LawrenceChard

That's a great example. i hope you don't mind me taking it a little further: So spot price of coffee as a commodity is about £3.80 per kilo. When you buy a single shot espresso for say £2, it will contain about 7 grams of coffee. So one kilo of coffee beans would make about 143 cups of espresso. At £2 each, that means a kilo of beans sells for £286, while the commodity cost of the 7 grams of beans would be less than 3 pence. Divide that by £3.80, and it works out at more than 75 times the cost of the beans, or 7400% premium. Now if you asked Starbucks (other coffee chains are available), to buy it back from you straight after you bought it, would they offer to pay you 3 pence for it. Probably not, the cheating, scamming, thieving, bastards. I'm going to stick to water in future. Here goes: The cost of rainwater is zero. Have you seen the price they charge for a bottle of still water in Aldi? How about in a restaurant? Scandalous! 😎

If you were "quoting" me, I was talking about dealer's profit margin, not premiums. The two things are entirely different, with the sole exception of any case where the cost price was the same as spot, ignoring VAT. 😎

Right now: Quantity Premium Price Per Item (Exc. VAT) Price Per Item (Inc. VAT) Total (Inc. VAT) Est UK Delivery 1 £3.60 £20.56 £24.67 £24.67 £3.50 As I copied that, spot silver was £16.85 per ounce, making a 46% premium. I would ask him why he bought it ain the first place, why he changed his mind, and why he chose not to listen to my excellent advice, as linked above. Have you read it yet? "So lets say for example paper market says spot price is $17 for silver and you sell physical silver for $100 for 1oz. I come in your shop, buy it for $100 but few secs later changed my mind don't want it and sell it back to you. So you will buy if off me for spot price $17 only for my physical silver? Sounds like a scam daylight robbery lol. " Why are we thinking in dollars now? Have you been listening to too many American loonies on YouTube, and been brainwashed? You have still not clarified what sort of physical silver you are thinking / talking about. One ounce silver bullion coins? How would they ever get to 5.88 x spot price? Which lunatics would be stupid enough to pay that? If it was a modern two ounce silver proof UK Una and the Lion coin: Una and the Lion UK Two-Ounce Silver Proof Coin Limited Edition 3,000 Price:£180.00 (£90 per ounce)... I'd happily give you a fat profit on it If it was something old and rare: 9 of the most valuable coins in the world Below are some of the most valuable coins in the world, but they’re not all limited to museums and wealthy private collectors. A couple of these might just turn up in your couch cushions. 1. The 1794 Flowing Hair Silver Dollar picture alliance/Getty Images The 1794 Flowing Hair Silver Dollar may sit atop the rankings of the most expensive coin ever sold, at least for now. Some experts believe that it was the first silver dollar struck by the U.S. Mint. The front features a profile of Lady Liberty with flowing hair, while the reverse shows an American eagle. Fewer than 1,800 of these coins were ever produced, and one expert puts the number of remaining coins at between 120 and 130, so it’s quite rare. The coin sold at auction for just over $10 million in 2013. That works out to about $20 million per ounce! I'm advising you to invest iin gold rather than silver, and you seem hell bent on ignoring my advice, then accusing me of being a scammer and daylight robber: "Sounds like a scam daylight robbery lol. " Try buying silver coins on ebay if you want to learn about scams and daylight robbery!

Riots! 😎

I hope he doesn't see this! 😎

That's very close Dave. The specified weight is actually 7.98805 grams, sometimes rounded to 7.9881 grams, which is mathematically sound. You are a lot more accurate than the Royal Mint, who habitually, and incorrectly state sovereigns to be 7.98 grams, which is just plain wrong. 7.99 grams would be better, mathematically speaking. Most dealers web sites also parrot what the Royal Mint say, including, I am slighlty embarrassed to say, ours. @ChardsCoinandBullionDealer take note! 😎

That's an extremely rare date for Victoria! I think the "Least current weight" is 7.93787 grams. Below that it may not be considered as legal tender. This does not mean it is not collectable. I would happily buy all underweight 1841s for double their scrap value. 😎

OK then, chocolate covered peanuts it is. That should work a treet! 😎

You gone and done it now. He'll want another pay rise! Doug can do "moody" shots as well. 😎

No, because they might leave, and TSF would be "dismembered"! 😎

We're getting closer... ...or are we? 😎

I prefer 70+, but most chocolate coins are cheapo milk chocolate. How about chocolate 1841 sovereigns? 😎

At least he's got legs!

