Pay the premium...watch Road to Roota or anyone else willing to explain what the banks have done to the value of Silver forever...there are many people out there telling the truth (much to the banks' dismay)!
Maybe I should not call it a "premium" but rather a "transaction" fee. A 20% transaction fee really scares me away from taking physical ownership of silver. When I can get gold or platinum for less than 5% in fees.
It's a risk to buy online, because if the price suddenly shoots up they'll just cancel your order, but having said that it was much cheaper for me too. Paid 600 online for 20 troy ounces and paid 144 in person for 4 non troy ounces.
You also have to be EXTREMELY careful about WHAT you buy. I started buying heavily last fall. I wanted to know about the MINTS that were striking the rounds and bars I was buying. I found several bills of lading from shipping companies where some very popular mints were buying their unstruck rounds from ... CHINA. I am not saying that these rounds are not pure, but in the last year, China has been called out for selling FAKE gold bullion. I'm not promoting anyone or calling anyone out. I will disclose that I only buy from Towne. They are a small town mint in Indiana. I researched the shit out of them before I planted that flag. I don't want to find out in 10-15 years that the .999 bars and rounds I purchased now are either impure or not actual silver. It's easy as hell to fake silver if you don't have the resources to test each piece you purchase ... which I don't.
Transportation, storage, overhead costs, and margin all need to be taken into account for the dealer. We also don’t know what basis value over or under the futures price the dealer is paying. I imagine basis values are overs right now considering the big demand for physical silver and the relatively small movement in futures prices.
If you were to take delivery of 1 futures contract it would cost you about $135k for 5,000 ounces and you would have to figure out the logistics to actually pick it up.
That is the value the dealer brings. 20% premium for physical silver is not bad at all in my opinion.
19 minutes apart! 19th president of the United States???
Honest question: Where are you getting physical silver?
Everywhere I look they make you pay at least $5 over the spot price which is almost a 20% premium...
For this reason, I have been buying gold because you can get it delivered to you for less than 5% over the spot price.
Pay the premium...watch Road to Roota or anyone else willing to explain what the banks have done to the value of Silver forever...there are many people out there telling the truth (much to the banks' dismay)!
$SLV and the banks artificially suppressing silver prices.
Not a premium when they naked short it down... for years. Knowing that, you have a buying discount.
Maybe I should not call it a "premium" but rather a "transaction" fee. A 20% transaction fee really scares me away from taking physical ownership of silver. When I can get gold or platinum for less than 5% in fees.
Looks like their 10 oz Golden State bars are $4.30 over spot. This is the best deal I have seen.
Thanks for the tip!
It's a risk to buy online, because if the price suddenly shoots up they'll just cancel your order, but having said that it was much cheaper for me too. Paid 600 online for 20 troy ounces and paid 144 in person for 4 non troy ounces.
You also have to be EXTREMELY careful about WHAT you buy. I started buying heavily last fall. I wanted to know about the MINTS that were striking the rounds and bars I was buying. I found several bills of lading from shipping companies where some very popular mints were buying their unstruck rounds from ... CHINA. I am not saying that these rounds are not pure, but in the last year, China has been called out for selling FAKE gold bullion. I'm not promoting anyone or calling anyone out. I will disclose that I only buy from Towne. They are a small town mint in Indiana. I researched the shit out of them before I planted that flag. I don't want to find out in 10-15 years that the .999 bars and rounds I purchased now are either impure or not actual silver. It's easy as hell to fake silver if you don't have the resources to test each piece you purchase ... which I don't.
Just letting you know. Buyers BE VERY AWARE.
Transportation, storage, overhead costs, and margin all need to be taken into account for the dealer. We also don’t know what basis value over or under the futures price the dealer is paying. I imagine basis values are overs right now considering the big demand for physical silver and the relatively small movement in futures prices.
If you were to take delivery of 1 futures contract it would cost you about $135k for 5,000 ounces and you would have to figure out the logistics to actually pick it up.
That is the value the dealer brings. 20% premium for physical silver is not bad at all in my opinion.