APMEX-Almost bone dry
I did some shopping this AM and most of it’s gone. I’d say 80% of the inventory is sold out. Silver premium for junk is 12.99 over spot.
I did some shopping this AM and most of it’s gone. I’d say 80% of the inventory is sold out. Silver premium for junk is 12.99 over spot.
So more than Double the spot price ?
Wow !
Who would pay that? They couldn’t give it away last week at .39 over spot!
Toilet paper phenom happening in metals?
Is the inventory really depleted, or is it being squirreled away by the bullion dealers?
Good question! And there could be a couple of nefarious reasons for that.
I’ve been a long time customer of APMEX. I called them yesterday and I said what are you paying for a 2012 San Francisco mint sealed monster box. At that time they had SAE for sale random year for $22 plus change. They offered me $14 each… what a crock!
Thats a problem with silver…..we all think it’s worth what it selling for but really its worth what a dealer will pay for it
The spread is always large…and right now it is gigantic
IF you want to raise cash …you will not get near what you would think based on the selling price.
I called them to play the see what the story is and I have no intention of selling my silver until the price is ridiculously high. I will wait until the grave for that! Meanwhile this song reminds me of how I am trading the SQQQ…
https://www.youtube.com/watch?v=pW3PSKJ-Bik
Local coin shops operate much closer to the bid and ask. The one I go to in town follows Kitco at point of purchase or sale. Sometimes they get hosed, sometimes they do the hosing. But since they are constantly turning over product in must even out. Plus the other side of the building is gun sales and that is where they make all the money here in Texas 🙂
There is also no tax on PM’s in Texas. Come on down y’all. The boys just opened the Texas Bullion Depository. It is only a few miles from my house. I am taking a tour sometime this month.