In these modern times the spot price of silver and gold changes by the second. There is a market open somewhere in the world all 24 hours of the day accept for a few hours on weekends. Many sources report these prices and they do not always agree. For my business purposes I have found Kitco to be a good source and that is who I chose to use. Kitco posts a bid and ask price. My pricing will be based on these bid ask spreads and I will use the number that most closely corresponds with what is being used when I buy from my suppliers.
The second factor in my pricing is what I call the spread or premium over the spot price. This also varies considerably from day to day based on supply and demand and can be quite unpredictable. It can change up or down with or against the spot price. I try to average this variable out so my pricing is consistent. Sometimes such as in 2008 there were dramatic shortages of physical silver and gold. Wholesale premiums on some products grew to near 30% over spot. In the 1990s I sometimes retailed bullion at or below the spot price. It should also be noted that the premium pattern on different forms of the same metal can vary.
The final variable in pricing is my cost and my profit margin. For purposes of this web site I am pricing these products in the most efficient quantity that allow me to give you the lowest possible price. It is also my goal to keep your gold and silver buying as simple as possible so I am only going to offer on this site the forms of gold and silver that I have found to be most available, liquid and popular with the customers at my retail store.