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Ping rono

DAK
edited May 2011 in Off-Topic
Hi rono,
Did you ever buy silver directly from a mine or only from kitco and others. How do you know you are getting a good price? I found a mine that will sell directly and wondered about premium over spot. Thoughts???
http://www.store.firstmajestic.com/

Comments

  • Hi DAK,

    I have never bought from a mine and would hesitate to do so. Not because of the price, per se, but because of the pedigree . . . or lack thereof. Fungibility is crucial when buying physical bullion. The American Eagles can be traded at most McDonalds - almost. If you buy an ingot from The Eldorado Mine how will it be assayed, stamped, weighed, etc. I own some rounds and small art ingots but very few. The rounds and ingots I own are ALL either Engelhard or JohnsonMatthey. They cost a bit more than junk pieces but they sell for more and more easily.

    'I don't like the color of your money stranger',

    peace,

    rono
  • I didn't know you could buy directly from mines.
  • You could go down to Potosi and dig your own ore. But it is breakbreaking work for the indigent miners there.
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