Is anyone else seeing crazy premiums on physical silver right now?
- •I've been watching the premiums on silver eagles and maples tick up over the last month, and it's starting to get a little wild.
- •I swear, a few weeks ago I could grab a tube for a decent price, but now it feels like every dealer is tacking on an extra 10-15% over spot.
- •For years, I've had about 10-15% of my ~3-million dollar retirement portfolio in silver, mostly in 1oz coins.
I've been watching the premiums on silver eagles and maples tick up over the last month, and it's starting to get a little wild. I swear, a few weeks ago I could grab a tube for a decent price, but now it feels like every dealer is tacking on an extra 10-15% over spot. I know inflation fears are driving precious metals demand, especially with all the talk about interest rate hikes and government spending, but this feels excessive even for what we're seeing.
I've got a decent chunk of my portfolio in physical, mostly gold, but I like to keep a healthy allocation in silver too for its industrial use case and higher volatility. For years, I've had about 10-15% of my ~3-million dollar retirement portfolio in silver, mostly in 1oz coins. But at these premiums, it's making me wonder if it's worth adding more right now or if I should just hold off and let the market cool down. My wife keeps giving me the side-eye when I talk about buying more physical, especially since we just finished paying off the kids' college and our NYC property taxes keep climbing. We're both retired Wall Street folks, so we're used to market swings, but this feels different.
Are you guys still buying physical silver at these elevated premiums? Or are you shifting your focus to gold, or even looking at mining stocks as an alternative? I've been eyeing some junior miners, but the risk/reward always feels a bit much, even for a former trader like me. Just trying to gauge the temperature of the room before I make any moves.