Does anyone buy/sell sterling silver? If so, what % of market value do you get for flatware or other items that would get melted down? I've seen what appear to be amazing deals and don't want to get burned, but being able to triple my money and/or hold precious metal for economic collapse would be nice.
The spot price is simply the price at which a commodity could be transacted and delivered on right now. This is in contrast to futures or forward contracts. The spot price of gold refers to the price of one ounce of gold and the spot price of silver refers to the price of one ounce of silver.
There is usually a bit of "vig" on bullion transactions. Think of it as a handling fee. So usually you buy at spot, plus a bit evtra for profit for the trader/converter
veggy 0 points 2.1 years ago
The spot price is simply the price at which a commodity could be transacted and delivered on right now. This is in contrast to futures or forward contracts. The spot price of gold refers to the price of one ounce of gold and the spot price of silver refers to the price of one ounce of silver.
There is usually a bit of "vig" on bullion transactions. Think of it as a handling fee. So usually you buy at spot, plus a bit evtra for profit for the trader/converter