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What are you all paying for 90% junk?
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<p>[QUOTE="Tinpot, post: 2313585, member: 35836"]It just depends though, many of the big online only dealers actually have pretty low margins. For example at times they'll be paying $.10 over spot for .999 bullion and selling it for .59-.79 over. (a 3-5% spread)</p><p><br /></p><p>Right now Provident Metals is selling their 1 oz "provident metals" gold bar for $1101 and buying it back for $1081, less than a 2% spread.</p><p><br /></p><p>Looks like their best spread on a 1 oz silver round is there "prospector" round being sold for $14.85 in any quantity and being bought back for $14.11. A 74 cent spread which comes out to a little over 5%</p><p><br /></p><p>I'd agree though that having a "presence" can be a strong indicator of a large spread, although it doesn't seem to apply to the same degree to online dealers who for the most part have very competitive pricing.</p><p><br /></p><p>Most of the ones advertising on TV (if not all) have absolutely ridiculous spreads. Probably a similar story (although probably not to the same degree) with most who take out the large newspaper ads.[/QUOTE]</p><p><br /></p>
[QUOTE="Tinpot, post: 2313585, member: 35836"]It just depends though, many of the big online only dealers actually have pretty low margins. For example at times they'll be paying $.10 over spot for .999 bullion and selling it for .59-.79 over. (a 3-5% spread) Right now Provident Metals is selling their 1 oz "provident metals" gold bar for $1101 and buying it back for $1081, less than a 2% spread. Looks like their best spread on a 1 oz silver round is there "prospector" round being sold for $14.85 in any quantity and being bought back for $14.11. A 74 cent spread which comes out to a little over 5% I'd agree though that having a "presence" can be a strong indicator of a large spread, although it doesn't seem to apply to the same degree to online dealers who for the most part have very competitive pricing. Most of the ones advertising on TV (if not all) have absolutely ridiculous spreads. Probably a similar story (although probably not to the same degree) with most who take out the large newspaper ads.[/QUOTE]
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