Alternate ways of buying cards

[oldeboo]

Originally Posted by parkplace33

Is this something new?

Nah, silver has been used for several thousand years as a form of payment and long before the dollar bill. I know I'd rather have a handful of silver than a handful of dollar bills, especially over any significant duration.

[Peter_Spaeth]

If thirty pieces of silver were good enough for Judas...

[Aquarian Sports Cards]

Originally Posted by oldeboo

Nah, silver has been used for several thousand years as a form of payment and long before the dollar bill. I know I'd rather have a handful of silver than a handful of dollar bills, especially over any significant duration.

I would be worried someone is trying to pass fake silver

[vintagetoppsguy]

Originally Posted by oldeboo

I know I'd rather have a handful of silver than a handful of dollar bills, especially over any significant duration.

+1

Originally Posted by Aquarian Sports Cards

I would be worried someone is trying to pass fake silver

You just have familiarize yourself with what to look for...like cards or any other item that's faked.

[nat]

"I know I'd rather have a handful of silver than a handful of dollar bills"

I dunno man, silver is trading at $26/oz, I bet dollars are going for more than that.


__________________________________________________ ___________________
Edit: okay, so I did the calculations, and it's closer than I thought. A dollar weighs one
gram, so an ounce of dollar bills is going to be worth a bit more than $28.

[vintagetoppsguy]

Originally Posted by nat

Edit: okay, so I did the calculations, and it's closer than I thought. A dollar weighs one
gram, so an ounce of dollar bills is going to be worth a bit more than $28.

Silver is still more. Your $26/oz point of reference is the spot price - paper silver - mining stocks, ETFs, etc. Physical silver isn't tied to spot price in any way. I bought some bullion just today. I paid $31/oz.

[Peter_Spaeth]

Originally Posted by vintagetoppsguy

Silver is still more. Your $26/oz point of reference is the spot price - paper silver - mining stocks, ETFs, etc. Physical silver isn't tied to spot price in any way. I bought some bullion just today. I paid $31/oz.

Does the spot price exist anywhere such that you can actually buy at it? In gold for example people are always advertising best price only x dollars above spot. Makes me want to buy at spot.

[vintagetoppsguy]

Originally Posted by Peter_Spaeth

Does the spot price exist anywhere such that you can actually buy at it? In gold for example people are always advertising best price only x dollars above spot. Makes me want to buy at spot.

I'm going to say no. Even if you could find a private seller, you would probably still pay over spot. And that's because the bullion dealers are buying over spot.

A little over a year ago, the situation was different. Many online dealers offered specials like "buy 10 ounces at spot" but those deals were limited to like 1 per household (address). But today, you won't find anything at spot.

And the price I paid today ($31/oz) is for generic silver. American silver eagles are selling for like $10 over spot.

[oldeboo]

I've dealt with a dealer that will sell generic gold and silver at spot and even at times under spot. Of course that is in person with cash and an established relationship. Let's just say he moves product incredibly fast and often has no inventory of generic because of this. Generally, the next person that walks in the door buys it. He's a retired fellow and I know that his margins are very small from speaking with him, he does it more for something to do a couple days a week. That's more of an exception to the rule though.

Typically, yes, there is a premium above spot and an extra premium for numismatic value.