| Author |
 Replies: 75 / Views: 9,208 |
|
|
|
Pillar of the Community
United States
4085 Posts |
Silver at spot is around 9.3x face but I see people on ebay asking 14-17x face which makes me think there is some weird stuff going on right now. |
|
Pillar of the Community
United States
2233 Posts |
Could be supply and demand.
|
|
Pillar of the Community
United States
4333 Posts |
The paper price disconnects from the phizz. Thus, higher premiums.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Pillar of the Community
Canada
1051 Posts |
I also sold a good bit of gold in early March (not unlike a couple of others here by the sounds of it). Make no mistake though, gold IS and always will be the gold standard. Right now it's pandemonium on the markets, people are selling everything and everything to meet their obligations. In late 2008 gold fell off a cliff, losing around 30% of it's value. This is when weak hands sold. Shortly thereafter, the big climb got started: from around $750 to around $1900 (twice!) in 2011. So be patient, gold is doing exactly what it's supposed to do, we just haven't hit the central bank helicopter phase yet.
Edited by 1cent
03/16/2020 7:16 pm
|
|
Pillar of the Community
United States
4333 Posts |
It's different now.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Pillar of the Community
Canada
3733 Posts |
silver seller's are jacking their premiums now, there is no supply to meet the demand.
|
|
Pillar of the Community
Canada
3733 Posts |
i am seeing premiums of 7-10$ an ounce..
|
|
Pillar of the Community
United States
7620 Posts |
They are not gonna sell silver for 13$ today that they paid 18$ for last week.
|
|
New Member
United States
44 Posts |
Nobody is selling silver to a dealer in a big down market like it is now, unless they have no money to buy toilet paper. Since nobody is bringing in any silver to sell, dealers are just going to sit on any silver they have and charge higher premiums to get their money back, or close to it.
|
|
Valued Member
United States
245 Posts |
I WILL NEVER pay someone an $8 per coin premium. A $2-$3 premium is bad enough...charging asinine premiums looks like price gouging to me. I priced buying a 500 coin monster box of ASE yesterday. The premiums being charged left me in utter shock. My wife and I had fully anticipated buying a monster box of ASE yesterday but were quickly disappointed when we learned of the ultra high spreads being offered. It would be irresponsible to pay those spreads. |
|
Pillar of the Community
United States
669 Posts |
Quote:I WILL NEVER pay someone an $8 per coin premium. A $2-$3 premium is bad enough...charging asinine premiums looks like price gouging to me. I priced buying a 500 coin monster box of ASE yesterday. The premiums being charged left me in utter shock. My wife and I had fully anticipated buying a monster box of ASE yesterday but were quickly disappointed when we learned of the ultra high spreads being offered. It would be irresponsible to pay those spreads. I was looking at buying a couple rolls of silver eagles with the price falling. Sellers still want the same price as if it was $16-$17/oz. Not gonna pay that kinda premium. I'll just hold onto the cash. |
|
Pillar of the Community
United States
1590 Posts |
Western Sky hit the mark. As a dealer he is spot on...for most dealers. A lot, and I mean a lot of people lost their businesses in 2011 because they refused to sell at the current market rate vis a vie their buy rate of $45+. Those of us that were smart, sold and plowed that money into buying other assets that could be flipped. I had a business parter that has this mind set. He had coins on the shelf that had been there for over 15 years because he refused to take a loss. The last show I did before the virus hit, myself and a couple of other dealers were selling circ morgans and Peace dollars for $18 and had no problem selling. Other dealers who were still selling those same coins for $28 to $40. I kid you not. Right now people are selling to liquidate before the plunge gets worse. They are selling at the highest prices they think they can sell at. Checking sold prices on ebay, there are a LOT of Peace and common MOrgans going for $18ish. This is the norm, and I suspect might even be the high for a while. I had a converstation with one dealer who summed it up entirely: "I will be damned if I sell those for $18. I'll go out of business first". |
|
Pillar of the Community
United States
533 Posts |
Gold is no longer the gold standard oil is. Gold follows oil up and down. Chart out the two doe the last ten years by week and you can see. Silver follows gold. Oil drops, gold drops, then silver drops. But I prefer keeping a roll of silver oil to barrels of oil in my home safe
what I don't understand is a roll of silver eagles is almost what it was when silver was $18.00 and now it is near $12.00 can anyone explain that?
|
|
Pillar of the Community
United States
1913 Posts |
I think it's because the street price is delayed behind the futures market. It should catch up when the distributors buy more.
|
|
Pillar of the Community
United States
4333 Posts |
Quote:
what I don't understand is a roll of silver eagles is almost what it was when silver was $18.00 and now it is near $12.00 can anyone explain that? I bought some beanie babies two weeks ago at $10. The price dropped to $5. Why would I sell for a loss of half? Understand? Edit: Sorry, in other words, there was such a drastic price drop recently, and holders don't want to take a hit...bankruptcy hits. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
03/18/2020 7:44 pm
|
| |
Replies: 75 / Views: 9,208 |
First Page
Previous Page
Posted 03/16/2020 5:58 pm
