Current Premiums. Silver Specifically

Any idea when or even if the premiums will come back down to earth?
I’ve only been watching the spot price for the last several days as I’m just getting back into stockpiling silver. I dabbled a little bit back in 2011 and 2012 but sold off everything over the following year or two.
Now that I am in a position again to start putting some of my savings into silver, I’ve been paying attention to pricing and the premiums seem a little outrageous to me. For generic 1 ounce rounds premiums are anywhere from 5 to 8 dollars. I am specifically looking into the American Reserve rounds, I think that’s a really nice design, but I just can’t stomach paying almost 9 dollars over a spot per round.
I’m not sure if those specific rounds would be considered generic, but they’re definitely not sovereign.
Will we ever see lower premiums again?

 

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Here you go, this is a little better:
https://www.apmex.com/product/156/generic-silver-per-ounce
https://www.apmex.com/product/23/1-oz-silver-round-secondary-market
I agree though that it's a high premium still. I was out of the game for a while too - I'm going to assume this all happened during covid?

 

They are outrageous and have been since the onset of all the Covid mess and subsequent economic uneasiness.... I haven't done any serious stacking since the outset of that mess and don't plan to do so until things settle. They will settle, but I think we still have a bit of a ride ahead of us.... Buying now is such a gamble.... But then I too was the guy buying back around 2012. So take it for what its worth.

 

@Randy Abercrombie yeah that makes sense that Covid played a role. Everyone was getting checks from the govt and the price of everything went up.
I guess it’s just taking longer for silver to settle down.
Lumber and vehicles are two things that come to mind that have calmed down.

 

I know the premiums are outrageous it is a sellers' market for sure. People are still buying with premiums that high. Buying silver at 16 to 19 dollars looks like never ever at this point but like Randy said we were buying back in 2011 and 2012 and I thought it would never go up. I would say 85 percent of my junk silver was bought then but since then have dabbled here and there but rolling the dice now on these latest purchases.

 

I purchased 8 Peace dollars yesterday at 25.00 a piece real good shape but still its gamble and probably will lose but my grandkids it will be 100 percent gain. melt was 17.00 or 18.00 thats 7.00 over spot I know better, but I see allot going for 30 a piece in good shape.

 

As long as you’re in it for the long haul then you’ll be fine purchasing at todays prices.
I think that’s all PMs should be, very long positions.

Back in 11 and 12 I didn’t know what I was doing and I was in no position to be buying. I had no cash savings and minimal income. I was only in it to make a quick buck. The only thing I did was lose a quick buck lol.

Now over 10 years later I’m in a much better financial position and am only looking to supplement my cash savings with very long positions in PMs. So I’ll still be buying at these prices. Just wish I could get more for my money on the stuff I think looks good.

 

It's been crazy. I've just been keeping my eyes out for 10 oz. bars..occasionally they can be had for reasonable premiums. The Italpreziosi bars weren't too bad for a while, but guess what, they pretty much disappeared from dealer's inventories.

Edit: Just noticed rockymountainbullion.com
has random bars for $246.04, not too bad.

 

That’s the best price I’ve heard of for a 10 oz bar. I’ll have to check it out.
Thanks for the tip.

 

I bought three modern US commemorative silver dollars for $22 apiece on Thursday.

I like these and have been happy with them.

I’ve also bought one silver maple leaf and an ASE in the last month for about $28 each which was also nice.

 

Good score. And there are still deals to be had out there. I have an old friend that buys abandoned storage rooms and on occasion he runs across jars of old silver. He always brings them to me. We wheel and deal a few minutes, strike a deal and I always end up with junk silver well below spot. He doesn’t know what spot is and usually what he gets from me pays his fee for the storage room so we all walk away happy…. I have another acquaintance that used to be my copy machine repairman. He had a magnetic sign on his truck saying he would buy gold and silver. He used to tell me that people that called him just needed liquid cash quickly and weren’t interested in the value of their coins. I bought a number of gold pieces from him back in the day. He did so well that he now has four of those “We Buy Gold” shops around town……. There are deals to be had. You just have to look in unusual places.

 

For what it's worth, as you well know, sellers/traders on internet sites are often? illegally offering their Silver wares at a premium exceeding those legitimately posted, offering trade for Gold at less than spot.

JMHO

 

Actually, this is the standard in two of the three LCSs I frequent on a regular basis and I'm in the 3rd largest US metro, so competition may be a contributing factor.

 

Bottom line, premiums will remain high
as long as people are willing to pay them.

 

ITS out of control 28 to 35 dollars for peace dollars seems completely off the deep end. and over thirty for Morgans and they are BIN COMMON DOLLARS. NEVER GOING TO GO DOWN AT THIS RATE. Might as well buy the gold stuff.

 

Good call… Takes up less space!

 

Vermillion Enterprises out of Spring Hill, Florida is advertising 90% quarters and Franklin halves for melt plus $3.50. He claims premiums are going down but does admit if silver softens they may go back up.
One guys opinion. Obviously you gotta deal with taxes ( if under $500 ) and shipping. Cash, wire, or zelle.

And yeah, I'd prefer silver dollars too.

 

Per what quantity? $1 face? That's like a 25% premium.

 

I was hoping to pick up a vintage silver bar yesterday and was willing to spend 2x spot.
The guy didn't show back up to our coin meeting so nothing to report.
Swing and a miss.

 

He doesn't quote x face.

1 oz. ASW plus $3.5. Not saying it's a great deal, but sure better than many sellers.