NOTHING FOR SALE! just asking a question

Discussion in 'Silver' started by stacknowlaughlater, Feb 19, 2015.

  1. stacknowlaughlater

    stacknowlaughlater Active Member

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    Hey guys I'm a little confused... When I went on Bullion money's website it said the buy back price of a kilo of silver is $681 (spot) but when I called them up they said it was $655. Does anyone have any idea why?
     
    stacknowlaughlater, Feb 19, 2015
    #1
  2. Altima

    Altima Well-Known Member Silver Stacker

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    Don't believe everything you see on the website? And I think you posted this in the wrong sub forum.
     
    Altima, Feb 19, 2015
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  3. anonmiss

    anonmiss Active Member Silver Stacker

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    Why not ask them?
     
    anonmiss, Feb 19, 2015
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  4. House

    House Well-Known Member Silver Stacker

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    Might not have been updated or may have been a sudden drop in spot.
     
    House, Feb 19, 2015
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  5. bubblebobble2

    bubblebobble2 Administrator Staff Member Silver Stacker

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    House is right, dealers will only buy on spot price and metal spots do fluctuate so you really can't take the price as concrete... by the time you present your bar that's the current price.. based on spot price.
     
    bubblebobble2, Feb 19, 2015
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  6. Howe

    Howe Member

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    Howe, Feb 19, 2015
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  7. stacknowlaughlater

    stacknowlaughlater Active Member

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    stacknowlaughlater, Feb 19, 2015
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  8. Andy28

    Andy28 Well-Known Member

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    Was it the same brand as those listed? Or perhaps the website price is not live so you have to call for up to the minute pricing?
     
    Andy28, Feb 19, 2015
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  9. stacknowlaughlater

    stacknowlaughlater Active Member

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    no matter the brand the buy back price is the same for all 1 kilo bars. its interesting because abc bullion's buy back price is also lower than spot but it is show to be lower on their website where as bullion money's buy back price is always shown to be spot on their website.
     
    stacknowlaughlater, Feb 19, 2015
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  10. anonmiss

    anonmiss Active Member Silver Stacker

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    That's not necessarily the case with all bullion bars, if the bar is not immediately recognizable for example one from a very small mint or with a jewelers/stores own brand name then the dealer will have a harder time moving the bar and may pay less as the risk of holding it is higher.
    Bullion Moneys site clearly states that the prices are for Perth Mint and Pamp bars.
     
    anonmiss, Feb 19, 2015
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  11. whinfell

    whinfell Well-Known Member Silver Stacker

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    Paging Ossie to the white courtesy phone :/
     
    whinfell, Feb 19, 2015
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  12. whinfell

    whinfell Well-Known Member Silver Stacker

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    Website pricing is live - I checked it about 15 minutes ago, and just now, and the price has changed - advertised buyback price is currently $687.21 for PM or PAMP 1kg silver bars
     
    whinfell, Feb 19, 2015
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  13. Ossie

    Ossie Member

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    Hey Guys,

    Just got a PM to answer the questions above.

    1. Our buyback prices are live unless a feed goes down etc. (rarely)
    2. We guarantee buy back at spot price as advertised as long as the product is purchased from us. (hence BUY BACK)
    3. We still buy back products not bought from us but the price is at our discretion. Generally a couple % below spot unless its products that are in demand etc.

    We have traded with this term as long as I can remember and hence our Buy back is popular due the guarantee we offer when people buy from us.
    Will make it more clearer on the Charts and prices page so there is no confusion.
     
    Ossie, Feb 22, 2015
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