Sharks and spot price...
nibanny
Posts: 2,761 ✭
I have received an email from Apmex about the latest Perth Mint release, the 1/2 oz Shark coin!
Besides the fact that I like more the tube than the coin itself (go figure!), I noticed that Apmex makes confusion with spot and melt.
The coin is sold for "as low as $2.49 over spot".
Spot being $19.83, I would expect the coin to be:
($19.83 + $2.49) / 2 = $11.16
The lowest price is instead $12.40 which is $19.83 / 2 + $2.49.
Shouldn't they say $2.49 over melt?!
Great White Shark at Apmex
Besides the fact that I like more the tube than the coin itself (go figure!), I noticed that Apmex makes confusion with spot and melt.
The coin is sold for "as low as $2.49 over spot".
Spot being $19.83, I would expect the coin to be:
($19.83 + $2.49) / 2 = $11.16
The lowest price is instead $12.40 which is $19.83 / 2 + $2.49.
Shouldn't they say $2.49 over melt?!
Great White Shark at Apmex
The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
0
Comments
Sounds like you figured out the pricing and determined whether it is a good deal or not.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Edited to spell "grammatical" correctly. LOL
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<< <i>I'm currently on "Live Chat" with Chrystal from APMEX. Her reply was, "OK, Thank you". When I asked when it would get changed, she replied, "I will sent the request to my Supervisor". Other than some grammatical and puncuation errors in her typing, hopefully it will get revised.
Edited to spell "grammatical" correctly. LOL >>
I don't think it is going to change, they use it almost everywhere.
I don't know if they do it on purpose (what purpose?) or...I can't come up with any other reason.
you said
as low as $2.49 over spot
the ad says
As low as $2.49 per coin over spot!
<< <i>you may have misread what they said
you said
as low as $2.49 over spot
the ad says
As low as $2.49 per coin over spot! >>
It doesn't change the fact that the premium is over melt and not spot.
<< <i>
<< <i>you may have misread what they said
you said
as low as $2.49 over spot
the ad says
As low as $2.49 per coin over spot! >>
It doesn't change the fact that the premium is over melt and not spot. >>
I always thought that the spot & melt price are one and the same...so what's the price difference. Spot on 1/2 oz items is the same as the melt for that item.
<< <i>
<< <i>
<< <i>you may have misread what they said
you said
as low as $2.49 over spot
the ad says
As low as $2.49 per coin over spot! >>
It doesn't change the fact that the premium is over melt and not spot. >>
I always thought that the spot & melt price are one and the same...so what's the price difference. Spot on 1/2 oz items is the same as the melt for that item. >>
The devil is in the details...
Spot and melt may be the same but a premium over melt is different than a premium over spot (unless you buy one full ounce).
<< <i>
<< <i>
<< <i>you may have misread what they said
you said
as low as $2.49 over spot
the ad says
As low as $2.49 per coin over spot! >>
It doesn't change the fact that the premium is over melt and not spot. >>
I always thought that the spot & melt price are one and the same...so what's the price difference. Spot on 1/2 oz items is the same as the melt for that item. >>
They are not but many people use them as if they were the same. Spot is simply a price per trading unit and with PMs it's nearly always per troy ounce. Melt is the metallic value of the metal in a piece.
When someone says, "I bought this $5 gold commem for spot" then they are saying they paid the price of one full troy ounce of gold and got 0.2419 toz! What they should say is, "I bought this $5 gold commem for melt" which is the actual value of gold contained in the coin.
you know what else?
what people refer to as "pennies" in the United States are really, technically "cents" or "one cent coins"
it's true! But there's not point in going around and correcting people all day about it. They're not the ones with the semantic "problem"
Liberty: Parent of Science & Industry
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