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Thread: Online retailers taking advantage of premiums

  1. #1

    Default Online retailers taking advantage of premiums

    Seeing bullion that was priced 3$ over spot pre-pandemic and now at 15$ over is ridiculous. The supply chain issues are exaggerated to the point of being obvious, unless of course you are a newbie without knowledge of typical bullion pricing. I for one am not buying at these prices, the greed is sickening.

  2. #2

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    What you are experiencing is the disconnect between the physical and paper prices. The online dealers are paying more for product up front. Not sure where you get your info. Do you realize this is the exact same argument/complaint that was made a year ago when spot was $15 and Eagles where going for over $20? How did that work out?
    Last edited by ifionlyhadsomegold; 05-05-2021 at 06:29 PM.

  3. #3

    Default

    Have not experienced retailers offering 12$ over for their buy prices, which would to me signify a disconnect(15$-3$=12$). Again, a manufactured disconnect. Please prove me wrong.

  4. #4
    Join Date
    Mar 2013
    Posts
    9

    Default

    The price for physical silver no longer coincides with the spot price. If you notice the spot price continues to fluctuate but physical is staying relatively the same. Itís a total disconnect for now.


    Sent from my iPad using Tapatalk

  5. #5

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    Quote Originally Posted by and4rik View Post
    Seeing bullion that was priced 3$ over spot pre-pandemic and now at 15$ over is ridiculous. The supply chain issues are exaggerated to the point of being obvious, unless of course you are a newbie without knowledge of typical bullion pricing. I for one am not buying at these prices, the greed is sickening.
    I'm curious where you are seeing $15 over spot for silver. Looking at Kitco, individual random year ASEs are going for spot + $10, with leafs & rounds priced lower than that.
    https://online.kitco.com/silver-coins

  6. #6

    Default

    Quote Originally Posted by and4rik View Post
    Have not experienced retailers offering 12$ over for their buy prices, which would to me signify a disconnect(15$-3$=12$). Again, a manufactured disconnect. Please prove me wrong.
    there're definitely a 'don't let a crises go to waste' going on now.
    I saw an a top tier online dealer selling 1921 morgan VG+ for $36.92 each, buyback is 20.52, a huge 80% premium on common low grade morgan.

  7. #7

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    Obviously lowball buyback prices are not across the board, or is it the sell price is way too high? Anyways, perfect example being a 2021 silver perth dragon, 39.60, no buyback listed, however pre pandemic sell spot +2.50. The mint currently sells at 35$ and buys at 25$. So this retailer is charging an extra 4$. Still, no reason for the mint to charge 10$ over "post pandemic"
    - manufactured disconnect, scam
    A tru disconnect would indicate buy sell spreads of 3$ similar to prepandemic numbers. Spot + 3$ and spot buy back prices if I remember correctly.
    Last edited by and4rik; 05-05-2021 at 07:48 PM.

  8. #8

    Default

    I never said the buyback pricing is correct. Why would you buy now and sell back now anyway? Seems rather odd considering there are currently over 90% buyers. They are paying the inflated buy premiums from their suppliers even if they are not buying from you for that price. You seem to be under the assumption they are going to operate on a small spread between the sell and buyback prices. That's not why they are in the game. I have never had a dealer pay me what they pay there distributors for product. YMMV!
    Last edited by ifionlyhadsomegold; 05-05-2021 at 08:31 PM.

  9. #9

    Default

    Worth noting that I am not selling here as well. Point is there is no disconnect. If there were,the buy sell spread would be the same as pre oandemic levels, even though a much inflated dollar amount. Call it something else but disconnect it is not.

  10. #10

    Default

    I was just checking, the cheapest are 1000 ounce comex bars, 29.03 oz.

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