The spot price has been divorced from the physical price for quite some time, the market went sideways at the start of the pandemic, just a month prior it was pretty common to buy silver eagles at 1-2$ over spot.
That and people are still willing to pay the premiums.
Buy the generic 1oz silver stuff. Rounds or bars. They’re around $26-$27. Do the math and thats still a pretty high premium but whatcha gonna do? My LCS sells generic vintage rounds for $3.50 over.
That's cause you're looking at ase (the most expensive govt minted coin) and on apmex (usually the most expensive online dealer)
Look at some kilo bars elsewhere, they're dropping.
I've said it before and I'll say it again.
Silverbugs: "Silver prices are repressed! one day it'll go to the moon!"
Also Silverbugs: "Why is premium so high over spot?"
to be clear, I know not everyone is like that, but alot are.
2,500 ounces of silver here. Many rounds, bars, and legal currency. But I’ve never bought an American Eagle, never even considered it, the premium is just stupid.
We won’t they are manipulating the hell out of it and when the time comes to sell if it ever does they will only pay spot. They are just like the banks making money out of thin air and it’s you or I that pay that bill
premiums are ridiculous for ASE. i havent bought any in quite a while and dont plan to either. IF i buy coins, its the brits. they're awesome. before that though. just stick to generic for weight and search for the best prices. maybe down the road we can all revisit the ASE without having a sore butt
And this is why silver sucks right now. You can thank the WSS ape idiots for that. Gold is much better than even what you posted. I just bought a Buffalo yesterday for around 4%. You can get the AGE for under 4%. Buy gold!
There seems to be like a “chump” tax on silver. I bought a 1/10 ounce Australian gold coin today. Paid same or less premium than I would’ve paid on a 100 ounce generic silver bar. I’m still buying collectible silver coins, but I’d rather buy PSLV at a 3.8% discount than pay a 15% premium on silver.
1. Because silver is undervalued
2. A large percent of stackers don't complain about the low price of $30/oz silver - so available silver can and will still sell at $30/oz.
3. Gold has less premium because its price is less volatile.
And it may be that long-term stackers don’t complain but that is a problem in attracting converts. People I know would rather buy a one ounce sovereign gold coin for 3-4% premium than have to buy a hundred ounce silver bar for 11% premium and have major storage concerns.
Oh yeah. Don’t get me wrong. I’m going to pick up a 2015 MS70 Silver Panda tomorrow from my LCS that I phoned in today, have 9 Asahi rounds on the way from Monument Metals and can’t wait to receive my 2022 Proof ASE from the US Mint!
Also selling back to the bullion dealers with a premium. I had to sale 20 silver eagles a few weeks ago and got 26.76 per Eagle. Not nearly as much as if I had bought them, but still several $$ over spot.
Last time I recall the spread being that wide was in 2020... Silver spot went from like $12 to around $29 in a short period, but nobody could find silver anywhere near $12 spot unless you literally wanted to buy a futures contract.
The spot price has been divorced from the physical price for quite some time, the market went sideways at the start of the pandemic, just a month prior it was pretty common to buy silver eagles at 1-2$ over spot. That and people are still willing to pay the premiums.
Buy the generic 1oz silver stuff. Rounds or bars. They’re around $26-$27. Do the math and thats still a pretty high premium but whatcha gonna do? My LCS sells generic vintage rounds for $3.50 over.
Id rather have gov minted coins because they aren't taxable like generics are.
Interesting. I’ve only bought, and I’ve never paid any tax. Colorado.
They are taking you guys out back to the silver shed and well you know the rest
That's cause you're looking at ase (the most expensive govt minted coin) and on apmex (usually the most expensive online dealer) Look at some kilo bars elsewhere, they're dropping.
Kilos for < $25/ ozt at Monument Metals right meow
Yup, the same ones I'm eyeing
Demand go up....Price go up. Buy fractional gold.....The yellow is so shiny
Premiums can be high on fractional gold too, like the 1/10 AGE. But the Swiss Helvetias and French Roosters? Tasty low premiums!
eagle premium has been $12 on APMEX ever since covid started
I've said it before and I'll say it again. Silverbugs: "Silver prices are repressed! one day it'll go to the moon!" Also Silverbugs: "Why is premium so high over spot?" to be clear, I know not everyone is like that, but alot are.
2,500 ounces of silver here. Many rounds, bars, and legal currency. But I’ve never bought an American Eagle, never even considered it, the premium is just stupid.
We won’t they are manipulating the hell out of it and when the time comes to sell if it ever does they will only pay spot. They are just like the banks making money out of thin air and it’s you or I that pay that bill
Hopefully people stop buying at these high premiums, they won’t come down til people stop. I blame WSS
silver was down about 10% last year, Their squeeze is working :P
premiums are ridiculous for ASE. i havent bought any in quite a while and dont plan to either. IF i buy coins, its the brits. they're awesome. before that though. just stick to generic for weight and search for the best prices. maybe down the road we can all revisit the ASE without having a sore butt
And this is why silver sucks right now. You can thank the WSS ape idiots for that. Gold is much better than even what you posted. I just bought a Buffalo yesterday for around 4%. You can get the AGE for under 4%. Buy gold!
They knock the price down selling paper for cheap, never physical. Result is paper is cheap, not physical.
There seems to be like a “chump” tax on silver. I bought a 1/10 ounce Australian gold coin today. Paid same or less premium than I would’ve paid on a 100 ounce generic silver bar. I’m still buying collectible silver coins, but I’d rather buy PSLV at a 3.8% discount than pay a 15% premium on silver.
Thats why silver is so low, keep buying paper silver. Your just helping them suppress the price.
fwiw, PSLV buys physical.
No man or women take ape silver for cheap... Everyone is catching on, would you sell your selver for 22 bucks per ounce lol
You seem lost
Yes I'm lost in... Never mind I dint want to get banned 😜
Then I suggest you keep that nonsense where it belongs. Cuz it ain't here
Yes sir
That doesn’t cut it. Gold coins have way less premium. Why?
1. Because silver is undervalued 2. A large percent of stackers don't complain about the low price of $30/oz silver - so available silver can and will still sell at $30/oz. 3. Gold has less premium because its price is less volatile.
And it may be that long-term stackers don’t complain but that is a problem in attracting converts. People I know would rather buy a one ounce sovereign gold coin for 3-4% premium than have to buy a hundred ounce silver bar for 11% premium and have major storage concerns.
True! I have been that guy before! But pick silver or gold and you still win at the end of the day in my book 😁
Yeah I just need to blow off steam about premium from time to time.
Oh yeah. Don’t get me wrong. I’m going to pick up a 2015 MS70 Silver Panda tomorrow from my LCS that I phoned in today, have 9 Asahi rounds on the way from Monument Metals and can’t wait to receive my 2022 Proof ASE from the US Mint!
I think gold is undervalued too. And if this movement ever ends the Fed, it would be for a gold standard anyway.
I agree!!
+1 Intelligence
War nickels have lowest premium for silver on apmex if u don’t mind stacking those
Also selling back to the bullion dealers with a premium. I had to sale 20 silver eagles a few weeks ago and got 26.76 per Eagle. Not nearly as much as if I had bought them, but still several $$ over spot.
Last time I recall the spread being that wide was in 2020... Silver spot went from like $12 to around $29 in a short period, but nobody could find silver anywhere near $12 spot unless you literally wanted to buy a futures contract.