Determining Physical Silver Price

Discussion in 'Silver' started by HoneyTree, Mar 24, 2020 at 11:10 PM.

  1. HoneyTree

    HoneyTree New Member

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    How are you all determining the price of physical silver?
     
  2. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    Demand
    How much of a premium are you willing to pay for physical ?
    And welcome
     
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  3. HoneyTree

    HoneyTree New Member

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    Thanks.


     
  4. Alloy

    Alloy Member

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    I don't understand the question. How would we "determine the price"? Whatever dealers are charging is the price, but it depends on the product, if they even have anything in stock anymore.

    It's a huge mistake to buy now with these inflated premiums. Better to wait until premiums are normal again.
     
  5. slavaja

    slavaja Well-Known Member Silver Stacker

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    Yeah just get unallocated and convert it to physical later on
     
  6. HoneyTree

    HoneyTree New Member

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    Thanks Alloy, I am just asking because I am thinking about selling some kilo bars if the premium is high enough. Trying to find a good way to determine price.

     
  7. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    It's similar/higher prices in the us as awhile back, 18ish or more or even a little higher than that.
    Maybe $26ish for silver eagles?

    Its literally worth whatever people are paying right now. It's a sellers market.
     
  8. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Wow I take that back, not similar at all. Much higher premiums now.
    21.1x face for some of the older junk silver now on apmex damn!
    I havent looked at prices in a few days. I will be going to my lcs Saturday to see if he has anything.
    Hes always very fair with me and I would buy either silver or gold right now. Fractional is better.
    Not the best market to buy but I have a little cash and I'm not worried long term.
    If theres nothing I will keep cash. I need a well drilled here this summer.
     
  9. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Shit my lcs is probably closed for all this corona bullcrap. I forgot about that!
    The world has truly gone mad.
     
  10. Fugue

    Fugue New Member

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    I intend to buy unallocated for now. Perth mint sells at ~25 cents above spot. Fortunately, I live in Perth, so converting to physical is probably cheaper and easier for me. It is a shame it a took almost a week for them to validate my account and probably a couple of days to transfer funds. Spot might be back up to $25 by then.
     
  11. HoneyTree

    HoneyTree New Member

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    Thanks for the tips all. I've got about 500 ozs I wanted to sell so I though I'd try this as a test.

    3 oz at US$95. Sold in an hour.

    Screen Shot 2020-03-25 at 7.38.08 PM.png
     
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  12. shinymetal

    shinymetal Well-Known Member

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    Granted that is a premium chunk of silver.. But that's $160 AUD for 3 ounces! And it sold quickly!

    Is spot irrelevant at this point?
     
  13. Alloy

    Alloy Member

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    Ah, I see. So to triangulate the price, check out direct sales communities like PMsforsale on reddit, and the sellers here at Silver Stackers, and The Silver Forum. Then compare prices at dealers like Silver.com for the low end, and APMEX for the high end. Note that those two dealers don't have any kilo bars in stock right now...
     
  14. HoneyTree

    HoneyTree New Member

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    Although they didn't sell as quickly as the small silver piece from yesterday I did sell two 1 kilo ASAHI bars for US$1900. Local buyer and I had to personally deliver them.

    I am still not sure what the real prices are, but there is certainly a segment of the public that wants metals immediately. Plenty of trolls too.

    I've only got a couple more small odds and ends in my stack left, I posted 10 x 1 oz sunshine buffaloes at $35/oz on a local US classified app. let's see what happens...
     
  15. Holdfast

    Holdfast Well-Known Member

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    I'm not sure if this is helpful to you Honey Tree:

    Here's the Perth Mint buy and sell page.
    https://www.perthmint.com/metalpric...5.1819596597.1585255556-1263553638.1584086727

    Here's the premiums on their gold and silver bullion products. (Fabrication premium)
    https://www.perthmint.com/storage/pricing.html

    As an example:
    The Perth Mint's, Silver 1oz Kangaroo bullion coin x 1 has a $5.45 added to the spot price, which may vary.
    The Perth Mint's, Silver 1oz Kangaroo bullion coin x 25 (sealed-tube of coins) has a $5.15 added to the spot price, which may vary.

    For those folk who are unsure what their coin is worth, an easy method to give you a rough idea is to look at the sold listings on ebay.

    The Silver Stackers site also has a link to a thread where members may advise.
     
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  16. BiGs

    BiGs Active Member

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    Price/value is always what someone else will be willing to pay for it, or more accurately, a group (society). Use the spot price by our banking overlords as a guide only, it only follows digital algorithms which does't reflect the true price sometimes.
     
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  17. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Definitely not for investment. Probably same reason as why people are buying toilet rolls - which by the way was started by the HK people.

    I remembered it was only like 2 months ago when 10 oz silver fetched way less on Reddit than on this forum. The change is pretty amazing.
     
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  18. HoneyTree

    HoneyTree New Member

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    From my day job:


    Bolivia: Bolivia’s largest silver mine suspends operations amid COVID-19 crisis
    Published At : Fri Mar 27 18:57:16 2020

    Bolivian mine suspends operations



    The San Cristobal silver mine in Bolivia announced it has suspended operations after the interim government of Jeanine Añez imposed tough rules in order to contain the spread of the COVID-19 in the Andean nation.

    In a Friday statement, the operator of the San Cristobal mine, which is a massive deposit of silver, zinc , lead, said that it would impose a “temporary suspension of the production and export of concentrated zinc, lead and silver minerals” following the President Añez’s measures.

    Earlier this week, the interim government said that it would extend an obligatory quarantine period until the second week of April, close Bolivia’s border and tighten further the movement of people because of the COVID-19 crisis.

    In the statement, which was eventually posted on Twitter, the San Cristobal mine’s operator added that the move came “in the face of the spread of the COVID-19 virus, and as a precaution for the health and life of workers.”

    © 2020 Fourth Estate - All Rights Reserved
    via Newshub.fourthestate.org
     
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  19. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Wow gets better every day and weve seen nothing yet.
    Keep stackin.
     
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  20. alor

    alor Well-Known Member Silver Stacker

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