Physical Silver Scarcity/Premium Update

Posted by Gregory Monte.

For graphs showing the physical gold & silver premiums as well as the current physical gold/silver ratios compared to spot, please go to my website:

Scarcity & Dollar Cost Update

The physical Silver Eagle scarcity which began on 2/25/21 continues – as do the elevated premiums. As I noted back in February (UPDATE 2/25/21 @ 3:30 PM EST):

An interesting situation has just developed in the physical silver market. The lowest cost dealer offering 20 coin Silver Eagles tubes in quantity is Liberty Coin @ $729.28. But the next lowest cost dealer (MCM) is offering at a price way above – $826.40. After that you will find APMEX with a price of $847.42. Is something up, yet again, in the physical silver market?

Well this situation has not really improved all that much some 3 weeks later. Here is the current availability on Ebay:

UPDATE 3/15/21 @ 11:00 AM EST: Here are the Ebay dealers offering 20 coin Silver Eagle tubes in quantities of more than 10: Liberty Coin: None Available, DBS Coin: $701.55 – $35.08/coin, APMEX: $754.64 – $37.73/coin, MCM: $795.40 – $39.77/coin (129 available) & APMEX: $878.35 – $43.91/coin.

As I pointed out in previous posts, notice the large spread between the low-cost DBS Coin (2021 date tube) and the next offering by APMEX. You have to pay more than $2.50 more per coin (random year).

But it only gets worse from there. MCM appears to have a nice supply of tubes (129 available) but you are paying close to $40.00/coin in that case (for 2021 date tube). And if you want a 2020 dated tube, APMEX is charging $43.91/coin.

Premium Update

As for premiums, there has been a marked increase since just yesterday – from approximately 32% to 35%. This is due to the fact that Liberty Coin is no longer offering Silver Eagles in quantity, leaving DBS Coin dominating the low of the market. Since I started this website, DBS Coin has consistently been the lowest cost dealer.

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