Kilo silver bar spreads is now just plain ridiculous!

[Aurora et luna]

The silver spreads on a kilo silver bar for immediate delivery has now ballooned to an astounding $193
At present spot is $1070, buyback is $1027 and sell is $1220
That is what a well know Melbourne dealer is asking.
You can thank your lucky stars there is a site like Silverstackers to buy and sell your bullion

 

[DSK]

Steve, we all know your the best on buy backs....well you have some of my gold and silver when i needed to pay some bills...and can honestly say you wont be getting anymore..got a part time job after not working for 4.5 months./

 

[Aurora et luna]

Steve, we all know your the best on buy backs....well you have some of my gold and silver when i needed to pay some bills...and can honestly say you wont be getting anymore..got a part time job after not working for 4.5 months./

Good to hear things are going well for you again DSK
Be good to catch up with you soon.
Cheers

 

[Stedlar]

The silver spreads on a kilo silver bar for immediate delivery has now ballooned to an astounding $193
At present spot is $1070, buyback is $1027 and sell is $1220
That is what a well know Melbourne dealer is asking.
You can thank your lucky stars there is a site like Silverstackers to buy and sell your bullion

Would that indicate that supply is not a problem, but that demand is high?

ie I can sell at high prices, and but wholesale is plentiful and cheap

 

[hem9]

The silver spreads on a kilo silver bar for immediate delivery has now ballooned to an astounding $193
At present spot is $1070, buyback is $1027 and sell is $1220
That is what a well know Melbourne dealer is asking.
You can thank your lucky stars there is a site like Silverstackers to buy and sell your bullion

Would that indicate that supply is not a problem, but that demand is high?

ie I can sell at high prices, and but wholesale is plentiful and cheap

I think that would indicate that demand is high (since the sell spread is so high), with regards to the supply side I am not sure what the price states but whats interesting is that I tried to buy 1kg from ainslie today to add to my pick up order but they seem to be out of 1kg bars both perth mints and their own. Which is kinda give hints to the supply side.

 

[Aurora et luna]

The silver spreads on a kilo silver bar for immediate delivery has now ballooned to an astounding $193
At present spot is $1070, buyback is $1027 and sell is $1220
That is what a well know Melbourne dealer is asking.
You can thank your lucky stars there is a site like Silverstackers to buy and sell your bullion

Would that indicate that supply is not a problem, but that demand is high?

ie I can sell at high prices, and but wholesale is plentiful and cheap

Had no problems picking up 10 kg at spot last week so I don't think supply is too big a problem. Could have picked up a lot more if I was prepared to pay spot and shipping.
Was even offered 5kg bars below spot but I refused to buy it.
There are lots of sellers here with larger parcels who bypass the forum as they prefer not to sell to 10 different buyers.

 

[gbickle]

http://www.adelaide-exchange.com.au/aejbullion.htm Adelaide Exchange Jewellers current buy price is $1063 as of this morning

 

[Aurora et luna]

http://www.adelaide-exchange.com.au/aejbullion.htm Adelaide Exchange Jewellers current buy price is $1063 as of this morning

$200 spread on a Kruggerrand; they got to be joking

 

[Graeme]

$200 spread on a Kruggerrand; they got to be joking

Plain greedy I reckon.

 

[rbaggio]

$200 spread on a Kruggerrand; they got to be joking

Plain greedy I reckon.

Wouldn't they have to charge GST on the Kruggerand? That would explain the larger spread. Would likely be the same with Sovereigns...

It appears that some places charge GST on Krugs, and some don't. For example:

http://www.wdavis.com.au/live-price-list.html
"All prices are quoted in Australian Dollars, $AUD, and include GST where it is applicable."
1 Krugerrand Buy $1,398 Sell $1,468

https://www.ainsliebullion.com.au/BuyGoldandSilverOnline/tabid/61/language/en-AU/Default.aspx
Krugerrrand (inc. GST) Sell $1,555

 

[Captain Kookaburra]

The spreads indicated above don't mean that any of the above are not including GST in their calculations.

For instance in one of the cases I am pretty sure that the actual price you buy it for is actually under spot after you factor in the GST that the dealer collects for the government on its purchase.

GST sucks ...

 

[Petulant Frenzy]

The silver spreads on a kilo silver bar for immediate delivery has now ballooned to an astounding $193
At present spot is $1070, buyback is $1027 and sell is $1220
That is what a well know Melbourne dealer is asking.
You can thank your lucky stars there is a site like Silverstackers to buy and sell your bullion

Would that indicate that supply is not a problem, but that demand is high?

ie I can sell at high prices, and but wholesale is plentiful and cheap

ABC Syd are a 4-6 wks out on Pamp silver 1kg, so I found a day or two ago.

 

[Mr Medved]

The silver spreads on a kilo silver bar for immediate delivery has now ballooned to an astounding $193
At present spot is $1070, buyback is $1027 and sell is $1220
That is what a well know Melbourne dealer is asking.
You can thank your lucky stars there is a site like Silverstackers to buy and sell your bullion

ABC Melbourne? Their spreads are painful, particularly with silver.

Better to try your luck across the road, as long as they have stock. You may have to camp out like for grand final tickets though.

 

[Blockhead]

The silver spreads on a kilo silver bar for immediate delivery has now ballooned to an astounding $193
At present spot is $1070, buyback is $1027 and sell is $1220
That is what a well know Melbourne dealer is asking.
You can thank your lucky stars there is a site like Silverstackers to buy and sell your bullion

Would that indicate that supply is not a problem, but that demand is high?

ie I can sell at high prices, and but wholesale is plentiful and cheap

I think that would indicate that demand is high (since the sell spread is so high), with regards to the supply side I am not sure what the price states but whats interesting is that I tried to buy 1kg from ainslie today to add to my pick up order but they seem to be out of 1kg bars both perth mints and their own. Which is kinda give hints to the supply side.

Ainslie are out of all bars atm, 1kg, 1/2kg, 20oz, 10oz. Only 10Kg+ and PM coins. Never seen that before. Probably a regional thing.

 

[hem9]

Man, kilo bars are really going through the roof

http://cgi.ebay.com.au/1-kilo-silve...90537696444?pt=AU_Bullion&hash=item43a5656cbc

http://cgi.ebay.com.au/PERTH-MINT-S...30589498211?pt=AU_Bullion&hash=item35b0348363