Quote Originally Posted by encorehunter View Post
I'm sorry, but I am not understanding all of this. You say locally, you can buy $3-5 over spot price. You pay 10-20% more (at $25/oz) than what it is worth, but when you want to sell it, you take a 10% hit. So what I am reading is you need a minimum of 30% increase just so you can break even. I have some silver, maybe 20oz, but all has been bought from individuals at spot price. I guess I am hopeful it will go up, but when you are 30% behind when you start, it makes a person wonder.
That's the retail scam of precious metals. The buyer is losing 25% to 30% of their investment before they get to see tomorrow's price that may go up or down.