Is This Usual?

[Silvs]

I was looking at the European Mint yesterday and I was ready to purchase my first coin. I looked today at the spot prices for the metals and saw silver had gone up 0.01 euros. I figured this wasn't a big deal and the price would go up a tiny amount. When I got back to the product the price had jumped from 19.95 euros to 20.63. I have to say this was a bit of a nasty surprise and put me off buying today. Is it usual for prices to vary this much on such a small spot price swing or has this got to more do with premium? Have the European Mint simply upped their prices? The product in question is: https://www.europeanmint.com/2019-1oz-tokelau-silver-chronos-coin/ I also noticed the price has fluctuated by 0.01 euro throughout the day up and down but this is no big deal - the price jump overnight was! I also had a look at other products and even the 5 ounce coins were no cheaper. Was such a price rise a reflection of the times or is it pretty standard?

 

[badar]

The price has been fluctuating a bit on those as I’ve been following their coins for a while. It does fall down to around €19.50 occasionally. 

You could wait for a dip in price to grab some; but obviously can’t guarantee anything as the price can also just go up. Nothing wrong with waiting a few days to see if its a price you’re comfortable with.

[Silvs]

9 hours ago, badar said:

The price has been fluctuating a bit on those as I’ve been following their coins for a while. It does fall down to around €19.50 occasionally. 

You could wait for a dip in price to grab some; but obviously can’t guarantee anything as the price can also just go up. Nothing wrong with waiting a few days to see if its a price you’re comfortable with.

The things is I don't have any PM so it's a difficult one for me. 😂 There's only so long you can wait before you worry your missing out on a rush.

[WhySoSerious]

Recommended reading.

Don't bother following the spot price, if you plan on buying from EM. Even if the spot price goes down, EM premiums often go up more than the spot price went down. Without any warning, even in the middle of a trading day. I don't know why they even bother to adjust their prices? Why don't they just say the price what they are willing to sell for, as obviously spot price fluctuation (at least down) seems to be irrelevant to their pricing policies.

 

edit: added stuff

 

[WhySoSerious]

Funny enough, just as I said they should just lock or freeze their prices, it seems that their prices stopped following the spot. The spot just took a sharp 40c/oz down and then 30c/oz up.... but the prices were frozen on that site. Could also just be a technical glitch? Or... not?

Even more funny, that the same "freezing" seems to have happened to their Estonian competitor. Makes me wonder what is the relation between these two companies.... there is also one other incident that makes me wonder are they actually two companies, or one company operating through two different websites......

[Silvs]

20 minutes ago, WhySoSerious said:

Funny enough, just as I said they should just lock or freeze their prices, it seems that their prices stopped following the spot. The spot just took a sharp 40c/oz down and then 30c/oz up.... but the prices were frozen on that site. Could also just be a technical glitch? Or... not?

Even more funny, that the same "freezing" seems to have happened to their Estonian competitor. Makes me wonder what is the relation between these two companies.... there is also one other incident that makes me wonder are they actually two companies, or one company operating through two different websites......

What is this other company and is it really not following the spot price? That's pretty shocking. 

[WhySoSerious]

54 minutes ago, Silvs said:

What is this other company? 

https://silvercoins.ee/

They are really on short inventory now, their webshop was closed after the recent (a month ago?) spot price crash. But now back online (with limited inventory).

They were SLOW to update their prices also before, so maybe it's just that.  Still.... can't stop thinking about what's going on, when both of them seem to have "frozen" prices ATM.

But as said, it could also just be a technical glitch, in which case I should just start unrolling the tinfoil from around my head...

EDIT: Who says they need to follow the spot price? I was more pissed off when EM initially seemed to follow the spot price, and then suddenly yanked the price up by 1,25e/oz, while spot was flat or even going down. Having frozen (or "limit down") prices is more open IMHO, compared to the "unpredictable"-premiums MO...

Regardless if we are talking about EM or silvercoins.ee or ANY dealer, one should ALWAYS follow prices for a longer period, before making purchases. That way it's easier to recognize these unusual price behaviors.

 

 

 

 

[Pete]

As you appear to be new to this have you looked at the cost of shipping a coin ?
That's going to be a real shock if you are concerned about a few cents price change without warning.

[WhySoSerious]

EM and silvercoins.ee prices suddenly started following the fluctuations of the spot price again. After being frozen for several hours.... and both "came back online" at the same time (or close to).... hmm... 🤨