Premiums

[johnbrickner]

Late this afternoon (5/20) I got a call from Eastern Numis. The offer was rolls of 2013 ASEs for $595, shipped (from FL so, no tax). $29.75 each. Now I understand it's a telemarketer in PMs on the other end, and they are in stock now. Bells and whistles are includes shipping, no tax but at $29.75 at 4:00 pm that's still about a 30% premium. Even if they were BU would the premium warrant?

If so, and I'm just unaware is it a good enough deal that anyone here would want me to call the guy back to go in on the deal?

Call me nuts (really, it's ok if you do I wont take it personal) but I consider 15% to high. Was it that long ago when Eastern Numis and others were selling these to me at spot as a promo (why I'm on their call list)?

I guess the one thing you can count on is things change.

And the rest of the story is the guys calls back just now (5/21 AM). I inform him the ASE's can be had elsewhere for less. The comeback offer is 100 Toz bar for $2520 or about 12% over spot. Now I find there are several out there who sell for less but with delays. I simply don't need silver bad enough to pay 12% over spot regardless if I want it now or later.

Bottom line, still in protest still not buying retail. Prices will have to tank to Doc's $18 or there about for me to start getting excited about buying again with these premiums.

[blackrabbit]

Too high a price.

http://www.goldmart.com/bullion-1/silver-bullion/american-silver-eagles.html Even with shipping it is much cheaper.

[angel2004]

Lets put it this way if someone is calling for you to buy, they have stock and are trying to get it out. My local dealer is charging 7 on eagles. No tax either so about the same. They charge 15% now on junk dimes and quarters. This is way higher than the 3% they had been charging until silver crashed. And no shipping, any amount and no one else involved (delivery people or bank) I like to buy local to have in hand and no one else involved. At times, I have bought from the US mint over the phone but not that much.

[JerrySpringer]

And the rest of the story is the guys calls back just now. I inform him the ASE's can be had elsewhere for less. The comeback offer is 100 Toz bar for $2520 or about 12% over spot. Now I find there are several out there who sell for less but with delays. I simply don't need silver bad enough to pay 12% over spot regardless if I want it now or later.

You can also take some less risk and buy 98 of these individual ounces with that $2520:

http://www.silvertowne.com/p-11650-silv ... r-bar.aspx


Or you can just buy one ounce or more. Makes me wonder if these Silvertowne bars are made in China or something .

Selling a 100 oz. bar is riskier than selling individual 1 oz. bars in the long run. Who will be the buyer of a 100 oz. bar and allow you to cover your premium overhead?

[Engineer]

I always ask their buy price as well as their sell price. If they have a tight spread, it's likely a good enough deal to explore.

[Lemon Thrower]

Franklin Sanders, a long time dealer, says all premiums will go to zero.

i think in some cases it may take longer than in others, but you'll come out ahead if you avoid paying high premia.

post what you think is reasonable here on RC and you may find a taker.