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why the HUGE silver Buy-Sell spread?

DennisHDennisH Posts: 13,964 ✭✭✭✭✭
in Precious Metals
Is it simply free enterprise? This afternoon's data from Northwest Territorial Mint:

Spot Prices per Ounce
Silver Bid $10.63
Silver Ask $10.67

Our Sell Price
Bag $1000 face $10,139

Our Buy Price
Bag $1000 face $7,886
When in doubt, don't.

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    jmski52jmski52 Posts: 22,399 ✭✭✭✭✭
    It makes you wonder why anyone would ever do business with them, doesn't it?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    Norseman88Norseman88 Posts: 962
    I swapped $965 face 90% dimes into .999 100 oz. bars and got 9x face a few days ago when silver was $9.75 an ounce so I would say that they are not paying the going rate with silver closing in on $11 an ounce.
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    ebaytraderebaytrader Posts: 3,312 ✭✭✭


    << <i>I swapped $965 face 90% dimes into .999 100 oz. bars and got 9x face a few days ago when silver was $9.75 an ounce so I would say that they are not paying the going rate with silver closing in on $11 an ounce. >>




    Circ 90 bag ask is about $9950 right now.

    Why should a merchant work on such a narrow margin for small lots?
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