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All Forums Category: General Numismatic Forums Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum

Explain New Daily Pricing Chart

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Author Previous TopicReplies: 2 / Views: 1,219Next Topic  
punman
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 Posted 02/27/2018  7:26 pm Show Profile   Bookmark this topic Add punman to your friends list Get a Link to this Message Number of Subscribers
The metal pricing chart that heads this forum has a bid and ask price. The one I was used to seeing until now had just one price. Was that price a bid price or an ask price or somewhere in the middle? What price on the new chart correlates best to the old one?
Edited by punman
02/28/2018 10:56 am
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leon1998
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 Posted 02/28/2018  3:30 pm  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
It depends on what you want to do in the precious metal's market.

If you're selling to a dealer, they use the bid price (the lower one, of course);
If you're buying from a dealer, they use the ask price (the higher one, of course).

And the difference in between, called the spread, is part of dealers' profit margin.

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punman
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 Posted 02/28/2018  3:42 pm  Show Profile   Bookmark this reply Add punman to your friends list Get a Link to this Reply
I am familiar with those terms, but the chart coincommunity was using up until this week, had only one listing, and I was trying figure out which one that was - bid, ask, or spread.
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All Forums Category: General Numismatic Forums Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum



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