It seems like that physical silver premiums have absolutely skyrocketed.
APMEX is now selling their Buffalo rounds for $30/oz which is around $4 above spot per round. ASE's are even crazier at $37 or so everywhere I look.
1) Any particular reason for the rise in silver premiums?
2) Is there anywhere that you can still get physical silver for a price close to spot?
Thanks!
The obvious answer would be that retail demand for silver rounds is outpacing the supply. While there isn't currently a shortage of silver, most silver is held in giant bars that have to be melted down and minted by mints to sell to retail buyers. The process of getting them from industrial bars to retail rounds isn't keeping up with buyers of the retail rounds which is causing price increases by retailers to maintain inventory. I think it's likely a short term problem, at least at the moment.
I've got a wee bit o' shine that I could potentially help you out with if you're looking to buy some silver closer to spot. PM me with how much you want and if you aren't trying to grab too much of my stack I may be willing to help you out.
That is definitely an interesting way to see it.
The local coin dealers here are jacking up prices on ASE's even more because I presume it's harder to import stuff from overseas whilst the pandemic is still a thing. With silver prices up from sub-$20 levels it's a tough time to accumulate.
I'm probably good for now in terms of purchasing more, was asking moreso out of curiosity as I thought there was something severely wrong about the silver markets that I couldn't find. Thanks for all the replies!
