Did The System Collapse?

Did The System Collapse?

10/28/20 @ 7:20 PM EST

LAST GRAPH UPDATE: 10/28/20 @ 7:20 PM EST.

Spot Price (Goldprice.org): $1,877.43

Physical Price (Ebay Lowest Buy Now Price From Dealer Selling Multiple Coins in quantities of more than 10) – APMEX – $2,022.79

Dollar Premium: $145.36

Premium Percentage (Physical/Spot): 7.74%

Second lowest price dealer selling in quantity is Liberty Coin: $2,024.14/7.81% Premium).


Since the Corona Virus Pandemic Scare started making headlines, the premium on physical gold has increased phenomenally. I used to be able to get a 1 ounce Gold Eagle for about $75.00 over spot. Now, I usually have to pay more than $200 over spot – at least until lately (see Recent Developments below).

You could have purchased a 2011 Gold Proof Eagle in Box on December 8, 2019 for $1,540.88 when the spot price was $1,459.10. This was $81.78 over spot which represented a 5.6% premium.

Times have undoubtedly changed …

Why do I call this site Did The System Collapse? Click on the About tab above for the background.

In addition to the gold physical/spot premium I am also posting updates about the physical silver premium as well as the physical gold/silver ratio.

If you want to receive a daily summary of the gold price premiums, you can sign up to receive this email by filling out the form at the bottom of this page.


RECENT DEVELOPMENTS IN THE PHYSICAL GOLD MARKET

  • Notice in early April that there were several large dips in premium. These were daily dealer specials which have not appeared since.
  • The physical premium hit a high on 4/21/20 – $232.27/13.77%
  • On 4/29/20 the premium price fell below $200.00 per ounce and has remained there since.
  • On 4/29/20 the premium percentage fell below 12%.
  • Since 5/6/20 the premium percentage has been below 11%.
  • On 5/10/20 the premium percentage went below 10% and, despite a brief move back above (on the mornings of 5/12/20 & 5/13/20), it is now back below 10%.
  • On the morning of 5/25/20 the premium went back above 10%.
  • On the afternoon of 5/26/20 Pinehurst Coin offered a “daily deal” which brought the premium back under 10%. The “deal” continued into 5/27 when Liberty Coin undercut Pinehurst bringing the premium even lower It has now dipped below 9%.
  • The premium went back above 9% on 5/31/20 but didn’t stay there long as the very next day it dipped below.
  • The premium went below 8% for the first time on 6/8/20. It danced above and below 8% for the next week or so until on 6/17/20 it settled firmly below the 8% threshold.
  • The premium first went below 7% on 6/24/20 and remained there until it went below 6% on 7/1/20. It remained in the low 6% area until gold and silver started rising toward the end of July. The premium is now above 8%.
  • So much has happened since I last updated this section of the website. As I type on 10/6/20, the physical gold premium has remained in the high 7% to low 8% range since the middle of August 2020. Clearly, physical premiums have remained subdued since the Corona virus scare.
  • As of 10/15/20 this premium has still remained in the 7-8% range.

Written by: Gregory Monte

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