Coin Premiums Dropping Fast
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Coin Premiums Dropping Fast
You'd think with the recent rise in gold, coin premiums might be up. However, the opposite seems to be happening. I guess it's just supply and demand. For some reason people have stopped buying coins and inventories are bulging so coin sellers are dumping.
Last week I bought some 1 oz Kangeroos at spot from Gainesville coin. Today I see Provident has Krugerrands at spot. Premiums seem to dropping everywhere I look.
If you haven't bought coins before, now looks like a great time to buy.
-FarmerD
Last week I bought some 1 oz Kangeroos at spot from Gainesville coin. Today I see Provident has Krugerrands at spot. Premiums seem to dropping everywhere I look.
If you haven't bought coins before, now looks like a great time to buy.
-FarmerD
Re: Coin Premiums Dropping Fast
I think the low fee ETF's are finally starting to take a chunk out of coin sellers pockets, and they are finally having to adjust their spreads to compete. Competition is such a wonderful thing!
Re: Coin Premiums Dropping Fast
It is. A local dealer has an RCM 100 oz silver bar, $1 over spot. That's pretty low for silver. I'm only going to buy one ever, just to have the experience. I'll put it out on my coffee table. But silver needs to go to $15 first.
Re: Coin Premiums Dropping Fast
Oh man. When it comes to gold I have a huge weakness for buying and stowing MapleGrams in my wallet. Kind of addicted, but the spreads on those, even today, are pretty bad!
MB
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Re: Coin Premiums Dropping Fast
I've always thought the premiums from coin sellers were inversely related to price changes. Maybe it's my imagination, because I don't buy all that often. As a percentage, I've usually paid about a 4% premium. Of course, now that prices are on the rise, I worry about that instead of the premium.
Added: I often bought "BU" coins from Apmex in the past, and I don't think coins have to be Brilliant Uncirculated to be bullion- correct me if I'm wrong. So there can be a premium there.
Added: I often bought "BU" coins from Apmex in the past, and I don't think coins have to be Brilliant Uncirculated to be bullion- correct me if I'm wrong. So there can be a premium there.
Re: Coin Premiums Dropping Fast
I'm not sure what the official definition of "Premium" is but I always think of it as the difference between what I could sell my coins for vs what I would have to pay to buy them back. Right now the difference is around $45 on AJPM where I get my prices. I think it may have been higher when I bought some of my coins years ago but it doesn't seem that low to me right now.
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Re: Coin Premiums Dropping Fast
Maybe we should say the spread, like Libertarian666 does. Of course, we don’t know what the sell-spread will be when we buy.
I guess “premium” has traditionally been used on this forum for American eagles vs krugerrands: pay more when you buy, get more back when you sell.
Re: Coin Premiums Dropping Fast
I usually only hold physical bullion in the "deep" portion of my gold allocation. That way I minimize my exposure to the spreads as much as possible.
And let's face it, selling off those nice looking coins is always kind of sad.
And let's face it, selling off those nice looking coins is always kind of sad.
MB
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Re: Coin Premiums Dropping Fast
Indeed. I’ve never done it.
Re: Coin Premiums Dropping Fast
US Coin in Houston just sold me a 100 oz Royal Canadian silver bar for 5% over spot. It's dense!
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Re: Coin Premiums Dropping Fast
Yes, for any newbies reading this: 1oz gold bullion coins are the way to go if you’re going to buy physical. It’s simply a better deal than fractional coins.
Save those Golden Grahams for the cereal bowl!
Re: Coin Premiums Dropping Fast
What I'd really like to buy and stow in my wallet is this bad boy:
https://www.sprottmoney.com/valcambi-co ... tIQAvD_BwE
MB
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Re: Coin Premiums Dropping Fast
I’ve seen that. I keep imagining you peel it and there’s chocolate inside!
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Re: Coin Premiums Dropping Fast
I'm thinking about buying some silver so I don't feel like an impostor singing that Silver And Gold song from the Rudolph claymation.
You there, Ephialtes. May you live forever.
Re: Coin Premiums Dropping Fast
While we're sharing our precious metals holdings. Here are some of the MapleGrams I keep in my wallet daily. Just in case, you know, hyperinflation hits while I'm out grabbing coffee.
MB
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Re: Coin Premiums Dropping Fast
Wow, you guys have nice tables! If you could just brush that metal clutter out of the way...
Re: Coin Premiums Dropping Fast
It's times like this that I wonder to myself, "What would Budd's opinion be?". I kind of miss the contrarian and dissenting voice around here.
MB
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Re: Coin Premiums Dropping Fast
Budd can go take a leap. My portfolio peaked out late September 2018, then we had that big stock correction, I got stopped-out by the end of December, and went back in with a light 25% stock allocation thereafter, if you recall that whole episode. As of yesterday, my portfolio had totally recovered back to new All Time Highs... due mainly to bonds and gold.
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Re: Coin Premiums Dropping Fast
I have one of those. I don’t carry it around with me though. I just thought it was cool, and it is.Smith1776 wrote: ↑Thu Jun 27, 2019 4:50 pmWhat I'd really like to buy and stow in my wallet is this bad boy:
https://www.sprottmoney.com/valcambi-co ... tIQAvD_BwE
Re: Coin Premiums Dropping Fast
The MapleGrams remind me of the sad, sad story of Olympic figure skater Debi Thomas and karat bars...
Re: Coin Premiums Dropping Fast
Well, I regret to inform you that I am not an olympian.ochotona wrote: ↑Fri Jun 28, 2019 9:23 pm
The MapleGrams remind me of the sad, sad story of Olympic figure skater Debi Thomas and karat bars...
Joking aside, that’s really an amazing story. I’ve never heard of her till now.
MB
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Re: Coin Premiums Dropping Fast
Yes, mental illness is very sad in many cases.Smith1776 wrote: ↑Fri Jun 28, 2019 9:38 pmWell, I regret to inform you that I am not an olympian.ochotona wrote: ↑Fri Jun 28, 2019 9:23 pm
The MapleGrams remind me of the sad, sad story of Olympic figure skater Debi Thomas and karat bars...
Joking aside, that’s really an amazing story. I’ve never heard of her till now.