Standard "over spot" price when dealing with physical silver

[General of Darkness]

Is there a formula? Seems like a buck over spot when it gets close to 20, and about 1.30 when it was around 10. Is there a formula or is it just negotiations?

[Steal]

I try not to go more than .50c to .75c myself. Depends where you buy though and if you account for shipping cost. I do not have any good sources local (massive markup) asked a guy in a new coin shop how much for 90%, he thought I ment selling and said 8xface. Buying was 14xface. So , I have to buy online. Best bang for the buck (IMO) is on nucleo 10 oz bars. spot $17.90, put $179.35, put one at $179.85, maybe one at $180.25. Not everyone has in inventory, so in order to mail, need at least 5-10 sold to account for your end of shipping registered to them. A $179.35 bar is actually $181.14 +shipping, after all said and done. So, about $18.11 oz or .21c over spot. BUT like I said, have to check out alot. people will put in bid at $179.36 and need to get a feel for current market, any panic selling etc.

Apmex usally dollar over spot, give or take a sale. Ebay, ...we wont go there.

[General of Darkness]

I try not to go more than .50c to .75c myself. Depends where you buy though and if you account for shipping cost. I do not have any good sources local (massive markup) asked a guy in a new coin shop how much for 90%, he thought I ment selling and said 8xface. Buying was 14xface. So , I have to buy online. Best bang for the buck (IMO) is on nucleo 10 oz bars. spot $17.90, put $179.35, put one at $179.85, maybe one at $180.25. Not everyone has in inventory, so in order to mail, need at least 5-10 sold to account for your end of shipping registered to them. A $179.35 bar is actually $181.14 +shipping, after all said and done. So, about $18.11 oz or .21c over spot. BUT like I said, have to check out alot. people will put in bid at $179.36 and need to get a feel for current market, any panic selling etc.

Apmex usally dollar over spot, give or take a sale. Ebay, ...we wont go there.


So correct me if I wrong, it sound like usury to a certain degree, and you should bargain.

[1970 Silver Art]

Honestly, it just depends on where you go. My local dealer usually charges me $1.50 over spot and sometimes as low as $1.25 over spot but then again I do not buy much silver. I only buy a few oz's of silver at a time. If I go to a coin show, then I might find premiums that range from $0.75 to $2.00 over spot. With some places, you can negotiate on the premium but sometimes you will just have to shop around and see what local dealers and/or online dealers can do in terms of silver premiums. When it comes to ebay, it can be almost any premium over spot.

Standard "over spot" also depends on what type of silver you are buying.

[Grog]

Standard "over spot" also depends on what type of silver you are buying.


Exactly, if you are buying SAE, Libertads, or Lunars then expect a premium. 90% junk and ugly rounds low to no premium.

The premium on SAE is about a buck and a half around here. Junk and rounds are spot or a few cents higher depending on what it is. Those ugly graduation rounds are spot but the prospectors are about .50 over. Roosevelt dimes are spot but old barbers are higher.

I have a mix but like 90% junk the best. I like mercs and morgans so I pay a little more.

Grog

[Grog]

One more point in this matter, my method of operation is to buy junk locally and buy more modern stuff on APMEX. Total cost, tax, shipping, etc is better for APMEX on SAE and Maples for me.

APMEX can't touch my local dealer's junk prices. Especially since I can hand pick through the buckets. ;)