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Daylight robbery


ravenshunter

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Just seen the 10oz silver Yale of Beaufort coin on gs.be for.... wait for it....a whopping €226 when the price of silver in under €13 an oz.thats over a €90 premium for a coin that will have a massive mintage.i know business is business and maybe there is a demand at the moment but only two weeks ago they were selling at the beginning for €161.i hope you guys have deep pockets.

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30 minutes ago, Platinum said:

Same pattern with many other coins. If the price goes down the premium goes up.

That's just crazy.silver was about a €1 less than todays spot price yet that €1 difference has resulted in a €60 added on premium.

My advice would be to hang on till  the mints are back at full throttle.you are sure to get it elsewhere for a price that you don't feel like you've just been fleeced.🤞🤞🤞

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3 hours ago, ravenshunter said:

Just seen the 10oz silver Yale of Beaufort coin on gs.be for.... wait for it....a whopping €226 when the price of silver in under €13 an oz.thats over a €90 premium for a coin that will have a massive mintage.i know business is business and maybe there is a demand at the moment but only two weeks ago they were selling at the beginning for €161.i hope you guys have deep pockets.

Maybe if you ask them real real nicely, they'll have the manners and decency to at least use vaseline.

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6 hours ago, Platinum said:

Same pattern with many other coins. If the price goes down the premium goes up.

 

this is not true. the price went down in dec 2015 and

people like shadowstacker were able to get lots of

silver at the new reduced price.

the premiums are up only because of the quarantine

(lack of liquidity).

 

HH

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1 hour ago, HawkHybrid said:

 

this is not true. the price went down in dec 2015 and

people like shadowstacker were able to get lots of

silver at the new reduced price.

the premiums are up only because of the quarantine

(lack of liquidity).

 

HH

Well time will tell....let's see how things are after the virus has left the building.

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5 minutes ago, ravenshunter said:

Well time will tell....let's see how things are after the virus has left the building.

 

dec 2015 is already proof that the lowest price in a decade

does not necessarily mean high premiums on physical silver.

even if the premiums remain after flow is restored. that just

shows a mixed bag. it's hardly conclusive that low prices

means high premiums on physical silver.

what kind of proof are we waiting for?

 

HH

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2 hours ago, HawkHybrid said:

 

this is not true. the price went down in dec 2015 and

people like shadowstacker were able to get lots of

silver at the new reduced price.

the premiums are up only because of the quarantine

(lack of liquidity).

 

HH

 

was

 

referring

 

to

 

the

 

current

 

situation

 

.

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1 minute ago, Platinum said:

 

was

 

referring

 

to

 

the

 

current

 

situation

 

.

 

and the current premiums are due to liquidity issues as a

result of the quarantine. it has nothing to do with the drop

in the spot price. lower spot prices causing the current high

premiums is not true.

 

HH

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It

 

is

 

about

 

supply

 

and

 

demand

 

and

 

right

 

now

 

the

 

demand

 

is

 

high

 

and

 

the

 

supply

 

low

 

.

 

Now can you please stop writing with double space and stop the blasted signature at the end?

Edit: It is so annoying.

 

PP

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1 hour ago, Platinum said:

But for the love of...

Sherlock, if the price goes down they raise the premiums because of the high demand and low supply. 

 

that is not what is proven to be happening.

if the spot price did not drop. the premiums would still

rise due to the lack of liquidity. the rise in premium is

regardless of the movement in spot.

ie the spot price has nothing to do with this rise in the

premiums.

 

HH

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10 minutes ago, Platinum said:

HH you are biting your own tail right now...

 

you have no proof to show that the premiums are related

to the price drop. I indicate proof to the contrary which you

fail to disprove. yet I'm the one random bantering.

keep on making it up as you go along.

 

HH

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3 minutes ago, HawkHybrid said:

 

you have no proof to show that the premiums are related

to the price drop. I indicate proof to the contrary which you

fail to disprove. yet I'm the one random bantering.

keep on making it up as you go along.

 

HH

Dude we know your HH, your name comes up next to post. Whey do you sign everything, lol.

