I note on the interwebs ASEs are going for about the same price as 1.3 generic rounds. I’m considering asking my LCS if he would consider a swap. Something like 100 eagles for 125 generic.
Thoughts? Anyone else doing this? Thoughts on a fair exchange?
Posted May 19, 2021, 6:21 PM UTC
I've been swapping high premium silver for more ounces of bars and gold. Premiums are silly high, especially on ASEs, and I don't think they're sustainable for the long term.
That would be a great trade, because eagles haven't always had this high a premium. Then when their premiums are back down to $2-$2.50 over you can get some more
Unless the mint severely curtails ASE production, the premiums probably won't hold. I do remember about 5 or so years ago ASE premiums were $1 and generics/bars were 69 cents. They could go there again unless a black swan craps on the economy. Trading down your premiums for constitutional is more to my way of thinking. Do the weights and math carefully (twice even).
If I was in your position, I would. I'd lean over to some cheaper sovereigns like britannias/philharmonics. Get more ounce for your fiat. But maybe I'm wrong.
Verdict: Brace yourselves.
On line prices for ASEs is 42+ as I write this.
Both my local guys are SELLING for $38. Both say they have no trouble getting eagles. The price spread is just not enough for a deal to be made.
Before you ask, generics are in line with internet pricing. High $31 ish.
It's 42+ if you buy using debit/credit. Merchants pass on the 2.5-3.5% + 20/30 cents the banks charge per transaction onto the customer. Stick with e-check.
Crazy high premium on ASEs... crazy low premium on beautiful Britannias.
You have to consider the fact that your dealer is probably low balling people bringing in ASEs to sell. So why would he want to offer anything close to a fair trade?