Wednesday, June 15, 2011

QSB vs. Apmex

7:53 am (Hawaii) I was prepared to get out of the house and get some much-needed exercise on this deadbeat market morning. But I came across two interesting things: the QSB (Quality Silver Bullion) Dutch Auction and the Apmex Flash Sale. It's interesting that when QSB has this occasional Dutch Auction, Apmex just so happens to have a Flash Sale. Hmmm...

So QSB is auctioning its 1-oz Morgan Dollar .999 Silver Bullion Rounds. It's a cool system that starts off with a $2.00 premium over current spot price. The premium decreases as the day goes on. Right now, the premium is $1.30 over spot, and spot is $35.43. So the QSB Morgan Round is going for 36.73. There are a lot (196) left before the auction closes.

Meanwhile, at Apmex, the 1-oz Silver Round (made by Apmex) is going for a flat $0.99 over current spot. That means an Apmex Silver Round is going for 36.41 right now. It's the first time I've seen this morning that the Apmex round is cheaper than the QSB Morgan. Fascinating!

I'll keep watch on these. Maybe even after I leave the house. Doesn't take much to entertain me today. The Apmex Flash Sale, btw, ends tomorrow.

Indices still bloody red: Dow -169 (-1.4%), Nas -41 (-1.5%), S&P -21 (-1.6%).

Quality Silver Bullion: Dutch Auction, Morgan Dollar 1-oz .999 Silver Bullion Rounds (June 15 2011)
Apmex: Flash Deal, Silver Round 1-oz .999 (June 15 2011)

8:07 am (Hawaii) Spot Silver shot up huge in the past 10 minutes. AGQ went from 171+ to 175+. All right, that isn't HUGE, but there's a lot of puppetry going on out there. 

I'm not looking to buy here at these prices. I'm convinced spot will go lower during these next two months and churn between 33 and 39, so it's pointless to buy at 35-36 if I'm looking for a bargain. If I'm just looking to add more physical, this is not a bad spot, imho. I added more last week already. I want to be picky and cheap. 

9:07 am (Hawaii) QSB Dutch Auction for its Morgan Dollars is down to just 56. It was 196 a couple of hours ago. 

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