Provident Metals Spot Prices?

[Goldfish]

Why are Provident Metals spot price charts always higher than what Kitco has for spot prices? Silver is consistently .10 higher on Provident's website when compared to Kitco. Am I missing something?

[Tinbox]

Just seems to be the way they have it set up. Price always seems to be close to .15 cents over the forex ticker price.

They still have the best price on many items though I believe.......

[Tinbox]

For example 26.69 on forex and their price is 26.82, 13 cents difference, better than I usually see.

[Goldfish]

Thanks Tinbox. Wasn't really concerned with the .10, but was just confused. Agreed Provident seems to be the cheapest on many items.

[Mike Brandt]

Looks to be more consistent with Kitco's ask price.

[EMP]

When the prices were crashing yesterday, Provident's spot price quotes were 55 cents higher than kitco for silver. In addition, they raised their own premiums too, erasing any benefit of buying on the lower "Actual" spot price.

[Argentium]

When the prices were crashing yesterday, Provident's spot price quotes were 55 cents higher than kitco for silver. In addition, they raised their own premiums too, erasing any benefit of buying on the lower "Actual" spot price.

I'm glad someone else noticed this. However, I'm not overly critical of them, they still have metal and are selling with "reasonable" premiums. They are free to set pricing, as they please. It seems like their prices are very similar to APMEX, eliminating Provident's advantage over APMEX.

Going forward on future purchases, I will check APMEX's pricing before buying.

[Foghorn]

I placed a small order yesterday. When I figured in the shipping Kitco and Provident were about equal although Provident price on ASE was higher than Kitco.

[Tinbox]

When the prices were crashing yesterday, Provident's spot price quotes were 55 cents higher than kitco for silver. In addition, they raised their own premiums too, erasing any benefit of buying on the lower "Actual" spot price.

Provident's site was having serious issues, at other times their spot price was appropriate when the site finally "updated", while at other times the price was too high as you mentioned. Right now their spot price for silver is 23.44, right on......

I noticed they did increase their premiums pretty much across the board but they still have some decent pricing.

.59 over spot on 100 oz NTR bars in any quantity.
10 oz year of the snake or NTR bars are 1.19 over on less than 10 of them, 10-49 .99 over, .79 cents over on 50+

Their 1 oz generic premiums did get moved up substantially, even if buying in quantity the best you can do now is about $1.50.

Another decent deal right now is their 1/4 oz incuse rounds for 2.98 over spot per oz if you buy 400+ (100 ounces or more). Or their 1/2 oz incuse rounds for 1.58 over per oz, although you have to buy 250 oz+ to get that price on those...

[Tinbox]

Not sure if you can actually checkout with product right now at Provident, but for some reason there pricing is not updating. Staying at 23.44 for silver and 1370.30 for gold, nice little discount if you are indeed able to buy. There site appears to be functioning normally other than the spot price.

[EMP]

They are free to set pricing, as they please.

Yes, this is true. They can price their products as they please, but to misquote the spot price of the metal itself seems to be a bit dishonest to me. If silver is quoted as a certain price worldwide, then Provident shouldn't be saying that it's a higher amount.

[Argentium]

Yes, this is true. They can price their products as they please, but to misquote the spot price of the metal itself seems to be a bit dishonest to me. If silver is quoted as a certain price worldwide, then Provident shouldn't be saying that it's a higher amount.

True enough. Their spot price list does say "World Spot Price", perhaps their world is limited to Lavon TX?

Checking today, their silver spot price is only $0.10 higher than Kitco, which is the norm for them.

[platinumdude]

True enough. Their spot price list does say "World Spot Price", perhaps their world is limited to Lavon TX?

Checking today, their silver spot price is only $0.10 higher than Kitco, which is the norm for them.

Isn't the 10 cents the difference between the bid and ask price?

[Gcubed]

Isn't the 10 cents the difference between the bid and ask price?

It depends on the market maker.