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silverfuturist: Bid vs Ask price on Kitco
Prepare. Buy physical silver and storable food.
The bid price is how much the exchange will pay you for your silver.
The ask price is how much the exchange will buy your silver for.
The 2 prices are a little different, that is how the exchange (a business with expenses) pays its bills.
Nobody in the world is forced to use the Comex prices. Anybody can create their own exchange if they don’t like the Comex.
You are free to ask for as much as you want for your silver, and you are free to make offers for silver as low as you want.
For individuals buying and selling silver back and forth, it is up to them to decide which price to use. If the buyer and seller are on even footing, usually they will take the average between the bid and ask price. Bullion goes for a premium because the Comex price is the price of silver atoms, while bullion is convenient and accurate weight and measurement that takes effort to create.
2012-11-22 23:43:14
Source: http://silveristhenew.com/2012/11/22/bid-vs-ask-price-on-kitco/
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