I was looking through some sales threads from March 2017 and saw kilo bars selling for 760 AUD which made me wonder what the spot price was in 2017....spot for March 2017 was around 17.60USD. Today, with spot at 15.50USD, kilo bars are selling for $900 AUD. MARCH 2017 - Spot $17.60 USD - Silver kilo bars selling here for $760 AUD. MAY 2020 - Spot $15.50 USD - Silver kilo bars selling here for $900 AUD. Its a funny thing this silver investing..
The chance to buy low premium physical silver is practically over. With shutdowns and lock downs, I don't see a situation in which prices can drop back to even last year's price.
You can buy 2 oz silver right now for USD 36.29 or AUD 56.39 that's AUD 28.20 per ounce; spot is at 23.96 AUD Premium $4.24 AUD
Silver Prices - 2 years apart. Well lets go a bit further than 2 years. Some on the forum have been generalizing that silver is silver and that the price has been going sideways; maybe the spot price but certainly not some of the coins. Take for example the Perth Mint 2017 Australian Swan Silver 1oz Bullion Coin. You'd be lucky to buy the coin for $100AUD, Bullion List is selling them for as low as $114.18, single coins more. The original price on day of release 05 April 2017 was about $36AUD. Edit Added Swan (Thanks guys for picking up the anomaly). 2017 Australian Swan Silver 1oz Bullion Coin
I've given this a lot of thought. The investment grade Bullion market is estimated @ approx. 200 million Oz's per year. Or 20% of annual supply. Industrial demand gobbles up 50% of annual supply, typically. I would expect to see a decrease in industrial demand for the year 2020, but also a decrease in annual supply from both mining and refining. Now, back to investment grade silver. What would be the capacity of each mint and refinery to produce investment grade Bullion globally per annum? We know that typical market demand is approx. 200 million Oz's, but at what point is capacity exceeded? We currently have an investment grade Bullion shortage - or at the very least, demand has exceeded the ability to supply in the short term. In this environment, we see a lowering of the spot price and higher premiums for physical. If mine supply and output pick up to pre-crisis levels, but industrial demand drops off further or stagnates, we could very well see a much lower spot price in tandem with a much higher premium for physical. It is also possible that the free market begins to break away from the Spot price for investment grade Bullion and a new price metric is established. I don't think this is likely to happen, but clearly anything is possible.
Sorry, there were quite a few Perth Mint 2017 1oz Bullion Coins minted, which specifically are you referring to Holdfast.
Ahh I presume you mean the lovely Swans. The wiley old perth mint releasing a new BU series with a 25,000 coin mintage. Not exactly a bullion coin now is it
I see industrial demand recovering quicker than silver supply. Especially, the demand from solar panel, which appears to be very resilient in face of the pandemic. But in the short term, if the stock market collapses, it will pull down spot silver and if you are able to get hold of cheap bullion, it will be a bonus. But for me, I'm not optimistic as the local market is controlled by dealers. I might be getting some more SLV though.
Cheers, sorry about leaving out the most important part. Perth Mint 2017 Australian Swan Silver 1oz Bullion Coin
It's those wiley coins that makes and breaks the heart. *2013 Australian Koala 1oz Silver Bullion Coin with Chinese Privy (good prices) *2008 Australian Lunar Year of the Mouse 2oz Silver Bullion Coin series two - 2 oz, 5 oz coins. (good prices) Kilo coin is doing well as is the Ox Just now there's been a bit of debate regarding the Perth Mint, 2020 Australian Kookaburra Mother & Baby 10oz Silver Bullion Piedfort Coin - mintage 2,500. (who knows how they'll do)
March was a drop then a rise in 2017. march 8th was $22.41 AUD then march 29 was $24.03 AUD, so spot very similar in price to this year. and yes you could have bought silver a hell of allot cheaper then than you can now. the premiums are stupid right now, there is a shortage, but its a Crap time to buy, good time tobe selling to those who are silly enough to pay the money being paid for it lol. Will need to raise a bloody lot for some one to cover $31+ an ounce for low premium shit lol You could get buy backs cheaper when silver was $28 an ounce lol,
So, your not buying Jason? Just not coins; are you waiting for everything to return to normal and then buy when the arse drops out of premiums and supply returns to normal. When would that be?
