$ over spot
 

Re: $ over spot
 

bulliondirect has prospectors for $1.43 over spot.

Re: $ over spot
 

Its not price gouging, its supply and demand. More people want physical silver than the amount available at spot prices. This means dealers must either sell their inventory at a higher premium; or they can sell for spot, earn a smaller profit, and run out of inventory.

If they sell at a higher premium, they are price gouging. If they sell at spot, they run out of inventory, then they are hiding their silver and waiting for prices to rise. Damned if you do....

Re: $ over spot
 

Re: $ over spot
 

Welcome to GIM!
You are obviously new here! :D
Sit tight and read a lot.

Re: $ over spot
 

Where's MY anime Apple Vixen?

Re: $ over spot
 

My opinion is that "they" dropped spot lower than sellers were willing to sell for so the premiums filled the gap. I doubt premiums will shrink when prices rise again. Bullish imo.

When spot is $13.00 and I can sell something for near $20 on fleabay, is the price of silver really $13??? Nay nay I say. :D

Nice avatar.

Re: $ over spot
 

Re: $ over spot
 

PRice gouging is a fictitious idea. If it cost too much for your tastes then don't buy it. If it suits you buy it. Just because something cost more then you think you should have to pay does not equate to price gouging. Should I claim that Levis are price gouging Americans with their $40 jeans when you can buy Rough Riders for $15.00.

Re: $ over spot
 

What teedub31 said. "Price gouging" is a distraction used by officials who want to pass a law to steal a merchant's stock.

You mentioned "a year ago", that was when POS was $14.50, so you bought for $15. Now the POP (price of paper) has gone to $12.50 but you don't want paper you want silver, and POS, price of silver, is still $15. That is not price gouging, that is the free market distributing scarce goods by open auction. If you can do better in another market, you are free to buy there instead. But as long as you insist on actual silver, you are going to pay the prevailing price for actual silver.

Re: $ over spot
 

Unfortunately, yes I have. I got the "Happy Birthday" and "Merry Xmas" type 1 oz rounds. Less than pleased and never bought it again.

Re: $ over spot
 

Re: $ over spot
 

If you're selling an ASE, Maple, Libertad or a Merry Christmas silver ounce round... You will 99% of the time be left with the "Merry Christmas" silver ounce round last.

It's simple. If this is an investment... You want the stuff that is easier to liquidate when that time comes.

Re: $ over spot
 

The last major "time" that came was in early 1980. All that mattered was melt value, "pretty" had nothing to do with the settlement check. I speak from personal experience. That is not to say that "pretty" doesn't matter for the time being. :wink:

Re: $ over spot
 

Way back in 1979 - 1980 - the PREMIUMS (price paid OVER spot) went crazy as the market went CRAZIER.

WE are fast running out of physical anything while the paper everything makes the price. Buy LOW sell higher - SOON and for the next many years.

Don't be surprised to see "The Great Greater Greatest Depression," starting sooner than I wish.

We are worst off than when FDR took office 3-1-1933 - truly truly!

Re: $ over spot
 

Always go with what runs out first - but buy before it runs out.

http://www.apmex.com/APMEXTop40/Default.aspx

check here for what runs out FIRST!

Re: $ over spot
 

I find all sorts of generic and downright ugly silver in my dealer's bin. The stuff that isn't completely horrid (e.g. the flat sheet that looks like a $100 bill) and meets the minimum requirement of stamped purity and weight is fair pickings to me. I mean, I will take the SAE and such but I NEED the crappy stuff. You see, the fact that I bought it from my dealer means he WILL buy it. He bought it from somebody in order for it to be in the bin. This means when I hit a point that I need to sell he WILL BUY IT from me. He can only buy what I walk in and offer to sell. He can't cherry pick my stash unless I bring it in. So, having the ugly crap in my stash means I have something that is easy to let go of FIRST in the event I gotta raise some dough. All silver has its place.

Re: $ over spot
 

I have a theory to what's been happening. Small investor demand for 1oz-10oz silver is at record levels, the quantity of SAE sold by the USmint indicates that. Well there are only a handful of minters out there that produce 1oz-10oz silver rounds and bars. I can only name a handful. It takes machinery and equipment to convert 1000oz silver into smaller stuff and the people who can do it are running at maximum production. Order new machines and equipment takes time and is risky, since if small investor demand dries up, they'll be left with idle machinery.

My theory is that all the minters are running at full speed but can't keep up with demadn for 1oz-10oz silver. So dealers are outbidding one another to get their hands on the brand new stuff rolling off of the machines. That's why the premium is higher, those who refuse to pay the premium are told that they'll have to wait, and they'll wait forever as long as there is some dealer who is willing to pay $.01 more to get the newly minted bullion.

There's a bottleneck in production. That could explain how there's no shortage of physical silver, but no one can buy small weight silver bullion near spot prices. Those who refuse to pay the higher premium will have to wait until a time demand drops to the point where the minters can keep up.

Like someone said, the price is what someone else is willing to pay for it. If you're not willing to pony up the "premium" then you can wait until those of us who will are done buying.

Re: $ over spot
 

Very smart move to have a "liquidation horde" stuff you can let go for emergency or chest thumping purposes.


T

Re: $ over spot
 

This makes sense to us. Silver is Silver no matter what!

:bull-buddy-icon: