You're comparing it to spot price. Spot silver prices are based on the price per oz for five 1000 oz bars, not individual 1 oz bars. The 1 oz coins and bars generally sell for a bigger premium over spot. It's basically like wholesale versus retail pricing associated with buying much smaller quantities. If you ever see a reputable dealer selling 1 oz coins at spot with no strings attached, a thread like that would totally blow up. The closest that you'll usually see is a seller offering a small number of them at spot price as an intro deal to attract new customers.
"Why Do I Have to Pay More than the Spot Price?
Simple Answer: Because "spot price" is the bulk rate for a large bar . Further, "spot price" does not include shipping, commission. or insurance to get actual precious metal into your hands. The large bars are, instead, held in a depository far away. Government and private mints buy large bars off the market and from refiners, then they produce "rounds" in the correct fineness before they are stamped out in a press under 100 to 150 tons pressure. Obviously, the smaller the coin, the more cost to mint it, per economies of scale. Analogy: A bushel of wheat costs much less than a loaf of bread; one is in the raw state, the other required careful work/cost to produce. Then, after the coins are minted, there are distribution costs that must be covered which also add to the "coin premium.""
Hey buddy, if you think you can buy physical silver at spot price, I have a beach front house in Arizona I'd like to sell you
Forums are to discuss a "deal". I'm arguing why I feel that it isn't the best value. If you only want blind agreement, perhaps you should move on.
If US dollars fail, we will be in a sort of trouble a safe full of silver eagles won't solve. That said, I'm not entirely vested in fiat either, but I don't own physical silver or gold.
...if it comes to a barter situation, I'd rather have ammunition, fuel, and food to be honest.
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This is still a good deal at this price...Big online silver dealer SD Bullion sells a similar item for $590-600. Also it's $25 more if you use paypal or credit card, which costco isn't doing.
APMEX is $622 right now and that price drops/climbs as spot prices change. Since it's the weekend, probably good at that price until Sun night. $549 is a great price if in the market for ASEs. If you just want bullion, then ASEs are not what you should be looking at.
APMEX is $622 right now and that price drops/climbs as spot prices change. Since it's the weekend, probably good at that price until Sun night. $549 is a great price if in the market for ASEs. If you just want bullion, then ASEs are not what you should be looking at.
I think your address will go straight to a "to burgle" list when the power cuts come
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02-16-2024 at 07:38 PM.
Quote
from luckydog97
:
Whoa...so, let me get this deal straight...all I have to do is buy 20 eagles at a time, and I, a normal citizen, can lock in silver at 17% above what it's worth?
You're comparing it to spot price. Spot silver prices are based on the price per oz for five 1000 oz bars, not individual 1 oz bars. The 1 oz coins and bars generally sell for a bigger premium over spot. It's basically like wholesale versus retail pricing associated with buying much smaller quantities. If you ever see a reputable dealer selling 1 oz coins at spot with no strings attached, a thread like that would totally blow up. The closest that you'll usually see is a seller offering a small number of them at spot price as an intro deal to attract new customers.
"Why Do I Have to Pay More than the Spot Price?
Simple Answer: Because "spot price" is the bulk rate for a large bar [100 oz gold or (5) 1,000 oz silver bars]. Further, "spot price" does not include shipping, commission. or insurance to get actual precious metal into your hands. The large bars are, instead, held in a depository far away. Government and private mints buy large bars off the market and from refiners, then they produce "rounds" in the correct fineness before they are stamped out in a press under 100 to 150 tons pressure. Obviously, the smaller the coin, the more cost to mint it, per economies of scale. Analogy: A bushel of wheat costs much less than a loaf of bread; one is in the raw state, the other required careful work/cost to produce. Then, after the coins are minted, there are distribution costs that must be covered which also add to the "coin premium.""
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"Why Do I Have to Pay More than the Spot Price?
Simple Answer: Because "spot price" is the bulk rate for a large bar . Further, "spot price" does not include shipping, commission. or insurance to get actual precious metal into your hands. The large bars are, instead, held in a depository far away. Government and private mints buy large bars off the market and from refiners, then they produce "rounds" in the correct fineness before they are stamped out in a press under 100 to 150 tons pressure. Obviously, the smaller the coin, the more cost to mint it, per economies of scale. Analogy: A bushel of wheat costs much less than a loaf of bread; one is in the raw state, the other required careful work/cost to produce. Then, after the coins are minted, there are distribution costs that must be covered which also add to the "coin premium.""
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If US dollars fail, we will be in a sort of trouble a safe full of silver eagles won't solve. That said, I'm not entirely vested in fiat either, but I don't own physical silver or gold.
...if it comes to a barter situation, I'd rather have ammunition, fuel, and food to be honest.
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I think more like $510
Features:
Item is Non-Refundable
Limit of 1 Transaction Per Membership, with a Maximum of 5 Units
Item is Not Eligible for Price Adjustments
Arrives approximately 3 - 5 business days from time of order.
Members Only: Warehouse pick up is available for this item and standard delivery time will apply. Please note, only the bill-to credit card addressee may pickup the product. Valid state or government-issued photo ID is required at the time of pick up.
https://www.costco.com/2024-1-oz-...40592.html
You're right, wishful thinking on my part 😀
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The country of australia sold fake gold to china
and got caught
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"Why Do I Have to Pay More than the Spot Price?
Simple Answer: Because "spot price" is the bulk rate for a large bar [100 oz gold or (5) 1,000 oz silver bars]. Further, "spot price" does not include shipping, commission. or insurance to get actual precious metal into your hands. The large bars are, instead, held in a depository far away. Government and private mints buy large bars off the market and from refiners, then they produce "rounds" in the correct fineness before they are stamped out in a press under 100 to 150 tons pressure. Obviously, the smaller the coin, the more cost to mint it, per economies of scale. Analogy: A bushel of wheat costs much less than a loaf of bread; one is in the raw state, the other required careful work/cost to produce. Then, after the coins are minted, there are distribution costs that must be covered which also add to the "coin premium.""
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