We wanted to take this opportunity to address our loyal and valued customers to inform you that the silver coin market has changed in recent months, which has resulted in a silver coin shortage and an increase in premiums. This was beginning to occur prior to the recent drop in the price of silver, but has dramatically increased over the past couple of weeks.
The current market conditions have made it extremely difficult to acquire silver bullion – whether it be in the form of silver coins, bars, or rounds. In response, we’ve had to substantially increase our buying rates, and are still having difficulties meeting customer demand. In particular, 90% silver coins and American silver eagles have been the most difficult coins to come by.
What does this mean for you? This means that unfortunately we’re having to pass the additional costs along to you. We don’t foresee premiums for these coins dropping into the single digits until new product is being brought to the market. Unfortunately, new product likely won’t be released until we see a spike in the price of silver.
On a positive note, as always, we’re continuing to offer silver coins at prices well below those of our competition. In fact, we’re selling silver coins to our regular customers at wholesale rates, which is substantially less than you’ll find from any other Atlanta coin dealers, or for that matter, from any online coin dealers.
We’ll continue to do our best to meet our customers’ needs while at the same time offering industry leading silver coin rates. We hope that you’ll continue to make Atlanta Gold & Coin Buyers your choice for all of your silver coin buying and selling needs and welcome you to contact us with any questions that you might have.