GoldSilver2u.com’s High Premium and Wide Spread Gap

Back in November 2011, I reviewed GoldSilver2u.com’s above spot premium as well as their buyback spread. Just recently, I had an conversation with a reader of mine and we touched the topic of GoldSilver2u.com. I had a rude shock when I realized the premium and spread for GoldSilver2u.com has widen – in a big way!

Today, we are going to pay GoldSilver2u.com a revisit. Armed with my faithful calculator, we are going to revised our previous calculation on GoldSilver2u.com’s pricing. At current point of writing, the international spot price for silver is USD$34.78.

Back to November 2011: Premium Above Spot

^ Screen capture from GoldSilver2u.com on 26th Nov 2011

Refering back to the previous screen capture I made in 26th November, let us calculate the premium above spot back then.

Premium above spot in between 22% – 25% is acceptable.

Forward to March 2012 – Current Premium Above Spot

^ Screen captured from GoldSilver2u.com on 3rd March 2012

Considering Malaysia does not have import tax on silver bars, there is no reason for such high premium. Bare in mind that we are dealing with decent weight here (10oz and 1kg), not silver bars of one ouncers.

I would give it for PAMP Suisse as it is always known as the Rolls Royce of silver bars but 37.80% above spot price for TWIN TOWER silver bars? Really?
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8 Hillarious Cartoons on US Current Financial Situation

Here are 8 political cartoons I find funny by cartoonist Matt Wuerker which reflects to America’s current financial situation. While the subject of joke is no laughing matter, the comics are to view the crisis from a light hearted perspective.

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New Product: Scottsdale Silver Quarter Oz Round

Scottsdale Silver is introducing 1/4 (Quarter) Troy Ounce +.999 Fine Silver Round this coming March. We got the first hand news ahead of the public from Scottsdale Silver directly as we are Scottsdale Silver’s authorized dealer in Malaysia.

^ New Quarter Oz Rounds from Scottsdale Silver

The frontal carries the Scottsdale Silver’s signature lion head emblem while the back is marked with a 1/4 sign. The Quarter Scottsdale Rounds are available in tubes of 20 pieces (5 Troy oz per tube). Quarter troy ounce is 7.777 grams in weight.
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History Channel for Fort Knox: Secrets Revealed

If you are an Astro subcriber with History Channel (Channel 555), tonight you may want to spare an hour to watch the documentary on the world’s safest safe. Astro is bringing Fort Knox: Secrets Revealed at 8pm tonight via History Channel.

For those who have no clues on Fort Knox, think of it as the world’s safe deposit box, with 147.3 million ounces of gold in it [1].

^ Snippets from History Channel’s Fort Knox: Secrets Revealed

It holds a lot of consipiracy when it comes to the real amount of gold residing in it. Fort Knox has never been auditted and Ron Paul has been pressing the authority over and over again to open up it’s vault for stock checking. He worried that the government has secretly sold off part of the stockpile and replaced it with tungsten bars that are painted gold [2].

^ Radio talk on how gold bars from Fort Knox were actually tungsten bars dipped in a thin layer of gold!

While I myself have yet to watch the documentary, it would be interesting to know the history behind the world’s most secured fort. It may or may not touch on the topic of gold.
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US Debt Limit Made Easy

Here is a 3 minutes video on current US debt limit from a household point of view. This youtube clip has been watched by over 1 million viewers. It is simple and hillarious. I would recommend you to watch it as well. At the end of the clip, you will understand the current US debt limit situation.