What were premiums before recently?

I see the opposite around here. Pawn shops have the same old stale inventory in their case with outrageous price tags. ($100+ for common Morgans)

One of the shops around here didn't have any silver in his case when silver was at $35 an ounce. He said he had a lot, but that the prices weren't right for selling, so he was holding onto it. I wonder if the price is right now that silver is at $24. I wonder if it will be right when it's under $20. That's the risk dealers take in holding onto inventory because the price fell since they bought it.

If you're in the business of buying and selling a commodity with a volatile price, the only way your business will be sustainable through any market is to move inventory. The higher the volatility, the faster you should be moving it. The way you move inventory fast is by narrowing your spread. Be willing to pay a little more to get inventory and be willing to sell it for less than your competitors.

 

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I agree with you, but just want to point out that there are at least 2 dynamics here. Those from the sidelines who are diving in and those who are always buying and doing DCA. Those of us who do DCA will continue to be able to buy more than usual because at a lower price we can afford more metal for the same amount out of pocket. That alone will keep the pressure on as us DCA'ers are never on the sidelines.

 

Looks like premiums might be calming down. My local shop has been 4 to 4.50 over spot for generic. And today it was down to 2.25 for any quanty

 

Do your homework. I'm way too tired to do it for you........

 

How would I go about doing that? Is there a site that has that information? I called both Goldmart and JM Bullion and they each said that they don't have information regarding the prices that they charged in the past. I thought coming here and asking people who have likely purchased bullion in the past few years and enjoy the discussion of this specific topic would be the best way to get this info. Thanks again to everybody for your helpful responses.

 

Use google and get the URL for "Wayback machine", a net archive and see if you can get it there.

I wouldn't expect any bullion sales place to give that info ( Of course they know ) as it would show how much greater it is now

 

From rote memory, the least I paid for 2010 sets was about $880, when the 2011's came out silver was in the $30 to $40 range and I paid about $200 for most of mine, then picked up duplicates later at about $160, the 2012's all cost me about $150 to $160.

My advice to you is to check Provident Metals and see what they have them listed for. Right now it appears they only have a couple in stock, but most of them go in and out of stock on a regular basis. This is for the 2011 and 2012 bullion series. I believe the 2010's will cost you, as many people didn't know where to get them for a reasonable price, so they paid up for them, add to that most were sold in early 2011 when silver was in the $40 range for most of the 1st half of the year and you can figure out why most won't sell for bullion money.

http://www.providentmetals.com/bullion/silver/us-slv/america-the-beautiful-5-oz.html

Just check with them on a regular basis and you'll have a set in no time.... good luck

 

Lets say premiums for SAEs were around $3 until recently and that was when silver was in the $27-$33 range. So basically a 10% average premium. If silver were to stay around $23 for awhile, would you think the premiums would come back down to $3, what they had been until recently, or $2.30, which would be the same 10% premium?

On the opposite side, does anyone know the premiums they were charging when silver was around $45 for awhile there. Were the premiums around $3, or $4.50, for the 10% number?

 

provident ASE was $2.79 over spot before the silver plunge then it shot up to like $7 but it's back down now to more reasonable levels.