Actually, it was selling for a significant premium up until about a month ago. The reason: shortage of actual inventory. One dealer near me was paying 12X face (for silver US coins) when spot was only 10.2 or so. He need stock for delivery. As far as now? No idea, where did you get your prices. I understand, locally at least, that the premium is way down. And, if I haven't said it before, welcome to the forum.
Thank You . I have been bidding on silver rounds and bars on ebay and when i bid at spot price or alittle over spot price i get out bid right away ?
Okay, there is your problem immediately! You are on eBay! Seriously, there is and will always be some kind of premium over spot for silver. The important thing is to minimize your 'surcharge'. I bid neat spot, including postage, unless I really want the piece. Sometimes I get it, most times not. Just bid a lot, and you'll eventually get some.
were can i buy .999 silver coins and bars in small amounts for spot price or near spot price with out getting riped off ?
Well, ask around, we have a number of dealers here who may be able to help you out. Good luck. Just read some posts, see who the dealers are and PM them. or they may just answer this thread. But! Do not post offers to buy or sell on the thread. That is a NO-NO. Just PM the individuals. also, read this thread, that I jsut noticed: http://www.cointalk.com/forum/t58242/
You can get generic rounds for as little as $.99 over spot from Apmex but you pay S&H so make big orders to cut yout expenses. https://www.apmex.com/Category/754/Silver_Bars__Rounds_Brand_New_ONLY.aspx
To answer one of your original questions, the spot price is the paper price for silver. It's established in the futures market where only a tiny number of contracts are settled in metal and most are settled in cash. Also, coin silver is one of the highest and best uses of silver. Coin silver has a known weight and purity and doesn't require an assay, so it is worth at least some premium over a 1000 ounce bar that requires storage fees and possibly an assay if it is removed from a Comex warehouse.
Thank You and yes i am still looking for good places to buy silver but i see the spot price is droping more every day . I thought silver was on the rise ?
Silver is highly volitile. Some analysts make convincing claims that it is a rigged market. I don't worry about whether the price is $12 or $18 because I'm pretty convinced that in ten years it will be much higher. So the dips become buying opportunities.
Hi i was thinking that when the price droped that something was going on that i did not know about . But yes lower prices bring great buying prices also . Thank YOU FOR YOUR REPLYS .
