Usually when my birthday rolls around I just cannot think of anything that I want or need so this year I suggested to my sons that one once of silver would be nice. Silver is nice to hold, an investment and I was curious to see how they would procure it, what it would cost and where it originated etc.

Well we can see from the picture above that they acquired a silver coin which was produced by the Pan American Silver Corporation, as a share holder I was pleased that one of silver stocks got this valuable business. The supply came from a website called nzsilver.com and cost NZ$41.40 with another $2.00 for shipping.

Now using the xe currency converter this coin retails here in New Zealand at NZ$41.40
or
US$26.1234,
CAN$30.2843,
GBP 16.029
AUS$32.7617
CNY178.497
etc.

Now if we take the current price of silver as quoted by Kitco this morning we have a figure of US$13.30 per ounce, which means there is a difference of about 100% between Comex and the customer. We need to add in the cost of shipping, taxes, handling charges and a profit for the retailer, but double the cost of the item appears to be a tad on the high side to us.

Maybe we should be looking at some sort of import business for silver coins and bars?

Any thoughts – then fire them in.

Have a sparkling week.

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