Spot price is the "paper" price that those who deal in commodity trades pay for the various market-instruments available, i.e. futures, options, shorts, etc.I don’t buy precious metals, bars, coins etc. I’ve thought about it, but either the ODT is full of retards selling it, or I’m the retard. So if silver has a spot price of $25 per ounce, why would I pay $30 per ounce? In my mind it would be the same as me offering to give you $1300 and you give me $1000 back. Why would anyone pay $1300 for $1000 worth of anything. I’m not referencing future value, just what you can get for it today. So am I missing something other than speculation?
The price for physical silver, i.e. coins, bars, etc, i.e. something you can touch or hold in your hand, whether bought or sold through a dealer or private party, is governed by supply and demand.