Bullion Dealer Gives His Thoughts On Junk Silver & American Silver Eagle Premiums
The current prices of silver and gold have premium changes. We are getting silver at 19 dollars and 40 cents, and gold is for one thousand six hundred and 65 dollars per ounce. There is not much movement in the last week, which is a good thing for buyers and sellers. Now let’s see what is coming up for the next week and how the market responds to it. This summer, the storm hit the corner, and fortunately, the prices of metal are not going up. Hurricanes are massive and unpredictable than last ten years. However, the summers are suitable for metals, and we can deal with premiums with fewer price changes.
Now let’s talk about the premiums as they have some updates you should know. The premium metals have changed, and you need to track them.
One ounce of gold is available at the spot price with a 4 percent increase. The distributors provide the Gold Eagles without the hassle and deliver them to the shop quickly within a day or two. However, we are selling the gold eagles at a spot price with an addition of 6.5 percent. There are no significant changes in the Gold Eagle prices for buying or selling, and we are not seeing any difference in the coming days.
Moving towards the one-ounce Gold Buffaloes also has significant changes. We are buying and selling it at spot prices with a minor addition. We get the one-ounce gold buffalo at a spot price plus 3.5 percent and sell it to the buyers at a spot price with an accumulation of 5.75 percent.
The foreign gold has some updates. We are buying it at the spot price with an addition of thirty dollars. At the same time, the selling of foreign gold is fixed at the spot price with an additional 65 dollars. The vast costs and premiums usually have such high rates along with their interest rates.
It is the retail-friendly prices that you can get and earn profits if you work as a vendor. The distributors also ship gold eagles, buffaloes, and foreign gold with fewer updates. You can order from them or visit the shop to get your desired gold coins. It is a retail-friendly coin with fantastic quality.
Before covid hit the world, the retail mantra or coins had different scenarios or almost didn’t exist. But right after the covid or during the covid, the retail-friendly coins are confirmed, along with all other premiums. It is coming into the market with equal proportions, and buyers or sellers prefer it with its rates and interest proportions.
One of the main reasons is that premiums significantly increase spot prices and interest rates. Now it is selling in the market with half the ratio of silver. If we are saying that 90 percent of buyers want to get silver or gold, then half of the ratio also prefers retail-friendly metals.