silver info from the coin shop guy to you!
- Thread starter fltacoma
- Start date
So... Why did the premiums rise so dramatically? What pricing formula did you use to arrive at that neat round figure?
And Why will delivery be delayed by two weeks?
Most of the major sellers can deliver within a couple days of order, and don't charge anywhere near the ridiculous mark-up of $5.
Something about this doesn't seem right.
And Why will delivery be delayed by two weeks?
Most of the major sellers can deliver within a couple days of order, and don't charge anywhere near the ridiculous mark-up of $5.
Something about this doesn't seem right.
Ouija said:
I agree. I just checked Apmex and Provident and unless your are buying a very small amount, prices are under 4.00. If someone is stating two weeks delivery it either means their shipping department is way behind with orders (very possible) or they are selling coins not in stock.
I'm also confused as to why a coin dealer would feel compelled to announce a price increase, rather than just do it.
It reminds me of the constant press releases, sent to local news media outllets, by Starbucks Coffee - in which they always announce that the price of coffee may be going up in the future... What's the point in announcing it (besides the fact that it gets their name mentioned in prime-time for free), there is nothing a consumer can do about it - so the announcement of a future price increase, serves only to plant the notion that "time is running out - act now, or you'll be sorry later!"
Hogwash - just give your business to the dealer who is not out to screw you on the premiums, and who actually has what he is selling, so you wont have to wait forever, wondering if it "got lost in the mail".
It reminds me of the constant press releases, sent to local news media outllets, by Starbucks Coffee - in which they always announce that the price of coffee may be going up in the future... What's the point in announcing it (besides the fact that it gets their name mentioned in prime-time for free), there is nothing a consumer can do about it - so the announcement of a future price increase, serves only to plant the notion that "time is running out - act now, or you'll be sorry later!"
Hogwash - just give your business to the dealer who is not out to screw you on the premiums, and who actually has what he is selling, so you wont have to wait forever, wondering if it "got lost in the mail".
I mostly stack ASEs. At $22 the premium was around $2.50. Since the fall, I've seen the premiums go up to $4.50. One place was $6. Premiums are going up because people will pay it. We're going to see shortages if this holds so if you're waiting for the rock bottom there might not be any shiney left at that point. Interesting times.
ryan71 said:
The last time silver was at $22, was September 2013. At that time, the Apmex buy premium was around $2.00. I know, because that is when I sold my ASEs. I just checked my records and I received $24.18/coin for a September 16, 2013 sale. The Apmex buy-sell premium spread is more than $.50. Unless there was a special being run, the sell premium would have been closer to $2.99. Now the Apmex sell premium is $3.10 for quantity purchases. I don't follow ASEs closely, but I am not seeing the big price increase everyone else is.
If there was a silver shortage, dealer buy premiums would be rising to entice you to sell. Instead buy premium are declining and the Apmex ASE buy premium is down to $1.50. Apmex will take your coins, if you want to sell them badly enough. There is such an ASE shortage, that Apmex has at least 15000 in stock.
The silver shortage rumors are just bs, but the sellers don't mind taking advantage of buyers by widening their premium spreads. Now if you are talking 2010 1oz silver tigers, US dealer buy premiums have increased in the last few months. That tells me the tigers still have strong demand.
ryan71 said:
That is correct. Coin dealers can charge however much money they want to as long as there is a customer base. Usually we charge within reason and do not gouge the people simply because we have repeat customers, and they are willing to pay more because they do not want to wait to receive their product or god forbid they loose their package in the mail from those "other online guys".
fltacoma said:
None of the dealers I follow and that is the major ones, have a $2500 minimum. Gainesville is the only I know of that even has a minimum and that is $2000. The average Joe is smart enough to figure out that he can order from other places and pay by check. Just tell us the name of your business so that the average Joe can avoid a shop with higher prices.
dccpa said:
Are you saying that the shop that I work at charge higher prices to the average joe? Of course we cut them a price discount for a roll, and for a monster box. In fact, I sold 5,000 ounces to an individual on saturday. So if you think that we charge higher prices to the average person, then why would they shop with us, and why not a major online distributer lol.
fltacoma said:
You started a thread posting important information, that is not accurate. It is that simple. I don't care what your shop charges, but by your own admission, it is higher than what we can buy coins at other places. Why would anyone shop with a dealer that charges higher prices than they can get elsewhere? That is a rhetorical question. My last post in this thread as you are just wasting time.