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slvr
4th December 2009, 18:43
high on Gold Buffalos and Gold Eagles... they are asking $99 over spot where others are $59 over ???

Any idea? They are usually the cheapest

SONOFASILVER
4th December 2009, 18:53
This week, the U.S. Mint did not release any 2009 Gold American Eagles or 2009 Silver American Eagles, and the 2009 Fractional Gold American Eagles as well as the 2009 Gold Buffalo Coins are in very limited supply and will likely sell out within days.

As a preferred APMEX customer, we want you to be the first to know about this breaking news so you don't miss your opportunity to purchase these high demand coins while we have them in stock. Our supply of these coins is extremely limited and there is no way for us to know when we may be able to secure these products again for the rest of the year. When our supply is gone, it's gone. Take advantage of the recent pullback in the market and secure yours today at www.APMEX.com.

*** Please note, if you have already purchased 2009 Fractional Gold American Eagle Coins from APMEX, be assured that these coins have already been allocated to you and will be delivered as promised. Our pre-orders will begin shipping on Friday, December 11th.

ryshay
4th December 2009, 18:56
high on Gold Buffalos and Gold Eagles... they are asking $99 over spot where others are $59 over ???

Any idea? They are usually the cheapest

(reposted from another thread)

Well, the PM dealers sure seem to think this correction in PMs is only temporary. The kitco boards are b!tch!ng about APMEX actually raising their premiums as PM spot prices fell.

AGEs are $100 over spot!
The bid price is $40 over spot! (to sell AGEs back to APMEX).

ASEs are $3.99 over spot!
The bid price is $1.99 over spot!

To me, this means that PM dealers know that American Eagles are scarce, and won't part with them for close the COMEX spot price. This seems like bad news, but maybe it means that PMs will bounce back soon.

PM dealers have long experience with adjusting their premiums so they don't fall for COMEX's spot price trickery.
Maybe if the spot PM price persists lower, then the PM dealers will lower the premiums on their AE's. But maybe, they smell something fishy with COMEX's action today, and they don't want to get burned by selling their best coins for artificially low prices.

And Bullion Direct's AGE's are $70 over spot, and ASE's are $3.00 over spot! Better, but still inflated premiums compared to yesterday.
Yup, the PMs are hoping this little correction will be over by next week.

slvr
4th December 2009, 19:10
(reposted from another thread)

Well, the PM dealers sure seem to think this correction in PMs is only temporary. The kitco boards are b!tch!ng about APMEX actually raising their premiums as PM spot prices fell.

AGEs are $100 over spot!
The bid price is $40 over spot! (to sell AGEs back to APMEX).

ASEs are $3.99 over spot!
The bid price is $1.99 over spot!

To me, this means that PM dealers know that American Eagles are scarce, and won't part with them for close the COMEX spot price. This seems like bad news, but maybe it means that PMs will bounce back soon.

PM dealers have long experience with adjusting their premiums so they don't fall for COMEX's spot price trickery.
Maybe if the spot PM price persists lower, then the PM dealers will lower the premiums on their AE's. But maybe, they smell something fishy with COMEX's action today, and they don't want to get burned by selling their best coins for artificially low prices.

And Bullion Direct's AGE's are $70 over spot, and ASE's are $3.00 over spot! Better, but still inflated premiums compared to yesterday.
Yup, the PMs are hoping this little correction will be over by next week.
How can Tulving and NWT be only $59 over spot. Is is because Apmex has it in stock and ready to ship and the others will make you wait 8 weeks? And possibly not fulfill the order?

ryshay
4th December 2009, 19:14
How can Tulving and NWT be only $59 over spot. Is is because Ampex has it in stock and ready to ship and the others will make you wait 8 weeks? And possibly not fulfill the order?

Not sure, but Tulving only deals with big orders--so maybe that is a factor in the lower premium per oz. The question is--what was their premium before today?

Maybe NWT disagrees with the other PM dealers and just wants to unload their AE's. If they bet wrong, they will be out of AE's and miss out on a resumption of the bull trend in PMs. They should call Barrick and ask how that worked out for them!

slvr
4th December 2009, 19:31
Not sure, but Tulving only deals with big orders--so maybe that is a factor in the lower premium per oz. The question is--what was their premium before today?

