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Calling all captains....especially Capt. Henway

JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
in Precious Metals
I was just at my local B & M (US Coin Gallery).

They are a pretty big bullion dealer in the midwest and a direct mint buyer.

The owner told me to expect a huge premium spike on silver and gold eagles.

He is basically sold out and can not keep them in stock.

He is selling gold eagles at +$90 spot and buying @ +$50 spot depending on quantity.

He just bumped his premium on silver eagles to +$5.00 over spot and expects it will go up from there. He was at plus $4.00 and sold out.

He said he has never seen so much buying and warned to make sure when buying silver now to make sure they have it in stock before you commit.

He thinks delivering will be an issue going forward.

Tom are you experiencing the same? Thx, MJ
Walker Proof Digital Album
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......

Comments

  • CaptHenwayCaptHenway Posts: 32,245 ✭✭✭✭✭
    Yep.
    Especially the gold and silver eagles, which people want because they are in short supply. Premiums are way up.
    Other forms of gold are available, but those supplies are drying up. We just found out Friday afternoon that we will not be able to get more one ounce bars until after Christmas.
    If people come in Monday to buy the nice big Friday dip, premiums will go up even more.
    MOO
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • jmski52jmski52 Posts: 22,904 ✭✭✭✭✭
    $5.00+ over spot on silver eagles. Whoa! Isn't that about the highest they've ever been?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>$5.00+ over spot on silver eagles. Whoa! Isn't that about the highest they've ever been? >>



    I made him repeat it three times as I didn't believe my ears. He said just watch what happens this week. He was skeptical that Apmex or CNI would have any quantity in stock this week. I will be in CNI ( LA) this week. I'll check it out. Note, my guy had only 300 eagles left in stock. He usually has a limitless backstock. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • jmski52jmski52 Posts: 22,904 ✭✭✭✭✭
    I just check Tulving's site and they don't appear to have any silver eagles.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    I hate to be the devil's advocate (actually I LOVE it image ), but how much of this is genuine out-of-stockiness, and how much of it is dealers just not wanting to sell post plunge after having bought pre plunge?
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    They were sold out before Friday for what it's worth and it doesn't quite work like that regardless.............MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • OPAOPA Posts: 17,124 ✭✭✭✭✭
    As of 9:48 PM EST...APMEX has the 2009 bullion silver eagles still available @ $4.19 over spot if u order less than 100 ... I believe last week it was about $3.19 over spot.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    This would mean that all those patting themselves on the back for selling at the peak last week cannot yet buy back in at lower prices with gold & silver down 5%. In fact they would probably have to pay much higher prices to get back in on the AGE's and SAE's. Welcome to Comex paper mania.

    What do the Captain and Tennille have to say on this?

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • CaptHenwayCaptHenway Posts: 32,245 ✭✭✭✭✭
    Always obey The Law Of Supply And Demand!!!!!
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    <What do the Captain and Tennille have to say on this?>
    <Always obey The Law Of Supply And Demand!!!!! >

    I wonder what Muskrat Susie and Muskrat Sam have to say as well.... MJimage
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
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