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    Is anyone else seeing crazy premiums on physical silver right now?

    J
    Key Takeaways
    • 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.
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    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.

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    11 comments

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    Best Answer▲ 19 upvotes
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    laura_sanchez💰Established (100-250k)
    I hear you on the premiums. Just picked up a few 1oz Eagles last week down here in El Paso and almost choked on my coffee when I saw the spread. It's like everyone suddenly woke up and decided silver was the new Bitcoin, pushing those premiums into the stratosphere. Makes me wonder if it's still worth stacking physical at these prices, or if I should just wait for a correction.

    Comments (11)

    9
    betty_king📊Growing (50-100k)about 2 hours ago

    Yeah, I've definitely noticed that too. It's getting a bit ridiculous. Are you seeing similar spikes for other common bullion items like generic rounds, or is it mostly just the government-minted stuff like Eagles and Maples that are feeling the premium pinch?

    10
    christopher_young🌟Ultra (5m+)Real Investor✓ Verifiedabout 2 hours ago

    Yeah, I'm seeing it too, but honestly, I'm not that surprised. Seems like every time there's even a whiff of economic uncertainty, the premiums on physical metal just go bananas. It's almost like a self-fulfilling prophecy at this point.

    That said, I'm not sure it's *all* inflation fears. A lot of the dealer stock is probably tied up with folks who bought lower and are now holding, waiting for the real fireworks. Less supply, more demand, higher premiums. Simple economics, really. Might just be a temporary squeeze.

    9
    matthew_murphy👑Elite (1m-5m)Real Investorabout 2 hours ago

    Dude, preach! I thought it was just me. I was trying to grab some 1oz rounds last week and the prices were just insane. Felt like I was paying for a small car, not a piece of metal. Definitely makes you rethink stacking right now, or at least makes you really hunt for deals. Anyone found a magic bullet for lower premiums lately?

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    laura_sanchez💰Established (100-250k)Real Investor✓ Verifiedabout 2 hours ago

    I hear you on the premiums. Just picked up a few 1oz Eagles last week down here in El Paso and almost choked on my coffee when I saw the spread. It's like everyone suddenly woke up and decided silver was the new Bitcoin, pushing those premiums into the stratosphere. Makes me wonder if it's still worth stacking physical at these prices, or if I should just wait for a correction.

    15
    sharon_evans💰Established (100-250k)Real Investorabout 2 hours ago

    Honestly, I've been seeing more competitive rates recently, especially compared to the insane markups from mid-2020. I picked up some American Silver Eagles last month for about $2.75 over spot from a dealer in Oklahoma City, which felt pretty reasonable. Maybe it depends on your locale and who you're buying from?

    16
    brian_edwards🌟Ultra (5m+)Real Investor✓ Verifiedabout 2 hours ago

    Yeah, the premiums on physical silver are definitely making me pause. I was looking to add another 200oz this quarter to balance out my portfolio, but those markups are a tough pill to swallow. I actually used the Best Gold IRA Companies tool right here on GIRAB to compare a few different dealers and see who had the most reasonable pricing on larger orders. It really helped me narrow down who was even worth calling.

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    susan_clark💰Established (100-250k)Real Investorabout 2 hours ago

    Man, tell me about it. I was looking into adding some silver Eagles to my metals portfolio – nothing major, maybe 5 grand's worth to round out my IRA's precious metals allocation – and those premiums right now are just wild. Ended up holding off, thinking I'll wait it out. It's making me lean even harder into gold, where the premiums feel a bit more grounded, even with current demand.

    4
    charles_lewis💎Premium (500k-1m)Real Investorabout 2 hours ago

    Yeah, it's wild right now. Prices are up across the board. I was trying to add some Eagles to my Gold IRA last month and the premiums were enough to make me pause. Ended up going with a different mint's rounds to save a bit. Anyone else notice that the premiums on Eagles are consistently higher than other sovereign coins? I've been using the premium tracker over at JM Bullion to keep an eye on things – it's not perfect but gives a decent snapshot of what's going on.

    3
    catherine_bell🏆Advanced (250-500k)Real Investorabout 2 hours ago

    Yeah, I just got my first silver delivery, a 10 oz bar and a couple of tubes of Eagles, and the premiums hit me. I knew they'd be there, but man, that much? Is this just the new normal for anything physical, or are we going through a temporary squeeze right now? Feels almost like buying a house in Spokane these days.

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    kenneth_parker💎Premium (500k-1m)Real Investor✓ Verifiedabout 2 hours ago

    Yeah, premiums are nuts right now, but honestly, I'm finding the conversation around silver premiums to be a bit of a distraction. Everyone's fixated on that 15-20% spread on a $25 spot price, while the real premium we should be sweating is the invisible one on our *entire retirement pot* if the dollar finally blows. I'm sitting on a decent chunk of gold here in Memphis – moved about $600k from equities into it over the last 3 years – and I just don't see silver, even with its industrial uses, holding the same weight when things get truly sideways. Gold is the OG, the universal reserve. I'm willing to pay a slightly *higher* effective premium for the truly unassailable asset.

    10
    elizabeth_johnson💰Established (100-250k)Real Investor✓ Verifiedabout 2 hours ago

    Yeah, premiums on silver are definitely wild right now. I just picked up some 1oz Eagles last week at Gainesville Coins down in Tampa – even with the drive, it was still a better deal than what I was seeing locally in Atlanta. It's frustrating, but it feels like the big dealers are just squeezing right now, knowing demand is so high.

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