Maybe NWT disagrees with the other PM dealers and just wants to unload their AE's. If they bet wrong, they will be out of AE's and miss out on a resumption of the bull trend in PMs. They should call Barrick and ask how that worked out for them!
Ok, So on APMEX the Maples are $59 over spot...... and aren't they usually about the same premium compared to Buffs? If so, then why would anyone order the $99 Buffs over the $59 Maples?

Is it a risk/reward thing.. like if they stop issuing Buffs, then the premiums skyrocket? Are Buffalos preferred over Maples in any way?

Ringramjr1
4th December 2009, 19:42
You can get the 1 oz Pamp Suisse 24k bars for about $24 over spot at Gainesville Coins.

TheLoneRanger
4th December 2009, 19:50
Folks premiums are going to be going up.. get used to it.. the good news is that a little farther down the road after premiums have been up a while the buy back prices will be going up as well.

Dealers can charge any premium they want.. spot is for paper silver and paper gold .. real silver and gold go for whatever the market will bear....

slvr? if you found the coin you want for $59 over spot why do you care what another dealer is charging? just buy where you like the price

ryshay
4th December 2009, 19:53
high on Gold Buffalos and Gold Eagles... they are asking $99 over spot where others are $59 over ???

Any idea? They are usually the cheapest

Oh, here's an idea why APMEX charges more for their AE's over Bullion Direct.

I've bought from Apmex before.

They sent all their customers this email, obviously hoping we will all rush and buy their expensive AE's! I've seen quite a few "scare" emails from APMEX lately...I hope they are not trying to exploit PM-investors' natural sense of caution....


This week, the U.S. Mint did not release any 2009 Gold American Eagles (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60rFBczQmmyVo7xcNuSPivHk0P93fGoI_ZwGc Xv6QAbbm1QJwPnIVZSnoGfKt1mKtbRsIEhKBJsfXkdt0oCRKq1 uaggBHks2HkBu-LRSwdhPsSheilGjlXis1Xx92p6hpAOzek2KkB7jG68vpvPNwqD D9mwOxdm9en6f9Cic_cSxmp8HJP-sQPmH-LBe_KMLUeU=) or 2009 Silver American Eagles (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60p4J6Ryz9bJwqJZNdWu6ongS-7zFx94j13kCc6ZY3LHqidkAUD_U2c_H_KZenWn0-g-rCm4iwMPWze-W2Y74fXbHeTog1sq1C9WigF8LjBP7jvaSLQUDJX_zVikItMJht _rkMolyvQcsO3xjueECKi0nbnWv-nNigyYWfYDBOID-XmKLYMxchuMfx8c3uI1hMjsrUiBeCK0w0DYp1MACNkZY6MgNeS hq8R4aksxoczVXC7FQvXDefiHWQw1Da7EBm-0i5FtNHpVEWLWcR2Ql4HlWU566ntI0jNCi3TtJGohDA==), and the 2009 Fractional Gold American Eagles (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60pfLTb8g6H0PZY6XGHYRGat3w8zVuTZQlozx-9bdaohJoyb6btlAZY7UUZt_3vOoJupMakqOhAnJZRy5-qLduEC-3WJu__ZGP7tHCrmpRi5HzbPw_owa0pgZSlGcIJDsdnVvi-BLy50kzwUkbRWoqZtKEiN-J44uc3KxmpS509vG23MP95X_kUc8xiNITD7AadEt730zyYcc96 yyiOssBUxELvwxL34s95kT2LIor52SHZ-q5m2NzSfH2Yv8U7PaDi_tBjivDXkTjYJekwWhTX1vI_JF9JtPK jWwNjJUl0GIEgE3b6RY6LNG1elQZOkYI8=) as well as the 2009 Gold Buffalo Coins (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60qrdYIn1PgIaW63RW1pI1qnS5KZXQOQKItxk KrFlI1lcl4oJ4C3ycdcwqjQ8VtGYc0MmP-w8YC5xLVJpRgSBXMvSZApm9GqNfL8oD_i8TS-fFVW2wi9e-ecFjejrxEk3R4kshz-yFLBNz1Kk8OdF00HzrqARrtpDorGr-V2rl6AaTivwFm8pv7N9s3UpEPEyd7e5kSSG_PL5etJXcaU1L4U jDFBqDcNXwWhK4gBHz-G8u9bHQAZ3YufSwh9zQ85fRiHMwcbg6yR65PPSP38T_o_Csykt cy3jZpvXhyt_K0a0Q==) are in very limited supply and will likely sell out within days.
As a preferred APMEX customer, we want you to be the first to know about this breaking news so you don't miss your opportunity to purchase these high demand coins while we have them in stock. Our supply of these coins is extremely limited and there is no way for us to know when we may be able to secure these products again for the rest of the year. When our supply is gone, it's gone. Take advantage of the recent pullback in the market and secure yours today at www.APMEX.com (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60ok5fc5H-ZE4XbBf2YkRNqL49SzjYMMGlThPQ3IN6gjNGi3k2FrwymjTzFN vp-2EnLO964lH0eYzbsHSplN_WrMCAEmkn5LMtE=).
*** Please note, if you have already purchased 2009 Fractional Gold American Eagle Coins (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60pfLTb8g6H0PZY6XGHYRGat3w8zVuTZQlozx-9bdaohJoyb6btlAZY7UUZt_3vOoJupMakqOhAnJZRy5-qLduEC-3WJu__ZGP7tHCrmpRi5HzbPw_owa0pgZSlGcIJDsdnVvi-BLy50kzwUkbRWoqZtKEiN-J44uc3KxmpS509vG23MP95X_kUc8xiNITD7AadEt730zyYcc96 yyiOssBUxELvwxL34s95kT2LIor52SHZ-q5m2NzSfH2Yv8U7PaDi_tBjivDXkTjYJekwWhTX1vI_JF9JtPK jWwNjJUl0GIEgE3b6RY6LNG1elQZOkYI8=) from APMEX, be assured that these coins have already been allocated to you and will be delivered as promised. Our pre-orders will begin shipping on Friday, December 11th.

