This weekend, with silver changing hands at $103 an ounce, an X account known as Stoic Trader said he was “sitting on 1,000 ounces of silver bars” and claimed he has been attempting to sell them, alleging that dealers are “lowballing 30% under spot.” The post spread quickly across X, drawing significant attention to the claim, prompting us to examine it more closely by checking what silver dealers across several U.S. states are actually willing to pay.
Silver’s Triple-Digit Moment Collides With Dealer Discounts and a Viral X PostThat same dealer said it would pay $95 for one-ounce Silver Eagles, an 8.04% reduction from spot. All three Florida shops had no hesitation buying Eagles, though offers ranged from 8.04% to 12.9% below the $103 level. Dealers in Texas paid slightly less, as two shops quoted $85 to $87 per Eagle, translating to a 15.8% to 17.7% reduction versus spot. Two shops in Massachusetts were also contacted and said they would pay roughly 90% to 92% of spot, exclusively for Eagles.
Across all our calls, we found no bids below an 8% discount to spot, with Texas shops offering notably lower prices than those in the other three states. Taken together, the results suggest that sellers of physical silver should expect offers at least 8% below spot, with the exact discount varying by dealer and product type.
FAQ 🥈 Why are silver dealers paying below spot prices?Dealers factor in resale risk, product type, and liquidity, which often results in offers below spot. Are American Silver Eagles easier to sell than generic silver?Yes, Eagles carry government backing and global recognition, making them more liquid for dealers. What discount should sellers expect when selling physical silver?Most dealers currently offer prices about 8% or more below spot, depending on the product and location. Does location affect silver buyback prices?Yes, dealer demand and regional market conditions can influence how much sellers are offered.
