Current "normal" premium over spot for silver

Discussion in 'US Coins Forum' started by dave92029, Feb 20, 2011.

  1. dave92029

    dave92029 New Member

    On purchases of 1-20 ase - six months ago you could buy Silver American Eagles for $2.50 over spot, then the Mint raised their premium and the retail premium went to $3 over spot.

    Over the last six months I have suggested that several friends invest in silver. I guess they finally looked into doing it (after a 70% run up!).

    The "normal" premium over spot appears to have increased along with the spot price.
    What is the current "fair" premium over spot to pay for American Silver Eagles in quantities of 1-20?

    The Mint produced over 6 million ASE last month so there shouldn't be a lack of supply. What's going on?
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  3. coinman0456

    coinman0456 Coin Collector

    Depending on the distributor , a fair margin price is $1.90 -$2.50 AMPEX is higher than that. Way to much in my estimation.
  4. dave92029

    dave92029 New Member

    Coinman, thanks for your reply, but where do see $1.90 - $2.50 premium on 1-20 ase's??

    I see nearly double the premium that you mention:
    Golden Eagle $37.16 = $4.49
    AMPEX $37.05 = $4.38
    Gainsville $36.92 = $4.25
    Mint Products $ 37.30 = $4.63

    Plus a wide variety of additional shipping costs. Since the US Mint charges their 7 Primary Distributors $2.00 over spot, the retail price must be greater than $2.00 so that the primary distributor and the retail merchant can make a profit and cover their shipping expenses.

    Is $4.25 - $4.50 the new norm?
  5. coinman0456

    coinman0456 Coin Collector

    You have to do some shopping around , but there are bullion dealers out there that have reduced over spot prices. I understand your concern though. I refuse to pay that and than $12.00 for S H plus tax. IT's crazy .
  6. Dave,

    Check out these prices:

  7. dave92029

    dave92029 New Member

  8. coinman0456

    coinman0456 Coin Collector

    See you just have to shop around.
  9. yakpoo

    yakpoo Member

    Kitco is selling ASEs for $2.75 over Spot...minimum purchase of 500 required.
  10. fyha

    fyha Junior Member

    2010 silver quarter proof set is $2.75 over spot ( 0.9 oz silver ).
    So round $3.00 over spot in 1 oz.
  11. coinman0456

    coinman0456 Coin Collector

    Looks like between $2.60-$2.80 is a good deal with silver at $32.&
  12. coinman0456

    coinman0456 Coin Collector

    Another big gain today in silver . I'm very enthusiastic about these trends.
  13. whstler

    whstler New Member

    I thought premiums were determined as a percentage of the price of silver, rather than a set dollar amount.
  14. coinman0456

    coinman0456 Coin Collector

    That is correct, for the most part . Depending upon the " Bullion " Distributor, premiums paid can vary slightly .
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