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 Replies: 10 / Views: 1,045 |
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Valued Member
United States
168 Posts |
I was talking with my dealer the other day and he knows I always buy ASE's from him...he typically gives me a pretty good deal, but this time I asked about the 09 unc. ASE...he says that he was selling them for $315 a roll at a show, but by lunch time they were selling for $500 bucks a roll. Why? silver spot is only 13 bucks and even though he offered me a discount per eagle I still balked at the price. He's offered the ASE at 19 bucks each. That was last year's high price at summer time when silver was worth more. Now the spot price has gone down, but the coin prices have not--weird IMO? |
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Valued Member
United States
429 Posts |
Supply and demand on the coin show part is my opinion, the other, how much did they pay for them? I know my local show is selling them for $21 so to save a couple of bucks would be worth it for me. I also wonder if there is a large amount of people thinking we are going to have the same issues as last year with an error reverse or lower amounts selling out.
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Pillar of the Community
United States
3098 Posts |
Yup, it's weird how when silver+gold were low in Winter last year, the premiums were outrageous. Now that the commodities markets have regained a bit, the premiums have come down. But seriously, $19/ coin? I would be happy to sell you all of mine at that price! If you still want silver, go to APMEX. I like them. They used to have cheap generic silver at 39c over spot per ounce! |
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Valued Member
United States
206 Posts |
wd1040- I agree with you at APMEX sells silver closer to spot than most places but last time I checked their shipping hurts the purchase. Do they give you a break on shipping once you buy a certain amount of bullion? When I made a purchase from there I bought some paper currency and the price + shipping was still cheap for the bill I bought... But if they're getting 10-13 bucks for shipping that's going to bump up the real price of that billion, no? |
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Valued Member
 United States
168 Posts |
shipping is one of those things I hate to pay unless it's reasonable...even then I would rather get it at my local shop
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Valued Member
United States
88 Posts |
It seems that there is a huge gap right now between the price of physical silver and gold and the spot price. Many people are reporting this trend.
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Pillar of the Community
United States
1882 Posts |
Although an ASE is made of silver, it is not strictly a bullion item. It is a coin, and has demand of its own as such. Silver can be purchased all day long for just a few cents over spot on the wholesale market. |
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Pillar of the Community
United States
790 Posts |
Along these lines, just this morning I noticed that when you go to ebay, then select coins from the main page, Bullion is the top listing, followed by US coins. Is bullion more popular? Is ebay creating an artificial demand? Is ebay responding to a demand? Copper as bullion? An 8 oz bar is now at $10 + $3.75 shipping!! |
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Pillar of the Community
United States
3294 Posts |
Got to chuckle over that one. That would be like 20x spot if they managed to sell at that price.
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Valued Member
United States
168 Posts |
I understand about the coin aspect of an ASE having value that people are actually creating its value based on the assumption of high demand, but 09 isn't in high enough demand "yet" to quantify such excessive value over spot? once again my opinion, but how can a coin that was just created have a value of 6-10 bucks over spot when it's not technically in high demand...me thinks maybe specualtion from certain people creates inflated value or shall we say the appearance of value |
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Pillar of the Community
United States
1882 Posts |
Quote:
but 09 isn't in high enough demand "yet" to quantify such excessive value over spot? once again my opinion, but how can a coin that was just created have a value of 6-10 bucks over spot when it's not technically in high demand... They are never sold at spot, even to the small group of dealers that first purchased them. They cost money to produce...and the mint certainly makes some money on them. Those dealers then mark them up a bit, and pass them along. The dealer at the show probably paid in the $15 range. A $4 profit is not a home run by any stretch, and if they are selling for $19, there technically is demand for them. My 50 cents on the matter. (inflation) :) |
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Replies: 10 / Views: 1,045 |
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Posted 02/07/2009 10:11 pm
