/biz/ - Business & Finance

>>27690194

https://www.silver.com/prices/silver-prices/

> What exactly does the spot silver price quote?
The spot silver price reflects the current price for one troy ounce of .999 fine silver.

> Do silver dealers charge a premium over spot?
Yes. A precious metals dealer will charge a premium over the spot price for various silver bullion products. This premium over spot represents the dealer’s gross profit margin. Dealers must, however, then subtract various overhead costs to determine their net profit.

> What is the spread on silver prices?
The spread on silver prices is the difference between what a dealer will buy silver for and what they will sell silver for. For example, if spot silver is currently priced at $17 per ounce, a silver dealer may list a basic silver round for sale at $17.80. That same dealer may also list an offer to purchase the same silver round for $16.50. The difference between the buy price and the sell price is the dealer’s gross profit.

https://www.bullionstar.com/help/price-premium