Silver Coins - why are eagles marked up so much?
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Silver Coins - why are eagles marked up so much?
I'm looking at buying a small batch of silver coins. Looking around I noticed that the 1oz Silver eagles are significantly more expensive ($36) than the others ($30) with the spot price currently at (edit) $23.
What's so special about Silver eagles?
What's so special about Silver eagles?
Last edited by joypog on Mon May 02, 2022 9:43 am, edited 1 time in total.
1/n weirdo. US-TSM, US-SCV, Intl-SCV, LTT, STT, GLD (+ a little in MF)
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Re: Silver Coins - why are eagles marked up so much?
I'm curious where you're getting a spot price of $28. Kitco shows low 22 dollar range
Re: Silver Coins - why are eagles marked up so much?
uhh my brain is wrong.
I saw 22.72 and transposed it to 27.72....and then rounded up. Oops.
I saw 22.72 and transposed it to 27.72....and then rounded up. Oops.
1/n weirdo. US-TSM, US-SCV, Intl-SCV, LTT, STT, GLD (+ a little in MF)
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Re: Silver Coins - why are eagles marked up so much?
I have heard recently that it is specifically a shortage of silver eagles being produced.
The dealers get their allotment from the Treasury and then have to go to open market if that doesn't cover demand. The open market will only sell at higher premiums. This causes the average premium to be higher at retail.
So supposedly if you want a thousand ounce bar there is plenty of supply and it really is just a silver eagle issue.
The dealers get their allotment from the Treasury and then have to go to open market if that doesn't cover demand. The open market will only sell at higher premiums. This causes the average premium to be higher at retail.
So supposedly if you want a thousand ounce bar there is plenty of supply and it really is just a silver eagle issue.
Re: Silver Coins - why are eagles marked up so much?
Interseting. So in a "normal" year an american eagle wouldn't be significantly more expensive than something like a kruggerand?
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Re: Silver Coins - why are eagles marked up so much?
As far as I know, US govt minted coins have always been available at the highest premium over spot.
I think krugerrands have always been available at the lowest premium, for a government minted coin.
Personally, I would not pay any premium for a government minted silver coin. 1 oz, 10 oz, 100 oz bars are readily recognizable by pawn shops / coin dealers.
I think krugerrands have always been available at the lowest premium, for a government minted coin.
Personally, I would not pay any premium for a government minted silver coin. 1 oz, 10 oz, 100 oz bars are readily recognizable by pawn shops / coin dealers.
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Re: Silver Coins - why are eagles marked up so much?
In my opinion, all you're doing is paying useless seigniorage to get a US government stamp.
Re: Silver Coins - why are eagles marked up so much?
Makes sense. Thanks for your responses today. Cheers!
1/n weirdo. US-TSM, US-SCV, Intl-SCV, LTT, STT, GLD (+ a little in MF)
Re: Silver Coins - why are eagles marked up so much?
Eagles are in the greatest demand and I believe easier to sell back to a coin shop. I like Maple Leafs and Brittanias as well. Be a little careful with bigger bars. They are easier supposedly easier counterfeit and a coin shop may want to drill into the bar to check it (maybe a 100 oz bar). I also have a few kilo bars when I was trying to save on premium.