During Tom Cloud’s newest precious metals update, he discussed the rising silver premiums on official silver coins as well as the oversold platinum market. Not only have premiums increased on the Silver Eagle coins ever since the U.S. Mint suspended sales to the Authorized Dealers, but they have also increased on other official silver coins.
While some precious metals analysts have made a big deal out of the U.S. Mint suspending sales of Silver Eagles, it’s just business as usual. The U.S. Mint cut back on Silver Eagle production due to the much lower monthly sales figures compared to a few years ago. However, when a few large buyers came in and wiped out the inventory, they needed time to build it back up.
Regardless, the low silver price has pushed up premiums on many of the official silver coins. Tom explains this in his newest video below:
Also, Tom talks about the oversold Platinum market which is now trading at low of $800 compared to over a $1,000 at the beginning of the year. The Commercial hedgers are NET LONG Platinum by 5,700 contracts, the first time since over 25 years:
Lastly, if you haven’t checked out our new PRECIOUS METALS INVESTING section or our new LOWEST COST PRECIOUS METALS STORAGE page, I highly recommend you do.
If you are new to this site, you may want to check out our PRECIOUS METALS WEBINAR. There is a lot of excellent material discussed during that webinar… for free.
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On a positive note (I cannot wait to see EUR eventually depreciate against shiny relics), 1 troy ounce of silver is still equal to 1 troy ounce of silver which many people forget about as time goes by.
Someone should take similar picture with adjusted wording to reflect the silver case: https://i.redd.it/nypmoi6zhuj11.jpg
If we’re talking about a physical troy ounce, that is…! There seem to be quite a few more paper troy ounces floating about in the system vis-a-vis the real goodies… Time will sort this discrepancy out in “good manner”.
I would like to have some platinum at current prices but the premiums are crazy. Besides, how do you know if it’s real if you buy in some bullion form? The same with palladium.
“how do you know if it’s real if you buy in some bullion form?”
Buy from a reputable dealer, that’s all.
I’ve bought from Monex and so far haven’t had any fakes.
Gold, Silver, Platinum (1000 ounce bullion down to one ounce rounds).
Love Tom Cloud.
Thinking it’s only the beginning of Silver premium increases. Remember paying $7.50 a piece for American Silver Eagles in April of 2011 quite well….What goes around, comes around & I foresee a day soon when that amount will be exceeded. Easily exceeded.
lol Sorta got fixated on this thought Steve, “…..However, when a few large buyers came in and wiped out the inventory…” Hummmm…… can’t help but wonder why that happened…..
Making sure you are trackin’ with me….paying $7.50 PREMIUM on ASE that was $45 each…yup I was buying at the high to be sure…$52.50 for EACH American Silver Eagle….seems only yesterday.
If I offered PMs storage, I would organize a theft. Later the coins would be divided between me and the thieves. So much for PMs storage.
Or your employees, or anyone who knows about it would.
If you have so much you have to store it in some other location under someone else’s control, you take that risk.
Ed,
Spoken like the fine upstanding person you are. What a treat.
steve
This video explains the slump in precious metals.
https://m.youtube.com/watch?v=bYhTFz_SGw0
It gets worse with gold.
https://m.youtube.com/watch?v=ndshbH3qZ6Y
Ahh, JT, measuring currencies in money, or the other way around, is what i call the “Fogs of Fiat”.
People who do, don’t know what is going on.
http://schiffgold.com/wp-content/uploads/2015/09/purchasing-power-of-dollar-1913-2011.jpg
The price is not important. Maybe it won’t save you from the energy crush. Its just an insurance against monetary insecurity, nothing more, nothing less. No one will get rich anymore after this crash. No one.
A little bit of insurance doesn’t hurt, does it? As you might know, i’m not one of those greedy phyz metal pushers, but a hardcore realist.
The lesson is save your Hershey wrappers.
Sometimes i buy some hopium chocolate. Stamina, you know…
Is it just me or does this Tom Cloud fellow look an awful lot like Fred Gwynn, the actor? 😀
Like I said, the main point is that the world does not operate according to your idealism. The world, nature, the universe, humanity, God, whatever large descriptive term you want to give it…has its own ideas.
Even if you WANT precious metals to increase in price, it doesn’t necessarily mean it’s going to happen. Even if you THINK everything else is in a bubble, it doesn’t necessarily mean everything else is going to crash right away.
Really hard lesson, folks. And pessimistic, too. To understand my viewpoint you have to accept some pessimism. Otherwise you guys will never understand where you went wrong. Oh! I hear you claim. I’m pessimistic about the system! And I’m stacking precious metals because of it!
But see what you’ve done. You’re replaced pessimism about the system with optimism about precious metals. That isn’t true pessimism. To be truly pessimistic, you have to be pessimistic about everything, including precious metals. That’s the difference.
“That isn’t true pessimism. To be truly pessimistic, you have to be pessimistic about everything, including precious metals. That’s the difference.” You may be the only one here that wants to be pessimistic about everything. I bet you are the life of the party.
Are you pessimistic about love and relationships too? Pessimistic that young people like family members [children, nieces & nephews] will amount to anything? Pessimistic about your health too?
If so, why continue to live? Hard lesson here.
Is gold heading to $800?
https://www.bloomberg.com/news/articles/2018-09-14/turkey-banks-tap-4-5-billion-gold-reserves-to-shore-up-finances
Five more nations are preparing to do the same. EU?
21 century warfare? of coarse not, everyone loves each other.
MSM article like Bloomberg aren’t good sources on what is happening with gold prices. For one thing most writers don’t know the difference between a paper gold contract, a gold ETF, and physical gold in private possession.
The the article states “The commercial banks were probably switching to more liquid assets, given what has happened to the lira,” Jason Tuvey, a senior emerging markets economist at Capital Economics in London….” WHAT? Gold is more internationally liquid than the Turkish Lira. Make no sense to me. Finally the article is brief and few if any conclusions can be drawn from it.
But this article didn’t even mention price. At this price there is a buyer for every seller.
“Reasons To Optimistic About The Precious Metals Sector” [by someone who knows what he is talking about & doesn’t sell PM’s]
http://investmentresearchdynamics.com/reasons-to-optimistic-about-the-precious-metals-sector/