Ok folks...you ain't gonna believe this s#!t. It is a total first for me. I go to my local coin show looking to find a little gold or silver and check out prices. I've been on a sovereign and 20 francs bender lately. Now granted, it was just a small 20-25 table show, but there was literally not ONE PIECE of gold to be found. Not even a 1/10 oz or some flower gold in a vial. Only 5 tables had ANY AG, and the best deal I could find on generics was $6.50 over spot (33% premium!). Eagles were $37 (87% premium!). I ended up buying five slabbed eagles from various years that were all MS69's for $40 each. Can you believe that?!?! I bought SLABBED stuff for just $3 more than a BU eagle...unfreakingreal. All the dealers said they couldn't get gold in any denomination without a ridiculous premium so they just gave up. They said even the foreign stuff is drying up. As for silver, they are telling me replacement costs are so high and availability of product is so low that they are giving up on silver too. They said the next show will probably be "numi only" at the rate it is going. My jaw f'ing hit the floor!!! Apparently it's not all a bunch of silver pumpers online after all. It's hitting the local show circuit hard. I figured maybe this show was a one-off, so I called a couple of my local dealers (heavy hitters with bullion at the bigger area shows over 50 tables), and all three of the ones I called echoed what I heard today. They are actually limiting their show appearances and only selling to their most loyal customers for ANY gold or silver bullion. 90% was going for 22xface. That's like 55% premium!!! I'm dumbfounded. All I can say is buckle up buttercups. This s#!t is fer real.
