When buying .999 silver coins, what is a fair price over spot ? I know, the cheaper is the better and buy low sale high, but I am looking to invest in some 1 oz BU silver coins. Dave
20% over spot ain't too rude. Give the devil his due. 10% is better, but it don't happen all that often. Especially of late. These guys are still smarting over the run up to $40 and over. They ain't ready to admit defeat.
$2.50 or $3.50 if its U.S. Eagles, Canadian Silver leaf or another well known bullion coin. It can be discounted a little if you are buying quantities. You could even see the price for just one coin at $4 to $5 each. Unknown private mint or odd brand $2.00 over. You will loose the premium and perhaps a dollar or two when you sell. Some of the bigger bullion dealers have a spelled out buy back plan available. Some dealers won't even buy off brand or private mint bullion at all. Especially if the fineness isn't spelled out.
Comparesilverprices.com they have the % over spot for different types calculated below the actual price from several major dealers. Sometimes when they have a sale you can get generics for as low as 79c over spot. Hth.
Here in Oregon, coin shops are averaging $1.50 -$1.75 for most silver. Nicely toned Silver Eagles are around 150% - 200% over spot.
