50 in 2011 is the importance of liquidity (how easy it is to sell). US Mint coins (and Maples) were by far the most liquid. Rounds and bars were discounted substantially. I sold off everything, but not as easily as the coins.
I've loaded up again, and this time I have bought no rounds or bars. ASE's, Maples, Onzas, and recently, Perth mint Kangaroos. I'm going for ease of sale, either for a big runup or SHTF. Sealed boxes are the ultimate in liquidity.
I refuse to buy any USSA minted silver or gold. If they wish to confiscatre gold or silver, anything with the USSA mint stamp is theirs. Just my .02¢
TOTALLY MISLEADING. I just checked the best price for the lowest premium silver coin at both monex and APMEX. Guess what? APMEX was cheaper... plus the APMEX coin was 9999 purity rather than 999 purity (a slight benefit).
If you purposely select a specific coin to make a certain dealer look cheaper, you can almost always do that.
Personally, I don't want high-premium coins or bars (though I do want a nice "coin-like" appearance rather than "rough bar" appearance). So if you want the most silver for your money, currently APMEX is modestly cheaper. If you want the exact coin mentioned in the article, then monex is currently a bit cheaper.
Beware articles written by people with vested interests!
Do your own research. And make sure to factor in quantity and shipping, because sometimes one vendor is cheaper at one quantity level, but the other is cheaper at other quantity levels.
I don't know if anyone else noticed, but I've never seen so much passion around buying PMs at ZH. This feels like the beginning of a move up. I thought we would see $12.xx, but now I"m not so sure. And if we do see $12.xx, it won't last long. The word is out. Buy it cheap while you can. Welcome to the party.
I agree. Just the last 2 or 3 days the manipulators seem to be "on vacation", or at least far from the top of their game.
Let's hope the manipulators have been "turned off" by the federal reserve and/or relevant governments [to help generate the feeling of inflation, which billions of morons have been trained to believe means an improving economy].
They need to let it naturally find its price to ward off a supply problems which seem only to be getting worse with time. They cant keep pounding it down, there are limits to what they do. Its finite and because of price its flying off the shelves at a break neck pace right now, price has to come up to curb the demand trend, if not it could get very interesting sooner than later. The price seems simply too low. 72 to 1 when miners are pulling it out at around 10 to 1??
http://www.visualcapitalist.com/forecast-when-well-run-out-of-each-metal/ this chart says there is enough silver supply to last aprox. 15 yrs depending on demand? Its finite and it seems very cheap at the moment. Its possible it will be one of our first resources to deplete, certainly before gold and its under 20 an oz. I call it a no brainer over the long term, depending on if everything holds together. If it doesnt hold together meaning bad crash, your holding real money. I think its a good investment. It has lots of unique properties, its great stuff. There is actually less silver supply to meet demand than gold and almost all gold gets hoarded.
Its a no brainer and thats why when the price dips to these levels for "real" money its literally flying off the shelves. There are some things they will never be able to fully control gold and silver are in that category. In my opinion. The estimates for this year are at least a 57 million oz deficit, some ive seen as high as 81 million oz, which will have to come from reserves.
If you goto gainsville coin silver rounds they are there on the 1st page but 2 thru 5 are sold out, how many internet companies would love to have that problem? Demand is incredible at the moment. This is my opinion.
http://www.gainesvillecoins.com/category/469/silver-rounds.aspx?cat=469&...
I dont believe in paper gold or silver over the long term because it defeats the purpose of owning the two, unless your a short term trader. I do like miners, but again they are only as secure as their management.
More silver is mined every year than in the first 5000 years of silver usage.
1 BILLION OUCES
Soon there will be enough silver to replace coper electrical wiring at home.
The price is not going up anytime soon