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Why Are Premiums Over Spot Getting So High!?

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New Member
United States
36 Posts
 Posted 07/06/2020  10:03 am  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply
I really enjoy rooting around at estate sales but they are on hold for the meanwhile. Very much like estate auctions, their job is to CLEAR stuff out so they are probably only a small indication of what the general premium might be.
Pillar of the Community
Canada
2001 Posts
 Posted 07/06/2020  10:21 am  Show Profile   Bookmark this reply Add Northerncoins to your friends list Get a Link to this Reply

Quote:
their job is to CLEAR stuff out so they are probably only a small indication of what the general premium might be.


Ya I agree with that.

Estate auctions are not a good indicator of PM premiums. Grab them if you can afford it, just be careful though... fake gold and silver is everywhere... you might just end up with a load of Chinese fake garbage.
New Member
United States
36 Posts
 Posted 07/06/2020  12:22 pm  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply
It takes 2 things to keep premiums high. Right now demand is high and supply is temporarily restricted. The supply chain of mine to mint to dealer to consumer is disrupted. That will soon be back to normal and premiums will settle down.
Pillar of the Community
United States
3795 Posts
 Posted 07/08/2020  6:36 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply

Quote:
Grab them if you can afford it, just be careful though... fake gold and silver is everywhere... you might just end up with a load of Chinese fake garbage.


That is exactly why I didn't bid. Only try to buy from reputable sources and an estate auction is a good place to get burned if you don't know what you are buying.
New Member
United States
36 Posts
 Posted 08/07/2020  12:29 am  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply
Would a simple ping test be definitive on a Morgan silver dollar?

Here's a strange thing that I came across by accident several months ago. I was getting a hat in the Garment District and I was being lead up the factory stairwell to the third floor. On the second floor was a metal chair and on it was a sheet of maybe 10 Morgan dollars. Took a quick glance and they looked OK but no one would leave real ones just lying around so I figured they were fake.
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