Jim’s Rant For The Day. Today’s Street Price For Silver.
Jim Costa
May 26, 2022
1 min read
After the close of Wall Street today their reported Silver price per ounce is $22.25.
But the method I use to gauge the Street Price indicates it is $39.88.
This means that the Broker's Fee is now $17.63 when just four years ago it was around $3.00 per ounce.
The method I use to get the Street Price is to take JM Bullion’s spot price then look up their selling price for a quantity of (100) 2022 Silver Eagle coins purchased with a credit card. That price is now $39.88. See: Link
Isn’t it a shame that we have to take their lie and adjust it to the actual price?
Jim, good approach. But, I think you are using the wrong comparison product. 'Market' (ha, ha) quotes are for bulk silver. American Silver Eagles are special coins. JM Bullion also sells 'silver rounds,' one ounce 'generic' coins. Prices for those are as low as $27.77 per coin when purchased via credit card:
https://www.jmbullion.com/1-oz-medieval-legends-lady-godiva-silver-round/