View Full Version : What is a fair premium to pay over spot?

Da Flyin Lion
31st March 2008, 19:45
Hi Guys,
I'm another newbie to the world of silver. I've been reading the threads for the last few weeks and I've been getting a lot of great information.

I've recently been purchasing silver bullion in small quantities and I'm wondering if you can comment on the premiums I've been paying over spot.

Over easter weekend I paid 1.20 over spot for a JM 10 oz. bar. That's when silver just dropped from 20.xx down to 16.75.

This last weekend I went to a coin show in the Detroit metro area and found the following deals when silver was @ 17.88.
7 Silver Eagles for $20 each (one of them was a '96)
2 Mapleleafs for $19 each
2 Prospectors for 18.50 each.

I also got 5 circulated (but still in pretty good shape) Morgan's at the local coin shop for $15 each over the weekend. Two of them were from the 1880's but the other 3 were from 1921.

I think I did pretty good on everything except maybe the 10oz bar. Although Silver had just dropped nearly $4 in the previous few days.

I've also been finding 90% half dollars on Ebay for right around spot price. I've picked up 20 or so for right around $6.50 each including shipping.

The one ounce coins seem to be cheaper to buy at my coin shop then anywhere on the internet or ebay, but I think ebay's got the best prices for the circulated junk silver.

31st March 2008, 20:11
i think you did good all across the board...keep up the good work...smart man you are

31st March 2008, 20:28
Would like to echo....echo....echo
SilverTrees' sentiments....iments....iments
You done good, kid!

i think you did good all across the board...keep up the good work...smart man you are

31st March 2008, 20:54
One guy wanted 19.00 for mapleleafs....spot was 17.25. I said sorry...no go. Another said 19.50 for rounds....nope! The last guy said 18.25 for anything...he had a mess of 1 ouncers....bars, american eagles, mapleleafs, sunshines, some novelty stuff. I thought that was fair. The rounds were a little high but the eagles were low. He had 40 pretty sunshines. Sunshines website had them about .20 higher with shipping. They are pretty.

I think the shops will start tightening their belt and say don't have anything. It will be interesting to see what the big suppliers do tommorrow, especially if the price keeps dropping.