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Are bullion premiums higher now?

jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
in Precious Metals
I'm wondering if bullion supplies are drying up at these lower price levels, and whether physical bullion premiums have risen yet. Has anyone bought physical bullion in the last day or two and what are you seeing?

I do know that platinum auctions have virtually disappeared from ebay and the only listings left are over-priced fishing expeditions.
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Comments

  • Yukoncornelius1Yukoncornelius1 Posts: 654 ✭
    Generic .999 silver rounds and bars are still $2 over where I buy locally, Eagles and Maples still run $3.50-$4 over however 90% has come down as I just bought some decent full rim barber quarters for 40 cents over spot yesterday. A few weeks ago 90% was selling for nearly $2 over spot where I live, if silver goes down a few more bucks I am going to buy the rest of his standing liberty quarters along with some barber and walker's.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    I bought a $20 Saint yesterday, common date in UNC. There's definitely a higher premium than when gold was at 1900.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • SmallTownCoinsSmallTownCoins Posts: 688 ✭✭
    Guy calls yesterday and offers me $3,000 for 2 Gold Eagles,
    I said that way under melt.. He says Yeah but TV says gold
    dropping to 1450 tomorrow so thought Id give you a chance
    to bail out of a couple ounces...
    Aaahhh Thanks, but No Thanks..Hahahahaaa..... click !!!

    Support your local Coin Shop
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  • CaptHenwayCaptHenway Posts: 32,115 ✭✭✭✭✭


    << <i>Guy calls yesterday and offers me $3,000 for 2 Gold Eagles,
    I said that way under melt.. He says Yeah but TV says gold
    dropping to 1450 tomorrow so thought Id give you a chance
    to bail out of a couple ounces...
    Aaahhh Thanks, but No Thanks..Hahahahaaa..... click !!! >>



    Why coin dealers drink......
    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.
  • derrybderryb Posts: 36,792 ✭✭✭✭✭
    bullion premiums have slowly risen over the last few years. Not only a supply issue, but a concern over paper as well. The mint has slowly increased its bullion eagle premiums to its authorized dealers. Expect the spread to continue, but at a slow pace. A major paper to physical conversion failure by one of the big boys will cause a massive premium increase. This will eventually take place.

    "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

  • pf70collectorpf70collector Posts: 6,641 ✭✭✭
    How much is the overall precious metals market? In the Trillions? I have no idea. If the Fed can print $14 Trillion in the past two years to shore up the banks, could it do the same for the PM markets to back up the paper? Are we seeing a deleveraging right now from the banks out of PMs? Obvious not enough physical around, but could the silver and gold paper be backed up by fiat if there is a physical conversion failure?
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  • derrybderryb Posts: 36,792 ✭✭✭✭✭
    the entire gold stock of the world - including the privately held bulk - is estimated at $1.8 trillion. You can bet that this is just a very small fraction of all the paper gold being sold. With the failure of MF Global and the disappearance of large amounts of dollars you can bet the same will eventually happen in the paper market. After an intial panic in all metals markets (paper and physical) this will cause the price of physical to skyrocket. Those that think this will not or cannot happen need to keep in mind that the failure of MF Global and Lehman Brothers "could never happen."

    "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

  • fiveNdimefiveNdime Posts: 1,088 ✭✭
    i called my local B&M this AM and they had a line before they opened and are now out of 'junk' 90% and bullion (ASE / maples), didn't ask about gold.

    they're supposed to get another shipment in friday evening. image

    they had not adjusted their premiums (yet)



    << <i>He says Yeah but TV says gold
    dropping to... >>


    what a nice guy! image

    just another reason to not listen to the idiot box. image
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  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    << Guy calls yesterday and offers me $3,000 for 2 Gold Eagles,
    I said that way under melt.. He says Yeah but TV says gold
    dropping to 1450 tomorrow so thought Id give you a chance
    to bail out of a couple ounces...
    Aaahhh Thanks, but No Thanks..Hahahahaaa..... click !!! >>



    >>>Why coin dealers drink......<<<

    But this was a bullion deal, not a coin deal image

    I'll save you the time in responding and say what you're thinking... "smart arse'" lol
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • vibr0nicvibr0nic Posts: 614 ✭✭✭
    I've been following the Silver Eagle premiums on Provident over the last several months. From what I've seen, their premium over spot is consistently between 10.5% to 11%, whether it's up or down.
    I like large size currency and silver dollars.
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