Blehhhh

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49 minutes ago, HawkHybrid said:

 

you have no proof to show that the premiums are related

to the price drop. I indicate proof to the contrary which you

fail to disprove. yet I'm the one random bantering.

keep on making it up as you go along.

 

HH

My proof has been on pretty much every dealer’s website. Same as your claim. You claim the spot price has no impact on the premiums and I claim it does, yet right now both of our claims are valid depending on which blasted angle you are looking from.

Once again you and I are stuck on a merry-go-round that never stops. So let’s just be frank and set the record straight.

We both think the other one’s logic is illogical and no matter of what we percieve to be proof forwarded to the other will change the other’s mindset.

Hence let’s just ignore eachother.

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1 hour ago, HawkHybrid said:

 

you have no proof to show that the premiums are related

to the price drop. I indicate proof to the contrary which you

fail to disprove. yet I'm the one random bantering.

keep on making it up as you go along.

 

HH

Seriously, cant you stop writing like that please?. Its irritating to read.

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1 hour ago, HawkHybrid said:

 

that is not what is proven to be happening.

if the spot price did not drop. the premiums would still

rise due to the lack of liquidity. the rise in premium is

regardless of the movement in spot.

ie the spot price has nothing to do with this rise in the

premiums.

 

HH

Wouldn't low spot prices bring more interest from more people looking to buy, hence effecting supply.

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1 minute ago, Platinum said:

My proof has been on pretty much every dealer’s website. Same as your claim. You claim the spot price has no impact on the premiums and I claim it does, yet right now both of our claims are valid depending on which blasted angle you are looking from.

Once again you and I are stuck on a merry-go-round that never stops. So let’s just be frank and set the record straight.

We both think the other one’s logic is illogical and no matter of what we percieve to be proof forwarded to the other will change the other’s mindset.

Hence let’s just ignore eachother.

 

dec 2015 silver hits 10 year low. no high premium for

physical silver.

2020 silver hits 10 year low. there is a high premium for

physical silver.

how is that conclusive that 10 year low prices results in a

high premium? at best you're looking an inconclusive

mixed bag. hardly grounds to suggest that low spot prices

results in high premiums. if you choose to ignore the 2015

data then you might as well make it all up as you go along?

 

HH 

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17 minutes ago, Platinum said:

We are not even discussing the 2015 data here sigh. The discussion only applies to 2020. PP out.

 

if you choose to restrict the data to only the single

occurrence that confirms your bias then yes the data

backs your position. making a general conclusion from

a single data entry is truly a good representation of the

truth?

the fact that 2015 did not show high premiums despite

similarly low historic pricing is not important, as it does

not show confirmation of the bias?

 

HH

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HH is right about a surge in demand causing the spike in premiums, though I'm not sure what liquidity he's referring to.

It's also true that a drop in spot price can lead to higher relative premiums – percentage over spot. This is because sellers need to protect their margins, starting with mints and refineries. Some mints charge a flat amount over spot, not a percentage. For example, the US Mint charges $2.00 over spot per Silver Eagle coin. This sets the floor on premiums – in normal times, the best American dealers charge a little over $3.00 over spot for a single ASE (volumes less than a tube of 20).

If spot falls from $16.00 to $12.00, the $2.00 flat upcharge grows from a 12.5% premium to 16.7%. And a $3.25 retail premium grows from 20% to 27% just from that drop in spot.

For low priced bullion like silver, sellers are more protective of their margins. They might decide that they need to make something like $2.00 per ounce. So when spot falls, sometimes the premiums don't change much, which makes them larger as a percentage. This's different from gold, which tends to maintain relative premiums better since there's a lot more to work with. The US Mint doesn't charge a flat fee over spot for Gold Eagles, for example – they charge 3%, so you're more likely to see premiums shrink in dollar terms when gold spot falls.

Premiums don't generally increase in dollar terms when spot falls. But this fall was very sudden and happened along with a huge surge in demand for retail physical silver. I think all the major American dealers broke sales records.

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