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Please do the math every time you buy: It's rarely a good deal
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<p>[QUOTE="myownprivy, post: 3862952, member: 84588"]Please, please, when you are buying silver do not pay attention to the dollar premium. It will mislead you into thinking you are getting a good deal. "Only $2 over spot!" Do basic math instead. </p><p><br /></p><p>Information like that is irrelevant. You must calculate the percentage over spot to determine if you are getting a good deal. The price of precious metals will always change. Consequently, $2 over spot one day might be a great deal, another day an ok deal, and another day a ripoff. </p><p><br /></p><p>If your American Silver Eagle is on sale for $2 over spot, and spot is $16.80, that's a bad deal to pay $18.80.</p><p><br /></p><p>The math: </p><p>Price divided by spot equals premium</p><p><br /></p><p>$18.80/$16.80=1.119</p><p><br /></p><p>That means you're paying an 11.9% premium! Please, do the math every time you buy.[/QUOTE]</p><p><br /></p>
[QUOTE="myownprivy, post: 3862952, member: 84588"]Please, please, when you are buying silver do not pay attention to the dollar premium. It will mislead you into thinking you are getting a good deal. "Only $2 over spot!" Do basic math instead. Information like that is irrelevant. You must calculate the percentage over spot to determine if you are getting a good deal. The price of precious metals will always change. Consequently, $2 over spot one day might be a great deal, another day an ok deal, and another day a ripoff. If your American Silver Eagle is on sale for $2 over spot, and spot is $16.80, that's a bad deal to pay $18.80. The math: Price divided by spot equals premium $18.80/$16.80=1.119 That means you're paying an 11.9% premium! Please, do the math every time you buy.[/QUOTE]
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Please do the math every time you buy: It's rarely a good deal
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