Is the premium over spot price for American Eagles Silver coins increasing or decresaing?
kingofcoin
Posts: 11 ✭
Is the premium over spot price for American Eagles Silver coins increasing or decresaing?
This is a public poll: others will see what you voted for.
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Comments
As far as I know the premium that dealers pay from the mint is relatively stable relative to the price of silver however, it always seems like the premiums are too high/increasing in the retail marketplace where I buy.
The mint charges its distributors $2 per coin over spot so everyone who pays it obviously wants to recover it when they sell/resell. So if spot is say $16, then an AP pays $18. So they sell to whomever for $18+. Then whomever sells to its customers for $18++, so that's how the premiums end up being $3 or $4 or even more over spot. If you're willing to buy enough, you could probably get them for the $18+ from the AP. Usually over time the premium tends to persist in the marketplace. If spot jumps $5 from what you paid, there is more wiggle room to cut back on the premium.
Frankly, if I ran a LCS, I wouldn't waste time selling ASEs at 25 cents over cost.
There is a bulk purchase program for certain products and bulk discounts on others.
You need to separate 2018 issues from previous issues. The premium on older coins has been shrinking all year - gold also. And there is almost no premium left on gold proofs.
2018 coins still have a premium because of the impatient people who don't want to wait until 2019 or 2020 to buy them more cheaply.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I didn't vote because there wasn't a "has stayed the same". My two LCS's charge spot + $4 for ASE's for as long as I can remember, so I exclusively buy when there are sales online or I trade 90% for ASE's when I can get a good trade.
premiums on all bullion seem to be getting a little lower over the past 3-4 months. it all has to do with the stagnating PM prices. gold premiums have been hit harder for us but recently went up a little. silver such as ASE's have been flat for awhile and slid back a few months ago.
Decreasing !!!
The premium on ASE for older years is under $2 per coin
All comments reflect the opinion of the author, evn when irrefutably accurate.
cant vote, staying about the same from what I can see. Wasn't one of the choices in the poll.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
I bought a roll of random silver Eagles recently for a dollar over spot from provident. One of my current favorite dealers.
Though I have not purchased a lot of silver lately, I have seen some evidence of slightly reduced premiums...mostly in the form of short sales, which have been more frequent lately. Cheers, RickO
cheaper than cow chips
``https://ebay.us/m/KxolR5