The Low-Cost Dealers Are Back! Physical Silver Premium Declines Yet Again

Updated 4/13/21 @ 9:45 AM EST

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: http://www.didthesystemcollapse.org.


As I reported late last week:

UPDATE 4/9/21 @ 9:15 AM EST: The brief decline in the physical silver price earlier in the week has ended. Recall that it was the result of two new low-cost dealers who were not adjusting their offering prices based on the current spot price (like all other major dealers do). Instead, they were keeping their prices fixed. These dealers were Inheritance Precious Metals & Hannigan Coin. Inheritance has increased its price by more than $10.00/tube – $727.21. Hannigan is still steady at $729.98/tube.

Well, the low-cost dealers are back at it:

UPDATE 4/13/21 @ 9:45 AM EST: The physical silver premium has started to decline, yet again, because the two low cost dealers are not adjusting their prices for the increase in Spot: Inheritance Precious Metals & Hannigan Coin.

Here are the current dealer prices:

UPDATE 4/13/21 @ 9:45 AM EST: Because of the tight situation in the physical Silver Eagle market, I include a list of dealers offering coins for sale on Ebay. Here are the Ebay dealers offering 20 coin Silver Eagle tubes in quantities of more than 10:

– Inheritance Precious Metals (this is a new coin dealer on Ebay that I just noticed recently): $709.27 – $35.46/coin.

– Hannigan Coin: $733.98 – $36.69/coin (this company has other offers as well).

– APMEX: $756.49 – $37.82/coin.

– MCM: $790.20 – $39.51/coin (22 available).

– APMEX: $858.63 – $42.93/coin.

Physical Silver Eagle Premium Declines as Low-Cost Dealers Enter Market.

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: http://www.didthesystemcollapse.org.

UPDATE 4/8/21 @ 9:35 AM EST: The physical silver price has been declining over the past several days because there are two new low-cost dealers who do not adjust their offering prices based on the current spot price (like all other major dealers do). Instead, they are keeping their prices fixed. This would be Inheritance Precious Metals (this is a new coin dealer on Ebay that I just noticed recently: $712.27 – $35.61/coin) & Hannigan Coin ($728.98 – $36.44/coin). Both Inheritance and Hannigan also have other coin offers as well.

I will be watching this situation closely to see how long these dealers will be able to keep prices steady if/when the spot price keeps climbing.

Physical Silver Eagle Premium Update – 3/30/21

Updated 3/30/21 @ 1:40 PM EST

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: http://www.didthesystemcollapse.org.


UPDATE 3/30/21 @ 1:40 PM EST: While Aydin Coin came in with a low cost deal on 3/28/21, I noticed today that MCM increased its price from the low $700’s for a 20-coin tube of Silver Eagles (this morning) all of the way up to $764.40 by early afternoon. Not sure what that is all about except to say that physical inventory must be pretty tight.

Here are the Ebay dealers offering 20 coin Silver Eagle tubes in quantities of more than 10:

– Aydin Coin: $690.22 – $34.51/coin.

– Bullion Exchanges: $699.04 – $34.95/coin (Limited).

– Liberty Coin: (0 Available).

– DBS Coin: (0 Available).

– MCM: (0 Available).

– APMEX: $729.93 – $36.49/coin.

– MCM: $764.40 – $38.22/coin (50 available).

– APMEX: $835.14 – $41.75/coin.

UPDATE 3/30/21 @ 8:15 PM EST: The Spot silver price declines as the physical price increases. Very interesting. The physical premium percentage moved over 45% while the Spot price declined under $24.00. Yeah, that seems to make sense …

Possible Physical Gold Premium Signal?

Updated 3/25/21 @ 7:00 PM EST

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: http://www.didthesystemcollapse.org.


The chart which appears above shows how the Ebay (physical) price of gold differs between the lowest vs. the second-lowest cost dealer. The 90 Period Moving Average (in red) is hard to interpret but I noticed that there are certain times when this differential spikes up. I don’t know if this is an important number but I decided to include it so that visitors to this site can keep track of it.

1/12/21 is a good example. The percentage differential spiked up above 1.8% early in the day and this was followed by the physical gold premium moving above 10% by evening. Interesting …

Why This May Be Important

I decided to post tonight because the premium difference between the 1st and 2nd lowest cost physical dealers on Ebay has jumped dramatically this evening. As the graph shows, usually the spread is very low – in the range of less than 0.50 %. However, for some reason (which may be only temporary), this difference has increased to almost 3.00%.

UPDATE 3/25/21 @ 7:00 PM EST: The second lowest cost dealer selling in quantity is no longer Liberty Coin. Now APMEX has attained this slot which has increased the premium immensely. The premium for APMEX is : $245.21/14.1.9%.

Perhaps by the morning things will have settled down. I will continue to monitor this situation.

UPDATE 3/26/21 @ 7:45 AM EST: Well, things have definitely not settled down this morning. The differential between the 1st and 2nd lowest cost physical dealers on Ebay has actually increased to 3.13%. The premium for second lowest price dealer selling in quantity now appears as follows –  APMEX: $244.73/14.19% (Liberty Coin only has 5 coins available).

Physical Silver: After Short Dip to a 35% Premium, It’s Back Over 40% Now.

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: http://www.didthesystemcollapse.org.


CURRENT UPDATE: 3/22/21 @ 2:20 PM EST.

