Saw this about premiums.....
SurfinxHI
Posts: 2,458 ✭✭✭✭✭
Thoughts?
Dead people tell interesting tales.
1
SurfinxHI
Posts: 2,458 ✭✭✭✭✭
Comments
Well @ElmerFusterpuck gets around!
He who knows he has enough is rich.
Goes to show you how valuable the BST is for reasonable premiums, reliability from known forum members and in hand stock.
Yeah, I did see that. That dealer does do high volumes of sales out there on IG. The stackers are going crazy for sure. Has anyone here seen premiums like that. I haven't bought 90% in quite awhile.
10-4,
My Instagram picturesErik
My registry sets
Instagram or ebay seem like a good place to dump the junk. Wink wink, nudge nudge.
Edited to add, anyone in the market for this beauty? Only asking 4% over melt.
Click on this link to see my ebay listings.
The best I can offer you is 3.9% over melt for that poor representation of a map on the United States over the top of what I believe is a silver coin
I've got 20 one oz generic rounds at $1.75 over spot on the BST and they haven't garnered a peep; same ones on Ebay for just over a buck over spot and same thing, not a peep. So $4 to $6 over spot for in stock seems a bit of a stretch to me...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
It might be, but he does say "retail"
I think there are a lot of transactions at the retail level that are not found on EBAY, and def not BST. I can walk into my B&M right now and sell eagles at $3-4 over spot, b/c he is charging $7 over....and getting it.
Generics (1 oz) are moving at $1-1.5 over spot for me on various venues. Better than generic are at $2-3. But the run from 24-28 in three days might have folks thinking twice.....maybe it will go to 35 by next friday? who knows. crystal ball is cloudy.
I'm seeing sky high premiums on retail/wholesale sites and elsewhere, but no crazy demand locally at these rates.
I think we're near a temporary top, silver is well due for a significant pullback. The perma-bulls will say "this time it's different". Gold should hold up pretty well short and long term. JMHO.
Keep in mind that advancements or pullbacks in PM prices are controlled by the futures paper market's spot price and have nothing to do with the supply or the demand involving physical PMs. The supply and demand of physical metal only affects the premiums. Currently higher premiums are telling us there is either a lower supply or higher demand. I suspect it is both.
And yes, even though there is currently a lower supply or higher demand (or both) for physical metals, the futures market could easily bring a price dive at any time. Would not be the first time.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
With the price of silver eagles so high recently, I have found that if I carefully search the internet, I can sometimes find certified silver eagles, cheaper than the raw ones.
Interesting
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Premiums are the seller's way of telling you he expects higher base (spot) prices. If you agree with him you pay them. If not someone else pays them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Interesting
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Likely people put them up and then forget the prices they have set....
Question: How much time and effort does it take to find them? Worth it for a couple bucks? Everyone's answers would be different on that.
Also, if you have found them, have you consummated the purchase at the "lower" price?
If they are ebay BINs, that may work, if they are other websites, that may not work and just "finding" a lower price may not equate into a purchase at that lower price.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
You are right. Many times the prices have not been updated.
I am retired. With the current situation, time and effort are not an issue.
It is worth a couple of bucks to me.
I have always accumulated silver a little at a time. So, if I can snag a couple of certified SAE's for close to the price of raw, including shipping, I will jump right on it.
And if I was going to buy a lot of silver, it sure wouldn't be at today's prices.
Never had a problem consumating the "lower" price purchases.
And, I have never bought a single ounce of silver or a coin on ebay.
Stack on!
Premiums reflect "monetary demand - the degree of reluctance of the current owners of gold to part with their gold at current prices."
Higher premiums tell us sellers expect higher spot prices.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Higher premiums mean that sellers don't want to be hosed by increased volatility.
I knew it would happen.
Or they've seen these wild swings before and choose not to participate in the idiocy.
I know those times drove me crazy in the shop.
Wholesale AVAILABILITY to replenish inventory got to be too much hassle. Let it settle and get back to bizz.
edited to add that I guess that's exactly what jmski said.