I think I might actually buy some pretty soon . Time for me to start leaving silver behind in favor of gold. Full-price premiums in Nebraska are increasing by more than the national average for 2022, with an average increase of a little less than 9%. Rostin Behnam of the (Commodity Futures Trading Commission) came out and said they had to tamp down the silver market. Which led to the latest series of days over 100% (from 8/19 through 8/23). DBS was lowest cost again on 6/30/20 (morning) but then Bullion Exchanges undercut them. https://www.youtube.com/watch?v=vtsgRJGNYGsWhy are premiums on silver bullion so high? High premiums are proof that stackers were wise to stack all these years. Although Neumeyer believes that the ties that bind silver to gold need to be broken, the reality is that most of the same factors that shape the price of gold also move silver. It is now above 20%. Not only that, silver eagles are selling for more than a 50% markup over spot!So what's causing this situation? UPDATE 2/1/21 @ 11:50 AM EST: There are no dealers on Ebay selling 20-coin tubes in quantities over 10. Looking first at the Fed and interest rates, it's useful to understand that higher rates are generally negative for gold and silver, while lower rates tend to be positive. Theres a LOT of money to go around. To each their own. See above. What is normal? The spot price of coffee at the moment is 1.90 per lb (500g ish). The truth is they have a spigot providing them small amounts than cannot keep up with demand. This leads to increased buying and selling, and bullion sellers react accordingly. Companies involved in silver mining rarely do so as their main objective. To anyone with a business education, it makes them look disgusting as they are manipulating facts. There are a variety of ways to get into the silver market. People are learning now (if they didnt during the worst years of the Great Recession a decade ago) that housing prices dont always just go up. UPDATE @ 9:10 AM EST: Sure enough, DBS Coin came in as the lowest cost dealer $673.38/$33.67 per coin. Look at the drip above that is going to dealers. The primary reason for the increase in Silver Eagle premiums in recent years has been the seigniorage cost charged by the US Mint. In other words, they're generally more liquid and more likely to help fetch you a higher price when the time comes that you wish to sell your silver bullion. I think it is asinine to call out bullion dealers as bad people or crooks because YOU are about to wipe them out of inventory and THEY need to protect their business. INN - Investing News , Is Silver a Good Investment? UPDATE 1/28/21 @ 12:00 NOON EST: Physical silver premium declined into the low 18% range until the evening of 1/29/21 when it moved above 19%. The market essentially has the governor switch at the retail front end. And, yes, Bullion Exchanges did come in with quantity by 9:30 PM EST. On the bright side, premiums have not been this low for a long time . If you want to take down Darth Vader, youre going to need a bigger boat. Yeah, that seems to make sense . A newer dealer called Pacific Coin is offering mixed date Silver Eagles at $689.00/roll of 20 which is $8.90/coin. And they know it. Below, you will see your blueprint to get to $50 silver, and soon. Create a free website or blog at WordPress.com. When the COVID-19 pandemic hit, the Fed cut rates down to zero from 1 to 1.25 percent. If they increase their income to $50,000, they are expected to pay 5.48% of their income. And gold bars, Maybe 5%. In California's new state-run health insurance market, Kaiser Permanente will cost you. And these can be delayed for a long time. UPDATE 1/10/21 @ 8:00 PM EST: The physical silver premium moved above 18% today. Stop trying to make dealers look like they are ripping people off, it then makes you look shady. ", Another factor driving Neumeyer's position is his belief that the silver market is in a deficit. Does gold store energy? To some experts, it explains why the U.S. is experiencing its highest inflation rate since 1982. The physical silver premium jumped from 25% to almost 35% on 7/21/20, but by the next morning it was lower than it has ever been 24.20%. Meanwhile, theres a line a block long in line to buy. In addition, there is still a wide gap between the low-cost dealer (DBS Coin) and the others. Then there were the millions who turned to the traditional safe haven investment of bullion. They tell you, come to my site and Ill get you 1,000 oz bars all day long. This premium can also be expressed as 20% over spot. If the demand for silver is so high, why hasnt the spot price reflected us? This was followed by a series of days in the high 90% range (8/5 8/9). I purchased a roll of Silver Eagles back in August of 2019 at a 13.47% premium. The latest silver reports show investment silver at 500m oz, to include ETFs, yet price hasnt moved since the summer? It appears, once again, that physical silver has gone no offer. I was using the APMEX physical price this morning (even though it had limited quantities) but now DBS has some 20-coin tubes. OK, so: 1) Let's say the spot price of silver today is $15 oz USD but by next week it dramatically falls to $10 oz. "Now, as (silver) starts pushing, like I said, into the mid-2030s and becomes more of an industrial-based metal, then I think you see the likelihood of that 8 percent growing to a 10 to 12 percent type of CAGR," Watson told INN. Please refer to thecookie policy for collected data, privacy and GDPR compliance. there's 82m oz sitting in the COMEX warehouses. Smart Silver Stacker 32.6K subscribers 64K views 8 months ago Gold, Silver & Oil Drop On Talks