| Author |
 Topic  |
|
|
Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 05/05/2009 : 19:31:12
|
Just checked the Tulving website tonight and saw that their 90% bag SELL price dropped from Spot+$1.89 to Spot+$1.19; BUY price dropped from Spot+$1.40 to Spot+50c. Bullion Direct's Nucleo market maker is not listing any bids right now. APMEX is buying 90% bags around $9350 (Spot-25c); selling at $10450 (Spot+$1.25). Premiums have dropped over a $1 in the past two weeks.
I can remember when silver spot dropped to $9 that there was a premium of Spot+$4.95 to buy 90%. Of course, early last year you could buy 90% bags at spot. We may be going back to those levels. Be careful in your 90% stacking purchases right now!!
|
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
|
|
|
Corsair
Penny Hoarding Member
811 Posts |
Posted - 05/05/2009 : 20:08:11
|
| I have been disappointed that silver has gone up for the past six days! I want it to go back down. I still need to pick some more up. |
So long, Realcent 1. Come visit us at Realcent.org! |
 |
|
|
oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 05/05/2009 : 20:20:31
|
| Paid 10x face today. Thats the max I will pay when I can get bars 99c over spot... |
|
|
|
buyingsilvers
Penny Collector Member
441 Posts |
 Posted - 05/05/2009 : 21:12:48
|
Thanks for the heads up.
Premium might be going down, but silver skyrocketed over the past week. Gold price has been more or less a yawner, but silver has taken off. Pay less in premium, but more in spot price. In other words, you may end up paying the same price.
IIRC, for APMEX, the price is good only for the $500 & $1000 ($5230/ $10460) bags. You have to pay a bigger premium for the smaller bags. For tulving, isn't there a $10,000 order minimum? You'd only be able to get these premiums if you're ordering in bulk.
current price is $13.40 |
Edited by - buyingsilvers on 05/05/2009 21:16:01 |
|
|
|
Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 05/06/2009 : 04:55:48
|
| fyi melt is 9.7X when spot is $13.41. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
|
|
|
|
Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 05/06/2009 : 09:01:37
|
The BD market maker is back this morning, Bid $10500 (Spot+$1.07) for a 90% bag. I have seen that Tulving may lower the Buy/Sell because they have too much inventory on hand. Both Tulving and BD are selling around Spot+$1, about the same markup now as generic rounds. It may be the upward trend in silver is being used by these market makers to reduce their excess inventory rather than an excess of retail selling.
$1000 face bag prices always set the market price, with partial bags always selling at a premium to its bag price. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
|
|
|
|
PennehChaos.
Penny Collector Member
USA
269 Posts |
Posted - 05/06/2009 : 10:26:07
|
quote:
Originally posted by buyingsilvers
Pay less in premium, but more in spot price. In other words, you may end up paying the same price.
Absolutely... "spot" is just another horse to bet on; it can change by 10% a day or more. If the value of real silver worked that way then there are a number of us here wouldn't be messing with it  |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
|
|
|
buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/06/2009 : 15:09:30
|
quote:
Originally posted by Country
The BD market maker is back this morning, Bid $10500 (Spot+$1.07) for a 90% bag. I have seen that Tulving may lower the Buy/Sell because they have too much inventory on hand. Both Tulving and BD are selling around Spot+$1, about the same markup now as generic rounds. It may be the upward trend in silver is being used by these market makers to reduce their excess inventory rather than an excess of retail selling.
$1000 face bag prices always set the market price, with partial bags always selling at a premium to its bag price.
You may be right as the price of silver continues to increase and the spot POS makes 90% junk almost to 10x face melt value. |
Edited by - buyingsilvers on 05/06/2009 15:11:35 |
|
|
|
buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/09/2009 : 19:44:14
|
[quote=Corinthian bronze]
I just heard from a very trusted source that an investment group has dumped a couple thousand bags($1000 face) of 90% silver coin on to the open market. 90% had been enjoying a nice premium recently ($1-2 over spot per oz) but in light of recent offering this premium has disappeared. As early as Thursday the major buyers had been offering buy prices at 10X face. Now they are selling at 9.7x face even in light of a recent silver run up (up 15% in two weeks). This seemed like useful information for GIM faithful. I figure that would make this a pretty ripe time to back up the truck and help absorb this excess. Any thoughts on this? [/quote]
Seen this posted elsewhere FWIW. It explains the evaporating premium. A couple thousand bags is A LOT of junk silver. Seems like over the coming weeks may be a good time to buy silver, perhaps at a discount to spot as this supply is absorbed into the market. Maybe even as cheap as 9x face? |
Edited by - buyingsilvers on 05/09/2009 19:45:58 |
|
|
|
Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 05/09/2009 : 21:00:30
|
It is estimated that there are $500,000,000 face value of silver coins left after the great melt of the '80s, about 25% of the silver coins ever produced by the US mint. A couple thousand bags ($2,000,000 face) of junk silver put on the market would be substantial in the short term. In the '80s, the mountain of silver of all forms dumped on the market took the silver bag BUY prices down as much as 50% of spot.
While it may be effecting dealers' BUY prices now, IMHO it should be absorbed by these market makers quickly. I don't know if we will be able to buy junk below spot, but I do know that APMEX and Tulving are now buying junk bags slightly below spot. The spread between the BUY price and the SELL price seems to be widening some. However, the market maker at BD is bidding for bags at 5% over spot. The junk silver market seems to be in some sort of disarray right now. My suggestion as before is unless you've got a good deal, I would suggest caution on your 90% silver stack purchases. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
|
|
|
|
Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 05/09/2009 : 21:27:58
|
| I remember when 90% sold for less then spot. |
Trolling is an art. |
|
|
| |
Topic |
|
90% Silver Premiums Drop Further
Forum Locked
