- Dec 21, 2020
- 89
- 318
Here's my problem with silver - spot price based on the commodity markets is about $23.50/oz today. The cheapest physical price is $27 to $28 or more depending on the round/bar. That's about a 15% to 20% premium.. I assume if I were to turn around and sell I would get roughly the spot price. So I need a 20% move in my direction to just breakeven. No thanks.
I do own physical silver which I acquired over the years at far less of a markup. Although I will admit most was purchased in the the mid $30 range. So I have been perpetually behind already.
Buying paper silver is really just a coin flip with a 50% chance of making money. The whole idea of actually physically owning it in case of some financial disaster does have some value but it's a large premium and you have to store it and eventually sell it....
I do own physical silver which I acquired over the years at far less of a markup. Although I will admit most was purchased in the the mid $30 range. So I have been perpetually behind already.
Buying paper silver is really just a coin flip with a 50% chance of making money. The whole idea of actually physically owning it in case of some financial disaster does have some value but it's a large premium and you have to store it and eventually sell it....