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US Silver Eagle coins questioin

ajaanajaan Posts: 17,396 ✭✭✭✭✭
in Precious Metals
I was at a local coin show yesterday and looked at some common date silver eagle coins. I know the spot price of silver is around $11.25/oz so I was thinking of maybe buying a few of these coins. To my surprise the price range for these was $17/coin to $24/coin. That is $5-12/coin over spot. Is this common? I would have thought these traded for only $3-4 over spot. I guess I've been out of the loop too long.

DPOTD-3
'Emancipate yourselves from mental slavery'

CU #3245 B.N.A. #428


Don

Comments

  • SilverBaronSilverBaron Posts: 767 ✭
    Ajaan....... Up untill 6 months ago, or so, yes..... ASE's could be had for $1-4 over spot, except for the 1996.

    Now it is common for ASE's to sell for $7-12 over.

    Personnaly.... I have stopped buying ASE's due to the high premium.... I look for other silver.




    Keep on stack'n!!
    Silver Baron
    ********************
    Silver is the mortar that binds the bricks of loyalty.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    Follow what Silverbaron said! Look for other silver besides ASE. It might be a lot cheaper but expect to pay a premium over spot for all silver. Its really hard to find silver exactly at spot.
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  • CladiatorCladiator Posts: 18,050 ✭✭✭✭✭
    I think those that are selling silver are refusing to lower their prices to reflect the spot price of silver and they are using the rationale of limited current availability. They are reasoning that if there is not much silver out there to be bought they can jack the prices and ignore the lower spot of late. Supply & demand. The spot went down, the demand went up, the supply went down, the demand stayed up, the price stayed up.
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