I noticed provident metals has lowered the premiums on junk silver. Around the 1st of november I made an order and the premium was about $2 over spot. Now its about $1.50.
90% premiums
- Thread starter skeeterd
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Provident Metals also is selling their "mixed" 100 oz silver bars for .34 over spot. Now that's a bargain. That's the lowest I've ever seen them, I'm tempted but I'm not gonna bite yet. I think there is a more downside in precious metals coming in 2015, (from what I'm reading), then I'll buy.
bradley1719
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SilverHoarder07
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I frequent providentmetals and noticed the same on the rounds and bars that I typically buy. After thinking about it I realized that a few cents off per ozt now compared to a few months ago makes perfect sense. In relation to the spot price, premiums remaining constant with a 50% drop in value over the last 18 months means premiums have been ridiculously high for quite awhile....example:
Spot price: $30 ozt
Generic premium: $1.00
Premium cost: 3.34%
Compared too
Spot price: $16 ozt
Generic premium: $1.00
Premium cost: 6.25%
To remain competitively and attractively priced it only makes sense that premiums come down with the spot price but I think a lot of people (myself included) see a decrease in premium and initially think "what a deal!" When in fact premiums are still much higher than they should be with the current spot price when looking at it from a percentage perspective.
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