Premiums rising for physical silver (and gold)

pmbug

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4/28:
  • 10 ozt gold bars - 65 bars (mostly misc brand). Premium $80/toz over "spot"
  • 1 ozt gold bars - 0 bars - presale only. Premium $110 over spot
  • 100 ozt silver bars - 15 bars secondary market. Premium $3 to $3.5 over spot

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Consumers who want to buy gold coins typically have to pay more than the per-ounce prices quoted on financial markets in London and New York. That premium has jumped to $135, more than tripling from two months ago, said Robert Higgins, chief executive officer at Argent Asset Group LLC in Wilmington, Delaware.

“There has never been a time for American Gold Eagles at this premium level,” Higgins said in an interview, referring to the popular U.S. bullion coin.
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Gold-coin premiums tracked by Certified Coin Exchange are at the highest levels in six years, data from the bourse show.

Last year, bar and coin demand fell by 20% to the lowest level since 2009, hurt by costlier prices that discouraged retail bullion buying globally, according to the World Gold Council. That began to reverse in 2020, with investors snapping up coins sold by the U.S. Mint in March at the fastest pace in over three years.

Higgins, a 40-year industry veteran, operates a wholesale business that typically deals with an average of 1 million to 1.5 million ounces of gold each month. That jumped to more than 6.5 million ounces in March as premiums surged, he said.
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https://www.bloomberg.com/news/arti...forking-over-lofty-135-premiums-for-u-s-coins
 

pmbug

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5/16:
  • 10 ozt gold bars - many bars (at least 100) various brands. Premiums started at $67/toz over "spot" and averaged around $80
  • 1 ozt gold bars - Many bars (over 400) various brands. Sale item was $60 over spot. Regular priced items started at $80 over spot
  • 100 ozt silver bars - 15 bars secondary market. Premiums started at $3.10 over spot

I didn't do a full inventory accounting. Looks like they had a lot more gold inventory and were still running lean on 100oz silver bar inventory. Premiums looked to have dropped a little bit on gold, but were slightly higher on the silver.
 
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