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Made my first invest today at +$1 over spot on maple leafs. Is it too good to be true?
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<p>[QUOTE="medoraman, post: 4576637, member: 26302"]In a normal market that will not be true sir. Heck, I see such items, like milk spotted, fingerprinted, or colorized ASEs at spot or less from dealers. If you can find another silver buyer maybe, from a dealer in a normal market I would say you would expect $2-3 back of spot per ounce in general.</p><p><br /></p><p>Just as a general observation, (not specific to you OP), too many people think their silver should be worth at least spot. Remember spot is for guaranteed silver quality and in a standardized shape for industrial production. Take random silver, (even if all .999), and someone has to take the risk of a fake and smelt this down and recast this in order to achieve melt from an industrial user. Therefor, they have to pay less than melt for their raw material. Once a coin ceases to be a collectible coin, it really goes from something with a premium to spot to something well below spot in value.</p><p><br /></p><p>This is why I completely stopped ever buying Canadian products, even for silver. Now I see how bad philhamonics are, I will make sure never to buy them either, again even if for junk. Its a big hit going from coin bullion silver to "melting silver" in terms of premiums.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 4576637, member: 26302"]In a normal market that will not be true sir. Heck, I see such items, like milk spotted, fingerprinted, or colorized ASEs at spot or less from dealers. If you can find another silver buyer maybe, from a dealer in a normal market I would say you would expect $2-3 back of spot per ounce in general. Just as a general observation, (not specific to you OP), too many people think their silver should be worth at least spot. Remember spot is for guaranteed silver quality and in a standardized shape for industrial production. Take random silver, (even if all .999), and someone has to take the risk of a fake and smelt this down and recast this in order to achieve melt from an industrial user. Therefor, they have to pay less than melt for their raw material. Once a coin ceases to be a collectible coin, it really goes from something with a premium to spot to something well below spot in value. This is why I completely stopped ever buying Canadian products, even for silver. Now I see how bad philhamonics are, I will make sure never to buy them either, again even if for junk. Its a big hit going from coin bullion silver to "melting silver" in terms of premiums.[/QUOTE]
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Made my first invest today at +$1 over spot on maple leafs. Is it too good to be true?
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