How are the premiums on precious metals over this long weekend? Post B&M experiences here.

jmski52

I may be completely wrong, but if you happen to visit a B&M this weekend, please share your info on bullion markups/premiums.

I feel a fair amount of uncertainty in the market right now, and I would guess that the premiums will be high or that bullion will be hard to obtain, a' la the "piecesofme" experience.

Coulport

The shop in my area that does the lion's share of the bullion business solved the problem by closing early Friday and will be closed Sat & Mon.
Another shop I frequent would rather not deal in bullion but indicated he would buy gold fractionals at spot on the eagles and 5% back on the others. He already turns away one ouncers saying why make $5 on a $1800 purchase. He just sends them to the above mentioned shop.

USMC_6115

I tried yesterday, and today.. Closed!

tydye

Near me the dealer's cases are full of silver and gold. And the smaller guys (ones that do not ship weekly to the refinery) are cash strapped. I had some ASE seconds to sell but ended up trading them for a gold piece.

cone10

Sweet CC tydye I was shopping around a $100.00 of 90% silver and best quote I got was 20 times face. He told me at these levels unless its a super deal he's not buying.

mrearlygold

Hmmmmm, just scrapped out yesterday.

jmski52

My local guy quoted me AGEs, based on yesterday's close of 1,884.20 as follows:

1/4 oz. $495.00 (5.0% over spot)

1/2 oz. $990.00 (5.3% over spot)

1 oz. - spot + $70 = $1,954.20 (3.7% over spot)

Not bad for premiums, although I must note that after yesterday's close I saw gold drifting lower in the aftermarket on CNBC, and in addition - I didn't press him for his buy prices, so his spread is likely higher than the percentages I listed above in parentheses.

I went in to see if he had any Platinum Eagles I need, but he didn't. I'm not decided on what I'm going to buy next, but I do know that it won't be paper.

metalmeister

Local B&M buying Silver at -1$ per ounce

MsMorrisine

<< <i>My local guy quoted me AGEs, based on yesterday's close of 1,884.20 as follows:

although I must note that after yesterday's close I saw gold drifting lower in the aftermarket on CNBC. >>




CNBC is wonked.


Once globex closes and Spot closes, it is closed.

1884.20 is the spot close off kitco and almost the high of the day.

floor trading of futures closes at 1:30pm on Friday, but electronic trading on globex continues until 5:15pm.

Gold futures went out around 1877 in the pits and it moved up from there on globex to finish off near 1886 at almost the high of the day.



If, after 5:15, CNBC is showing gold down, then they are pulling some wrong info from somewhere. I've seen them have wrong info before on gold and silver.

coinnerd

Locally

1 ounce silver anything spot + $1.50 except new eagles in tubes.
10 oz silver spot + .70 per ounce
Larger spot + .50
1 ounce gold Kugerand spot +$35

DrBuster

My guy:
Silver - buys $2 back, sells 90% at 1~ x above what coinflation would be, sells 999 at spot+1
Gold - last I bought from him he sold at spot or spot+5 for 1/10s and 1/4s, not sure what he's buying at, but he's spooked by the moves and said he wasn't touching it to buy last week when I went in.

smallchange

Premiums same as always. 1 ounce AGE's 70.00 over spot. ASE's 3.50 over spot. Plenty on hand.

Jim