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Old 12-06-2012, 03:44 AM   #1
KMS
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$1.80 premium on silver Maples on 11 December

Hey all. Got an email from Goldmart about an upcoming sale on Silver Maples next week starting on Tuesday, 11 December.

Quote :
On Tuesday, December 11, we will be opening our doors to our Northern Neighbors, and to mark our entry into the Canadian Precious Metals Market—to celebrate the occasion!—we are offering customers the opportunity to purchase Brand New 2013 1 oz Canadian Silver Maple Leafs—at our dealer cost of $1.80 over spot per coin for any quantity. This special will last for 24 hours only and is open to customers both in the United States and Canada.

NOTE: These prices will be valid from 1:00 PM PST, Tuesday, December 11 through 1:00 PM PST Wednesday, December 12.
Keep your powder dry,

KMS
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Old 12-06-2012, 12:50 PM   #2
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$0.29 /oz savings over their everyday price.

Hope this isn't followed up with higher premiums after sale. Their junk silver, gold maple premiums have gone up recently.
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Old 12-07-2012, 12:52 AM   #3
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For those in Canada, there are better deals once you take into account shipping.

However, I still maintain the best overall way to purchase PMs is through your local coin dealer. I believe it is very important to have a personal relationship for this kind of transaction.
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Old 12-08-2012, 05:11 PM   #4
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Agreed, Superhero, their premiums have risen.

Not defending them, but I've had one of their folks on the phone describing to me how small of a profit margin they make due to their goal of providing the cheapest product for their customers. I mean the numbers he was describing to me were like nickles, dimes, and quarters in earnings per ounce depending on the product. Not a very large margin at all.

I also would imagine if supply issues are tightening as they seem to be, that their wholesale costs have increased, hence the slightly higher premiums.
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Old 12-09-2012, 05:34 AM   #5
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Nice. But a question

Right on time. I was getting the itch to buy some more silver. 2013 Maples will do nicely. But I'm curious. Is this a pre-order? Or have the mints started strking 2013 bullion coins?
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Old 12-09-2012, 09:54 AM   #6
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Most likely a pre-order. Most of the bullion dealers do this with American Eagles too (start offering them for pre-order sale in December).
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Old 12-09-2012, 01:26 PM   #7
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I have a tough time believing anyone provides deals on PM's simply to provide the customer with.....well......anything really.

No, I rather believe they perhaps got a deal of some sort as a result of some insider discount and they are able to make up margin with the arbitrage on these deals.

NO company exists [for profit companies that is] in any other than their own self interests........period.

To exist as a public service of some sort, only taking in enough to pay salaries and overhead is the antithesis of good corporate structure. No my friends, all PM sales involve some kind of arbitrage or hidden profit motive.
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Old 12-09-2012, 01:40 PM   #8
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Govt Mint coins sold from the mint to authorized dealers are sold at a fixed price. I doubt that Goldmart or anyone else is getting a cut rate on them.

In retail sales, there is such as a thing as a "loss leader". It's possible that Goldmart is doing this in an effort to build up it's client list (attract first time customers) for future profit.
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Old 12-11-2012, 11:32 AM   #9
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For what it's worth, Goldmart is now carrying Sunshine Mint 1oz gold bars at $19.99 over spot.
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Old 12-11-2012, 11:39 AM   #10
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BTW, who's gonna take one for the team?

Buy today so the rest of us can get a deal tomorrow after it drops?

DoChenRollingBearing, Jay and I have all sacrificed for the greater good. It's someone else's turn.

Bueller?

Bueller?
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Old 12-11-2012, 11:45 AM   #11
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Haha. I actually bought a few of the DTOM collectibles from Silver Doctors last week, the day before the $0.60 drop of course. =( Besides, with my work schedule I'm going to have to wait til tomorrow to buy during their sale hours.
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Old 12-11-2012, 11:45 AM   #12
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Originally Posted by superhero View Post:
BTW, who's gonna take one for the team?

Buy today so the rest of us can get a deal tomorrow after it drops?

DoChenRollingBearing, Jay and I have all sacrificed for the greater good. It's someone else's turn.

Bueller?

Bueller?
I snuck in a purchase over the weekend. We shall see if my luck is as bad as Jay!
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Old 12-11-2012, 11:51 AM   #13
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FOMC is tomorrow. There should be upwards pressure tomorrow.
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