Why Precious Metal Dealers Charge More Than the Spot Price
If you've ever shopped for gold or silver, you’ve likely noticed that the price you’re asked to pay is higher than the spot price you see online. This difference, known as the "premium over spot," reflects a combination of factors. Dealers are businesses—they need to cover operating costs, shipping, insurance, and still make a profit. Spot prices represent the base market price, often applicable in large-scale trading of 100 or 1,000 troy ounces, not individual or small purchases. Retail buyers generally pay more, just as you would when buying individual items versus bulk at a wholesale store. Dealers also watch competitors’ prices closely to remain competitive while maximizing their margins. This markup is not unique to gold—it’s standard practice across all precious metals. At US Precious Metals, we strive to remain fair and transparent, typically pricing around 9% over spot, and offering deeper discounts for larger purchases. Additionally, we enhance the value of your investment through secure shipping, free delivery on orders over $500, and a 30-day money-back guarantee. Understanding the reasons behind the premium helps you buy smarter and set realistic expectations when investing in precious metals.
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