Come and get it boys....
cinman14
Posts: 2,489 ✭
teletradedirect.com
1 oz. Silver 2008 Vancouver Olympics Maples
Qty 1-9: $12.71 ea.
Qty 10-49: $12.58 ea.
Qty 50+: $12.54 ea.
1 oz. Silver 2008 Vancouver Olympics Maples
Qty 1-9: $12.71 ea.
Qty 10-49: $12.58 ea.
Qty 50+: $12.54 ea.
0
Comments
<< <i>teletradedirect.com
1 oz. Silver 2008 Vancouver Olympics Maples
Qty 1-9: $12.71 ea.
Qty 10-49: $12.58 ea.
Qty 50+: $12.54 ea. >>
$3 over spot on a "larger" quantity? No thanks. Thats a 25% over spot premium and your representing that as some type of "deal"?
<< <i>$3 over spot on a "larger" quantity? No thanks. Thats a 25% over spot premium and your representing that as some type of "deal"? >>
Rather telling about the current market for one-ounce silver bullion that it's one of the lower markups available...
<< <i>
<< <i>teletradedirect.com
1 oz. Silver 2008 Vancouver Olympics Maples
Qty 1-9: $12.71 ea.
Qty 10-49: $12.58 ea.
Qty 50+: $12.54 ea. >>
$3 over spot on a "larger" quantity? No thanks. Thats a 25% over spot premium and your representing that as some type of "deal"? >>
Find it cheaper Phil... Then post your site so we won't have to pay such a "high" premium.....
How much premium do you pay on those Pandas again....
They are the same 1 ounce round as the Maples are, aren't they?????
<< <i>Sure is Ziggy....I remember last year and every other year before that about buying silver at about a buck an ounce over, and many times even as low as 50 cents over. I think this is a good time to just sit on the sidelines. >>
I was buying it at .50 to a dollar over spot last year as well... When silver gets back to the 16 to 18 dollar range
the spreads will lower.....
<< <i>
<< <i>Sure is Ziggy....I remember last year and every other year before that about buying silver at about a buck an ounce over, and many times even as low as 50 cents over. I think this is a good time to just sit on the sidelines. >>
I was buying it at .50 to a dollar over spot last year as well... When silver gets back to the 16 to 18 dollar range
the spreads will lower..... >>
Or when reality hits and WE stop lining the pockets of greedy dealers. Do you think the same dealer who charges $170 for a 10 oz bar today is buying them for more than $98 from John Q. Public right now? Granted, silver walk ins arent very high right now, but I guarantee there are a few. The simple truth is that these greedy dealers who took in THOUSANDS of ounces at $20+ simply dont want to take the hit, they want YOU and ME to take the hit for them. I refuse. If silver ran up over double in a 3 month span, would these same dealers charge you "3 months ago prices" on their "3 months ago inventory"? Of course not. So I for one wont be paying for their "3 months ago inventory" now that silver has lost 50% of its value.
<< <i>Hey Gecko, I'm ready for some $13.00 one ounce silver panda's to go with my new Maple Leafs, where do you suggest I go?
Silver pandas are heavily numismatic, you and Cinman both know that. Thats like saying "I want some 1995-W proof silver eagles at $13.00". Both are bullion, both have values highly in excess of bullion value. Same thing with a Johnson Matthey 1 gram silver bar. It has about 30 cents worth of silver in it, yet I can sell them all day long for over $10. Junk silver melts currently at about 7x face. You sell me 50 1916-D dimes in AG/G for 25% over melt, and i'll sell you every silver panda I have for just 5% over melt.
<< <i>
<< <i>Hey Gecko, I'm ready for some $13.00 one ounce silver panda's to go with my new Maple Leafs, where do you suggest I go?
Silver pandas are heavily numismatic, you and Cinman both know that. Thats like saying "I want some 1995-W proof silver eagles at $13.00". Both are bullion, both have values highly in excess of bullion value. Same thing with a Johnson Matthey 1 gram silver bar. It has about 30 cents worth of silver in it, yet I can sell them all day long for over $10. Junk silver melts currently at about 7x face. You sell me 50 1916-D dimes in AG/G for 25% over melt, and i'll sell you every silver panda I have for just 5% over melt.