I am happy to agree in principle. Now we just need to negotiate an acceptable price... How about chocolate coins in gold coloured foil? 😎

I'm glad you got them quickly, and like them. We have now sold out (at least at the special offer price). That's a good enough photo for its purpose. Yes, Dave's photos are excellent! 😎 If we were based in London or Essex, we just might! 😎

You beat me to that. I should say less or type quicker! 😎 I blame the buyers who pay too much! 😎

I had to look to see what category you had posted this under, as it was not clear from you post whether you were talking about gold (my default assumption), silver, platinum, or something else entirely. Of course there are no "regulations or a certain limit max % over the spot price where dealers have to follow when selling the physical version". This is the UK, not China or North Korea, so we tend to be quite democratic and libertarian. Premiums on silver are necessarily higher than on gold. The cost to produce a one ounce gold or silver coin is proobbly similar, so that in relative terms, the production cost for silver is almost 90 times higher than for gold. Shipping cost per coin is higher, because 90 silver coins are heavier than 1 gold coin. While some dealers are content to make 2% margin on an ounce gold coin (2% of £1500 is £30), 2% margin on a similar silver coin, with silver about £17, comes to 34 pence. Iought to know what the staff cost is to sell a one ounce silver coin, but I don't. I guess it costs at least £1, which is about 6%. Then there is VAT, currently 20%. @James32 has already partly answered, shorter and sweeter than my answer. But you are surely not buying silver coins or bars (you don't state which) as an investment, are you? If so, I suggest you read this (shameless plug for advice guide written by somebody or other): https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041 I like silver as well, and I think it is cheap. Do you know the current Gold:Silver ratio? Sure, there are probably millions of YouTube influencers trying to persuade you to "invest" in silver. Some of them push Conspiracy Theories, some even seem to believe them. It's a lot like most religions. Many silver coins look nice, and so are good for collectors. A monster box of silver Britannias makes a great doorstop. Not all dealers try to fool people. I know. Mind you, I can only think of one who doesn't! 😎

Ah! I thought you owned it! 😎

Ugliest Coin of the Week - Ex-King with Arms Chopped Off 2005 Cambodia Gold Proof 3,000 Riels King Jayavarman VII 1162 - 1201 Kindgom of Cambodia Reverse: 2005 The Wonders of the World Collection Gold Taj Mahal of India 999.9 Gold Our photographer's comments: Coin designer: Can I add some bone to make it look as though his arms have been chopped off? Boss: Yeah go for it Coin Designer: Can I add some blood and torn sinews? Boss: No! I hope nobody is offended by the humour, it's only good 'armless fun! 😎

Thanks. What? Greedy Bastard! 😎 @ChardsCoinandBullionDealer

That looks like a fabulous coin.. But perhaps it's down to the fabulous photo! BTW: We have sold out in the last few hours.* * At least of the special priced ones. We usually try to retain a small quantity to meet residual demand... And also for when (if) they double in value! 😎

Proper stupid buyer! Got a link? 😎

I suspect some of that is down to the photo quality. ... But I didn't like to say! 😎

It seems to show that our credit rating at your bank is good, but it might be better if they could check with you and advise you instantly, especialy if that left you with a negative balance. It would also be better if the RM gave you some advance notice it was about to happen. If anyone cares to nominate for a non-executive directorship at the RM, i will include this in my long list of suggestions. 😎

Fair enough, but I expect to be reducing our 2022 bullion sovereign premiums back to 4.95% (single coin), or lower, within a few weeks. Meanwhile we are happy to accept orders from customers who don't mind waiting, at 5.35% premium. We do have a small "blacklist". Now I'll get reported for racist language! 😎