Silver pricing

[Holt0222]

So I was looking at the price of silver yesterday and I noticed the prices were all over the place based on which site I went through. Is there a standard pricing that a dealers go through.

 

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[galenrog]

Short answer: No

Long answer: Each dealer has their own criteria for both buying and selling.

Time for more coffee.

 

[Holt0222]

So if I am going to be buying silver which should I use. Should I go the cheapest one or is there a more standard one.

 

[Kantuckkeean]

The spot price is what major buyers/sellers use and a lot of sites have the live spot price. Spot price fluctuates throughout the day. Dealers usually sell based on spot plus a premium (e.g. 10 oz. bars as low as $0.69/oz. over spot). Usually, the more you buy, the lower the premium, although sometimes any quantity will have the same premium. So for the above example, if spot is $14.25, you’d pay ($14.25 + $0.69)*10 = $149.40 for each 10 oz. bar.

Kindest regards,
Kantuck

 

[Holt0222]

I understand that, but when I look at the major sellers they all have different spot prices. It usually is within a $.20 range but still.

 

[Kantuckkeean]

I understand that, but when I look at the major sellers they all have different spot prices. It usually is within a $.20 range but still.

Some of their sites must be slow to update.

Kindest regards,
Kantuck

 

[jailbirdjackson]

Also there's a 'bid' price and an 'ask' price. Seems that maybe there is a big spread between bid and ask. Anyway, I think price is somewhere between the bid and ask.

 

[Kantuckkeean]

The bid is theoretically what the dealer will pay. The ask is theoretically what the dealer sells at.

Kindest regards,
Kantuck

 

[A2coins]

I buy the 1 oz silver bars by a well know maker that's all I can afford but have many from years of doing this. I hope silver goes up by the time my Kids are older!!!!!!!

 

[Mackaydon]

My 'old school' LCD uses a chalk board to post various buy/sell silver prices during the day; a few cents either way doesn't seem to phase him--and that's why I've stayed with him for a dozen years.
Don.....

 

[Red James Cash]

You have to ask yourself.What difference 20 cents makes.Not a hell of a lot.What can you buy with 20 cents nowadays,not a Damn thing .