Diff Current Silver Spot Prices @ Different Bullion Dealers

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Author	Replies: 6 / Views: 2,240
Peacesilver Valued Member United States 98 Posts	Posted 10/23/2014 12:59 am Is there a reason why current silver spot prices are different for different bullion dealers? For example, compare silver price.com website @ 17.20 JM @ 17.27 APMEX @ 17.27 Gainsville @17.30 Bit confused on why it will be different Edited by Peacesilver 10/23/2014 02:10 am Report this Post to the Staff

ace_ftw Pillar of the Community Canada 1747 Posts	Posted 10/23/2014 03:32 am I believe because the spot price is actually an interpretation of somewhere between the "ask" price and " buy" price. It's not like they are all over the place. Remember, what you are actually talking about is between thousandths of a percent. Also each website may refresh their spot price at different times, did you look at kitco.com? Report this Post to the Staff
Peacesilver Valued Member United States 98 Posts	Posted 10/25/2014 8:56 pm It's always interetsing how dealers interpret the silver or other precious metal's current spot. Given there's no activity in the PM market on Saturday, here's the current spot I gathered from multiple dealers: Comparesilverprice.com - $17.20 Silver.com - $17.26 Kitco.com - Ask: $17.21 Buy: $17.31 APMEX.com - Ask: $17.16 Buy: $17.26 Providentmetal.com - $17.25 Gainsville.com - $17.31 JMBullion.com - Ask $17.26 bgasc.com - $17.22 texmetals.com - $17.23 amagimetals.com - $17.23 moderncoinmart.com - $17.17 So, it looks like there is range of 1 to 10 cents difference in each bullion dealers. Few transactions don't make too much difference. But this differences will make huge differences when thousands of transactions are completed daily. Edited by Peacesilver 10/25/2014 9:03 pm Report this Post to the Staff
yup7676 Pillar of the Community United States 3789 Posts	Posted 10/30/2014 5:46 pm I get multiple feeds for PMs... I dont want to get into name calling but knowing what I do know, I dislike how the dealers play fast and loose with the supposed "real time" price of the metal. Just like, I track their prices versus the declines in the metal price and sometimes, over a period of time, the prices reflected on their inventory is higher than what it was months ago... I am assuming they add premiums on the fly for popular bullion products.,., Report this Post to the Staff
bobby131313 Forum Dad United States 24155 Posts	Posted 10/30/2014 5:58 pm I'd bet almost all sites cache the feed. Very few, if any, are going to fetch the feed every single time the page is requested. One may cache for 1 minute, another for 5 minutes, another for 15. That would account for the differences. Shop CCF Members on eBay. Report this Post to the Staff
tkbslc Pillar of the Community United States 1158 Posts	Posted 10/30/2014 6:06 pm I would bet many shops, especially smaller ones, only check once or twice per day. Report this Post to the Staff
Peacesilver Valued Member United States 98 Posts	Posted 11/01/2014 02:36 am Quote: I'd bet almost all sites cache the feed. Very few, if any, are going to fetch the feed every single time the page is requested. One may cache for 1 minute, another for 5 minutes, another for 15. That would account for the differences. bobby131313 - I would understand if the prices would fluctuate during the weekdays. But sample current spot prices I got were from Saturday when there is no changes in current spot price. Quote: Just like, I track their prices versus the declines in the metal price and sometimes, over a period of time, the prices reflected on their inventory is higher than what it was months ago... I am assuming they add premiums on the fly for popular bullion products.,. yup7676 - Yes, it looks like current spot prices have fallen to $16. However, I've seen some coin's cost more now (huge premium increase) than when current spot prices were higher. Also, I've seen Silver Pandas don't move any lower than $25 (less than 20 coins) regardless of current spot prices hitting mid $15 earlier today. Edited by Peacesilver 11/01/2014 02:42 am Report this Post to the Staff
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