Nearly $7 Spread on Spot Price and Selling Price Of U. S. Eagles
PipestonePete
Posts: 1,938 ✭✭✭✭✭
What is the cause of this large price spread? Are Eagles still a value when the premium is this large over the spot price?
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Unless the spot price stays in the mid 12's or lower for a few more months. Then you may see some premium vanish..
Unless you sell on Ebay with 5.95 shipping......
A friend of mine indicated that one B&M shop he talks to is not offering silver as a rule to his customers. Rather he is hoarding it on his own account. No shortages of orders either.
roadrunner
Simple, do you want to buy silver or a promise to deliver that they can cancel or worse, just close thier doors with your money. The price on COMEX is artificially manipulated as you can tell by what people are paying for bullion. At some point all the silver will be bled out of COMEX and they will default. Then the $13 silver contract will be cancelled due to " force majeure" as they did to the Platinum contracts in Russia last year. If silver goes up 50% in the next 30 days expect most "advanced sales" to be worthless.
I sold some spot eagles on Ebay last week at 19 each. Anything around that rate on Ebay is SOLD. I have as much confidence in COMEX as I had in WAMU, Lehman etc.
Don't buy the lie, buy the bullion.
Anyone for $40.00 silver in January?
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
Call it tinfoil hat time if you want, but is the government turning retail precious metals trade into a gray market?
I knew it would happen.
roadrunner
<< <i>I was happy to buy 11 silver eagles a few weeks ago at a local pawn shop (all they had) for $12.50, (no tax) spot was $11.04, now I'm reluctant to even sell on ebay even at $20, I still feel silver will go over $25 with the apparent shortage of safe places to put money right now. With the credit crunch growing deeper I have to believe that the upcoming holiday retail sales will be very low causing a second wave of losses on the stock market.
Anyone for $40.00 silver in January? >>
Yup ... I'll bet you a cup of Java it's not gonna happen. Worldwide Economic slowdown will take care of that. Also, there is more silver in the world that could be melted, than "Carter has Liver Pills."
They wanted $32 for proofs.
...no thanks.
Random Collector
www.marksmedals.com
www.AlanBestBuys.com
www.VegasBestBuys.com
<< <i>some dealers are complaining of a shortage of silver eagles and morgans and peace dollars... hence the higher premium. >>
Funny thing is that many complain about it, charge the premium, but they won't buy for close to it...they want to buy for around spot and sell for the large premium on it.
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
<< <i>Funny thing is that many complain about it, charge the premium, but they won't buy for close to it...they want to buy for around spot and sell for the large premium on it. >>
I suppose it all depends on the shops or your location.
Down here B&M shops are paying well above spot for any type of silver, several dollars above spot in fact.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Derryb......ASE premiums were higher then, than now.
Knowledge is the enemy of fear
LOL let's not let facts get in the way.
why did you bump a 14 yr old thread? smh
The OP does not tell us that. It tells us that premiums were "nearly $7." They are well over $10 for that ASE the OP talks about.
Like the puppet says "let's not let facts get in the way."
"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
Puppets??? Thanks for bringing me back to 1986. RGDS!!!!
"Obey your, Master, Master, Master of puppets, I'm pulling your strings, Twisting your mind and smashing your dreams?" Happy New Year!!!
Read the rest of the thread. You will see prices being paid for ASEs at the time. You can then research the spot price of silver at the time. A simple exercise in mathematics will show premiums for ASEs were higher on a percentage basis then, than today.
All of which is a moot point though as premiums on ASEs have no bearing on overall demand for silver nor do they predict silver prices.
Knowledge is the enemy of fear
Because they aren’t at a bunny-boiling level of obsession yet…
Called A-Mark for the 2022 eagles. $8 over spot. My regular dealer is spot +$8.25
Nothing new under the sun.
Before the latest silver run-up ,I've bought eagles $2-4 over spot the last 10 years, local B&M and on-line. My opinion it should settle back to those premiums after a time.