09/07/2020
PSA about today's silver ad in the newspaper. We have had people asking and wanted to say that these types of ads are designed to be tricky and make you feel like you are ordering a lot of special silver that they just found in a hidden vault that the government is now releasing. Nothing is further from the truth and the prices they are charging are absurd. Almost every week we see, often elderly folks, fall for these types of ads that make it seem like the silver is special when it is really just produced by some mint that is charging double what a regular bullion shop would.
These "sealed vault bags" have nothing to do with the U.S. government (if you read the small text at the bottom). The pictures make the bars look like 10 oz bars, when in fact they are only a half an ounce of silver (really small bars). Spot on silver closed at $26.79 on Friday, meaning that if you came into our store we would sell you a single half ounce of silver for $16.39. If you want a single bar from them, they are charging $50.00 (or $100 per ounce)! They only to come down to $29 ($58 per ounce) if you order a bag. Their "Jumbo Silver Ballistic Bag full of 100 1/2 ounce bars, or 50 ounces of silver would cost you $2,900. 50 ounces if you came into our store would be $1489.50 as of Friday.
Long story short, these really small bars (probably about an inch in length, much smaller than the photo in the paper) have horrible prices, are not special, and are designed to get people that don't know a lot about silver, or elderly folks, to buy their product. We aren't saying this as a way to get you into our shop, any bullion shop in Montana likely has far better prices. Just be sure that you don't get stuck buying these bars on a newspaper or TV ad.
Please share with anyone susceptible to buying silver off the newspaper ad or TV commercial. They are never a good deal and always feel free to contact us if you have questions.