expired Posted by bridge12219 • Feb 16, 2024
Feb 16, 2024 10:33 PM
Item 1 of 1
expired Posted by bridge12219 • Feb 16, 2024
Feb 16, 2024 10:33 PM
Costco Members: 20-Count 1 Troy Ounce American Eagle Silver Coin (2024)
+ Free Shipping$550
$550
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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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How exciting!
Wait, do they do this with special $100 bills too? Can I buy fresh $100 bills for $117 each? Please do share if so!!
I'm aware eagles sell over spot. That said, there is no realistic way to liquidate these coins without a meaningful loss in value, time, or both.
Over the last ten years the value of silver is, essentially flat, sitting between 20-$25/ounce spot since the early teens. If you account inflation, it's arguably a loss long term.
Again, buying in, effectively underwater, on a poor performing asset seems absurd, especially with guaranteed 5% high yield savings account at the moment.
"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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The bottom line is even with these coins you will receive BELOW spot price when you sell.
SILVER:
Spot price now is $23.39 (irrelevant)
Kitco will PURCHASE these coins at $22.39.
Costco sells these for $27.50.
You are paying a 22% premium over resell price.
Just for comparison against gold....
GOLD:
Spot price now is $2013.20 (irrelevant)
Kitco will PURCHASE gold coins at $1998.20
Costco sold gold coins at $2070 (should be much lower now so this is an inflated price)
Gold is 3.05% premium over resell price. Even with current Kitco sales price on gold coins now, it's a 5% premium over resell price.
Gold is a much better deal. Silver really is the "poor man's gold" and poor people pay more for everything.
I'm sure someone will mention Bitcoin now.. heh
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The bottom line is even with these coins you will receive BELOW spot price when you sell.
https://www.facebook.co
The bottom line is even with these coins you will receive BELOW spot price when you sell.
SILVER:
Spot price now is $23.39 (irrelevant)
Kitco will PURCHASE these coins at $22.39.
Costco sells these for $27.50.
You are paying a 22% premium over resell price.
Just for comparison against gold....
GOLD:
Spot price now is $2013.20 (irrelevant)
Kitco will PURCHASE gold coins at $1998.20
Costco sold gold coins at $2070 (should be much lower now so this is an inflated price)
Gold is 3.05% premium over resell price. Even with current Kitco sales price on gold coins now, it's a 5% premium over resell price.
Gold is a much better deal. Silver really is the "poor man's gold" and poor people pay more for everything.
I'm sure someone will mention Bitcoin now.. heh
It's less than $2.00 per gallon.
So how much should a barrel of oil cost you?
Diesel is $4-5 dollars per gallon at the pump
The spot price of silver is not the same as retail.
It's less than $2.00 per gallon.
So how much should a barrel of oil cost you?
Diesel is $4-5 dollars per gallon at the pump
The spot price of silver is not the same as retail.
You are comparing crude oil price to refined product from crude oil, aka Diesel?......
I can guarantee you a metric ton of gold bearing ore is also cheaper than 1oz of refined gold......
Silver Metal Performance History
February 16, 2024 3:01 AM EST
Time Price Change Change %
1 Day $22.96 +0.079 +0.34%
14 Days $22.69 +0.32 +1.41%
1 Months $23.64 -0.634 -2.68%
6 Months $22.56 +0.448 +1.99%
1 Years $23.80 -0.79 -3.32%
5 Years $17.86 +5.148 +28.83%
10 Years $15.70 +7.309 +46.57%
15 Years $16.84 +6.165 +36.61%
Understand what you are talking about before posting. Just sound like a troll who knows not what he talks about!!
Whatever the fate of fiat, "precious" metals, and crypto, we're surely gonna be in for a hell of a ride in the next few years to decades, unlike anything humanity has ever seen. It's gonna be a rude awakening for most of us.
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