Where in the economy do metals sell at the spot price?
If you sell gold or scrap metal to a dealer you get a fraction of spot price, which is no surprise since the metal needs to be transported and melted down and reprocessed and everyone in the chain needs to make some money. And if you buy metals retail you pay a premium over spot price, which is still no surprise, since you’re paying for whatever value was added to the metal, like drawing copper into wire or stamping a pretty picture on your gold bullion coin.
But even if I buy copper ingots from an industrial supplier, they cost about $15/lb, over three times the spot price (and just as expensive as an “art bar” bullion copper sold retail on Amazon.com.) I guess I’m paying a premium to someone just to make that ingot available to me.
But who sells the metals to whom *at* the spot price?
I would expect to find these trades (contracts representing actual physical goods) happening in commodities exchanges like the Chicago Merc. Places where you find futures contracts traded – sometimes we should expect the material to be needed on the spot by a buyer.
Disclaimer: I’m speculating.
Speed Art #3: Gold Ingot
|
|
Silver mine of La Croix-aux-Mines, Lorraine,.. – 3×2 inch Fridge Magnet – large magnetic button – Magnet $4.99 Rectangular wrap-around refrigerator magnet and a glossy mylar cover.Large 2×3 inch rectangle fridge magnet or ‘buttons’ as they are sometimes known in the USA.Crop shown is automated for display purposes only. All magnets are hand finished and the best most appropriate crop will always be selected to best show the full image. Therefore, actual product may vary slightly from crop shown – this can … |
|
|
Silver mine of La Croix-aux-Mines, Lorraine,.. – Mug – Standard Size $14.50 This mug is created using the finest dye sublimation techniques and creates a stunning dishwasher safe finish. Great as a gift, or for promotional items. Each of our mugs come individually boxed for protection in transit…. |
|
|
Silver mine of La Croix-aux-Mines, Lorraine,.. – Tea Towel 100% Cotton – Art247 – Tea Towel – 46x70cm $20.49 100% Cotton. Made in UK. Size 70cms X 46cmsThis is an automated preview only. Actual Tea Towel design may vary. All products are hand finished by our expert manufacturers and the best crop available will always be selected…. |
|
|
Alone in the Wilderness – 24H x 18W – Peel and Stick Wall Decal by Wallmonkeys $33.99 WallMonkeys wall graphics are printed on the highest quality re-positionable, self-adhesive fabric paper. Each order is printed in-house and on-demand. WallMonkeys uses premium materials & state-of-the-art production technologies. Our white fabric material is superior to vinyl decals. You can literally see and feel the difference. Our wall graphics apply in minutes and won’t damage your paint or l… |
|
|
Weinfaesser – 36W x 27H – Peel and Stick Wall Decal by Wallmonkeys $51.99 WallMonkeys wall graphics are printed on the highest quality re-positionable, self-adhesive fabric paper. Each order is printed in-house and on-demand. WallMonkeys uses premium materials & state-of-the-art production technologies. Our white fabric material is superior to vinyl decals. You can literally see and feel the difference. Our wall graphics apply in minutes and won’t damage your paint or l… |
|
|
Three 3D Golden Bullions with Reflection, Ingot, Bar – 24W x 18H – Peel and Stick Wall Decal by Wallmonkeys $33.99 WallMonkeys wall graphics are printed on the highest quality re-positionable, self-adhesive fabric paper. Each order is printed in-house and on-demand. WallMonkeys uses premium materials & state-of-the-art production technologies. Our white fabric material is superior to vinyl decals. You can literally see and feel the difference. Our wall graphics apply in minutes and won’t damage your paint or l… |
|
|
Silver mine of La Croix-aux-Mines, Lorraine,.. – Greeting Card (Pack of 2) – 7×5 inch – Art247 – Standard Size – Pack Of 2 $6.50 This photographic Greeting Card is created on 300gsm FSC approved card. The result – a stunning reproduction at an affordable price. Actual size 7×5 inch.Greeting card comes with high grade white envelope as standard.This is an automated preview only. Actual Greeting Card design may vary. All products are hand finished by our expert manufacturers and the best crop available will always be selected… |
|
|
Silver mine of La Croix-aux-Mines, Lorraine,.. – Mouse Mat Art247 Highest Quality Natural Rubber Mouse Mats – Mouse Mat $12.99 Natural Rubber Mouse MatAll products are produced from the highest quality natural rubber.Heavy Weight Traditional Mousemats actual size: 250 x 190 x 6mmCrop shown is automated for display purposes only. All mousemats are hand finished and the best most appropriate crop will always be selected to best show the full image. Therefore, actual product may vary from crop shown…. |
|
|
Silver mine of La Croix-aux-Mines, Lorraine,.. – Protective Phone Sock – Art247 – Standard Size $9.50 Fits all iPhones and BlackberriesFinest NeopreneThis is an automated preview only. Actual Phone Sock design may vary. All products are hand finished by our expert manufacturers and the best crop available will always be selected…. |
|
|
Silver mine of La Croix-aux-Mines, Lorraine,.. – iPad Cover (Protective Sleeve) – Art247 – IPads 1 And 2 $32.00 Fits iPads 1 & 2Finest NeopreneThis is an automated preview only. Actual iPad Covers design may vary. All products are hand finished by our expert manufacturers and the best crop available will always be selected…. |