2011 Silver question

[fourboysplus]

In 2011 when Silver was at it’s peak. Can anyone recal what Bullion dealers were paying? 

Was it spot price? Slightly under spot? OR was it’s substantially under spot due to many people selling? 

[ilovesilverireallydo]

8 hours ago, fourboysplus said:

In 2011 when Silver was at it’s peak. Can anyone recal what Bullion dealers were paying? 

Was it spot price? Slightly under spot? OR was it’s substantially under spot due to many people selling? 

Always the same percentage under spot as I recall. See the screenshot above. 

[Pete]

When silver was at its peak the market was on fire.
List a Kookaburra on eBay for £30 and its gone in minutes.

Dealers would pay spot less a margin, similar to today in percentage terms, but as people genuinely believed silver was going much much higher the demand was extremely high.
There was definitely a flurry of buyers and watching the price go higher almost daily, fuelled larger orders believing investing in PMs was a no brainer and only nice things could come as a result.
The rest is history and if you want to know more some of us old-timers might share their experiences as I did viz. the 2 oz Lunar Dragon ( 649tom) recently listed for sale here.

[sovereignsteve]

Was that archived page from 21st April 2011? If so gold was £915, far from it's peak of £1158 in early September. HGM were paying about £205 for a sovereign, approx 95% of spot.

The rise from June/July 2011 was almost vertical and between August 2011 to April 2013 it pretty much stayed above £1000