local premiums here are getting stupid

[chad]

stopped buying au at these prices, so i didn't even look.

one guy wants FIVE DOLLARS over spot for generic, the other guy about 20 miles away wants $3.50 over spot. i didn't even ask about SAEs.

the scary part is, people must be paying it, otherwise they'd drop the price down.

i may be getting priced out people. :boohoo

[mamboni]

stopped buying au at these prices, so i didn't even look.

one guy wants FIVE DOLLARS over spot for generic, the other guy about 20 miles away wants $3.50 over spot. i didn't even ask about SAEs.

the scary part is, people must be paying it, otherwise they'd drop the price down.

i may be getting priced out people. :boohoo


Five dollars over spot silver? Wow!!! What are SAEs going for I wonder?

[chad]

stopped buying au at these prices, so i didn't even look.

one guy wants FIVE DOLLARS over spot for generic, the other guy about 20 miles away wants $3.50 over spot. i didn't even ask about SAEs.

the scary part is, people must be paying it, otherwise they'd drop the price down.

i may be getting priced out people. :boohoo


Five dollars over spot silver? Wow!!! What are SAEs going for I wonder?


i think part of the problem is my location, almost no competition for these 2 stores within 120 miles or so. i know people are paying it too, because they had almost no inventory of generic.

[1970 silver art]

My local dealer might, at the most, charge me $2. A lot of the time, my local dealer will charge me between $1 to $1.50 over spot for silver art bars.

The only time that my local dealer charged $5-$6 over spot was 2 years ago in 2008 when spot was $9 and the local dealer could not go any lower than $15 for 1-oz generic because he would lose money if he did try to go lower. Back then in 2008, most people locally were charging $5-$6 over spot when spot silver was $9/oz in 2008.

[Plastic]

My dealer sells to me at 25 cents over for generics. :P

It all started 3 years ago when I purchased 400.00 worth of silver. Got out to my truck to do a little pre driving metals fondling and discovered 400.00 in my pocket. Went back into the store and was asked if I wanted to buy more. I said no, I would however like to pay for what I had already taken... Instant friendship and awesome deals ever since.

I was informed yesterday that my dealers cost for buying SAE's are now 4.25 over spot. That is HIS cost not his mark-up, things are getting crazy.

[1970 silver art]

stopped buying au at these prices, so i didn't even look.

one guy wants FIVE DOLLARS over spot for generic, the other guy about 20 miles away wants $3.50 over spot. i didn't even ask about SAEs.

the scary part is, people must be paying it, otherwise they'd drop the price down.

i may be getting priced out people. :boohoo


Five dollars over spot silver? Wow!!! What are SAEs going for I wonder?


I will probably guess close to $30 for a common year SAE. SAE's are usually $1-$2 higher than the premium for 1-oz generic silver in my local area when I last checked but that has been a while. That might have changed since the dealer's cost of buying SAE's is going up.

[PatColo]

I don't know if Tulving is still the low price leader but,

http://tulving.com/goldbull.html

re silver,
2010 SAEs in sealed box, +2.29 - he notes, "The U.S. Mint Has Substantially Increased Their Price As Of 9/30/2010"
most generic 1oz's +50-75 cents
90% $1000 face dime/quarter bags @ spot
90% $1000 face half dollars +19 cents

[EE_]

generic silver, spot plus $.90
Silver Eagles, spot plus $2.50
You should pay no more, less is better

[PatColo]

generic silver, spot plus $.90
Silver Eagles, spot plus $2.50
You should pay no more, less is better


[size=10pt]It should be noted re low-premium-leader Tulving: not for the small $-transaction. Entry level minimum purchase is $1000 face 40% junk (295 oz/troy/pure), $6785 (@ $23/silver).

Goes up from there, 500 generic round minimum, $1000 face 90% (715 oz/troy/pure = $16,445), 20 oz gold, etc.

http://tulving.com/goldbull.html

Separately, this was discussed on GIM1 now & then, but is there an easy way to track "average ebay premiums"? Not offer prices, but closing sale prices? May be necessary to have 2 categories, IE sales < & > $500, or $1000 whatever, assuming small $ sales would be more numerous but have higher premiums, vs high $ sales which would be fewer # of transactions, but moving greater total $$... just guessing, I'm not an ebay-er.

An "average ebay silver/gold premiums" index would be great to plot on a chart over time... pulse of the market..

[Neuro]

I don't know if Tulving is still the low price leader but,

http://tulving.com/goldbull.html

re silver,
2010 SAEs in sealed box, +2.29 - he notes, "The U.S. Mint Has Substantially Increased Their Price As Of 9/30/2010"
most generic 1oz's +50-75 cents
90% $1000 face dime/quarter bags @ spot
90% $1000 face half dollars +19 cents


I saw they had some Pd bars that they were selling for spot. Minimum requirement was 20 ozt though. :(

I don't think Tulving ships international either. :(

Allmost all Pt was sold out also...

[Ponce]

Here there is none to sell......

Plastic? almost the same story that I already posted, bought 2,000 oz at one time and one of the tubes instead of silver had 20 gold coins......took them back and was given an extra 200 oz of silver rounds.

[Plastic]

Here there is none to sell......

Plastic? almost the same story that I already posted, bought 2,000 oz at one time and one of the tubes instead of silver had 20 gold coins......took them back and was given an extra 200 oz of silver rounds.



Right on Ponce, honesty goes a long way, both morally and bottom line imo.

[Twisted Titan]

Here there is none to sell......

Plastic? almost the same story that I already posted, bought 2,000 oz at one time and one of the tubes instead of silver had 20 gold coins......took them back and was given an extra 200 oz of silver rounds.



Right on Ponce, honesty goes a long way, both morally and bottom line imo.



The frienships and alliances forged before gold and silver go hog wild will be one of the most important attributes outside of the asset itself and in some cases MORE important.

What good is your tangible if you canot capture the historic gains?

[Ponce]

Thanks Titan, and that's something that I was thinking about yesterday.....there is an "extra" value in silver and gold that is not the value given to the metal itself.......what do I mean by that? no idea.....is something that I am working on..........I feel that silver and gold have been around for millions of years (sinse the andelluvian times) and the reason is not the scarcely of it.

[Half Sense]

Silver art bar closing prices are mostly between $25 and $30, plus 2 or 3 bucks shipping.

[Uncle Salty]

Get used to it.

The paper market price is a joke. The physical market is reality.

Silver dealers have rent and utilities and salaries as well. They make a market that is instantaneous for buying and selling. Cash, no records. That is worth something.

[Rebel Yarr]

A lot of the smaller deals are .....

small minded. I watch them raise their premiums instead of ordering more inventory. They figure they will jack the premiums to heights and sell it slower - but make the same profit.

[1970 silver art]

Silver art bar closing prices are mostly between $25 and $30, plus 2 or 3 bucks shipping.


So far my local premiums for silver art bars found locally are between $1 to $1.50 over spot. On ebay, I have seen the closing prices that you mentioned on common minted silver art bars.

[Ponce]

Remember Silver Art that when you come for my toilet paper it will cost you one oz .999 not matter how "pretty" they are........save your money, because I will have your money .......hahahahahah ;D