Silver Spot Price

GiveMeProof

Am I correct in assuming that "Spot Price" is the going rate for unrefined silver. If so where can you find that info? If this is not correct I will explain why I ask. Thank you for your attention.

GiveMeProof

OK, gotcha. But I thought rule of thumb with 90% was $1 face = 1 troy ounce. Thank you all for your help. Learned a little bit today.

jmlanzaf

@GiveMeProof said:
Am I correct in assuming that "Spot Price" is the going rate for unrefined silver. If so where can you find that info? If this is not correct I will explain why I ask. Thank you for your attention.

Go to kitco.com as one location. You can also look at the future market as that's where the bid/ask comes from.

Spot price is refined silver not unrefined.

PerryHall

@GiveMeProof said:
Am I correct in assuming that "Spot Price" is the going rate for unrefined silver. If so where can you find that info? If this is not correct I will explain why I ask. Thank you for your attention.

Price for 999 fine silver in 1000 oz bars. Not for unrefined silver as you said in your question.

ricko

I use Kitco - and it is for refined... I do not know of an index for unrefined silver. Cheers, RickO

PerryHall

What is unrefined silver? Silver ore? Silver less than 999 fine?

Jzyskowski1

Perhaps. Silver lacking in social graces 😂. Unrefined 🙀

GiveMeProof

So "spot" is not the going rate to purchase silver? That's where I get confused. Apmex is selling 90% silver for $7 and change below spot, but the price is very close to the going rate of silver, $23-$24.

Jzyskowski1

1000 oz bars are where spot is determined. That’s a lot of silver 🤠🙀

jmlanzaf

@GiveMeProof said:
So "spot" is not the going rate to purchase silver? That's where I get confused. Apmex is selling 90% silver for $7 and change below spot, but the price is very close to the going rate of silver, $23-$24.

90% silver is currently selling for $3.50 over spot. I'm not sure what Apmex price you're referring to. $1 face in silver is only 0.72 ounces of silver. Are you talking about $ per $ face?

$1 gave melts at $16.44 when silver is at $23, but correctly sells for $20.

MsMorrisine

@GiveMeProof said:
So "spot" is not the going rate to purchase silver? That's where I get confused. Apmex is selling 90% silver for $7 and change below spot, but the price is very close to the going rate of silver, $23-$24.

First - shop around for the best prices as there are better sellers and more expensive ones. Ask on the precious metals forum

Spot silver price is the going price for the large 1000 ounce bars for immediate delivery

If you want to buy a one ounce silve eagle, that’s a different price based off spot. You’ll pay spot plus a premium over.

Similar for 90% silver. I’m not sure where you got $7 and change below. So I cannot address that.

I have no idea where each web site gets its spot price from as it seems they all have a different number (diff but close) you can see what spot price APMEX uses since they put it across the top of the page