Been keeping my eye on "deals" and it seems like ASE sell in the $34-$35 range incl shipping whether spot is 30 or 27.50. Is it just uneducated buyers or do they know something we dont..
I believe the buyers make the market and they probably want the ASE now and not risk the price of silver going up again. Are there cheaper places to buy? Yes, but if you look at AMPEX the cost of a single ASE is $31.75 plus $12.95 in shipping so the guy paying $35 is still paying less then a large online store. 65GT350
Funny you should say that, but I monitor Ebay in Italy, France, UK and Germany. (Also Switzerland but most coin sellers in Ebay there are from Germany). The days for bargains have passed. The gold/silver frenzy on Ebay is such that the prices are well above what I pay in the commercial sites or in our local shop. There are silver Kookaburras and Chinese Pandas being advertised on Ebay at twice the going rate! Now in the UK, Tesco (the largest supermarket) have started offering cash for gold coins. The world is going mad! Steve
Now in the UK, Tesco (the largest supermarket) have started offering cash for gold coins. Holy Cow! That is not very comforting! Steve
At what point will you start seeing some easing in ASE prices on the bay? $25 spot? $24? Surely these arent going to maintain $7-8 over spot..
Putting things in a little perspective here: Over the past 40 years, the UK has demonetized all its pre-decimal coinage, plus the New 5, 10, and 50 pence coins, plus the pound note. On top of that, pound coins (which replaced the pound notes) are apparently very susceptible to counterfeiting. That's not a very good way to instill confidence in a fiat currency.
I added some this weekend and price shopped the big 3 online dealers with the credit card/shipping fee's vs' ebay with a 6% rebate. i ended up buying on ebay, a couple rolls of 2011 eagles for $31.30 a pop.
Another way to look at it is that the spot price is a paper price, not a real physical price. Silver is also in backwardation on the futures markets. So you can expect to pay more for physical silver than paper silver. [Yes I know you can take delivery of silver from Comex if you get the approval in advance, but the vast majority of contracts are rolled over.]
This makes no sense. A comex contract is an agreement to buy physical silver at a set price on a certain date. Nothing more, nothing less. The fact that contracts get rolled is irrelevant to this point.
On the contrary, the fact that only a small percentage of contracts result in delivery is key. The vast majority of players are speculators with no intention of delivering or taking delivery of silver. They are also not hedging physical holdings. The result is a price that is somewhat disconnected from the physical market because it is the paper-pushers and not the physical holders/users who end up setting the price. They become the price makers and the folks involved in the physical metal become the price takers instead of the other way around.
You are speaking gibberish. You said that paying for physical silver is more expensive than paper silver. A comex contract is neither. Paper silver is when you buy into something such as a silver ETF or at one time something as simple as a silver certificate. In contrast, a comex contract is an agreement to purchase silver in the future at a certain price. Until that contract is settled, you don't own any silver. (paper or physical)
Sounds like the shoeshine boy is giving stock tips: http://www.barrypopik.com/index.php...iving_you_stock_tips_its_time_to_sell_joseph/
Funny story - if a dealer forgets to trade the contract, they're on the hook for delivery: http://thedailywtf.com/Articles/Special-Delivery.aspx
I talked to a local dealer last week, and the way it sounds the 2011s will probably be selling in this range unless silver takes a huge dive.
at first 2011s were selling for $38-40! They're still going for $35+.. even buying a handful with $8.95 shipping through provident is cheaper.. I guess thats an uneducated buyer for ya..
It would be awesome if Provident had another free shipping coupon like the one they had in Coinworld a few months back.
