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 Replies: 19 / Views: 2,191 |
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Pillar of the Community
United States
1151 Posts |
The following represents spot silver prices in the different world currencies:
US dollar: $11.03
Canada dollar: $12.16
Australia dollar: $$15.45
Europe Euros: $8.17
English Pound Sterling: $6.32
Swiss Frans: $12.65
Japanese Yen: $1119.88
S. African Rand: $97.45
My question is, is it cheaper to buy silver from a different country than from within the US? Shipping charges would also have to be put in the equation, but for this discussion, where is the cheapest place to buy silver?
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Pillar of the Community
United States
2734 Posts |
A currency conversion website such as http://www.xe.com/ would be the best place to 'answer' your question.... For example, € 8.17 (Euros) = $ 11.03 (US) $ 12.16 (Canada) = $ 11.05 (US) £ 6.32 (GB Pound) = $ 11.02 (US) Really, Silver is priced "the same amount" everywhere in the world, and currency exchange rates alone account for the minute variations above. Shipping charges are far, far more than you could ever save on the 1 to 2 US cents variation in particular currency-to-currency exchange rates (which change daily, incidentally!). PS: The worldwide 'spot' price of silver is based on the "London Fix" Edited by DNA
10/18/2008 11:56 pm
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Bedrock of the Community
United States
12437 Posts |
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Pillar of the Community
United States
3294 Posts |
you might be able to get a slight discount if you buy it in Mexico or Peru in very, very large quantities because then they don't have to pay for shipping...
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Pillar of the Community
Australia
3831 Posts |
Straight from the mines and that is if you have a pocket big enough to deal on thousands of ounces on a contract buying.
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
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Pillar of the Community
United States
2734 Posts |
1000-troy-ounce industrial 'raw' silver bars are the cheapest way to buy silver (that is, at the least premium over 'spot price'), no matter where you are in the world.
The 'catch' is that you'd have to hire an assayer if you wanted to sell them!
There are a number of 10 and 100 troy oz. silver bars that are 'known quantities' on the Silver market (ex: Englehard) that would be much more transportable and may not require an assay to sell (depending on who and where you're selling them to).
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Rest in Peace
United States
9104 Posts |
Quote:
for this discussion, where is the cheapest place to buy silver? From individuals, by running an ad in the paper. |
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Pillar of the Community
United States
3294 Posts |
There is always Chinese silver available on ebay :) |
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Bedrock of the Community
United States
20753 Posts |
Quote:
Quote:
for this discussion, where is the cheapest place to buy silver?
My suggestion is on the South Side of Chicago at about 2AM. Approximately 47th Street. But only once.  |
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Valued Member
United States
64 Posts |
Silvers under 10 dollars a oz as of today.
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Pillar of the Community
United States
2734 Posts |
Quote:
"Silver's under 10 dollars a oz as of today." Clarification: Paper silver shares are what dipped under $10/oz, real physical silver purchases where the item is received by the buyer are still quite a bit over $10/oz  Edited by DNA
10/11/2008 9:11 pm
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Pillar of the Community
United States
560 Posts |
What are you talking about justcarl?
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Rest in Peace
United States
9104 Posts |
Stuff that "fell off the back of the truck", ie, was stolen.
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Valued Member
United States
80 Posts |
OK, For the sake of argument . . . you don't want to buy paper, but receive the coin, you don't live close to Chicago  , buying from the mine isn't an option, and your coin dealer in town won't sell. The only other place I know of that isn't selling way above the 'spot' price is ebay. Any other ideas? BTW, what's an assayer?  |
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Pillar of the Community
United States
3098 Posts |
Silver is always quoted in USD, but then is converted over to other currencies, depending on their exchange rate with the dollar. This is the same with gold, Pt, Pd, crude, etc...
Hope this helps. I was wondering about the same question a few years ago
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Rest in Peace
United States
9104 Posts |
michelle-
dgse
someone who runs a test to determine the purity of a metal sample
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Replies: 19 / Views: 2,191 |
Posted 10/07/2008 08:39 am
