Those of you with experience in buying Silver bullion, could you help me? Wanna make sure my rationale is correct here since I'm very new to buying precious metals and don't wanna get ripped off.

Here is the local ad in question:
(500) 1 oz silver rounds - $28.50/coin

My analysis:
The ad states: "Price is $1.29/oz over the spot price for 200+ coins" - at present time (10:15am MST) the spot price for Silver (Ask price) is $28.30 per oz. This means that he wants $29.59 per 1oz of silver with .999 purity.

In comparison, I can buy a silver coin here for $29.63 at the time of this writing:
1 oz Silver Round 999 Fine Buffalo Design

Conclusion - assuming the coins are genuine, it seems like a good deal to me based on the comparison ($29.59 from local seller vs $29.63 + shipping, from a reputable dealer).

Can someone confirm that my logic is correct on this? Thx -
James

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