Apmex buying physical silver for $3 OVER spot

Just to play Devil's advocate, $3 premiums over spot for Eagles were around back in late 2008/early 2009.

But a major bullion broker dealer doing that is unheard of. Especially one that has in the last 2 years stepped into rip-off territory. They must be selling them for $6 over spot.
 
SPOT - 39.31

APMEX - 1 SAE 46.15 for sale

APMEX buy price - 41.31

Uhhh...yeah....fuck no actually. :o

apmex is the suckers go to
 
Look at Apmex's site. They were completely out of stock the other day, and they still dont have any even though they say they are selling them. They say they are "expecting" to ship the silver in nearly 2 weeks because they dont have the silver to sell right now.
 
Quote from peilthetraveler:

Look at Apmex's site. They were completely out of stock the other day, and they still dont have any even though they say they are selling them. They say they are "expecting" to ship the silver in nearly 2 weeks because they dont have the silver to sell right now.
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A 20-30% drop will definitely cure that inventory problem.

Considering the fact that 1 oz coins are essentially a retail way of hedging currency concerns, I'm not that surprised that there has been a major uptick in conversion to hard assets. BUT, these players can also be easily shaken out as we are currently witnessing.

Even if silver bases back at $35 per oz for a few weeks, that's still a massive run up from the prices we saw just a few short months ago.

(btw, the precious metals dealers must absolutely love Bubble Ben. He's been the best thing for them since Jimmy Carter and that failed Fed Head that preceeded Volcker.)
 
Quote from denner:

A 20-30% drop will definitely cure that inventory problem.

Considering the fact that 1 oz coins are essentially a retail way of hedging currency concerns, I'm not that surprised that there has been a major uptick in conversion to hard assets. BUT, these players can also be easily shaken out as we are currently witnessing.
More...

Strangely, this is not the case, still. You would think the new retail investors would be dumping their 1oz coins/rounds when the price was in the low 40s.
 
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