|
Dynamic pricing is a strategy where the price of a product or service changes in real time or periodically based on market conditions, demand, supply, competition, or other external factors. It’s widely used in e-commerce. In general terms dynamic pricing means the price isn’t fixed — it “moves” depending on data inputs. In our case the price is adjusted each month for silver coins based on the spot price of silver. The price of the silver golf coin marker is Coin Price = Spot Price + Premium. As an example, a silver coin might be listed online for $19.85 when silver trades at $40/oz, but if silver rises to $44/oz the price would be adjust up to $20.75. Similarly, if silver falls to $36/oz the price would be adjust down to $18.95. The premium moves significantly slower and is based on Collector Demand, Condition, Historical Significance and Market Trends like popularity. In this way dynamic pricing ensures that coin prices always reflect current market realities which is primarily driven by the changing value of silver. |