TheLoneRanger
4th December 2009, 19:56
Ok, So on APMEX the Maples are $59 over spot...... and aren't they usually about the same premium compared to Buffs? If so, then why would anyone order the $99 Buffs over the $59 Maples?

Is it a risk/reward thing.. like if they stop issuing Buffs, then the premiums skyrocket? Are Buffalos preferred over Maples in any way?

Each type of gold or silver is it's own market and premiums fluctuate based on demand, popularity, and supply .. and whatever the sellers wants to charge... if you watch prices over on the nucleo the premiums often change on a day by day basis and differently for each type of coin or bullion.

slvr
4th December 2009, 19:57
Oh, here's an idea why APMEX charges more for their AE's over Bullion Direct.

I've bought from Apmex before.

They sent all their customers this email, obviously hoping we will all rush and buy their expensive AE's! I've seen quite a few "scare" emails from APMEX lately...I hope they are not trying to exploit PM-investors' natural sense of caution....


This week, the U.S. Mint did not release any 2009 Gold American Eagles (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60rFBczQmmyVo7xcNuSPivHk0P93fGoI_ZwGc Xv6QAbbm1QJwPnIVZSnoGfKt1mKtbRsIEhKBJsfXkdt0oCRKq1 uaggBHks2HkBu-LRSwdhPsSheilGjlXis1Xx92p6hpAOzek2KkB7jG68vpvPNwqD D9mwOxdm9en6f9Cic_cSxmp8HJP-sQPmH-LBe_KMLUeU=) or 2009 Silver American Eagles (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60p4J6Ryz9bJwqJZNdWu6ongS-7zFx94j13kCc6ZY3LHqidkAUD_U2c_H_KZenWn0-g-rCm4iwMPWze-W2Y74fXbHeTog1sq1C9WigF8LjBP7jvaSLQUDJX_zVikItMJht _rkMolyvQcsO3xjueECKi0nbnWv-nNigyYWfYDBOID-XmKLYMxchuMfx8c3uI1hMjsrUiBeCK0w0DYp1MACNkZY6MgNeS hq8R4aksxoczVXC7FQvXDefiHWQw1Da7EBm-0i5FtNHpVEWLWcR2Ql4HlWU566ntI0jNCi3TtJGohDA==), and the 2009 Fractional Gold American Eagles (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60pfLTb8g6H0PZY6XGHYRGat3w8zVuTZQlozx-9bdaohJoyb6btlAZY7UUZt_3vOoJupMakqOhAnJZRy5-qLduEC-3WJu__ZGP7tHCrmpRi5HzbPw_owa0pgZSlGcIJDsdnVvi-BLy50kzwUkbRWoqZtKEiN-J44uc3KxmpS509vG23MP95X_kUc8xiNITD7AadEt730zyYcc96 yyiOssBUxELvwxL34s95kT2LIor52SHZ-q5m2NzSfH2Yv8U7PaDi_tBjivDXkTjYJekwWhTX1vI_JF9JtPK jWwNjJUl0GIEgE3b6RY6LNG1elQZOkYI8=) as well as the 2009 Gold Buffalo Coins (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60qrdYIn1PgIaW63RW1pI1qnS5KZXQOQKItxk KrFlI1lcl4oJ4C3ycdcwqjQ8VtGYc0MmP-w8YC5xLVJpRgSBXMvSZApm9GqNfL8oD_i8TS-fFVW2wi9e-ecFjejrxEk3R4kshz-yFLBNz1Kk8OdF00HzrqARrtpDorGr-V2rl6AaTivwFm8pv7N9s3UpEPEyd7e5kSSG_PL5etJXcaU1L4U jDFBqDcNXwWhK4gBHz-G8u9bHQAZ3YufSwh9zQ85fRiHMwcbg6yR65PPSP38T_o_Csykt cy3jZpvXhyt_K0a0Q==) are in very limited supply and will likely sell out within days.
