I've been out of silver stacking for 5 years now, and I'm just now starting again. The lowest I see a a 2020 1oz ASE is about $10 over spot for a single coin. I think 6 years ago, I've only paid ~$3 over spot per coin. Is there a reason for such huge markups this year?
American eagles have always had the biggest premium of the non numismatic major government silver coins in my experience. In the past month I have sold a few maple leaves, krugerands and kookaburras for about $10 over spot as well. It is just this crazy economic situation as well as their being a shortage on physical silver on account of shutdowns Hopefully things go back to normal (or maybe the doomsday time has finally come) soon and we can go back to getting eagles a few bucks over spot
Ah so premium over spot has gone up over the past few years, and it's not just because of the current COVID pandemic situation, and it's not just ASE's but most other government coins as well. Does this sound correct?
It's happened since COVID-19 here in Australia. Prices/premiums were pretty normal before hand and then everything sold out and premiums rocketed. Here is a news article from one of our biggest bullion Companies here. ____ These last few months have seen demand for metal at levels not seen before. Some of the biggest bullion dealers in Australia have struggled to maintain supply of gold and backorders for silver the norm, for some out as long as July delivery. Premiums have risen as refiners pay more for the raw metal and freight costs spike on reduced freight avenues. Perth Mint has long since stopped taking orders for any minted gold, gold coins (except 1oz Kangaroos), minted silver, any cast silver bar excepting 1kg, and any silver coins allowing them to concentrate on core products of cast gold bars, cast silver kilos and working in the background through a massive 1oz Kangaroo coin backlog. https://www.ainsliebullion.com.au/g...e-premiums-spike/tabid/88/a/2248/default.aspx ____
And there will be a new design for 2021. So some people think the 2020 ASE will be have high demand (but it is not rare - about 8 million sold already).
I think gst was applied to bulk imported coins sometime during the last few years which added to premiums. Maybe a dealer could confirm?
