If you have been reading my blog posts on gold and silver (mainly silver), you'll note that the term "spot price" has been used.
What is exactly is spot price?
From Investopedia:
The spot price is the current price in the marketplace at which a given asset—such as a security, commodity, or currency—can be bought or sold for immediate delivery.
For example, silver has a spot price around $24/ounce. I recently purchased two coins at $24.99 each (see ad above for one of them that I found on Facebook). That is roughly a dollar above silver's spot price. This made the purchase such a great deal. I try to buy silver coins as close to the current spot price of silver as possible.
One collects coins and bullion as an investment. They are held indefinitely or until the market spot prices makes it desirable (i.e., profitable) to sell. With that aside, I collect coins that I like.
To read more, go here.
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