View Full Version : premiums on generic silver
10-12-2010, 03:57 PM
i bought some rounds from a local dealer for the first time today and was charged $25 a pop out the door/no sales tax for engelhard prospector rounds. im looking at spot right now at $23.30 so that would be a $1.70 premium. i know there is a bigger premiuim with the prospectors thats why i chose them. im just curious if this is a decent premium to be paying, im used to buying my silver off the bay for a very smal or no premium. there was another dealer that i wanted to hit up but he was closed.
10-12-2010, 04:25 PM
I would venture to say that the high premium on Engelhard Prospectors is a product of eBay... but I have no numbers to back that up. I recall seeing them on eBay during the silver "lean years" and while other bullion rounds were left standing by the punch bowl, the Prospectors had a nice line of buyers waiting to dance. Never understood it though. IMO, I prefer A-Mark rounds over prospectors and they go for 50 - 80 cents over spot (last time I checked). Better looking rounds, me thinks. But if you enjoy them - all power to you!
10-12-2010, 04:47 PM
I was looking over the cost of all the different rounds this morning and noted that a couple carry a considerable higher premium when bought, especially JM's. But, looking at the buy-back prices, dealers pay the same price for mixed generic, secondary market rounds. These junk rounds can be bought for about $2 bucks less than the JM's, so I can't see paying extra for any particular round when they all fetch the same price at sell time.
10-12-2010, 04:50 PM
The Engelhard prospectors demand more premium because no one wants those BASF prospectors.
Engelhard ist kaputt.
engelhards prospectors aren't really the same as generics. They trade at around the same price as SAEs. For true generics, they're typically sold at $.50 - $.60 above spot. If you sell back to dealers may be as low as $.50 behind spot.
10-12-2010, 10:45 PM
Many dealers will pay extra when buying Prospectors but you will never recover a premium of $1.70
Apmex's spread on Prospectors is $1.59 [this is if you buy at least 500 pieces]
Apmex's spread on generic rounds is $1.29 [this is if you buy at least 500 pieces]
You lose an additional .30 each by buying Prospectors.
While the premium is higher at Apmex on silver eagles, the spread is only .89 each if you buy 500 pieces.
The lesson here is
Prospectors are good but don't pay to much extra to get them. [currently not more than .30 extra versus generic]
Silver eagles - buying the higher quality item pays for itself.
Currently generic is a better buy than Prospectors.
10-12-2010, 11:46 PM
+ 1.50 today @ the local shop!
10-12-2010, 11:58 PM
I saw some '85's (Englehards) in excellent condition today for 24.95 while silver was at about 23.40. Say 1.55 over. Singles price. No tax no ship, which is important too. At a pawn shop no less. A nice one though. Lots of nice guns, tools, guitars etc too. Some lady was standing in front of the gold counter and I got to checking out her ass and forgot to look at his gold prices.
Just killin' some time today was all.
10-13-2010, 12:12 AM
.....Some lady was standing in front of the gold counter and I got to checking out her ass and forgot to look at his gold prices.....
Been there, done that.:bear_tongue:
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