Let's get back on topic a little. I want to know from a REAL dealer or someone who has serious knowledge CASHING in Silver, raw, slabbed, ingots, etc... Here is a perfect example: I walk in with a slabbed MS70 PCGS 2009 American Silver Eagle. I also have a slabbed MS69 PCGS 2009 American Eagle, I also have a nice BU raw 2009 American Silver Eagle. How much is a dealer going to pay for each of those? Sure, Dealers are all different, and I would like to hear from expieriance. I do know this as FACT.!! If you are a distributor for the US Mint, You MUST SELL TO ANYONE WHO WANTS TO BUY BOTH SILVER AND GOLD, AT THE CURRENT SPOT PRICE (and adding a little premium, but I believe It's NO MORE than 2%, if I remember correctly), no matter how much it has dropped or raised.!! This is written into their contract, and can be read on their website. You can also search on the U.S. mint site for your local distibutors. I found mine, but for some reason, when prices drop, they seem to not have any? Well, that just isn't they way the US Mint wants them to operate. But saying that, They are set-up NOT to lose money , no matter what happens to the spot price..... Let me explain this......(and this is my understanding reading the contract) The U.S. Mint sets up the account with the retailer/distributor. Now , when someone comes in to buy a , let's say a Silver Eagle coin.. Let's say Silver spot price that day is $16.00, OK, the dealer say's ok, I will sell you one at $18.00. (I am not sure of the mark-up, as I haven't read the contract in about a year, but it is something like 2.00 or a small %). Anyway, you buy it. NOW, the dealer/retailer/distributor is supposed to NOW buy another coin right away from the U.S Mint/distributor for $16.00 to replace that coin. Now,Let's say tommorrow, silver spot price drops to 12.00 an ounce. A person comes in to buy a ASE. Dealer is suppose to sell it at 12.00 spot plus their small premium.!! OK, you buy it at let's say 14.00, Dealer is suppose to buy from mint at 12.00 to replace that coin. I know this sounds confusing, and I may have some of the facts confused a little, but that is HOW it is supposed to work. !! Maybe the distributor is someone like Ampex, or some huge distributor , and maybe the local dealer is buying from the distributor. (I did ask my local B&M, who is Listed on the US mint site as a US MINT retailer) But they told me, they don't want to lose money, as they bought the silver at a higher price?.... Anyway, that is the jist of it, and if someone can explain it to us or me more clearly, that would be greatly appreciated,. I will also, re-read the contract tommorrow, as I have other work related things to do.