As a preferred APMEX customer, we want you to be the first to know about this breaking news so you don't miss your opportunity to purchase these high demand coins while we have them in stock. Our supply of these coins is extremely limited and there is no way for us to know when we may be able to secure these products again for the rest of the year. When our supply is gone, it's gone. Take advantage of the recent pullback in the market and secure yours today at www.APMEX.com (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60ok5fc5H-ZE4XbBf2YkRNqL49SzjYMMGlThPQ3IN6gjNGi3k2FrwymjTzFN vp-2EnLO964lH0eYzbsHSplN_WrMCAEmkn5LMtE=).
*** Please note, if you have already purchased 2009 Fractional Gold American Eagle Coins (http://rs6.net/tn.jsp?et=1102867090251&s=90568&e=001tJPbHlQh60pfLTb8g6H0PZY6XGHYRGat3w8zVuTZQlozx-9bdaohJoyb6btlAZY7UUZt_3vOoJupMakqOhAnJZRy5-qLduEC-3WJu__ZGP7tHCrmpRi5HzbPw_owa0pgZSlGcIJDsdnVvi-BLy50kzwUkbRWoqZtKEiN-J44uc3KxmpS509vG23MP95X_kUc8xiNITD7AadEt730zyYcc96 yyiOssBUxELvwxL34s95kT2LIor52SHZ-q5m2NzSfH2Yv8U7PaDi_tBjivDXkTjYJekwWhTX1vI_JF9JtPK jWwNjJUl0GIEgE3b6RY6LNG1elQZOkYI8=) from APMEX, be assured that these coins have already been allocated to you and will be delivered as promised. Our pre-orders will begin shipping on Friday, December 11th.
Ryshay .. what do you think about my previous question ....below.

Ok, So on APMEX the Maples are $59 over spot...... and aren't they usually about the same premium compared to Buffs? If so, then why would anyone order the $99 Buffs over the $59 Maples?

Is it a risk/reward thing.. like if they stop issuing Buffs, then the premiums skyrocket? Are Buffalos preferred over Maples in any way?

TheLoneRanger
4th December 2009, 20:04
ryshay???? you hope they don't use MARKETING... OMG why not? The more folks buy the higher the prices go... I thought t'all wanted prices to go up up up?? Hey.. i am all for the Madison Avenue approach.. well I draw the line if they start claiming silver cures hemroids.... because if they do we would have to move the thread down into SILVER HEALTH

Scare tactics scarcity come on that been a major pitch for PM's for years SHTF end of the world collapse of the dollar peak silver byproduct only inelastic supply 1/6th of an ounce per person on the planet what if everybody wanted silver panic in the gold pits going to the moon...

and APMEX's email seems tacky to you?? when you tell your friends to buy PM's... why do you say they should buy them?

My Pants Are Cold
4th December 2009, 20:05
high on Gold Buffalos and Gold Eagles... they are asking $99 over spot where others are $59 over ???

Any idea? They are usually the cheapest

It's a profit deal.

ryshay
4th December 2009, 20:13
Ryshay .. what do you think about my previous question ....below.

Ok, So on APMEX the Maples are $59 over spot...... and aren't they usually about the same premium compared to Buffs? If so, then why would anyone order the $99 Buffs over the $59 Maples?

Is it a risk/reward thing.. like if they stop issuing Buffs, then the premiums skyrocket? Are Buffalos preferred over Maples in any way?

