My local coin shop has been selling 2014 Silver Eagles for $1 more than the older Eagles. They tell me it’s because the mint has raised their prices this year so they’re just passing on the higher cost. It looks like online retailers have 2014 Eagles slighter cheaper than the old Eagles.
What do you guys think? This shop has been great for several years – always great prices and never any shenanigans.
I think they have it backward – the 2014′s should be cheaper. But having a good relationship to your local dealer is important. Meanwhile, you need to check out the guys who provide this Silver Doctor’s website. And also look at Gainesvilles prices, too.
Has the US mint increased Eagle prices (to dealers) over the past few months? Does the mint adjust prices based on spot? If so, how often do mint prices change? (I can’t find prices on the mint website)
According to the video over the weekend the allocation to dealers was increased (i.e. the amount of coins they can get), no mention of premiums. Check trends on the mega sites, that will tell you something.
In my experience current year ASE’s are usually always cheaper to buy than previous years ones. But some dealers like to make a quick buck when there is high demand. If you don’t have a local coin dealer who will give a regular customer a good deal to keep you coming back, then shopping around online is the easiest way to see price trends.
Prices might be high early on in a year because of demand for the new date. However, come September when there’s been 25 million (or whatever) 2014 Eagles minted, I wouldn’t expect that to be the case. Nobody needs to rush out and buy them in January/February, but they do of course!
Current year issues do tend to bring a premium early in the year…until everyone gets their fill and then they revert back to a little discount since they are MUCH easier to obtain in BU rolls.
You won’t find the mint prices to distributors anywhere…that I know of…that is a closely guarded secret that only the 10 or so actual mint distributors are privy to…that is the scam! The mint only sells to a few distributors, that list can be found, and then they wholesale them to the bigger dealers who filter them down to the gen pop.
now more on the distributor scam…look at the volume of SAE sales in Feb and March…no way John Q is buying like that and that is the only avenue that a JPM, etc can buy big w/o being detected, straight from the distributor w/o any middlemen.
The CoinVault, MCM, etc big wholesalers buy the big Jan volumes but they step back after that so who is still buying BIG?
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