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10-06-2010, 05:24 PM #1
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U.S. Mint Raises Premiums 33% to Shut Off Physical Demand
U.S. Mint Raises Premiums 33% to Shut Off Physical Demand
Commodities / Gold and Silver 2010
Oct 06, 2010 - 11:27 AM
By: Dr_Jeff_Lewis
The US Mint is acting quickly to reduce extreme demand for American Silver Eagles. Just this week, the Mint declared that it would raise dealer premiums from $1.50 per ounce to $2.00, squeezing profit margins on the coins for dealers and making physical metals far more expensive than the spot price.
Prices Change Globally
Within hours of the announcement, prices for American Silver Eagles around the world jumped $.50 as dealers prepared to pay higher prices for future silver supplies.
Similar to how gas stations raise prices before a change at the wholesale level, or how cigarette prices rise before a new tax, dealers have to allow the new price changes to set in before they actually do. In marketing, we'd call this “anchoring,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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