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 Replies: 10 / Views: 2,509 |
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Pillar of the Community
United States
5818 Posts |
Now they want $3.29, from $2.79 per ounce.
If it silver drops lower, and they raise premium higher, I got to go somewhere else!
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Valued Member
United States
269 Posts |
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Pillar of the Community
 United States
5818 Posts |
90% 'Junk' silver.
I was hoping with the recent price drop today that I can pick up some for reasonable prices, but they raise the premium instead.
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Pillar of the Community
United States
4333 Posts |
It's fairly common.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
269 Posts |
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Pillar of the Community
United States
1454 Posts |
Mac, The PM pirates are trying to remain afloat, so to speak, while the market tides are forcing them down to Davy Jones' locker at speeds uncomfortably faster than they'd prefer to travel. Give them a chance to catch their breath and they'll raise the white flag soon enough and surrender their booty at a fair price, or we'll keelhaul the lot of them. I watched Pirates of the Caribbean last night  |
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Pillar of the Community
Canada
5417 Posts |
They tend to do that. After all, they have to make money.
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Pillar of the Community
United States
2168 Posts |
Yes, I guess to make up for buying at a higher cost. they still want to make the spread.
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Pillar of the Community
Canada
3049 Posts |
This happened last time there was a big price drop as well.. the margins are pretty slim for selling PM's so they make it up in the premiums..
Dealers doing really big volumes shouldn't have to worry about this as they will make it up with their next 1-2 purchases as long as prices stabilize.. so for the big guys it's more of a security thing and a cash grab...it's also the only way to discourage you from buying where they incur a loss... similar to how one would run a sports book with odds.. the reason the odds change is so that the book can cover the spread of either team winning..
My LCS hasn't increased their premiums yet... I would say find another source or have patience I honestly don't see silver moving too much any time soon...
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Bedrock of the Community
13014 Posts |
Like mentioned this happens every time. Their inventory was purchased at the old price so they want to sell it at that price. Either theyll turn that inventory over and start selling lower or the price will stay here long enough theyll lower it on their own. They always lower prices slower than they raise them hoping for a price bounce back instead. Quote:
The PM pirates are trying to remain afloat, so to speak, while the market tides are forcing them down to Davy Jones' locker at speeds uncomfortably faster than they'd prefer to travel. Colorful and accurate I like it.  |
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Valued Member
United States
456 Posts |
It also has to do with the rate of a price drop. If it's slow and gradual, you're less likely to see a premium hike. When you get a sharp and significant drop, premiums bump up a bit for a while. As bb21 said, it eventually goes back to normal premiums. Having said that, 90% could be had for spot most everywhere when spot was in the mid-$20's. That's obviously not the case now.
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Replies: 10 / Views: 2,509 |
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Posted 04/21/2014 1:11 pm
