So you pay 25 LTC to receive like 13 LTC back? why would i want to do that and lose 12 LTC
Very few people can buy silver at true spot. Dealers always charge a premium based on what type of silver they are selling.
If it is a mass produced 100 oz silver bar.. sure you will pay very close to spot.
If it is a mass produced US Mint American silver eagle, you will pay dollars more per spot. I would guess $4 dollars over spot right now.
The reason for the high premium for the American silver eagle is that it is trusted by everyone. High quality.
If the silver round is a small run, very few being made, the costs to make it are high. That means the premium will be much higher then a silver eagle.
The creator of the round obviously does not want to take a loss.
The people who want to buy one realize it is more a collector's item then it is a silver purchase for the metal.
The production of putting a label on the coin that contains LTC takes time and money. That adds to the cost.
The creator is donating 1 LTC for every coin sold to the litecoin devs.
And that is why it costs what it does. If you want silver as cheap as possible goto your local coin store and buy a mass produced 10 oz silver bar or