Not sure how this is playing out for you guys in OZ but there has been a shift in the price and availability of silver relative to gold in the past 2-3 weeks here. I regularly buy silver, own a tiny amount of gold that I had been looking to grow. Silver spot has dropped about $2NZ over the past 2 weeks (roughly $51 - 49). In that time the price to actual buy and hold has gone up. I could get Pandas, at about $62 generic buffalo etc for $58, now same coins are $65+ and $59+. These are prices through online dealers I have dealt with, trust and have always considered to sell at a good price locally. Trade me prices are about $4 higher, and with less choice but have also reflected the same price increase over the past couple of weeks. On the other hand gold premiums have fallen. On trademe half soverigns have dropped well below $300 last one sold for $275 . this is the first time in quite a while prices here have dropped to these levels. Last week I missed a 1987 1/20th oz panda go for $135 about $60 below the price I got from http://www.pandaamerica.com/subcategory.asp?subcat=1&categ=1&grp=1 Anyone know where this might be coming from? The only other thing I have noticed is that there are a couple of online dealers that used to only deal in full rolls e.g. 20oz+ that are now selling silver in single oz. My question... whats up with that?
Richard I listen to the weekly metals wrap at kingworldnews.com each Saturday and he stated that silver and gold buying last week was about equal in dollar terms. So, a people are buying a lot more silver coins than gold coins. Also, gold has just finished a nice run and people may be swapping gold for silver or just cashing out their gold. I would consider it an opportunity to buy some gold at a discounted price. What sites were you talking about that used to sell the 20 coin rolls? I was casually searching for silver ferns and one site I saw (nzsilver) seemed to be out of silver. Maybe the physical silver market is very tight in NZ right now.
Is there a problem buying metal from here to NZ? I hadn't thought about it. Is there a customs issue or is the postage excessive? Without doing the fx calc, some of those prices looked a bit steep at first pass.
