Do people actually pay hundreds of dollars over spot?!

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#1 Tue, Dec 6, 2011 - 7:46pm
0351
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Do people actually pay hundreds of dollars over spot?!

I mean, I know what the actual spot price is, and what normal percentage over that the reputable companies charge. I got bored and was looking at random things like Amazon and the like, and there are 1 oz gold coins for sale for 2500, 2600 dollars. Silver is like that too in those places. I can't believe that anybody would actually be so stupid as to fall for that...

Any thoughts?

Edited by: 0351 on Nov 8, 2014 - 5:31am
Tue, Dec 6, 2011 - 9:33pm
nickelsaver
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Just look at Ebay

There has to be a certain percentage of newbies that feel like they just have to buy some metal right now and go to the only place they know.

Back when I first started to stack, it didn't take me very long to figure out which dealers had the best prices. I'm almost exclusive to providentmetals, unless the other sites have deals.

of course, a 1oz eagle @ 2600 will seem like a deal very soon.

Wed, Dec 7, 2011 - 10:50am
bern
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amazon.com doesn't offer

amazon.com doesn't offer vendors any mechanism for having prices tied to a live spot price. Since I imagine vendors have better things to do with their time than constantly update prices for a dozen or more items listed for sale there, they likely just put a large enough premium to cover the crazy volatility we are seeing these days.

Wed, Dec 7, 2011 - 6:06pm
0351
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Well sure,..

I mean, even at such prices you may eventually come out on top but I mean all you have to do is type "gold/silver spot price" into Google. I am reasonably new myself, but I did the research. I mainly use provident as well. Speedy delivery and no bull.

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