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Is it possible to buy silver at spot price?
Typically, the answer is no. You generally can’t buy gold at the spot price, either. Purchasing silver coins or bars at the spot price would be similar to attempting to buy a car for just the cost of the auto-making materials, such as steel, aluminum, glass, and rubber. In other words, it’s virtually impossible.
How much over spot should I pay for silver bars?
Bottom Line: Expect to pay about 5\% to 8\% above spot price for bullion bars, and about 12\% to 20\% over spot for bullion coins.
Is it better to buy junk silver or bullion?
Bullion Bars. Even though junk silver coins could be a perfect solution for your portfolio, sold at a premium price for 100 ounces per silver bar, junk silver coins hold better upside down price value than 99.9 fine silver bullion.
How much do dealers pay for silver?
Most bullion dealers will offer about 95 percent of the spot price, though this will vary depending on market conditions. If you have a large lot to sell or products the dealer is in short supply of at the time, you might fetch a higher resale premium.
What is a fair price for silver?
Silver Spot Price
| Silver Spot Prices | Silver Price | Spot Change |
|---|---|---|
| Silver Price Per Ounce | $22.48 | ($0.11) |
| Silver Price Per Gram | $0.72 | $0.00 |
| Silver Price Per Kilo | $722.75 | ($3.54) |
| Live Metal Spot Prices (24 Hours) Last Updated: 12/17/2021 4:59:07 PM ET |
Can I buy silver bars from a bank?
Silver bars can be purchased from major banks as well as bullion dealers. While those coins contain silver, the metal usually isn’t the primary driver of the price, according to Zeches, who cautions against buying collectible coins if you’re just interested in a silver investment.
Is it worth melting down silver coins?
Melting coins and the United States of America It is legal to melt silver or gold coins in the US. The reason behind this decision is most likely to do with there not being any silver or gold coins in circulation. Therefore melting them would have no effect on day-to-day transactions.
How to sell your silver coins for melt value?
Getting an appraisal done of your silver coins akin to gold coins is the primary requirement for selling them for melt value. You have already taken a numismatist’s opinion. Now, it is time to hit the real market.
Where is the best place to sell silver coins?
Explore and research on the best place to sell silver coins. It need not necessarily be a coin dealer, which has its own set of advantages and disadvantages. Scrap dealers too can prove to be lucrative regarding selling coins for melt value.
What is the best way to sell scrap silver?
Compare this with eBay where you are required to pay a 10\% seller’s fee. Ideally this is one of the best options for scrap silver. Refineries buy silver and then melt it down to produce new items.
What is the value of a silver coin?
Apart from the melt value, there are two other values for a silver coin – intrinsic value and face value. All of these are determined by the primary silver price. For instance, if you have Kennedy or Franklin Half Dollars, their melt value is $10.52, as of December, 2011.