Less than one year after silvers breathtaking collapse from its record-setting rally, investors are again snapping up coins at an unprecedented pace, suggesting the white metal could leave gold in the dust.
As if you didn’t need more evidence to suggest that real, physical holders of silver could care less about the fraud-ridden, margin-crazy, Comex paper-silver market pricing, check out the latest eBay data coming out of 24hr gold. Nearly a MONTH after silver almost pushed $50/oz and tumbled almost a full $20 backward thereafter, you’d think that all those ‘suckers’ who bought on the way up would try to be unloading at any price, wouldn’t you? The data suggests otherwise.
1oz American Eagles, which the COMEX says is worth just $36 and change today, are selling well in quantity for as low as $45.95 with free shipping. The seller has already sold over 180 eagles between $45.95 and $48.75 May 10th through today. During this period, it doesn’t appear as if the premium per coin ever dipped more than a few cents below $10
On May 6th, on this site, was posted an image of an Ebay roll of ASEs that had just sold for $840. The caption was “looking for the bottom”. As of today, on Ebay, a roll of ASEs are still stubbornly not dropping much below that mark – despite there having been a roller coaster of spot fluctuations and people decrying the end of silver. And now we are seeing an up-tick in paper spot.
In the last week, however, that premium soared, and it’s still high. As of Tuesday, the same dealer now sells that coin for almost $6 more than the spot price – and that’s based on a “delayed” delivery … At another site I looked at the premium is more like $7 per coin.
In fact, if you want to sell coins like these to dealers, they’re still generally paying more than the spot price.
Couple of nice tricks for tracking APMEX silver in stock. Good way to see silver sales trends in real time. If anyone sets up spreadsheets, email me and I’ll post them. SilverStocksBullion@gmail.com
People want their physical silver.