Over spot?
In Part one we talked about spot price. If you missed it you can see it here part 1. Its time for part 2.
Source
So what is "Over Spot"? Well to make it as simple as can be, its like a fee. You see the Mints and Bullion dealers have to make a little money off of what they are selling to YOU. As a New stacker you should be looking for the lowest price over spot.
Here take a look at this, this is a good example of 2 one oz silver coins, that have a significant price difference.
That Is a 1 oz silver round that is .999 pure silver, not a bad price at 85 cents over spot, now take a look at this next example.
Thats another 1 oz silver round that is .999 pure silver and it cost $2.09 more per oz than the 1st eample.
So as you can see every coin carries a different over Spot Price. One thing that you have to always keep in mind is this " an oz of silver is an oz of silver, the only difference is what you pay for it. ( Price Over Spot)
So to sum this up for you, Over Spot is the fee that you pay for the silver that you are buying. Every coin carries a different over spot price.
Stay tuned for part 3, which will put you one step closer to your 1st purchase.
For more information about silver and gold investing, visit us at #steemsilvergold
I stack silver! What about you?
It's just junk.
Pretty junk!
What do you think about Bill Holter's thought that Silver American Eagles will be safer in the long-term (at least in the USA) because they're less likely to be confiscated?
Well I can say this, my silver will never be confiscated. But he does have a valid point. Honestly tho, ASE are tired and need a new desing.
Something about prying it from my cold dead fingers comes to mind. Theres a few things in this world I would die for and not regret it. My family and freedom come to mind and if you let them confiscate your Gold/Silver, you will end up losing both anyway. Even when Gold was "outlawed" in the 1930s, the turn in rate was low and "confiscations" were few...the suckers that did turn in their coins got screwed.
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Excellent work professor! 🧐🧐😁👍
This is great info for folks looking to get into stacking silver. Start with the low premium stuff and work your way up.
It is funny that I published today an article about "over the spot price".
https://steemit.com/steemsilvergold/@ronaldoavelino/306-some-junk-canadian-silver