Varmint
NES Member
So, it is not an actual price of anything. Why would you buy "at spot + anything" and sell minus the premium? Who would do that and why? I want to sell at a premium. This makes no sense.
It’s the instantaneous price, but if you want to buy a silver coin or bar, it wasn’t mined and made that minute, it was mined months ago and made weeks ago so the price of that coin is influenced by a lot of factors. The spot price is still very useful for everyone in the industry.
The premium can be small compared to the profit you made. If you bought a silver eagle 3 years ago you paid probably $18, and can sell it today for $25-26 to an APMEX, or probably more privately. But only really worth selling if you need the money. Don’t buy PMs to resell for profit. Just buy PSLV or silver miners.