Silver $4-$5 Over Spot.... - Coin Community Forum

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Author	Replies: 6 / Views: 2,208
CollegeKevin New Member United States 15 Posts	Posted 09/25/2014 4:27 pm So with silver prices being down, what are you guys buying silver at? In the $17 range it seems tempting but the coin shops around here want between 4-5$ over spot which brings me right back to $22. And I dont see silver going back up to that price any time in the near future.... Is this just way over priced silver? Report this Post to the Staff

tchronis24 New Member United States 39 Posts	Posted 09/25/2014 4:45 pm Yes Definetely. Why not just go on some of the bullion coin stores like silver.com. You should be able to pick up silver about 1 dollar over spot Report this Post to the Staff
LeoS Valued Member United States 174 Posts	Posted 09/25/2014 4:58 pm think about it: The shops that have the silver, unless they bought it 6 years ago (highly unlikely), paid $19-20 per ounce for it. Selling at a loss isn't a good business model. If this is a bump, premiums will stay up. If not, eventually premiums fall. Look at JM/MCM etc and you can get real close to spot for bullion, although ASEs are still around 440/roll (credit card). Report this Post to the Staff
D0ubl3Eagle Pillar of the Community United States 5854 Posts	Posted 09/26/2014 7:02 pm Whether or not it is overpriced, would depend on what form of silver it is. It would be cheap if it was a chinese panda, not totally unreasonable though on the high end for a silver eagle, and high for generic bars/rounds. It is not unusual for premiums on bullion to go up whenever there is a quick drop in bullion. I remember a week when bullion dropped like 15-20% in a week. Silver eagles at the beginning of the week were going for a reasonable $2-3 over to $8-10 by the end basically negating the drop in silver and remained that way for many weeks after. With time, the premiums will return to more normal levels. Report this Post to the Staff
CollegeKevin New Member United States 15 Posts	Posted 09/26/2014 9:28 pm Yea that makes sense. I only want to stick to AEs for bullion maybe some scrap silver. Not a fan of rounds. Report this Post to the Staff
fistfulladirt Pillar of the Community United States 4333 Posts	Posted 09/27/2014 6:07 pm Problem with big mail order shops is, unless you are buying in quantity, premium plus shipping and handling will put you right back up to $4-$5 over spot on ASE's. My shop has always sold with a $5 premium on ASE's, for as long as I can remember, regardless of spot. They normally don't sit on any bullion, they move it as quickly as the buy it. When I listen to LED ZEPPELIN...so do my neighbors... Roll hunting since '77 Dirt fishing since '72 Report this Post to the Staff
johnstac Valued Member United States 327 Posts	Posted 09/27/2014 6:22 pm Just fyi there is a big bullion company selling silver eagles right now on ebay, 10 for $206.99. I bought in just because I can use my CC and get 2% back. Edit: I did check the rules and I don't think I'm breaking any by posting this. I wondered about making a new post for those interested but here is a link to the deal that is happening right now. They don't last long so check it out. APMEX has been doing this sale about once a week lately to get rid of excess inventory. But yes, here are your ASE for just $20.69. This is about $3 over spot. Killer deal. Edited by johnstac 09/27/2014 7:17 pm Report this Post to the Staff
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