Typical Spot Price on Silver

[xaeniac]

WHat is a decent spot price to pay on silver? Thanks to any that post.

 

[Lonyo]

www.xe.com

Specifically: http://www.xe.com/ucc/convert/?Amount=1&From=XAG&To=USD

 

[xaeniac]

but a shop would charge a premium on top of the spot. What is a fair price to pay

 

[EliteRetard]

Depends on what you get and where you get it...something like 40% silver coins in bulk can be had for LESS than spot. 90% coins can be had around spot, and 100% silver items can be had for as little as .2$ over spot.

As of right now,
if you just want to buy a few 40% silver dollars those would be like 9.5$ each, 90% quarters would be around 6$ each. 90% halves would go for a bit higher, around 13$ each.

 

[kranky]

If you are buying from a private party, just pay what the shops in town are paying or a little more. That makes it a fair price. If you live in a town where the local joints pay very little, then no sense paying a huge premium over that.

Here you can get about 90% of melt value when selling to shops for 90% silver coins, and 80-85% for 40% silver coins. Much less for silver jewelry.

 

[sjwaste]

Disclaimer: I know nothing about buying precious metals, don't own any, and don't plan to for any reason except if one makes a nice souvenir.

But I do frequent FWF, and from there I've learned that APMEX is a good place to buy precious metals - usually a fair markup over spot - say the knowledgeable forum members.

 

[EliteRetard]

You can make good money trading metals...if your smart enough. Ive got over $30K cash and I havn't worked in a year. Just took a vacation in florida for a few months over spring break...and now I'm going to Japan for 3 months. Living off other peoples fear and insanity is awesome.

 

[EliteRetard]

APMEX isn't bad, but buying online can be a PITA. Nobody likes to take credit cards and if they do its only for small orders and they usually charge more. So its usually wire transfers and such...way more hassle than just finding local dealers and doing cash.

 

[sjwaste]

You can make good money trading metals...if your smart enough. Ive got over $30K cash and I havn't worked in a year. Just took a vacation in florida for a few months over spring break...and now I'm going to Japan for 3 months. Living off other peoples fear and insanity is awesome.

Are you making that on physical holdings or trading something like the PHYS ETF?

Also, what'd you start with to make that 30k profit? It's a nice number, but if you needed $1M liquid to do it...

 

[EliteRetard]

Physical goods...I started with 2oz gold at $700 each and 2oz platinum at $1000 each back in like 2008. I still had a job then, but figured what the heck the stuff was on fire sale. After I lost my job I sold em for stupid good money (had a 70 rated platinum eagle) and have since made a pretty good living doing whatever, whenever I want.

Actually its been over a year, I was just noticing I got fired back in August 2010. Man time flies...

 

[dud]

I've never had a problem buying precious metals. The problem was finding someone to buy from me at a reasonable price.

 

[EliteRetard]

I've never had a problem buying precious metals. The problem was finding someone to buy from me at a reasonable price.

This will help you:
http://www.youtube.com/watch?v=qRuNxHqwazs