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Message:: [QUOTE="GDJMSP, post: 957569, member: 112"]Right there is the mistake in your thinking. Coins do not have a value at or above spot. They have a value below spot every single time. For example, if the spot price is $18.00 do you think you walk into a shop and buy an ounce of silver for $18.00 ? You can't. It's going to cost you somewhere between $18.90 and $19.80 - maybe more. In a similar fashion if you go to sell an ounce of silver you aren't going to get $18.00 either. You're going to get about $16.20. It's the same thing with coins, or more so. The spreads are even larger. That's because of the cost that is involved with refining - and - because of the quantity of what you are selling. The spot price of $18.00 is based on a 1,000 ounce bar of silver. If you buy less than 1,000 ounces that price goes up proportionally. That's why if a dime has $1.30 worth of silver in it a dealer will only give you a $1 for it. But take in a $1,000 bag of dimes and you'll get more like $1.15 per dime. Now those numbers may not be exactly accurate, but you get the idea. The two things that play into the spot price of silver (or any metal) are quantity and purity. But even if you walk into a shop with 1000 ounces of silver you are not going to get the full spot price. You get approximately 10% less than the spot price. Dealers, any dealer, sells for over spot and buys for under spot. That's how it will always be.[/QUOTE]