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Nickelless
Administrator
USA
5580 Posts |
 Posted - 10/08/2008 : 05:35:08
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I realize that right now with "official" spot prices being so low despite the apparent silver shortage, current figures might not be indicative of what price we could get for sterling when prices head north of $20 again, but in general, what do your dealers pay for sterling relative to spot? One dealer in my brother's town whom I've done repeat business with offered me $12 an ounce for sterling when spot was around $18, and a couple other places I've talked to recently are offering about two-thirds current spot price for sterling, so it seems like a consistent ratio, at least with the dealers I've talked to. What are your dealers offering relative to spot?
Incidentally, when I was offered $12/ounce a while back, I opted to trade the sterling for junk silver, but I guess that's kind of hard to come by at the moment, isn't it?
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Edited by - Nickelless on 10/08/2008 05:36:33 |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 10/08/2008 : 16:33:10
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Overheard my dealer talking to a customer who was getting started in buying and selling silver-
He sells Sterling at 92.5% the price of silver
he sells sterling to the smelter and gets 87%-88% the price of silver, so it makes sense for him to sell sterling to customers than to smelters.
Those in the business have to get their cut,
no profits=no cash reserves=no business.
(I didn't ask him what he pays for sterling, I figure he offers 83% for the going rate of silver.) |
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What % of spot do your dealers pay for sterling?
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