Is anyone actually paying these crazy premiums on 1oz coins atm?.

Discussion in 'Silver Coins' started by PatKnowall, Jul 30, 2020.

  1. PatKnowall

    PatKnowall New Member

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    So I was thinking of purchasing some Brittania's from Bullion now when they release them in the next few days but I'm guessing they are going to be around $43 a coin like some of the other coins they are selling. My question is. Are any of you actually buying 1oz coins atm because I spoke to a lot of people I know stacking silver and they all said they are waiting for the silver price to crash and that it's just a phase because of COVID being here atm. I keep thinking about Perth mints kangaroos that were $28 a coin a few weeks ago and now they are asking $38 and I just can't bring myself to buy some knowing how cheap they were before all this COVID stuff.

    People are saying silver may go really high as high as $100 an ounce but I'm just not really buying that this will happen and if it did I don't think anyone would wanna buy silver anymore at this price?.
     
  2. whay

    whay Well-Known Member

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    The worth of silver/gold coin has never change.
    Your $ like all fiats are going down and will be worth zero someday!
    I consider the the ability to exchange worthless paper for real money a privilege.
     
  3. PatKnowall

    PatKnowall New Member

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    Yeh alot of stackers have told me to wait till silver crashes back down again. Think ill listen to them hey cause $43 a coin is really really stupid. If you buy it at that you will never get your money back.
     
  4. shinymetal

    shinymetal Well-Known Member

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    It wouldn't get to that price if people weren't paying that price. I can't see it not getting to at least previous high from this point. gold has just broken all time highs, and IMO silver is sure to follow to at least the highs and probably higher IMO

    The premiums are pretty high and spot's up but I've still been buying some coins, only as a gift for a baby that will be born later this year. Trying to get as many world silver coins as I can for him.
    For my own personal stack, I've been going for anything that I can pick up cheaply. I've found a few good deals. picked up some scrap for $24.5 an oz when spot was pushing past $30.. So there is affordable silver out there to be had.. You've just gotta look :p
     
  5. PatKnowall

    PatKnowall New Member

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    Yeh i might have to keep looking around hey.

     
  6. leo25

    leo25 Well-Known Member Silver Stacker

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    Current premiums for 1oz coins makes no sense to me. $10 above spot for a generic coin is crazy! Save your money and buy bars or wait until premiums for coins fall back to about $4 above spot.
     
  7. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    ^ even bars are nuts premiums though 10 ozers with $60+ premiums?
     
  8. PatKnowall

    PatKnowall New Member

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    Yeh I'm definitely going to wait hey. I feel like the silver price will fall pretty soon because the only people stupid enough to buy silver atm are new comers or people just falling for the $100 a oz hype.
     
  9. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    This is exactly why you should be buying gold right now ;) premiums are a LOT more acceptable than silver right now, and a lot less volatile!
     
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  10. shinymetal

    shinymetal Well-Known Member

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    The premiums may come down, they may not, this might be the new normal, they might even rise higher.
    This video says wholesale premiums are going higher.

    I've also been buying a bit of unallocated recently. I've worked my way up to a KG, so when the dealer gets KG bars in I will get it barred. Last time they had KG's in the premiums were more reasonable.
    It was always a possibility that the spot and physical price would diverge. That could be what's happening.
    Dealers are selling for more, but it's also selling for more on here, so that sort of evens it out.
     
  11. PatKnowall

    PatKnowall New Member

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    yeh, I have been thinking of buying some gold because gold keeps slowly going up atm and it's only getting more scarce isn't it. I just can't believe what they are charging for silver atm. i had one dealer say to me its still cheap when he was selling 1 coin for $48 i was shocked.
     
  12. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    As a silver stacker I like $48 for a 1once silver coin. I'm not crying that's for sure. I will be happier when it blows through the $100 per once if I'm still alive :cool:
     
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  13. PatKnowall

    PatKnowall New Member

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    You actually like paying $48 for a 1oz coin. You have to be the only silver stacker I know who has said this out of like 40 people who I have spoken to. But I guess each to their own.
     
  14. Jason1

    Jason1 Well-Known Member

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    I wouldnt pay those premiums.
    Sure fire way to lose money
     
  15. PatKnowall

    PatKnowall New Member

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    Yeh, how is silver an investment once your paying $40-48 for a 1oz coin. It's crazy. You would have to wait for 10-15yrs to see a return on it. I think once all the hype dies down it will be back to $26 a ounce hopefully.
     
  16. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    I didn't say I was paying $48 per ounce. As a long term stacker I like the price where it is
     
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  17. alor

    alor Well-Known Member Silver Stacker

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    if you pick kangaroos, two downsides there is no collectible value, just metal..this is over paying the metal.
    and for boxes that flow through dealers, the value preservation premiums is not there

    unlike vintage items that preserved the premium better

    1kg Pamp = 1kg PM bar = same price
    its like paying for the ASE price and getting a Koala coin, depending on locations too

    like saying we never got to see the $!8 silver again, but it went to $12 (spot)

    as long as it can move, people would buy them, rightly or wrongly then cry later
     
  18. Boyscout

    Boyscout Well-Known Member Silver Stacker

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    And alot higher:), but those that are just starting out and have limited ounces than obviously you would want to buy more ounces and add to your stack as cheaply as you could
     
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  19. alor

    alor Well-Known Member Silver Stacker

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    for some people, keeping the silver shots are ok, since they can poured it to bars etc
    the ability to move the ounces without having to discount it heavily is one major concern

    Platinum at $888 on my 8,888 message
     
  20. Boyscout

    Boyscout Well-Known Member Silver Stacker

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    I am happy with spot going in either direction

    If it goes up enough i can pay of the blasted mortgage.

    If it drops then i can buy in the dip and add ounces so that when it goes up again i can hopefully be closer to been able to pay off the blasted mortgage

    Then start the stacking game all over again:)
     

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