People have told me that price over spot is directly tied to how much inventory they have or can get. No one is telling me anything near that $2 mark. More like $10 over. And BTW lest we think the guy we are buying from is gouging, they have to pay an over spot price also to acquire it to sell to you.Thanks Mike. That's good to know! Hopefully they can give me some good info too on how they work, and their pricing structure.
I've (mostly) been paying between $4.50 and $5.00 over spot online for rounds. So far, my "secondary market" rounds have been the best deal as far as difference between spot and actual purchase price goes, with the Krugerands coming in a close second when Provident had them on sale. They've gone back to normal pricing now though.People have told me that price over spot is directly tied to how much inventory they have or can get. No one is telling me anything near that $2 mark. More like $10 over. And BTW lest we think the guy we are buying from is gouging, they have to pay an over spot price also to acquire it to sell to you.
As recently as December he (my local dealer) was selling it to me for $1.50 over spot.People have told me that price over spot is directly tied to how much inventory they have or can get. No one is telling me anything near that $2 mark. More like $10 over. And BTW lest we think the guy we are buying from is gouging, they have to pay an over spot price also to acquire it to sell to you.
My silver Krugerands that I got on sale at Provident should be here Saturday. So far, the .925 sterling rounds/bars that I just bought are the only ones that are currently showing as valued above what I paid for them, but today silver is up a little bit.These finally arrived today:
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Yu can do that with silver as well.There are "gold IRAs" available. The idea is that you have x$ in your account and you contact a dealer (provident or money metals exchange etc) and buy x oz gold/silver which is stored in a depository's vault. Instead of interest, the value of your account goes up or down depending on the value of gold or silver. Annual vault storage rates run around $1.50-1.75 in addition to IRA mgmt fees.
If you're holding cash in an IRA instead of putting it all on the stock market roulette wheel, this might be a good idea since interest rates are 0%, inflation is officially about 1.5%, and .gov is dumping another 1.9 trillion $ in "stimulus"