Peter Hug/Kitco on current gold and silver supply
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https://www.kitco.com/news/2020-04-16/Gold-silver-coin-crunch-is-not-getting-better-Peter-Hug.html
He said that the premiums on gold eagles are $125-$150 over and silver has a much higher percentage, like $7-$12 over on eagles.
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On ebay Just last week I sold four ounces of raw $10 AGEs for avg. of $200 over spot per ounce. Also sold a couple of tubes of ASEs for avg. of $10 over spot. While I didn't net these high premiums it doesn't diminish the fact that buyers are paying them.
The loss of further production of US gold coins (temporary WP Mint closure) will only add to the current supply issue. At least they were able to move ASE and ATB puck production over to the Philly Mint.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Those are good numbers, but even as a top rated seller you lose over nine percent with ebay and paypal.
Seller FVF promo, the only reason I listed. It's like reverse ebay bonus bux.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Good interview.
I knew it would happen.
I haven't seen that particular promotion in a year ,. that was a favorite of mine
i'm missing that promo, too.
It's for 30% off Top Rated seller FVF (6% plus another 10% off of that). On a $1000 sale promo FVF is $37.80 instead of the Top Rated seller FVF of $54.
What I like about these FVF discounts is that although they are only for a few days on auction items, they're good for the full 30 days of a buy it now. Secret is to activate the offer, THEN list (not relist) your items to take advantage of the full 30 days. I also list some extra stuff at a very high price (so it won't sell) during the promo and then "revise" those listings to add more stuff during the 30 days after the promo listing period has ended. While you cannot add listings after the promo listing period you can "revise" listings after the listing period and before the 30 day initial buy it now period ends.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Yeah, they might be asking big premiums when they are selling, but offer them some and see where they are, not much over spot if any . That's why a lot of the companies are listing their selling prices, but not the buying prices, you have to call them
We do the same, serious sellers will call. Last I remember we are paying $3.75 over on small quantity ASE's. No one has offered any silver over the phone to me in over two weeks though. I have had a few people mailing me gold, which we are currently around 3% over bid on 1oz pieces.
Just had someone offer me $22 an ozt for generic silver rounds. Am I crazy to pass up making that kind of premium or an I crazy to not hold and wait for higher premium spot price. Cost of replacement even wholesale is skyrocketing.
Its funny I get those offers but rarely sell those types of items.
you don't sell PMs or coins?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Well... I think the 'crunch' is soon to be over....and gold will drop a bit....Some forecasting $1800/oz....but I doubt that unless this entire virus thing blows up before the projected demise and return to business. Then, all bets are off...Cheers, RickO
Hug has had videos since, including this week; his message has been the same, the premiums will come down, don't buy at crazy prices; I would be a seller unless I can buy and then sell quickly. This is not a normal economic crisis.