Spot Silver Price (ounce) – $25.75

Physical Silver Eagle Price (based on a 20-coin tube on Ebay): $36.82

Current Premium: $11.07/42.99%

MCM is the lowest price dealer selling in quantities of over 10, 20-coin lots.


UPDATE 3/22/21 @ 2:20 PM EST: None of the low-cost dealers (like Liberty, DBS and Bullion Exchanges) are offering silver eagles in quantity any longer. The best price is MCM: $736.40 – $36.82/coin (105 available).

Here are the Ebay dealers offering 20 coin Silver Eagle tubes in quantities of more than 10:

– Bullion Exchanges: $694.95 – $34.74/coin (Limited).

– DBS Coin: $697.10 – $34.85/coin (3 available).

– Liberty Coin: $698.22 – $34.91/coin (3 available)

– MCM: $736.40 – $36.82/coin (105 available).

– APMEX: $749.48 – $37.47/coin.

– APMEX: $873.20 – $43.66/coin.

Physical Silver Premium Jumps to 45%

Updated 3/18/21 @ 7:20 PM EST

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: http://www.didthesystemcollapse.org.


When I updated my website this evening at 7:20 PM EST, I noticed that the standard lowest cost dealer, DBS Coin, was no longer offering American Silver Eagles in large quantities any longer.

UPDATE 3/18/21 @ 7:20 PM EST: DBS Coin is no longer selling in quantities of more than 10 – 20 tube lots. The next dealer selling in quantity is APMEX at a way higher price – APMEX: $754.64 – $37.73/coin. This represents a $11.75/45.12% premium. Usually DBS Coin comes in with a lower price (in quantity) in the morning, so I will be watching to see if this is the case tomorrow. Stay tuned.

This may just be an anomaly because, as I indicate in my update, DBS Coin regularly undercuts the market on Ebay. So, I would not read too much into this – unless by tomorrow morning DBS fails to offer Silver Eagles in quantity. If this happens, then I will start to believe that we are looking at another major physical silver shortage.

Check back in the morning for another update.

UPDATE 3/19/21 @ 7:45 AM EST: DBS Coin did not come in this morning with any offers (they have no coins available) so the physical silver premium remains elevated.

UPDATE 3/20/21 @ 1:45 PM EST: Sometime over the past 24 hours, DBS Coin finally came in with a low offer for Silver Eagles which has brought the premium all of the way back down to the mid 30% range.

Trend Divergence in Shanghai Gold Fix Discount to Physical Metal

Updated 3/17/21 @ 7:30 AM EST

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: http://www.didthesystemcollapse.org.


If you look at the chart pictured above you should notice that, up until about 2/1/21, the 30-period trend lines for both the Shanghai Premium to Spot and Discount to Physical were, more or less, identical.

But at the beginning of February, you can clearly see that the yellow trend line which follows the Shanghai discount to physical gold started moving downward while the red trend line which follows the Shanghai premium to spot gold started moving in the opposite direction.

What accounts for this divergence?

Unfortunately, I can’t answer that question, but I am keeping an eye on it so that I can look back in a couple of weeks or so to possibly understand what it means.

Maybe it has no relevance at all but, in any case, I wanted my readers who didn’t notice this to be aware.

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: http://www.didthesystemcollapse.org.


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.

Physical Silver Eagle Supply Loosens Up

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: http://www.didthesystemcollapse.org.


While the supply of physical Silver Eagle coins is by no means plentiful (as I have indicated in several recent blog posts here, here, here and here), I did notice this morning that there are more offers of 20-coin tubes than has been the case over the past several weeks.

UPDATE 3/9/21 @ 10:10 AM EST

Silver Eagles are getting more plentiful again. On 3/5/21 there were only two dealers offering in quantity but now there are three (and some have multiple offers). However, I still find it interesting how there is a large jump in cost from the two low-cost dealers (DBS & Liberty Coin) and the others (MCM & APMEX).

Here is the availability on Ebay: DBS Coin: $689.36 – $34.47/coin, Liberty Coin: $696.98 – $34.84/coin, MCM: $745.80 – $37.29/coin (26 available), MCM: $794.60 – $39.73/coin (145 available), APMEX: $796.49 – $39.82/coin, APMEX: $878.97 – $43.94/coin

Physical Silver Scarcity Update

Updated 3/5/21 @ 7:40 AM EST
Updated 3/5/21 @ 7:40 AM EST

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: http://www.didthesystemcollapse.org.


UPDATE 3/5/21 @ 7:40 AM EST: The scarcity in the physical silver market is back. Currently there are only two dealers offering Physical Eagles in 20-tube quantities of more than 10 offers. This would be Liberty Coin – $685.38 – $34.27/coin & APMEX: $804.74 – $40.23/coin. Notice the very large difference in offer prices – almost a $120.00 difference. Not sure if this will last throughout the day because, quite often, DBS Coin comes in with very low prices (at least this has been the case since I started to closely follow the Ebay market since last Spring).

UPDATE @ 9:10 AM EST: Sure enough, DBS Coin came in as the lowest cost dealer – $673.38/$33.67 per coin.

UPDATE 3/5/21 @ 2:00 PM EST: DBS Coin is no longer selling in quanitity. Here are the Ebay dealers offering 20 coin Silver Eagle tubes in quantities of more than 10:

– Liberty Coin: $682.69 – $34.13/coin

– APMEX: $781.44 – $39.07/coin