I've bought from Apmex - and recently noticed their prices don't really
follow spot...

I should put together a graph comparing the silver/gold spot
vs APMEX prices for American Eagles..

The actual price doesn't wander too much, as the supply & demand econs
kinda make it that way...
1 - when spot is low, demand is high -- margin is high, and price stays
high
2 - when spot is high, demand is low -- margin is low, but price is still
therefore at high point

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Goes Unpunished