Surely I can't be the only one with this question. That is, I have noticed that whenever we have a dip in the price of the precious metals, it isn't possible to buy the physical bullion at or near spot anywhere (including from the Perth Mint). So if anyone has a source that sells at or near spot these days, please share!
100oz+ bars you can usually pickup closer to spot. And I've been seeing predec go for under $30/oz this week. I know for a fact that GoldStackers prices are tied to spot between about 8am-6pm (don't quote me on the exact times), so the same premium you'd pay at $40/oz, you'd pay at $30/oz.
Silver Stackers is a great place to buy close to spot I picked up about 50oz of PREMIUM Silver in various forms here last week at almost spot price. There are also a few dealers that deal closely with spot that are a good bet during a dip. I would have included Perth Mint in that too Their prices are linked with spot and seem to fall during dips.
Bullion Club. Depending on what you want & have to spend you can always work a deal, and pleasantly I might add, there. SS is good for occasional bargains but don't forget that a lot were still buying up into the $40's so sometimes sellers have their own targets which they need to make... Also on a lot of coins right now such as PM proof dragons etc there are deals to be made because of oversupply x.
OP, you havn't been confusing USD price with AUD price have you? IE when there has been a price drop in USD terms, that is negated somewhat by the strengthening of the USD relative to the AUD.
I find Bullion Bourse quite good and they have better shipping rates than most. Generally, once I factor in shipping, I find them better priced than any other place and even better than many of the sales here in the Silver Stackers forums.
No, not at all. Today for example, silver has fallen down to AUD 31.5 as I write this, but you can't find physical silver for anything near AUD 31.5 (or even at 10% over spot, being AUD 34.6) anywhere!
PM has 10oz bars at 338.30 when spot is 31.46 (338.30-314.60=23.70) so $2.37 (7.5%) over spot. It goes up of course when you include their shipping + insurance but so will anything unless you buy F2F. EDIT: I should have just used their listed spot price, it's $2.10/oz for 10oz bars.
That's precisely my point - even with the Perth Mint (before shipping, which I agree, you have to pay anywhere unless you do F2F) you are looking at a 7.5% premium! I am also finding sales at spot (for 99.9%> bullion) becoming more of a rarity on these forums.
Not any more as there are many sellers hoping to make a buck and daily volatility keeps the prices high pending recovery.
In my experience, I have found that the best pricing can be obtained at the "local level" through relationship building. I googled reviews and visited a few pawn shops and gold and diamond exchange places and got to meet the owner or the guy in charge. I started buying silver at just over spot with only $2 premiums coming on Silver Eagles or Maples. As I kept buying and showing up regularly, the premiums fell quickly. I can buy nearly every 1oz silver coin or 1oz bar at spot price and now only pay $1 premium for Silver Eagles, Maples, or the occasional 100oz bar. I have recently diversified my purchases to gold and the same thing occured. Small $25 premiums at first to now buying at spot...All within a 60 day period. I started buying 1oz gold eagles and with no premium over spot on gold, i began to ask for fractional gold and found he had quite the collection. Just today, i bought fractional pandas, krugs, and kangaroos. Dealers like this only make money on transactions where they can buy quick and sell even faster. Relationships are as important to them as they are to me. On various occasions, I have received calls where a certain desirable product has come in and if I want it and can be there in 24-48 hrs and it's mine. He's been looking out for me and in kind, I look out for him buy coming in as promised and buying what i said I would. You can buy from online retailers and that's good if you are trying to build up ounces quickly, but buying locally has proven for me to be quite cost efficient. Good luck, gents!
You're in the US - so its possible to buy at close to spot once they know you. here in Ozz the dealers have a higher markup - doesn't matter how long they know you. We're used to it though... always carry a tub o vaseline around... :lol:
