I went to the Local Coin Store yesterday afternoon to do a little prospecting for silver and came home with the Engelhard The American Prospector One ounce silver round.
The Reverse is of the American Eagle.
I paid $27 for it which at the time was $5.00 over spot. So I did a little checking on the old interweb to see what the big boys are asking for this coin.
Apparently, APMEX is basing its price on the fact that these particular rounds are getting scarce. Not really scarce in my opinion, as there are plenty of these coins they just happen to be tucked away in someone's stack.
So I went over to JM Bullion just to see what they were asking for these coins and this is what I found . . . .
Well perhaps these rounds are getting a little scarce in the open market BUT $15.00 over spot for a generic round is a bit much.
So silver had a rather nice bounce after Fed Day.
Gold also caught a nice bid today.
The store this week was charging the following premiums:
Generic Silver Rounds: $5 over spot
Sovereign Coins: $6 over spot
Constitutional Silver: $6 over spot
American Eagles: $10 over spot
So that is the wrap up of this week's adventure to the coin store.
Peace out and Stack On!