Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at the rising price of silver. (See the Precious Metals section.)
Precious Metals:
The shortage of physical silver in the U.S. has been continuing since market demand turned sharply in March. Consequently, dealer premiums have been high, and the available selection of coins has been pitifully small. Today’s market is a classic “beggars can’t be choosers” situation. Even old, tarnished random year “Christmas Rounds” (the familiar 1-ounce annual issue coins from commercial mints) are selling for as much as $8 over spot. And I’ve seen U.S. Mint Silver Eagles selling at as much as $15 over spot. Ouch! When I last checked, I saw that Gainsville Coins has a more reasonable $9 per coin premium, if you buy Silver Eagles in full U.S. Mint 20-coin tubes. That works about to about $703 per tube. Meanwhile, APMEX sells the same 20-coin tubes for around $739. But be sure check shipping costs before you order, regardless of where you buy. Those costs can vary widely! And, as always, try to place your order on a “dip in the market” day.
Economy & Finance:
Euro zone, economic recovery falters in August
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The latest podcast, over at Wolf Street: THE WOLF STREET REPORT: The Zombie Companies Are Coming