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| Above, an 1889 Morgan silver dollar. Photo by Armand Vaquer. |
People may wonder, why can't gold and silver can't be bought at spot price? It is not a difficult question to answer. It is all basic economics. (I earlier posted a blog on what is spot price.)
Dealers are in the business to make money, and if they have to sell gold or silver at spot price, they're not making any profits and would selling at a loss.
Generally, I look for the best deals of silver coins with the price as close as possible to spot price. It pays to shop around.
CoinWeek has an article explaining why.
They begin with:
Wouldn’t it just be grand to buy gold or silver at spot price? Think about that pile of metals in your vault growing ever higher, all at the price of what the metal is really worth. Eliminate the middleman — no numismatic premiums. And all the while that silver or gold keeps appreciating in value day after day, month after month, year after year.
Unfortunately, anyone who says they know how to buy at spot price is either lying or mistaken.
To read more, go here.
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