Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Silver Prices
Silver Price
[Most Recent Quotes from www.kitco.com] Our RSS Feed

Silver Updates by Mail

Enter your email address:

Follow Us on Twitter
« A 20-Year Bear Market? | Main | Summary of Inflation and Deflation the United States »
Tuesday
Jul072009

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 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.

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter, just click here.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.

For those readers who are also interested in the nuclear power sector that is currently coming back into fashion, you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.



PrintView Printer Friendly Version

EmailEmail Article to Friend

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:

http://www.firstmajestic.com/s/OrderForm.asp

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

July 7, 2009 | Unregistered CommenterCam

Lucas,

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

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>