What is the Silver Spot Price?
Let’s look at the definition of local price per second here. Therefore, the local price is the current market price for the instantaneous payment and distribution of an asset purchased or sold, which is different from the future or future price. Are the prices at which an asset can be bought or sold in the future. So basically it means what is the current selling price per troy ounce in the silverware market. That is, let’s find out what the local price is. So we pull it off for a second. So let’s take a look here. So you see this is silver. Now you can see the silver. Had to hide but this is trading up and down today and you will see that this is done in New York time or Eastern Standard time. Let’s find out more about this site. www.silverprice.org
We come to this chart I really like t his chart is actually a live trade in silver trading we can actually make this chart we can actually go to the beginning of the year and see how it remains unchanged or we can zoom in and see what it currently does silver Trading from eighteen to fourteen and eighteen to thirteen you can see it moving forward in the live ranges.
So it has dropped to eighteen and it has risen to eighteen 23. Now I mentioned silver or it was traded around 24 hours a day and you can see that you have different markets, so the New York market is like the biggest market and like I said it was traded 24 hours a day Suffered from that little break for a while but it is still trading in Hong Kong it has also traded in London and Sydney has also traded in Australia. Another chart we have here is this table and this chart is very cool so you can view it at very different time intervals, this is ten minutes apart. At 8:30 this morning it had risen to 818 and now at 8:14, it had dropped to four sentences. But let’s look at thirty years for you too. So let’s see if we’ve been here for 30 years. As the point may be here, he trained on February 25, 1993, for $ 3.57 in silver.
HOW TO BUY SILVER, SPOT PRICE VS MARKET PRICE
As far as you know our educational series can get a lot of questions especially about new people who are particularly interested in opening a role. What is the difference between a spot price and what it actually costs to buy a coin and the example when we are hunting for a coin roll and what exactly does it mean when we are looking for silver Benjamin Kennedy We refer when we talk about place price and market price and things like that What do you do? So I presented this little example for you to try. I checked to see what is currently trading silver on the morning of October 4, 2015. Local prices rise by about 1574 per ounce of silver. Theoretically, if you could buy it you would get fifteen dollars and 74 cents an ounce. I do not have a silver eagle. Because of the wrapping, we use a maple leaf but it is only 0.999 ounces of silver and 1574 ounces according to the markets, and even last Friday it was Friday and basically Friday the silver spot price went up by 74 cents today.
The spot price has risen to another forty-five cents at one point, and it is moving far and wide. Most of the summer it was $ 14,1514. You know the dollar range now a few years ago yes I used to pay around $ 40 per coin and an ounce of silver is now back in 2001 and 2008. After 2001 we got this kind of local price. It rose to 4045. It fell back to 2008. It came back in 2015 with 20 ounces and what happened in 2008 is the real estate market economy and it is close to 50 to 48 rupees per silver. So what we’re trying to do here is when people are referring to the price of a place, for example, you know, the people in the stock market, the people in the stock market, are basically the price of everything from meat shells to copper and silver. Mentioned is basically the same as the local price. So today is 1574 ounces of silver and you can buy it now.
You can buy as much as you can because it is the number two bargaining number two so you can never get silver at the local price. Maybe we’ve talked about this in other videos we’ve mentioned several times if you’re really creative, but we’ll try, a video about how to get silver for more than the price of places makes it clear to us as a really good way to make coins real hunt the face value of the coin you pay You do not have to pay this kind of money to get an ounce of silver because you do not pay the price, so you will see this when we do the whole thing here. The local price is the base price for the base metal, but the difference between coin sellers and companies that sell bullion is that when you talk about the price of a bullion coin at a targeted location, a bullion coin like a big old bara silver is OK, it’s good bullion with no numerical value, we have a hundred If I’m a bullion bar but coin collectors give you an ounce of love, it’s a bullion bar. So here’s what? Merchants look at local prices and they have inventory and they say right now the place price is really cheap and we can’t sell the coin and our average margin is 10% and in 1574 it will be fifty-seven rupees.
That means you can buy this silver for $ 17 and you have to change what it is and what we have seen or bought in the last year. The price of the coin remained stable at about twenty rupees. Nineteen Twenty-one Books The only thing that applies is that the Canadian Maple Leaf American Eagle is a silver bar of one ounce and they all range from 19 to 21 rupees. What happens to you when space is low anywhere? The coins used to charge $ 2.00 If your place was 18 you would have paid 20. Now that place is 1574 and they still want to sell it to you for 20. So what you have realized is that their margin is significantly higher than the so-called premium for their scoring premium. If they charge you $ 20 for a coin and fifteen forty – four they charge you four dollars and 26 cents for three times the average place instead of seventy, which is 30 percent.
So the main difference is the difference between what the place is and what you can buy the coin for. If you melt it or you can buy it, it is the price of the base metal. Whatever the market price, the local price is the market price and the premium above this price is nowhere to get this coin. You can buy them 19 19 21 21 If you can afford a cheaper price throughout the day you’re great The other option is to just compare these three coins 64D Kennedy 90% and two slightly better shaped Benjamins they have some coin value. Some collectors have a numerical value that is better than scratch silver, so if you buy or find a coin this is one of the real hunting sessions and you knew it was 90% silver because of some kind of blow and roughness, but to get the same value you need these You need three to match one so you can buy at your local price and your price. You can coin a margin or your installment or a raw hunting coin like us to get to your 20s and we want one of these to be something like this.
As I say, the situation is irrelevant when you talk about this. I have given these small clear spot price market price and coin roll value so here you pay twenty rupees for a fifteen point seventy-four price item or you can find three of these and about fifty face value. You can get better silver as the local price and Wave Al fact is one-tenth of the cost of capturing the market. It always aims to be profitable so that we can find better and that is why we accumulate these things and accumulate wealth. We have answered many questions with this and for many, it is a really complicated matter and you can go deeper into the weeds and into a collection of different things. This price goes up and down throughout the day If you are going to buy in a store the best time to buy silver in the market is closed and you focus on the spot price Try to get a bigger spot inside the store if you see that the spot price is going down significantly If it falls, or if the local price falls instead of 74 cents on Friday, if it falls by 74 cents, you know that the market is closed by noon on Friday and it has fallen. Distributor or coin job and cut a deal because yesterday that coin will cost you $ 75 to $ 1.00.