patrick.net

%Onvacation says

Bought a souvenir in Mexico city.

Nice I have been watching a few sellers on CL and with my thoughts on USD strength I see spot anywhere
between 15.5 and 13 and plan on making some buys in that area... Not sure what the mark up will be I can get
Buffalo Rounds at $23 on a 100 coin lot or $24 if a lesser amt is bought now.
I see some 90% dimes
1000.00 face $ 19,250.00
100.00 face $ 1930.00
10.00 face $ 194.00
Which = 28.60% premium on the dimes $26.68 per/oz I'm waiting to see what happens in time and I'll speak up if/when I buy any...

komputodo says

First of all, is the OP talking about GOLD or GLD?

OP says GLD, but my response on why GLD doesn't match up with expectations for physical in this situation is still accurate, i.e. rampant price fixing by the banking cartel.

Comparing paper to physical will always come with a disconnect, because the only reason paper exists is to bypass the restrictions of physical, and through inflation rob us all blind.

NuttBoxer says

Wow, not a single right answer.

You are all looking at the paper market, which I have pointed out numerous times, is HIGHLY manipulated. I invite anyone on here to purchase some common gold or silver coins today using your strong dollar. And I mean you get delivery today, and you get it for spot. Go ahead, I'll wait...

Gold and silver are metals that require physical possession, or an impeccable reputation. The first no one here has attempted. The second, no one in the paper market has. Yes, you can inflate any paper, doesn't matter what's it's purported to represent, because it is fiat, a representation, not the real thing.

This is true. You cannot trust the gold and silver paper market, it's backed by nothing and thus heavily manipulated, usually on the short side. Not a big fan of owning precious metals for usability reasons, but you cannot go by the price of gld or slv other than actively trading it, it has little relation to the actual physical price of gold on the streets.

Cash says

I see spot anywhere
between 15.5 and 13

What do you suppose the premium will be if you want to buy coin?

the buying price for Silver eagles is currently Spot plus $10+, Maples $7+, and generic rounds $5+. Even 100 ounce bars are going for $3+ over spot. What does spot even mean anymore?

I suspect the spot price will eventually go down to near zero with a huge premium if you actually want to own metal.

Onvacation says

I suspect the spot price will eventually go down to near zero with a huge premium if you actually want to own metal.

Actually the opposite. Premiums always disappear as prices rise. This is because eventually no one gives a shit which coin it is, as long as they can get their hands on some gold or silver. So go for whatever gives you the most ounces now.