While the POS falls, junk silver prices surge in the US

M

minimilled

Active Member
Just had a look at APMEX - it’s not just TP and SPAM people are hoarding
It looks like physical silver coins are on the list

APMEX also has a banner saying “due to extreme order volume shipping will take three days

Now with a POS of 14USD, the prices have interestingly increased rather than fallen

Only days ago peace dollars were about 10% lower, when the POS was 17 USD
https://www.apmex.com/search?q=Peace dollar

$100 face value bags of silver are priced about $200 USD more that a few days ago

Morgan 1921s were under 25USD and now 28.

ASE monster boxes are almost cleaned out - these were available in numerous years only days ago
https://www.apmex.com/search?q=2020 500-Coin Silver American Eagle Monster Box (Sealed)

”
 
So should people be happy that POS is falling or sad that they would have a difficult time procuring it?

Asked on the flip side, should people be sad that POS is falling or happy that they were able to procure it despite falling POS?
 
Provident Metals is sold out of many one ounce rounds, and 90%, and has raised their minimum order to $299
Curious to see what is available at the LCS tomorrow.
 
Why would anyone pay a premium for this stuff? It's ridiculous. Must be the doomsday preppers.
Anyone sensible will just buy the regular low premium bars or unallocated.
 
due to high demand for physicals buy also the weekend mark up price for Monday re-open

it was falling all the way up to just before market close, this won't allow the hedge by bullion dealer, hence they jack up the premium

it was just a spot spike down
 
dccpa said:
Some of you are looking for love in all the wrong places. Gainesville coins has ASE for $17.73 in quantity. https://www.apmex.com/category/22111/american-silver-eagles

Apmex often prices based upon how much they have in stock. If you want to know what they really think silver is worth, try selling those same mint boxes to them.
Click to expand...

That’s it.

Gainesville has the ASE monster box at 8865 vs APMEX at 9415, a difference of 550 USD. No brainer.

Also seems to have a lot of boxes. (Vs APMEX with 74x year2020).

Their 90% is in order of 1/3 cheaper. I expect you’ll mostly get dimes, maybe Kennedy halves.

Peace dollars not to be found in Gainsville other than cull or slightly better than that.
 
I noticed this today as well. All draler premiums jacked up. Paladium is 1000 over spot for an ounce from abc. Kjc pulled all their pd from sale.
 
Article submitted by BullionStar on ZH
https://www.zerohedge.com/commodities/price-physical-gold-decouples-paper-gold

Gold & Silver Shortages – Supply Squeeze

“The enormous increase in demand is straining our supply chains. BullionStar has supplier relations with most of the major refineries, mints and wholesalers around the world. Most of our suppliers don’t have any stock of precious metals and are not taking orders currently. The U.S. Mint for example announced just this Thursday that American Silver Eagle coins are sold out. The large wholesalers in the U.S. are completely sold out of ALL gold and ALL silver and are not able to replenish.”
...
“The current supply squeeze and physical bullion shortage has caused and is causing an increase in price premiums. It’s currently difficult and expensive for us to acquire any inventory. We have therefore had to increase premiums on products to compensate for the constraints“

While I think the number one reason to put up prices for PMs is because the market might bear it, it is still interesting. BullionStar talked about doing nearly 5x the trade in their Singapore store they usually would this time of year. Sgbuyer & alor may be able to tell us more.
 
silverhair said:
I noticed this today as well. All draler premiums jacked up. Paladium is 1000 over spot for an ounce from abc. Kjc pulled all their pd from sale.
Click to expand...
its spot price spikes down, so they mark it to before the drop
Monday would be back as usual again
so the only way to avoid is to buy when the markets are open, lock in the price, then pay up and collect stuffs
avoid long qqqqqq at the stores
 
Jmbullion now has a $299 minimum order. No more buying one silver round.
Expect an extra 5 to 10 days for delivery.
Their biggest selling day ever was yesterday.
I also noticed the premium increases on junk.
The same bag I bought at 14.88 was 1170 a few months ago during the last dip. Now it's over 1400?
 
minimilled said:
While I think the number one reason to put up prices for PMs is because the market might bear it, it is still interesting. BullionStar talked about doing nearly 5x the trade in their Singapore store they usually would this time of year. Sgbuyer & alor may be able to tell us more.
Click to expand...

I've been monitoring BS kilobar sales. It was the highest just after Chinese New Year and in the first 2 weeks of Feb. After that, gold kilobar sales slowed as the price of gold rose over $1600 while the sale of 100g gold bars and silver kilobars picked up. The sale of silver kilobar picked up as silver plunged. People just kept buying more and more. I estimate thousands of silver kilobars were sold within weeks.
 
Aaaaand it’s gone!

Gainesville has no monster boxes of ASEs - next shipping date 29 MAY 2020! And the price? “As low as $9875” (USD). Before NY opening it was as low as 7700!
https://www.gainesvillecoins.com/category/43/american-silver-eagles
So, there may well be a disconnect for physical silver going ahead. All junk now listed as out of stock. This was at rock bottom prices about 20 minutes prior to NY opening on Kitco.
https://www.gainesvillecoins.com/category/407/90-percent-silver-coins

APMEX $100 face bags are $1580 USD (this one on Gainesville last night was well under 1k)
https://www.apmex.com/category/2582...lars-silver-dollars/all?vt=g&sortby=pricedesc

Monster Box ASEs at APMEX a whopping $10555 USD
https://www.apmex.com/search?q=Monster box
 
BGASC completely sold out of gold and silver.
Others dealers to follow?
Jmbullion $299 minimum order.
Money Metals has a $5000 maximium.
Others are dealing with things similar and some shipping delays across the board.
 
ASE Monster box is now cleaned out at APMEX except at the price of an eye popping $12,150 USD!

The only other monster box is *pre-sale*, Krugerrands at 8900.

Everything else is “Alert Me” :eek:
 
minimilled said:
Aaaaand it’s gone!

Gainesville has no monster boxes of ASEs - next shipping date 29 MAY 2020! And the price? “As low as $9875” (USD). Before NY opening it was as low as 7700!
https://www.gainesvillecoins.com/category/43/american-silver-eagles
So, there may well be a disconnect for physical silver going ahead. All junk now listed as out of stock. This was at rock bottom prices about 20 minutes prior to NY opening on Kitco.
https://www.gainesvillecoins.com/category/407/90-percent-silver-coins

APMEX $100 face bags are $1580 USD (this one on Gainesville last night was well under 1k)
https://www.apmex.com/category/2582...lars-silver-dollars/all?vt=g&sortby=pricedesc

Monster Box ASEs at APMEX a whopping $10555 USD
https://www.apmex.com/search?q=Monster box
Click to expand...


It won’t be long before a billionaire puts up an advert offering to buy 100 million ounces of kilo and 100oz bars at $15 an ounce delivered.

I’m just wondering if silver spikes $8 in a day, how much money will shorts on margin lose?
 
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