With the Canadian Mint now in full operation, there is finally the availability of 2020 Silver Maple Leafs once again in the market. Depending on the various online precious metals dealers, the premiums for the 2020 Silver Maple Leafs are ranging between $3.90-$6.98 per coin.
I was quite surprised to see one of the larger online precious metals dealers charge the highest premium. I incorrectly assumed that larger volume would equate to lower premiums. However, this wasn’t the case. So, if you are a new investor in precious metals, it’s a good idea to shop around for the best prices and services.
I would also recommend that new precious metals investors call up several of these larger online dealers and ask questions. If these online dealers will take the time to answer your questions, that is a good sign that they don’t mind investing some “Time” in educating and assisting new clients.
With the average silver spot price being $17.56 from the leading online dealers I selected in the group, the prices for 2020 Silver Maple Leaf coins (1-19+) ranged from $21.38 to $24.54:
Again, these are the leading online precious metals dealers prices versus CLOUD HARD ASSETS, which I sponsor on the website. Here are the different 2020 Silver Maple Leaf premiums for each of the dealers based on the close of trading on Friday, June 5th:
2020 Silver Maple Leaf Premiums Various Leading Dealers (1-19+ coins)
- CLOUD HARD ASSETS = $3.90 per coin
- Leading Online Dealer #1 = $4.98 per coin
- Leading Online Dealer #2 = $5.42 per coin
- Leading Online Dealer #3 = $5.76 per coin
- Leading Online Dealer #4 = $6.98 per coin
And, CLOUD HARD ASSETS is also showing even lower premiums for the 2020 Silver Eagles versus the leading Online Dealers:
2020 Silver Eagle Premiums Various Leading Dealers (1-19+ coins)
- CLOUD HARD ASSETS = $6.70 per coin
- Leading Online Dealer #1 = $9.73 per coin
- Leading Online Dealer #2 = $9.96 per coin
- Leading Online Dealer #3 = $9.98 per coin
- Leading Online Dealer #4 = $11.28 per coin
Interestingly, I was once again surprised that one of the largest online dealers was charging the highest premiums for their 2020 Silver Eagle coins. Thus, this online dealer charging $11.28 over spot per 2020 Silver Eagle coin is a hefty 64% premium.
I decided to put together a spreadsheet showing the difference between the average 2020 Silver Eagle premium from the four leading Online Dealers vs. CLOUD HARD ASSETS. These figures are based on purchasing 1-19+ coins:
As you can see, CLOUD HARD ASSETS 2020 Silver Eagle premiums have been averaging about 20% less than the leading Online Dealers. Now, due to one of the larger dealers charging a higher premium, it brought up the average of the group. Regardless, what a remarkable difference in 2020 Silver Eagle premiums over the past three weeks.
It will be interesting to see if the premiums on Silver billion products will decline now that there is more availability since the economy and supply chains are opening up. However, when the next Financial Crisis hits, I believe Silver Bullion product supply will DRY up as we have never seen before.
You can contact Tom or Dan at CLOUD HARD ASSETS here: PRECIOUS METALS INVESTING.
Tom Cloud has been in the precious metals business for 46 years, since 1973. He has a lot of experience in the precious metals industry and understands the gold and silver market better than most dealers in the industry.
If you are new to the precious metals market and had questions, Tom Cloud and Dan would be happy to answer any questions.
DISCLAIMER: While Tom offers information about precious metals, you should not take this as investment advice. You should contact a professional advisor and or do your due diligence before making investment decisions.
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Can’t get away from thinking —here comes SILVER!
Hi Steve, thanks for all your work week in and week out. I have been listening to the likes of David Weiss, Owen Benjamin, Jeran C., Crrow777 and the consensus is oil may be abiotic. And it in no way is old dinosaur bones etc. They site many things but one of them is that old dried up wells in the Middle East are tapped again and again, this is over decades of course but I think you have the idea. Could you provide me with any feedback, or anyone else here care to comment? Thanks so much!
I’d like to take a guess. It’s like when you drink a glass of milk, and put the glass down… the small amount of milk, on the inside surface of the glass, seeps back down to the bottom, forming a very small milk puddle. So, small amounts of oil in the outer limits of the reserve slowly seep back over years, creating some amount of recoverable oil.
Old oil wells and fields are not filling up again. If they are, it is like the speed of filling a swimming pool one drop at a time.
