What are premiums on silver in your area and are supplies limited?

[jim4silver]

I figured by now premiums would have come down on one and ten ounce bars. I picked up a few one ounce Engelhard bars and a ten ounce Sunshine Mint bar for 15 dollars per ounce today, and a few "generic" rounds for 14 per ounce--not Christmas bars but rounds that the store owner figures should sell for less than Engelhards, etc., actually found a Canadian Maple in there?? and a few "silver trade unit" rounds that are kind of cool looking. Another local store wanted 16 per ounce for Engelhards and 15.60 for generics. Those prices are kind of high I think.

I wonder if supplies are drying up due to increased buying? Anyone have any thoughts on this.

Jim

 

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[markmopar]

My local shop wants $23.95 for 2009 Silver Eagles and $19.95 for older ones.

 

[Mike_of_Tenn]

Picked-up a 2005 Silver Eagle today from my shop for 18.50..Last week he had some 10oz bars for 156.00. He is redoing the store so he didn't have anything out today.

Mike

 

[snake35]

My local coin shop makes E-bay an extreme bargain! He wants $23.00 for generic rounds.

 

[rsc]

Coin show in Houston yesterday had generic 1 troy oz rounds for $18 ea. HH Gayle

 

[jim4silver]

Some of those prices you guys listed are way too high. Today I picked up some generic one ounce bars (not Christmas bars, but Hauser & Miller bars-I never heard of them but they are nice and look like the one ounce JMs) for $14.25 each, and an A Mark 10 ounce bar for $150.

These premiums are still too high, but I keep thinking back to 2007 when I could get Engelhard and JM bars for 1 buck over spot or less. I think those days are gone forever.

Jim

 

[mrbelvetron]

Just stopped by my two gold/silver shops near work (HEB area, between Ft. Worth and Dallas) and they wanted $15-$16 each for generic Morgans and Peace dollars, so at spot that day they had about $10.50 in bullion value. Call it about a 50% premium, if my math is right, which is not my strong suit. Didn't have any rounds and I didn't ask about bars or anything.

One of the shops was out of Morgans but said that's cause about two days ago he sold about $15,000.00 in Morgans to another area dealer. He has about 150 more but hasn't checked the dates or grades yet. Said he'd give me first crack at them on Wednesday so we'll see what he wants then.

The other shop had about 100 or so sitting out.

Also stopped at a pawn shop on the way home which had one mid-grade, common date Morgan and one American Eagle (2004). They wanted $29.50 each. I just walked away laughing.

 

[mistergee]

i saw some 2009 silver eagles in a decorator box for $22.00

 

[Roadquest]

I think we had a drop in silver price, because gas went up a few cents. With the talk of
gas being aloud to go up to $2.00 per gal. by the government. Saying it's a fair price.
Silver will probably go down to $11.00 in the next few weeks. Gold could be heading for the high
$700.00s

It's not over, by any means. Many people though that with silver and gold going back up to a
"average" fair market value, that the downward sparel was over. The market is in such a position
that even the experts, don't know whats going to happen with precious metal value.

Clayton

 

[jim4silver]

I think we had a drop in silver price, because gas went up a few cents. With the talk of
gas being aloud to go up to $2.00 per gal. by the government. Saying it's a fair price.
Silver will probably go down to $11.00 in the next few weeks. Gold could be heading for the high
$700.00s

It's not over, by any means. Many people though that with silver and gold going back up to a
"average" fair market value, that the downward sparel was over. The market is in such a position
that even the experts, don't know whats going to happen with precious metal value.

Clayton

Perhaps the paper (futures) prices could get that low, but I don't see the premiums in my area getting to where you could buy physical at those prices. From what I have heard and read, small investors are still buying the crap out of physical gold and silver both here and in Europe, and perhaps other areas as well.

When silver and gold tanked last spring the premiums were still very high. Right now Maples are 50-60 over spot and AGEs are 75-80 over spot in my area.

Even the once cheap old European gold coins are getting higher premiums, especially 20 franc coins.

Jim

 

[Roadquest]

but I don't see the premiums in my area getting to where you could buy physical at those prices.

I agree, we will not be able to buy physical at these prices.