People use the spot price as a reference value to trade locally. Even with local markup for physical metal, it's still operating off a reference price to mark up.
People trade silver digitally, but ultimately if we all called it in and said "give me my fucking silver", shit would get crazy real fast.
Here’s a question...how does my purchase at the local pawn shop or antique store affect the cost of bullion on the stock exchange?
It doesn't. But if the price of silver does skyrocket it would be good to have some physical silver you picked up for cheap somewhere.
Oh ok, good to know, thanks.
People use the spot price as a reference value to trade locally. Even with local markup for physical metal, it's still operating off a reference price to mark up.
People trade silver digitally, but ultimately if we all called it in and said "give me my fucking silver", shit would get crazy real fast.