The cost/oz goes way up the smaller volume/size silver you buy, can we get some idea's of the volume and or markup you are paying?
To have your shares issued with a silver cost of 5% above your purchase price and not to detail how/where/volume you will be (or already have) bought/buying doesnt really tell us anything other then the fact that we can get the same silver for 5% less on our own.
I've been converting my BTC into silver since Christmas, tried one of the online btc->silver dealer but in the end have settled up with someone local that sells cheaper then the btc shop, and saves me on any shipping costs. Are you using such services or buying the silver with USD somewhere local/online?
I see in your books you are starting out with 1oz, 31.1g of silver, is everything else being bought with the proceeds of the IPO or is it already secured?
I'm interested but not sure if this will prove to be an efficient way to purchase silver with btc.
Thank you for the great questions.
I purchase from a few sources depending on supply and price, Its almost a 40% local and 60% online mix. I purchase with USD and trade scrap silver and gold for coins and bars.
I have not purchased any silver for BTC with any of the vendors listing here. I do not currently have any relationship or agreement with any vendor.
I plan to expand the offering slow and steady, depending on demand I intend to add bars from 5 grams to 10 OZ once I list my current silver supply.
I don't know if I would be able to beat your cost for purchasing, but with bulk purchases I hope to be able to give the best value possible to customers.
