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Growing Premiums on Silver Coins and Bullion

I was curious if any Daily Paulers would be willing to share their recent (i.e., last two or three weeks) experiences with purchasing silver, and give examples of the kind of premiums they have, or have had, to pay for various forms of silver.

While my experiences may not be very representative, within the last three weeks I have purchased 10 ounce silver bars with a premium of $1.50 over the spot price ---- up from just $0.60 earlier this year. Now, as of today, I was told that they would hold 10 or 100 ounce bars for me once they receive any (none currently on hand), but with a premium of $2.00 over spot. This is unprecedented, especially in a period of a falling silver spot price, as the standard premium for decades had been in the range of $0.50 to $0.60 over the spot price.

Likewise, the premium on Canadian silver Maple Leafs is now an astounding $3.75 over spot --- earlier this year, it was at $2.00, and late last year stood at $1.50. Silver American Eagles (SAE's) are unavailable through this dealer, and have been for most of the summer. Their stock of old 90% silver (pre-1965) US coins, commonly called "junk silver", is now also very low, whereas in the past it was almost a blight on the market, and could have been had for 1-2% over spot, even into earlier this year.

SOMETHING strange and never before seen is happening, despite all the shrill claims to the contrary by the apologists for the powers that be.

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Not for anything but if

Not for anything but if you're buying silver bullion why not buy old silver currency instead. There's less premium to pay and they're less confiscatable. Yes, I know you get less silver in the coin itself but in my experience that is offset by price.

5$ over spot for SAEs in Illinois

Can't remember how many weeks ago, but silver was a little over 13$ at the time.

"I killed the banks"

In Tucson, Az on Sept 10,

a friend of mine visited 3 dealers. Two of the dealers had no silver, one had 3 coins--that was it. He bought all three coins for $35.00.

In Houston, I have called my dealer a few times in the last couple of weeks, they had no silver.

Candid photo of Bob Barr follows

Why vote for the lesser of two evils when you can go all in?
vote Satan/Paulson '08

"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."

its going to be real funny

its going to be real funny to watch all the "experts" on silver who say there is plenty run for the hills within 60 to 90 days!

as for me and my home, we shall worship the LORD

"The real reason commodities are tumbling"

The real reason commodities are tumbling

JOHN HEINZL, Globe and Mail Update, September 10, 2008 at 6:00 AM EDT:


To hear Donald Coxe tell it, the commodity selloff ripping through Canada's stock market is no accident. It is the result of a deliberate, brilliantly executed plan hatched at the highest levels of the U.S. Federal Reserve and Treasury.

Mr. Coxe is no paranoid conspiracy theorist. As the chairman and chief strategist of Harris Investment Management in Chicago, he is one of the most respected investment authorities in North America. He also happens to have lost about 10 per cent of his personal wealth in the commodity rout, which came at the worst possible time for his Coxe Commodity Strategy Fund that started trading in June.

"This has done more damage to my personal wealth than anything in the last 20 years," he said in an interview yesterday. But he has too much respect for how the U.S. authorities engineered the collapse in commodities – a move he said was necessary to shore up the global financial system – to be bitter.

"My attitude is, goddamn it, they're good … it was brilliant."…


Mr. Cox (who is VERY mainstream),
You are right, but you don’t get it … it is intervening in the US free market process which has brought us to this point. Brilliant???? THEY have engineered a catastrophe up to this point, which is just what GATA pointed out to the US investing public in our full page color ad at the end of January.

Bill Murphy
Gold Anti-Trust Action Committee

Ron Paul "Sign Wave Across the USA" -- November 5th!