Silver Eagles

[marine70]

On Thursday of last week I went to my LCS he had one roll of eagles at $30 a piece. I bought 5 which I thought the premium was high, however I went back today to pick up a couple up for a friend. He told me he was out of all silver and that one of his suppliers was selling the eagles at $33. I guess my question is has anyone else experienced this?, and is this going to be the norm.

[inflationhawk]

This is the norm right now, but I think the supply shock will be corrected and ultimately over correct in time, resulting in much lower premiums. Regardless, of where the spot price is, I would predict premiums will be lower by the end of the summer (less than $3). Just a guess on my part for what it's worth. Of course if silver rebounds to $29 an ounce even with a lower premium, you'll wish you would have bought at 30. I'm taking the chance and waiting to add to my silver stack for now. I did buy more gold on the dip though because premiums did not change initially.

[68Camaro]

The point is not the premium, but the purchase price. Will we be able to buy ASEs in bulk, reliably, for less than $30? That's the question. So the price for physical ASEs has dipped slightly - from $32-34 down to $29-30 (if you can get them) - down maybe 10%. Versus a 35% drop in spot from ~34 to ~$24. That simply reflects the lag time between converting large bars into coins in the supply line, and getting the intermediate steps geared up to produce at the new higher rate of demand. That's the reality of any market under these types of pressures. There is no shortage (for the moment) of large Comex bar - the shortages are within the intermediate steps of the supply line.

[silverflake]

My local LCS is selling ASE's and silver Maple Leafs for $32. Yes, it's a high premium (I bought 3) but he has PLENTY of them. He also had plenty of sunshine mint 1 oz. bars. So, it's available in southwestern Virginia. Premiums are high, but I am still willing to pay it.

[jmaii]

If dealers in my area have silver eagles, they are charging $32-33 each. As I want to buy one eagle a month or so, online buying is out of the question unless I give up and buy in bulk. Best luck I've had is going to "Cash for Gold" places and asking to buy what they bought (so they don't have to resell it); got a $28 silver eagle from a jewelry store that way.

[Market Harmony]

Realcent is a great place to get Eagles. If you do not see any for sale in the BST section, then you can post your offer to buy them at a price that you want to pay in the "Wanted To Buy" section...

If you go that route, I suggest that you put "WTB" before your item so that you do not get a bunch of people looking to buy from you at the price you are trying to buy from others

[marine70]

Thanks for all of the responses as always the fine people here are willing to share their expertise. Thats what makes this site so interesting thanks gain.