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« A 20-Year Bear Market? | Main | Summary of Inflation and Deflation the United States »

A Silver Birthday Present

PAAS Coin 07 July 2009.JPG

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 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
GBP 16.029

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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Reader Comments (4)

How sad it is to see that your children were introduced into what most of us would like to think of a legitimate currency only to discover that it is a "rip off" of the first order.

Imagine, if you had asked for "money" and in purchasing a $10.00 bill they had been charged $20.00 plus shipping.

The only good news in this is that after being ripped off enough times they will almost certainly revert to "barter" and decide that mowing the lawn for you will make far more sense.

When this sort of nefarious pricing is employed by those who supposedly intend to run legitimate businesses, even a course in "Fiat Money 101" would a waste of time.

On the far more positive side, I am pleased that your children attempted to please you with this gift. That is a real plus!

July 7, 2009 | Unregistered CommenterFred

I was wondering why at the top of your email theres the sub title the demand for silver is dying. As we all know that is not the case and at the bottom of this email its stated that silver is in a bull market, could anyone explain this?

July 7, 2009 | Unregistered CommenterLucas

First Majestic offers the same at a relatively small premium to the spot silver price:

MUCH cheaper (40%) than the Pan American price.

July 7, 2009 | Unregistered CommenterCam


There is nothing about silver dying on the copy of our newsletter that we get, so we cant explain it.

July 7, 2009 | Unregistered CommenterSilver Prices

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