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Premium on 1 oz. American Gold Eagles

jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
in Precious Metals
My local guy wants spot + $70 for 1 ozer AGE gold bullion. I think that's too high. Comments?
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Comments

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I'd say that's high. AMPEX is at $48 over.
    Avid collector of GSA's.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    yep way too high. There is someone selling 3 for spot + 20 shipped!
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  • TWQGTWQG Posts: 3,145 ✭✭


    << <i>yep way too high. There is someone selling 3 for spot + 20 shipped! >>



    That's a really good price. Who is selling at this level?
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  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    I'll let you do all the hard work and searching image
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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>

    << <i>yep way too high. There is someone selling 3 for spot + 20 shipped! >>



    That's a really good price. Who is selling at this level? >>




    Plenty of them out there if you deal square with folks.
    Avid collector of GSA's.
  • TWQGTWQG Posts: 3,145 ✭✭


    << <i>Plenty of them out there if you deal square with folks. >>


    What's that supposed to mean?
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  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>

    << <i>Plenty of them out there if you deal square with folks. >>


    What's that supposed to mean? >>



    Most of the Chinese counterfeits are offered below spotimage
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  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭


    << <i>My local guy wants spot + $70 for 1 ozer AGE gold bullion. I think that's too high. Comments? >>



    Well, if we have to order them from an official distributor they cost us over $40 over. If a guy wants to make $28 or so on a $1169 sale that is not unreasonable.

    That is not to say that some guy who bought a bunch in isn't selling them for less. I'm just saying that as a base price +$70 is not unreasonable. Go to the guy selling them at +$20 and tell him you want to buy 100 pieces at that price and see what happens to the price.

    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.
  • bstat1020bstat1020 Posts: 2,151 ✭✭


    << <i>

    << <i>My local guy wants spot + $70 for 1 ozer AGE gold bullion. I think that's too high. Comments? >>



    Well, if we have to order them from an official distributor they cost us over $40 over. If a guy wants to make $28 or so on a $1169 sale that is not unreasonable.

    That is not to say that some guy who bought a bunch in isn't selling them for less. I'm just saying that as a base price +$70 is not unreasonable. Go to the guy selling them at +$20 and tell him you want to buy 100 pieces at that price and see what happens to the price.

    TD >>



    I am sure the guy selling only 3 of them at spot is just a collector just trying to sell the only 3 that he has. Most average collectors are not going to have 100 pieces. Plus if someone is buying 100 pieces they should be able to get them at less than +$70 each in that quantity. JMHO.
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  • derrybderryb Posts: 36,795 ✭✭✭✭✭
    45.95 over spot at Tulving. 20 coin min. Free shipping.

    Under spot on ebay with bing cashback and Mr. rebates if you are quick on the draw!

    "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

  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    The "spread" on 1 oz. gold used to be around 3%. If a guy is charging $70 over spot, then I assume his buy price is about $20 over, which still puts the spread at 5%.

    I'm thinking that the spreads have widened recently.

    Yes, I've dealt with Tulving, but I wasn't planning on buying 20 oz., and his spread on a 10 oz. tube of 1/4 ozers is about 8 3/4%, which is not unreasonable, and his minimums seem to depend on what the item is.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,795 ✭✭✭✭✭
    The spread normally includes the fabrication premium and used to remain quite stable. But, as physical metal demand grows in relation to paper metal demand, the premium for physical will continue to increase as a percentage of the spot price/paper price. Look for this rise in premium to continue as metals held in paper accounts start to become more suspicious (found to not be actually backed by physical metal). Each report that hits the press concerning inadequate physical supplies in paper funds will quickly jack up the premium, while confidence in paper metal will be slow (if ever) to return. This equates to likely rising premiums that will have a very difficult time in the foreseeable future of ever returning to their "norm."

    Just as you have seen PMs rise over time and prove to be a great investment, you are very likely to see premiums do the same. This will result in very high rewards for those that chose physical over paper.

    "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

  • RGJohnRGJohn Posts: 402


    << <i>I'd say that's high. AMPEX is at $48 over. >>



    But with the shipping ( I believe it's $25 but correct me if I'm wrong) the total is actually $73 so the local guy is cheaper plus you can inspect it prior to purchase. And you build local goodwill that may be of use to you another time, such as when selling.
    Many, many perfect transactions with other members. Ask please.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Yes, the shipping charge kills most small PM deals!image
    Avid collector of GSA's.
  • derrybderryb Posts: 36,795 ✭✭✭✭✭


    << <i>Yes, the shipping charge kills most small PM deals!image >>



    Free shipping will require quantity pruchase.

    "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

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