Yes, AEs and MLs have usually the same premium.
But, the US Mint is not issuing AE's or Buff's anymore, apparently.
They will probably restart in January, but who knows? The USMint has not released the restart date yet.

Buffs and AEs are preferred over MLs by some in the USA, because they want bullion that is less likely to be confiscated, since they are made by the USGovt. Or, some people just can't bring themselves to buy a ML and have to stare at that old gargoyle every time they grope their precious. The walking/standing Liberty is pretty hot, IMHO. :)

Seriously tho, some Americans will pay a premium for USMint coins, which are less likely to be confiscated than foreign currency denominated bullion or generic rounds.
http://www.garynorth.com/public/268.cfm
(American Eagle coins are officially "numismatic").

I'm not so much worried about physical confiscation myself. That would be so...old school for the wiz kids in the USGovt today. I'm sure they will come up with much more sophisticated ways to screw us.

This is all IMHO--I am a silverbug, really, but I dabble a little in gold and palladium too, and miners...I love it all! :cool:

ryshay
4th December 2009, 20:26
ryshay???? you hope they don't use MARKETING... OMG why not? The more folks buy the higher the prices go... I thought t'all wanted prices to go up up up?? Hey.. i am all for the Madison Avenue approach.. well I draw the line if they start claiming silver cures hemroids.... because if they do we would have to move the thread down into SILVER HEALTH

Scare tactics scarcity come on that been a major pitch for PM's for years SHTF end of the world collapse of the dollar peak silver byproduct only inelastic supply 1/6th of an ounce per person on the planet what if everybody wanted silver panic in the gold pits going to the moon...

and APMEX's email seems tacky to you?? when you tell your friends to buy PM's... why do you say they should buy them?

You got a point.
I just don't like being prodded by anyone. I tend to go in the opposite direction of where I am being herded. (Hence my preference for silver).
Usually, when someone tries to appeal to my fear instead of my logic, I sense a snowjob coming on.
I don't tell my friends about PMs, lest they hit me up for money when gold/silver hit the moon, and they did not listen to me. I do talk to my family, and I just show them the dow/gold ratio, I show them the industrial uses for silver, how silver above-ground supplies have dwindled, how the money supply has gone parabolic recently, how China is telling its citizens to buy PMs, etc. Of course, this is a long-road, and my parents STILL won't buy PMs. They want to do it, but they just can't bring themselves to do it. I guess buying PMs is like trying to swim for the first time: absofreakinlutely terrifying. Terrifying that the tin-foil hatters have tricked you. Terrifying that someone will rob you of your bullion on your way out of the PM dealer's shop. So why not fight fire with fire, you say? You may just be right, I just hate scare-you-till-you-buy-it.

So, I try to stay away from scary stuff--I think there are so many other good reasons to own PMs. I try to focus on the logic and let the USGovt do the scaring for me! They cause 1000x more fear in all Americans that I could never instill in anyone.

silverheartbone
5th December 2009, 04:57
The premiums are high because the spot price is artificially low.

Considering how many tons of earth has to be broken, excavated, sifted, smelted, and refined for each gram of precious,
before it is even ready to be coined,
then the bullion is transported to the mint and transformed
and then transported to the dealers.
The energy expenditure alone is tremendous.

I am amazed that I can continue to buy an entire troy ounce round of proof quality for a single jackson at my LCS.
If you don't like paying high premiums and SHIPPING,
Perhaps locating one close to you makes sense.
Cash money works well to get the merchants to deliver in real time,
and THERE IS NO RECORD OF MY PURCHASE OTHER THAN A HANDWRITTEN PAPER RECEIPT.

I consider "close to me" as being under 150 miles (two hour drive) away.

hippiebrian
5th December 2009, 10:06
Maybe they're trying to make up the money they're losing by making the stupid decision to stop dealing in numismatics also? Just a thought...

Argentum
5th December 2009, 11:39
When did spot price ever mean anything but a paper contract to buy future gold/silver? The spot price is not, nor has it ever been the price of bullion in hand.

In a free market the seller puts up is his price, the buyer then has the option to pay for it or not.

This is the way it should work. If you want to buy from Apmex, then do so. If not, go some place esle. It's as simple as that.

In stead of bitching, you should all be quite happy that we are seeing decoupling from the spot.

If you have been in the boards for any lenght of time, then you know

"SPOT IS NOT" ((JJ))