Of Peace.. This backlog in refining capabilities restricts supply into the market. The BIG problem which you are not grasping is that the underlying silver market is NOT going to move price points by you clearing out retail. More recently, the huge economic impact of the COVID-19 pandemic and Russia's war with Ukraine have been major sources of concern for precious metals investors. Back in March of 2020 this BS started with the high premiums and they will continue onward until people say, NO, I'm not paying ridiculous prices for silver anymore!! The spot price has become the price for "paper" silver (ETFs and the like). UPDATE 2/3/21 @ 8:20 PM EST: Finally a dealer (Liberty Coin) came through with offers of 20-coin Silver Eagle lots in quantities over 10. Get your shiny. Remember at the same time those who deal with 1,000 oz bars are telling you theres no shortage, come here and they have 5-16x higher premiums than normal. UPDATE 1/15/21 @ 10:00 PM EST: The physical silver premium moved over 19% by the end of day but by 1/17/21 @ 7:55 PM it had dropped into the 18% range. This potentially is what is in store for gold and silver soon. Scroll. It is also harbored by preppers and survivalists who believe silver has trading potential should the monetary system as we know it collapse. But it seems like the silver premium is up more these days than even just a few years ago. Silver dropped to $16.20 and premiums remained at just under $4 per ounce. DBS had lowest cost in quantity until the afternoon of 6/3/20. "Consumption numbers look like they're somewhere between 1.2 and 1.4 billion ounces. There are also silver exchange-traded funds that give broad exposure to silver companies and the metal itself, while more experienced traders may be interested in silver futures. UPDATE 3/9/21 @ 10:10 AM EST: Silver Eagles are getting more plentiful again. Nonetheless, well-known figure Keith Neumeyer, CEO of First Majestic Silver (TSX: FR. UPDATE 4/15/21 @ 7:40 PM EST: The physical silver market is getting very tight. Under this definition, the British Pound Sterling (), euros (), Japanese yen (), and U.S . UPDATE 8/10/20 @ 10:05 AM: The decline in premium has continued since 8/5/20. This low was set on 9/14/21 at 26.06%. Mike Maloney told me the seigniorage on Silver Eagles is 50% higher today than when he started GoldSilver in 2005. American Silver Eagles' premiums are high for one main reason: demand. He has also stated that silver production has gone down in recent years, meaning that contrary to popular belief, the metal is actually a rare commodity. Also Liberty Coin came in with lower prices which lowered the premium later in the day. The price of silver has had a solid 2023 so far, . UPDATE 10/25/20 @ 7:00 PM EST: Physical premium jumped up over 18% this evening up to 18.71%. During other months, silver and gold prices tend to have more volatility. The above is showing you what the deal is and why your favorite dealer may be gouging you. I had to go the second page of Ebay results to find the lowest cost. You should by now already have a decent physical stash. So as an investor, what are you to do about this? The healthcare giant has the highest rates in Southern California and some other areas of the state, surpassing rivals such as Anthem Blue Cross and other smaller competitors. In the fall of 2008, for instance, silver premiums exploded in percentage terms on popular silver bullion products. The next best deal is a 40-coin lot from Bullion Exchanges. A similar twenty-percent premium . Cookie Notice Bullion dealers not charging 50% premium. The common mistake is just trying to go after retail. This is based on demand to slow you down to keep them from going out of business. "The industrial side of silver is very bullish for silver over years to come, even if the safe-haven demand for gold goes away," he said in an interview with INN in January 2023. As DEMAND rises, PRICE must move up in order to adjust to limited supply. silver bars, youre paying approximately a 20-25% premium on. A few weeks ago, I saw price at $27 and the price of eagles at $41. Here is the availability on Ebay: DBS Coin: $689.36 $34.47/coin, Liberty Coin: $696.98 $34.84/coin, MCM: $745.80 $37.29/coin (26 available), MCM: $794.60 $39.73/coin (145 available), APMEX: $796.49 $39.82/coin, APMEX: $878.97 $43.94/coin. YOU love their product. Los Angeles Times, June 12, 2013. But key shortcomings . Anyone buying silver for 5 minutes knows that the larger the quantity, the lower the premium per ounce. The massive amount of available silver has not been met with heightened demand, which has kept prices low. You are sort of seeing narratives out there by the evil dark lord sith Jeffrey Christian and the like talking about there is no shortage. Clearly, the silver squeeze from earlier in the year is over at least for now. Sit through the first lecture. UPDATE 10/20/20 @ 2:00 PM: Physical premium is now under 18% 17.51% to be exact. When investing in silver of any form, be sure to buy it from a reputable bullion dealer. Many experts in the space expect silver to perform strongly in the years to come, but don't necessarily see it reaching US$100 or more, especially given the current macroeconomic conditions. When Palladium broke the tampy tamp, then it went nuts. Refinery may be backed up. Privacy Policy. Enter your email address to subscribe to this blog and receive notifications of new posts by email. What I had heard from 2011 was that they had to stop taking things like constitutional and silverware because refineries were backed up for 2 months. Today the premium hit 71.05%. 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