flower-shilling

dealer premiums are utter fucken shit atm

jason1

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Silveroo
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Man dealers and mints are ripping off with premiums worse than 2020, its insane their premiums.
thought about smashing a bunch of cash on some physical gold while spot is down but fuck off with these premiums.
 
ozcopper said:
And silver is worse!

Im a bit silver heavy so was only considering gold, So i didnt look at silver premiums.
wanted to buy a few 1/10 coins, they cost more now than they did when gold was hitting its peak.
not in the game to lose money on premiums
 
You must learn that physical gold/silver are different to manipulated derivatives
called  spot!  A free market = POMs physical, people willing to pay and sellers willing to sell. Perceived paper and actual  gold in hand prices called premiums  ::) will only get wider over time until the compressed springs let go. I hope it happens in my life time I want bill gates to suck my cock  ;D
 
there is lower premium bars in Pt https://sgd.indigopreciousmetals.com/bullion-products/platinum/platinum-ingot-impala-south-africa-lppm-good-delivery-various-bar-weights.html  :)
 
Silver Soul said:
You must learn that physical gold/silver are different to manipulated derivatives
called  spot!  A free market = POMs physical, people willing to pay and sellers willing to sell. Perceived paper and actual  gold in hand prices called premiums  ::) will only get wider over time until the compressed springs let go. I hope it happens in my life time I want bill gates to suck my cock  ;D

yes, spot paper  manipulated
but also Premiums manipulated, plenty of hoarding going on in the mining,minting and banking of physical when market slows. plus those dealers who bought when it was high refusing to sell as it goes down.

Ive been in the game for along time, over 20 years, there is manipulation on all levels. was BS with Physical until covid hit and now these mints are hitting us with the covid tax. remember these refineries dont pay spot price, they pay under spot. the spot price metric is still there even if we like it or not, and ignoring it is silly. 

unlike 2020 when spot prices hit a low and demand was high, mints,and refineries were shut due to covid madness, you could see the separation between physical and paper, and the argument was more legit,But there isnt the demand for it right now to that point in time for physical. so that disconnect between the two should be tighter.

I know for a fact dealers arent selling like they were a few months ago when spot was up.

 
I'm confused,  are you saying that because they have a product that they paid more for and don't want to sell at a. Loss they are ripping people off?
That's not how capitalism works. They have a product,  it has a price they are who sell it for, if you don't like the price you can source it elsewhere.  If there is demand and the product can be sourced for the price your willing to pay the market will create other dealers willing to take your money.
But if no one else can source and sell the product for the price your willing to pay then you have not understood the market value of the product.
Have you tried other dealers? Cash converters perhaps?
I'm 100% sure if your looking to pay a price that is profitable enough to a dealer that you can find silver
 
any dealer got to hedge to stay in business for the long haul,
so premium is much less important to the movement/cashflow
it looks like the perspective is wrongly viewed
as we have many online dealers with such a big price differentials on the equally similar products ranges
some closed down long ago.
 
Really ?
Says you .
How about from a dealers perspective .
Our costs are constantly going up .
+ insurance costs .
Nothing is coming in the door .
I have to look outside my usual suppliers & they want more then spot .
Get over it .
that's life
 
Most items are generally understandable but the 1/10 gold coins have a crazy premium over spot for what they are. They've never appealed to me unless I can get them at a good price near spot. I have only ever managed to get five 1/10oz roos near spot. That was many years ago, too.
 
spannermonkey said:
Really ?
Says you .
How about from a dealers perspective .
Our costs are constantly going up .
+ insurance costs .
Nothing is coming in the door .
I have to look outside my usual suppliers & they want more then spot .
Get over it .
that's life

Ive been buying for over 20 years the premiums suck like never before. and yes I run a business so understand costs. this is covid tax pure and simple.


Serial said:
I'm confused,  are you saying that because they have a product that they paid more for and don't want to sell at a. Loss they are ripping people off?
That's not how capitalism works. They have a product,  it has a price they are who sell it for, if you don't like the price you can source it elsewhere.  If there is demand and the product can be sourced for the price your willing to pay the market will create other dealers willing to take your money.
But if no one else can source and sell the product for the price your willing to pay then you have not understood the market value of the product.
Have you tried other dealers? Cash converters perhaps?
I'm 100% sure if your looking to pay a price that is profitable enough to a dealer that you can find silver

you picked one part of what i said, its part of being in the metal market, you have a market price and if you pay to much you lose. well thats how it used to work which is capitalism lol, I guess they just need to hold on and find a sucker who is willing to pay high in a declining market, that has never happened before.

