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Thread: APMEX Buying Over Spot Price for Gold and Silver

  1. 04-28-2010, 08:44 AM #1
    AmericasLastHope
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    APMEX Buying Over Spot Price for Gold and Silver

    I just noticed the spot price for gold is $1167.50 and APMEX is paying $1191.80 for gold eagles and silver is at $17.850 and they are paying $18.86 for silver eagles.

    Any idea what this means? Does this happen often? I'm guessing demand must be through the roof, or the paper vs. physical price is decoupling even more?
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  3. 04-28-2010, 09:18 AM #2
    GunnyFreedom
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    I'm guessing Eagles have some numismatic value?
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  4. 04-28-2010, 09:29 AM #3
    tmosley
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    Eagles are always in high demand. Due to insufficient output from the mint, they are paying higher prices to get them in stock.
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  5. 04-28-2010, 09:32 AM #4
    Original_Intent
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    Eagles are the ones that are only made from domestic production, right? So no wonder they are being bought up well above spot.
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  6. 04-28-2010, 01:13 PM #5
    Gideon
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    Quote Originally Posted by Original_Intent View Post
    Eagles are the ones that are only made from domestic production, right? So no wonder they are being bought up well above spot.
    I'm not quite sure that I understand your point, however, the U.S. Mint coined Silver and Gold Eagles are legal tender, which for some reason, people equate with legitimacy, even thought the face values are ridiculously low ($1 and $50 respectively).

    Unless specified as of foreign origin, APMEX coinage is typically mined and minted in the U.S.



    The "illegal" coin above was mined and stamped by the same mint that produces silver and gold planchets (unstamped blanks) for U.S. Mint coinage.
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