Just saw at Provident metals, as I continue looking into investing a little in silver bullion, their provident 10 oz bars are .80 over spot? With free shipping? Something I'm missing? Seems a no brainer if all one wanted was bullion to snap some up. Other bars go for more, but seems little reason to pay more for something that won't really be of benefit to a collector rather than investor.
Well it's .80 or when I just checked (.74 cents) over spot per ounce. Also when selling generic bars like these to the average dealer the offer is likely to be back of spot. So it would take silver reaching 15.25 an ounce just to recover the premium paid in value of the metal itself. But realistically the spot price would need to be even higher to recover the premiums paid when actually selling.
Yeah but it's not as bad compared to generic rounds or bars. Silver Eagles are just an easier sell for a dealer.
Personally, I don't like/trust generic rounds. (if I don't, the next person might not) I prefer Engelhard, Matthey or gov't issued. http://www.jmbullion.com/100-oz-rcm-silver-bar-new/ http://www.jmbullion.com/10-oz-royal-canadian-mint-silver-bar/
Not necessarily; it depends on the seller and can actually be worse. One must remember that not all dealers/sellers, particularly in person, are the same, and it's certainly not unheard of for there to be a larger spread between buy and sell on premium types than generic. The premium paid is not always equal to one received when selling, or always smaller than on generic. Often, yes... but not always. There are plenty of buyers who prefer generic for the simple fact it's usually cheaper, and there are those who refuse to pay ASE (or the like) premiums and will only purchase when they can do so at generic prices. There are no absolutes. Don't get me wrong here; I'm not saying you're incorrect, but only that things are not always so simple, and considering the OP is newer (iirc), it's only fair to make this clear.