Old wells have not been tapped again and again, and they won’t be, as they are not replenishing themselves.
I want some of what they’ve been smoking;; it might make reality easier to deal with.
Let me guess who is the highest. APMEX. Because they have pretty blue boxes.
They will be the “Cheaper than Dirt” (CTD) of the PMs dealers. CTD really screwed loyal customers in the ass when the ammo shortages suddenly appeared.
I sent said company an email expressing my interest in selling or trading 135 ozs. of .999 Silver towards a gold purchase. Their reply? Not interested. No discussion, and no explanation at all. And I’ve been a customer of this company for better than 10 years. Totally absurd, and I will never deal with them again!
PS: Why I think this absurd is because of the well known physical Silver shortage. In such a climate, I fail to understand why they were not interested in my Silver or even in discussing my proposal.
People are attempting to do that at a lcs near me. The owner will take their Ag on consignment and when it sells, he will order Au for them. He has lots of Au customers compared to Ag.
There are several 100 oz. Ag bars in his case that were $2100 last week. This week they are $1900.
“The owner will take their Ag on consignment and when it sells, he will order Au for them.”
That sounds reasonable. The large online dealer I contacted about selling or trading 135 ozs. of .999 Silver. An email reply simply stated that they were not interested in 135 ozs. of .999 Silver, period!BTW, I was perfectly willing to be flexible on my terms, but this never got to first base. What do they know that many of us don’t? Fishy…
JRS,
Indeed Fishy and unprofessional. Most of the Dealers will charge money to BUY BACK METAL. However, Cloud Hard Assets doesn’t. This is a BIG PART OF the Business that most precious metals investors fail to understand. They are losing some profits selling back to most dealers because these dealers charge a commission to buy back metal.
steve
I will contact Tom Cloud to see if we can do business (now and in the future). I’m in need of a good PM dealer.
JR2,
Tom or Dan will answer any questions. They will give you the time of day that most dealers will not. Also, many dealers that get a call from someone who wants to only purchase a small amount of metals, will not spend much time at all. I find this to be very unprofessional.
Tom and Dan deal with all clients in the same way.
steve
Thanks Steve.
I am a generally loyal person. I chose to do business with those in it for the long haul. Within reason, I will pay more for services than just PM pricing. All other things being equal, service is a critical factor. I will contact Tom and have a discussion about my current position and where I want to go from there.
Thanks much!
Yes, better jump on em while we can. Get some Britannias too. I suppose the government mints have access to silver that we don’t. it will be interesting to see what the mints have available in the coming years. Most likely low mintage overpriced coins if silver bullion gets slim.
I recommend not buying ASE’s and paying that level of premiums.
Buy the lowest premium coins.
Diasppearingculture,
Agreed. I like the Canadian Maple Leaf coins over the Silver Eagles. Also, the South African Silver Krugerrands are nice coins as well.
steve
Disappearing, what is your take on generic rounds? To what extent are those less desirable even though they are 99.99% same as eagles?
Extensive discussion with my local dealer, and what he gets asked for, and what sits in inventory on his website while all .999 or 4 9’s coins are sold.
Not worth the difference for ASE’s at this time of high premiums. But for $2-$3 more that generic, another sovereign coin’s resale demand (or some trade arrangement for gold) is more certain.
It seems that the mass has not started buying silver. Once started, generic silver rounds could sell well.
I agree 100%. It may be al they can get.
ASE’s command the highest of premiums for .999 Silver. The best VALUE could be with Canadian Maple Leaf .9999 Silver. JMHO.
Yes. And my local coin dealer states after ASE’s, Maples are the 2nd most in demand.
I called Tom Cloud 3 times if I remember correctly. I missed their return call after my first call. I never heard back from them after that. I went elsewhere for my gold and silver purchase.
They are very busy with as few as two people answering the phone sometimes.
Steve, does Tom also buy back silver? Not that I’m a seller. Far from it. But I’m curious if dealers like Tom will become Market Makers in silver. They can buy and sell with a spread. Perhaps 8-10% or something like that. It might be worth having a discussion with Tom about that. Could be a good business as prices move higher. Thanks!
ChicagoMark,
I know Tom Cloud buys metal back from his clients. Currently, there is more of a spread due to the shortage of silver bullion products. However, Tom doesn’t change a commission to buy back metal, whereas most dealers do charge a commission.
steve