Not sure what you are talking about. There seems to be a slight premium for what I am finding for the Panda versus the ASE and Maple Leaf, but not much.
Example
I am not asking to buy collector years Pandas, just new bullion, like the 2008 Maple Leafs you are claiming are a rip off sub 13.00.
I will take the regular issue as well.... Phil, I get your point. But you must first admit you have got to understand
what I am saying as well...
We have had the pissing match as well as a Tit for Tat on a few issues. But you know you cannot, on any consistant
basis find silver for melt... And then to inject sarcasm into my post about this not being a "deal"....
I will agree that SOME Pandas that have a numismatic value...But so do Maples
There are many different "privys" that carry a hefty premium... But that is not what my OP was concerning.
There is no fire here Phil, please move on......
But, I do.
<< <i>
<< <i>
<< <i>Sure is Ziggy....I remember last year and every other year before that about buying silver at about a buck an ounce over, and many times even as low as 50 cents over. I think this is a good time to just sit on the sidelines. >>
I was buying it at .50 to a dollar over spot last year as well... When silver gets back to the 16 to 18 dollar range
the spreads will lower..... >>
Or when reality hits and WE stop lining the pockets of greedy dealers. Do you think the same dealer who charges $170 for a 10 oz bar today is buying them for more than $98 from John Q. Public right now? Granted, silver walk ins arent very high right now, but I guarantee there are a few. The simple truth is that these greedy dealers who took in THOUSANDS of ounces at $20+ simply dont want to take the hit, they want YOU and ME to take the hit for them. I refuse. If silver ran up over double in a 3 month span, would these same dealers charge you "3 months ago prices" on their "3 months ago inventory"? Of course not. So I for one wont be paying for their "3 months ago inventory" now that silver has lost 50% of its value. >>
Silver broke $20, both ways, back in March, but stayed up in the $18 range well into July. Anything bought in over the counter back in March is long gone. For you to state otherwise is incorrect.
However, people who didn't sell at $20+ because the self-appointed experts told them it would go higher stopped selling altogether when the futures markets crashed in July, because they didn't want to admit that they were "wrong" by not selling at $20+. They are still waiting for it to break $20 again.
Meanwhile, demand increased greatly during the spot price slide because people who saw the run up over $20 thought that the lower prices were good buying opportunities. This has caused higher and higher premiums for the little merchandise that is for sale. For a similar market, go out and try to buy a good hybrid car at under MSRP.
It's called the "Law of Supply and Demand." I suggest that you google it.
Nobody has to buy at these high premiums. We're not selling insulin here (which has more or less doubled in the past ten years, but that's another story). However, people who do want the product have to pay the market rate.
TD
<< <i>Tom, because of this "supply and demand" scenario, is your shop buying in over the counter at well above spot then? It IS a two way street, is it not? >>
I can answer that one, YES. If you brought me a strapped case of silver eagles right now I would pay 2-3 dollars over spot without batting an eye. You had 100 Oz englehard bars? I would take several at plus 2. You wanted to bring in gold eagles, maples, etc... we would pay over spot for those. You can even bring us US90 which we have battled over about typically buying it back of melt we would pay a bit over melt depending on quantity. Before you speak about all dealers, check your facts.
TD
<< <i>FWIW, our total silver purchases for Monday-Thursday of this week are seven ten ounce bars and $165 face in 90%. >>
Translation: virtually no one is willing to sell at the usual relationship to "spot"...
<< <i>
<< <i>FWIW, our total silver purchases for Monday-Thursday of this week are seven ten ounce bars and $165 face in 90%. >>
Translation: virtually no one is willing to sell at the usual relationship to "spot"... >>
Right. But we're expected to sell unlimited quantities of product we do not have and cannot get at the paper spot price.
TD