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- - spot, premium, ... a little help with this would be nice (http://goldismoney.info/forums/showthread.php?t=310537)

Miin | 10-08-2008 04:48 PM
spot, premium, ... a little help with this would be nice Hi, I started buying Gold a couple of weeks ago and Silver since today ... I try to follow other threads about buying coins but the terminology is completely new to me and to be honest ... I can't really follow. I've bought these coins in the presumption that they wil be worth several times their current value so I'm not looking at their price too much but it would be nice to get some pro explanation on spot, premium, and other related terminology. Thanks in advance.

Highwayman | 10-08-2008 05:16 PM
Re: spot, premium, ... a little help with this would be nice Read young Skywalker.. read. (and use the search feature)

jack555 | 10-08-2008 05:54 PM
Re: spot, premium, ... a little help with this would be nice spot= price at top right side of the screen premium is what you pay over spot

Vincent Vega | 10-08-2008 05:55 PM
Re: spot, premium, ... a little help with this would be nice Spot = price set by Comex and other exchanges Premium = additional fee tacked on by dealers Market = Spot plus premium, or what we call the real price to us investors Quote:
Originally Posted by Miin (Post 1343624) Hi, I started buying Gold a couple of weeks ago and Silver since today ... I try to follow other threads about buying coins but the terminology is completely new to me and to be honest ... I can't really follow. I've bought these coins in the presumption that they wil be worth several times their current value so I'm not looking at their price too much but it would be nice to get some pro explanation on spot, premium, and other related terminology. Thanks in advance.

flash91 | 10-08-2008 06:53 PM
Re: spot, premium, ... a little help with this would be nice Some physical info, Spot is usually what refiners will pay dealers, so if you sell the dealer likes to take a cut, so you get spot less something for your minerals. The high premium hurts because dealers don't pay anything like spot plus premium when buying. For example, if I pay $15 for a generic round, current buy back would be 11.60 (spot) - 1 (dealer fee). That means you have to be pretty sure of a 50% increase to break even. What you will pay all depends on why you buy and what you think the market will do.

goldminer | 10-08-2008 09:40 PM
Re: spot, premium, ... a little help with this would be nice If you're buying collectable coins as an investment for future gains, you better know exactly what you are doing or you can bet you'll get hurt.

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