Ive looked at a number of dealers as i always do. buying from a dealer theres always been a premium obviously but man that % is scewed badly.

you would be nuts to buy from a mint or dealer right now.





 
1/10 gold coin is one of the metal with the highest premium since always and Im sure you know that hence you are still chasing them.They have about-if not higher- premium as the 1oz gold bar.Plenty of dealers around you just need to look:)
 
dragafem said:
1/10 gold coin is one of the metal with the highest premium since always and Im sure you know that hence you are still chasing them.They have about-if not higher- premium as the 1oz gold bar.Plenty of dealers around you just need to look:)

Ill dig up a receipt from the last purchase of a 1/10 when gold was higher, will compare the same today. give me a minute
 
Ok so one receipt i can find easy, I bought two brits 1/10
Spot price at the time was $2609 Aud $83.88 gram.
the brits cost $297.11 which is $94.46 gram
Premium $10.58 per gram

today  the cheapest of the dealers i can see is $307.59Aud  $98.792  gram
spot $2,557.72 aud oz $82.23 gram
Premium $16.562 per gram

brits are pretty much a generic 1/10 coin, im not picking high end coins here with collector value
 
And that's the thing, you're paying a $40-$50 minting premium above spot. Times that by 10 and it doesn't make sense to stack that way IMO. Even a $10 increase in premium for the 1/10 means your paying $100 more over spot per Oz. I can understand the frustrations.

Other than the lower denomination (more options when selling) and higher liquidity, what is it about the 1/10 that interests you? It appears you have more incentive now to step it up to 1/4 or 1/2 Oz.
 
jason1 said:
Ok so one receipt i can find easy, I bought two brits 1/10
Spot price at the time was $2609 Aud $83.88 gram.
the brits cost $297.11 which is $94.46 gram
Premium $10.58 per gram

today  the cheapest of the dealers i can see is $307.59Aud  $98.792  gram
spot $2,557.72 aud oz $82.23 gram
Premium $16.562 per gram

brits are pretty much a generic 1/10 coin, im not picking high end coins here with collector value

I see if I can get some frac coins tomorrow and let you know.I beat any dealers price on generic 1/10.How about that? ;)
 
STKR said:
And that's the thing, you're paying a $40-$50 minting premium above spot. Times that by 10 and it doesn't make sense to stack that way IMO. Even a $10 increase in premium for the 1/10 means your paying $100 more over spot per Oz. I can understand the frustrations.

Other than the lower denomination (more options when selling) and higher liquidity, what is it about the 1/10 that interests you? It appears you have more incentive now to step it up to 1/4 or 1/2 Oz.

Typically i only buy blobs for bang for buck, but I do like Brits, just a nice coin IMO, love the design, even though its a generic coin, and they sit value wise at the  lowest level of premium coins more comparable to a roo in silver.  sometimes  treat my self with a few of them lol.

But yes 1/10s arent the greatest of value at the best of times, totally shit value at the current rise in premiums thats for sure, and brits are the cheapest of the 1/10s. lol
but that did give a good metric to compare the premium rises IMO, harder to compare premiums if your talking collector coins which brits are not. and they have seen a $6 per gram rise in only a few months in a declining market. so market price went down $1.60 a gram they got more expensive by $6 per gram lol 

 
first time silver drop below 18.40 there was 3% discount for 10 oz heraeus bar
but
when silver drop to below 17.76 which is lower then July drop, there is no discount.

so even with lower spot price, but stronger USD, we cannot even get close to a bargain :(

may be next time
 
alor said:
first time silver drop below 18.40 there was 3% discount for 10 oz heraeus bar
but
when silver drop to below 17.76 which is lower then July drop, there is no discount.

so even with lower spot price, but stronger USD, we cannot even get close to a bargain :(

may be next time

It feels like the calm before the storm. I saw a post that was saying Perth Mint had significant delays with requests to convert (un)allocated metals into bars for delivery.

 

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