I passed by a dealers shop I hadn't been in today. I wasn't surprised to find he wanted $20 each for the eagles, I was surprised when he told me he has to pay $4 over spot to get them. So he's paying $17.50-$18 to get the eagles he's got.
What I wound up buying was a single prospector for $16.
He is doing good -I was looking at NW Territorial this AM - they are quoting nearly $4 over spot on 60 ounces or more of ASE's ($17.30 vs $13.50 spot) and they freely admit they have none so you have to wait till the Mint supplies more. From NWT site:
US Mint Production Delays The US Mint has again announced production delays and rationing for silver American Eagles. We will continue to ship silver Eagles from our stock when they arrive from the US Mint, but in order to expedite delivery will need to ship dates of our choice (unless 2008 coins were specifically requested). In some cases, orders placed after August 1 may experience significant delays, but you can be confident that all trades locked in will be shipped expeditiously as we receive supply of product from the US Mint. For those of you who wish to ensure a place in the queue, we will continue to lock in trades at our low premiums over spot.
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw. Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony Passive Income blog
APMEX has 2008's at 4.29 over spot for 500 or more, 4.99 over spot for 1-19...only a bit over 15K available--probably will be sold out by this (Tues) evening...the premiums just seem to keep going up...
I continue to be amazed by the spreads. If the spreads are that high I might just consider unloading some of my Silver Eagles rather than waiting for silver to go back up.
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available.
I continue to be amazed by the spreads. If the spreads are that high I might just consider unloading some of my Silver Eagles rather than waiting for silver to go back up.
Yeah--that is a consideration right now--if you did that what would you roll the funds into? Junk silver? Maples? The spreads are high on just about everything now...gotta remember that silver will probably continue higher from here...even if the premium drops back to $1 at $20 silver, if you have not reinvested you are actually coming out behind...but if you could increase your ounces by trading...hmmmm...any other thoughts on this? Time may be limited for this (potentially lucrative) strategy....
I am absolutely new to spread trading, but doesn't silver have best potential ATM and junk the least premiums? What if silver jumps to $20 again and the premiums do not decrease but keep increasing? Is this a possibility and if so what would be the cause of such an effect?
The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b] He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
I dont think we will see the spreads go away for a long time as I think the dealers are getting used to these high markups. Before there was no a whole lot of margin in bullion but now they can kinda set there own now.
APMEX has 2008's at 4.29 over spot for 500 or more, 4.99 over spot for 1-19...only a bit over 15K available--probably will be sold out by this (Tues) evening...the premiums just seem to keep going up...
Tues afternoon--they have a little over 5000 left...man, these things are just flying out of dealer inventory...
Found some eagles at a dealers shop
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Posted - 09/22/2008 : 16:57:29
