Even Apmex is getting on the premium+ train
NumbersUsacom
Posts: 1,457 ✭
what they normally sell at 10-10.5 x face (based on 11.29 spot) they are now selling at 13+ x face, this practice just started yesterday
afternoon.
afternoon.
NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
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<< <i>what they normally sell at 10-10.5 x face (based on 11.29 spot) they are now selling at 13+ x face, this practice just started yesterday
afternoon. >>
It's refered to as: supply & demand.
The B&M stores in my area were buying at 6x FV and selling for 11x FV, what a rip!
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
I did appreciate the fact that they were remaining above: the gas station price gouging when the hurricane strikes mentality.
They have been a market credible place to buy and sell and I hope this is just a very temporary abberation.
Its not like they are selling ms68 Morgans, we are talking 90% U.S. bulk silver.
<< <i>what they normally sell at 10-10.5 x face (based on 11.29 spot) they are now selling at 13+ x face, this practice just started yesterday
afternoon. >>
all i know is that if i had 10000 dollars in US 90% silver, face value,
i would not sell it for mere melt. i would want a premium from APMEX.
of course APMEX will have to pass on the costs.
<< <i>Opa,
I did appreciate the fact that they were remaining above: the gas station price gouging when the hurricane strikes mentality.
They have been a market credible place to buy and sale and I hope this is just a very temporary abberation.
Its not like they are selling ms68 Morgans, we are talking 90% U.S. bulk silver. >>
Reality check .... PM's are in panic mode demand. Wholesalers unable to meet the demand from their retail cumstomers = higher cost & it's going to get passed along the line. Every one is scrambling for the same piece of pie. This is not a time to buy, but sell, sell, sell.
You have an excellent point there "SELL SELL SELL"
In honor of the memory of Cpl. Michael E. Thompson
<< <i>This morning I stopped by my local B&M and purchased an original roll of MS 1963 Franklin halves for $95. I realize that this price is above the bullion melt value, but the fact that they were MS Franklins made me feel better about the transaction. >>
Man that's a deal IMO. You won't find that very often esp. for original rolls even if there lower MS coins. YOU SUCK!
That's been my rationale for buying OBW rolls of silver for the past couple of years as I accumulate more silver - I pay a little more for original rolls, and it feeds my collector instincts while it's also a play on the price of silver. But $95 for an original roll of 1963 halves is great!
I knew it would happen.
<< <i>what they normally sell at 10-10.5 x face (based on 11.29 spot) they are now selling at 13+ x face, this practice just started yesterday
afternoon. >>
The other day we sold six bags of 90% to another dealer for approx. $1700 over melt per bag. Six months ago he would have paid us $400 per bag UNDER melt.
That is today's market. If you want to buy at the market six months ago, fire up the old Wayback Machine.
It's never time to panic. The market is what it is, and right now the market is demanding a premium, due to physical shortages. Not just spot shortages, but general shortages.
Whether or not the shortages get worse or not - that is the Question.
As Congress gives more and more money away, requiring the Fed to create more and more money to pay the interest on more and more public debt, I am hard-pressed to see how shortages of the only monetary hedge left that really works - can get anything but worse.
Panic, no. Common sense, yes.
I knew it would happen.
Run in circles! Scream and shout!"