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View Full Version : Someone told me they got a "good deal" on Silver bars



silverstriker62
1st February 2011, 13:23
Ever heard that? That does not make any sense. Why would a LCS or bullion dealer sell it below spot? Silver is sold at current market value. Any experiences out there with y'all?

AgShaman
1st February 2011, 13:50
Ever heard that? That does not make any sense. Why would a LCS or bullion dealer sell it below spot? Silver is sold at current market value. Any experiences out there with y'all?

When I first started buying hund-turds....the LCS offered JM and Engelhards at 20 cents over spot.

And for 20 cents under spot...I could have gotten some generic "no names"

I always went for the name brand...wish I would have bought some generics.

Nowadays...Mints have conversion rates cheaper than buying smallish over the counter. It's still a cheaper route...not quite as lucrative as yesteryear...but an option nevertheless.

LCS owners send a hodge podge off to the refiners if they can't find a buyer...this is why you are hearing about such things...it's cheaper for them to re-sell to you than pay the refining fees to turn it into something smaller and more aesthetic.

Crash Silver...Crash Damn You! (wait until tomorrow though)