ASE's Kicking It !!

Discussion in 'Bullion Investing' started by GoldFinger1969, Feb 25, 2015.

  1. GoldFinger1969

    GoldFinger1969 Well-Known Member

    http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=28051

    "The United States Mint sold 5,530,000 silver Eagles in January and 2,149,500 in the first half of February. In 2014, 4,775,000 silver Eagles were sold in January and 3,750,000 in all of February....Sales based on units sold have been phenomenal,” he said. 'We’re about 50 percent over where we were last year for the same number of days since release.'
     
    Last edited: Feb 26, 2015
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  3. PTrain22

    PTrain22 Member

    Interesting article, although obviously bias laden. In defence of the Maple Leafs, up here in Canada ASE's don't even exist on the secondary market, or even the primary for that matter. It's at least 4:1 if not greater for ML sales up here. This is just an assumption as an active collector/investor, which is interesting in itself as I live and do business right near the border. Both products are excellent either way. Both command strong premiums.
     
  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I wonder why if the demand is so strong why MCM and others have to keep running those specials ?

    When silver was above $40, did they run them back then too ?
     
  5. PTrain22

    PTrain22 Member

    Good question. It makes me think of another one which may answer yours. Are ASE's considered elastic or inelastic goods? I'm sure that at some point there must be a price at which an average collector reduces his quantity purchased. However, that said, even though one's buying power may be reduced with $40 silver, many would still spend the same dollar amount on them, just getting less bang for their buck. I'd say that they're inelastic - that is, a small increase in price does not lead to a large decrease in demand.
     
  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Interesting theoretical question, but I'm not sure it comes into play with any investment or quasi-investment vehicle, whether it's silver, gold, or stocks and bonds.

    You should buy MORE of something as the price drops but as we know people tend to buy high and sell low.

    Among savvy, long-time silver collectors, I'm sure there's more buying. But from the general public, it's not the buying you'd see if we were up at $60 and the chatter was we're going to $100 so you better buy now.
     
  7. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Have you ever tried to stretch a dollar to make ends meet?

    Chris;)
     
    PTrain22 likes this.
  8. GoldFinger1969

    GoldFinger1969 Well-Known Member

    The last 5 years !!! :D
     
  9. ROLLJUNKIE

    ROLLJUNKIE Active Member

    Maybe it has something to do with the fact that people don't seem too concerned to pay 20%+ premiums for ASE's. Craziness.
     
  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    It's a coin...liquidity...well-known.

    Plus, you can get them closer to 5-12% premiums with the deals, sometimes even lower. That's why I was suprised that APMEX, MCM, etc. are running those deals if demand is so strong...probably want to get the general public to buy and get their emails for promotions but they are probably mostly getting regular buyers who would buy no matter what.
     
  11. ROLLJUNKIE

    ROLLJUNKIE Active Member

    Never seen an ASE for 5% over. Never. Please show me where to buy them ANYWHERE for under 10% over.
     
  12. GoldFinger1969

    GoldFinger1969 Well-Known Member

    We've had posts/threads talking about specials on Ebay from some of the silver sellers....I didn't buy myself, but I believe some of the premiums to silver bullion were single-digit. I could be wrong but I know it was way under 20%.

    A little help, recent silver buyers ??
     
  13. Govt Mule

    Govt Mule New Member

    Occasionally, one will find ASE specials, MCM ran tube for $377 last week. Generally the ASE sells at healthy premium. Just using comparesilverprice.com, current best price for ASE is 18.08% over spot, with most sellers in the 22-24% range. ebay is currently listed averaging a whopping 45% mark up.
    If we extrapolate the January figures, 2015 production could reach 65 million units. No doubt that the ASE enjoys vast appeal. Hilarious sub markets have been created, slabbed MS69 & MS70 coins command huge premium. Not to mention the totally bogus "first strike" market. ASE's seem to be marketed entirely on the "greater fool" syndrome.
     
    Last edited: Feb 26, 2015
  14. GoldFinger1969

    GoldFinger1969 Well-Known Member

  15. SilverSurfer415

    SilverSurfer415 Well-Known Member

    PROVIDENT now offer FREE SHIPPING.

    SPREAD THE WORD!!!!
     
  16. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Can we confirm or refute my assertion that silver coin or rounds or whatever in recent weeks was under 10% premium to bullion ? Just want to make sure I didn't give out bad info.
     
  17. JPeace$

    JPeace$ Coinaholic

    Silver rounds are a different animal to ASE's or Maple Leaf's.

    Does anyone know what premium a master bullion dealer pays to the US Mint for silver eagles? I thought I read somewhere they pay a small premium over spot pricing. If that's true, than that premium, plus their mark up are reasons for ASE consumer prices.
     
  18. westcoasting

    westcoasting Active Member

    A few years ago, I read online that 'Mint approved buyers (vendors)' paid $2 over spot price for bullion ASE and had to order a minimum amount. Also, I recall there were lots of business related criteria that had to be met to be considered as an authorized buyer.
     
    JPeace$ likes this.
  19. ROLLJUNKIE

    ROLLJUNKIE Active Member

    I specifically said ASE's. You can find generic bullion for under 10% all day.
     
  20. JPeace$

    JPeace$ Coinaholic


    That was the number ($2) I was thinking of also, but wasn't positive. I believe to qualify for master bullion dealer status, you need to sell $1M per year.

    So with Silver price where it's at, it's no wonder we pay bigger premiums for ASE's.
     
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    OK, so APMEX, MCM, Provident, etc....they're all probably Master Dealers...so they probably are the ones who make money no matter what on each ASE and that's why they run those deals all the time ?

    If it's an oligopoly, that may explain why the price never approaches bullion melt...nobody wants to use it as a loss-leader.
     
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