Hi Guys,
A quickie before I share some news on the house search later on.
SILVER PREMIUMS RISE AND RISE
I got a message from the largest Dutch silver seller that their price for BUYING silver was raised to spot +7% for the common silver coins like Philharmonics and Maples.
So what is still the value of spot ?
Spot in Euro now is : 19,41
When you sell a coin to them you get : 20,78
And when you wanna buy one you pay 25 EUR for older Philharmonic or
almost 28 EUR for a new coin AND in two cases a waiting period of 3-4 weeks
see below
So buying coins is spot +25% or spot plus +40% for new coins. Crazy!
And when you wanna buy a coin bar or kilo coin....forget it. They are not available at all. So in my opinion the spot price for physical silver is like 23 or 24 eur and premium 4 eur. The retail itself also does not buy for spot they buy for spot plus 10 or 15%.
Enjoy the suday
Goldrooster
I used to think that the high premium over spot silver price was due to high oil prices, but that theory no longer holds water because the price of oil is falling while the premium on silver continues to rise.
Thanks for the information
Hodl! 😂
The premiums are getting pretty bad but I recently started to buy silver from private sellers using my metal verifier so it's sort of good for business
Something funny going on in the precious metals market. Let's see how this all plays out!
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I can imagine seeing bullion premium even crazier next year, before then I'd expect another Billionaire or celeb buying up pallets of monster boxes squeezing the physical market. The spot price means nothing anymore.
The premiums are still high. I think better to buy just ordinary Silver !