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Silver Over Spot

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Valued Member
newdavid's Avatar
United States
191 Posts
 Posted 01/13/2009  10:19 pm Show Profile   Bookmark this topic Add newdavid to your friends list Get a Link to this Message Number of Subscribers
How much should a person pay over spot? For just .999 silve bars and rounds. Is there a premium for 10 oz silver bars. I could have picked up some bars and round for 13.50 an oz today. Just wondering if I should go back and get them tomorrow.
Bedrock of the Community
United States
10284 Posts
 Posted 01/13/2009  10:33 pm  Show Profile   Bookmark this reply Add TNG to your friends list Get a Link to this Reply
An old rule of thumb I used to expect to pay was about 10% either way. For example if silver spot was $10.00 to make this easy, I could expect to pay about $11.00 to buy that .999 oz and if I were to sell it to a dealer, I might only get $9.00. When buying in bulk say 20 ounces, of course your dealer would probably give you a better deal.
Coin bullion value would be different and they generally charge a 15% refining fee whether the coin is ever melted or not when you sell it to them and the coin is not 100% silver like the bars you are inquiring about.
I don't know what spot is today but tomorrow it can be different.
We can't expect them poor dealers to lug around all that heavy gold and silver for nothing, they have to make a profit on the stuff. Sometimes they buy high and sell for less than they paid too, but being constantly in the business, they generally make a good average 15% percentage on it coming and going. It all comes out fine in the wash.
Pillar of the Community
United States
1026 Posts
 Posted 01/13/2009  10:34 pm  Show Profile   Bookmark this reply Add Brucec to your friends list Get a Link to this Reply
That is a normal price you will not get it any better silver was $ 10.78 oz today last that I looked
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BH1964's Avatar
United States
10982 Posts
 Posted 01/13/2009  10:39 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
With silver spot back under $11, $13.50 is a little high for generic bars/rounds. The problem is so many people are paying $14 for generic 1 ouncers it's hard to get them for much less than that.

APEX.com is offering new 10 oz bars for $128.90.
http://www.apmex.com/Product/43308/...___Live.aspx

If I were buying generic right now, I'd look for $13 as a good price.
ANA #R3154474
Valued Member
newdavid's Avatar
United States
191 Posts
 Posted 01/13/2009  11:19 pm  Show Profile   Bookmark this reply Add newdavid to your friends list Get a Link to this Reply
Thank you all. Is engelhard generic or is that better than the plain Jane no name bars around? Would that name make a difference?
Bedrock of the Community
United States
10284 Posts
 Posted 01/13/2009  11:29 pm  Show Profile   Bookmark this reply Add TNG to your friends list Get a Link to this Reply
Engelhard is a reputable longtime company. Many of their bars are with serial numbers, some of the bars are even worth a premium as collectible. Never made any difference to me. The dealers never gave me extra selling them back but you can get some generic rounds a little cheaper. I never had a problem selling the ones with Happy Birthday or a crude Buffalo nickel copy on them.
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