I write concerning the “paid advertisement” on page B6 of the Feb. 26 newspaper.
The ad for Central Mainers to buy silver is misleading at best. Many people watch the precious metals markets but don’t truly understand the actual buying and selling of metals. This ad makes it seem that these “limited edition” silver bars are a good deal, and are likely to become a hedge against inflation.
The fine print of this sales ad reveals that buying 10 of their bars costs $290, for 5 troy ounces of weight. Meaning the purchaser receives silver bars that cost $58 EACH.
Currently, raw pure silver is $15.84 per ounce. I’m a retail jeweler that regularly deals in similar metals. We sell bars like this for $3 over spot price. Therefore, a 1 oz. bar would cost under $19 per ounce — $19 vs. $58.
And there is no collectible value to these, other than the Maine logo being stamped on them. Nobody will buy these back for more than spot price.
Buyer beware, and the newspapers should not accept these kinds of ads.

 

Andrew Russakoff

Skowhegan

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