$2.50 over spot for silver bullion?

Just got an email from Westminster Mint - they have 1 oz rounds for $1.50 over spot, in stock. According to www.comparesilverprices.com, the best they list is at least another 0.25 premium... So worth checking out anyone who wants/needs to buy asap...

 

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If you bought silver in the 90's, this would be a good time to sell.

 

I don't worry about premiums as much as what I can buy for. Premiums are high, but when was the last time you could buy for this cheap? Over 2 years ago. Sure the net price is high compared to spot, but the same thing happened in 2008. If you want the real good deals you need to buy in bulk and count the weeks, otherwise you are still getting a nice discount regardless.

Spot price is the paper price. If you're not buying paper it's just a suggested guideline at best. Unfortunately we don't have a better price discovery mechanism because the paper price is all anybody in the market needs, right? :rollling:

 

I just picked up a little junk silver for 17.75X face, which is the best price I have bought at for a while. It may seem expensive in a couple of weeks, or it may seem cheap. Hard to tell what's going to happen.

 

That is by far the best deal I've seen on 90%. Nice score.

 

Thanks. It seems like silver may have hit a bottom, for now. I don't plan on selling much of this stuff until I retire, and that's in 5 years, so the price now doesn't matter so much. At least that's what I'm telling myself...