I think they are one of the few companies that back each paper ounce they sell with physical? In other words, if you wanted to get your paper converted to silver, they will do this. So for those that don’t know this, normally if you buy SILVER STOCKS you would think that you can walk in and hand over your certificates and walk out with the physical silver. In 99% that is not so. It’s more like 1 ounce of physical silver to 75-100 ounces of paper. You’re competing with another 75-100 people to get that 1 ounce!! Try doing that if your NOT with First Majestic. Good move! Congratulations!!
Your understanding / explanation is incorrect. FM do not sell "paper ounces" (that's the COMEX). Shares in a mining company are not silver certificates or anything of the like, it's just equity in the company, just like any other equity stock.
FM do have an attached store where they sell their refined / minted silver directly to retail customers and do give a discount to purchasers who are also stock holders I believe.
Perhaps you're thinking of an ETF like Sprott (PSLV)
My calls on First Majestic silver are up 72% in the last week.
I think they are one of the few companies that back each paper ounce they sell with physical? In other words, if you wanted to get your paper converted to silver, they will do this. So for those that don’t know this, normally if you buy SILVER STOCKS you would think that you can walk in and hand over your certificates and walk out with the physical silver. In 99% that is not so. It’s more like 1 ounce of physical silver to 75-100 ounces of paper. You’re competing with another 75-100 people to get that 1 ounce!! Try doing that if your NOT with First Majestic. Good move! Congratulations!!
Your understanding / explanation is incorrect. FM do not sell "paper ounces" (that's the COMEX). Shares in a mining company are not silver certificates or anything of the like, it's just equity in the company, just like any other equity stock.
FM do have an attached store where they sell their refined / minted silver directly to retail customers and do give a discount to purchasers who are also stock holders I believe.
Perhaps you're thinking of an ETF like Sprott (PSLV)