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I Want to buy some Silver
- Thread starter smcjoecohen@yahoo
- Start date
- Joined
- Mar 17, 2002
- Messages
- 1,753
APMEX.com
If you play the market smart and follow it closely, you can profit short term. Remember that you will pay a vig (spot+) to buy and again to sell. And play opposite the market. Buy on a drop when others are selling and sell on a rise when others are buying. Numismatics aren't generally a good long term investment.
- Joined
- Nov 25, 2005
- Messages
- 412
I want to buy a bunch of silver for when I die so my kids won't have to go through probate to get it.
Physical posession? Keep in mind weight and bulk and security. For example US Mint Sealed Crate of 500 American Eagle Silver Coins (500.000 oz.) $11,542.01 at current spot price plus shipping and insurance. Yes, you can buy assayed art bars and scrap coins but they are usually hard to sell at even close to spot. And coin silver is not pure silver. .773 Oz of silver in all Morgan and Peace dollars (before wear). They are 90% silver.
If you really want to invest in silver, buy from a reliable dealer. There seems to be fair amount of fake silver ingots being sold on you know where.
They look like they are from a well known refinery, but they are silver plated what ever.
Let me tell you about my experience with silver. Starting in the mid 1980s I began buying silver. The experts said that it would double by 1990.
I accumulated a bit over 500 oz. at an average price of $6/oz. When we moved to AZ in 2004, the price hung at about $4.40 and I was tired of sitting on it,
so I sold it. Made a killing didn't I?
Always remember that the definition of a precious metals dealer is a liar sitting behind a desk.
The 10 year high for silver was $48.58. Right now it's at $19.45. Yeah, that's a great investment.
They look like they are from a well known refinery, but they are silver plated what ever.
Let me tell you about my experience with silver. Starting in the mid 1980s I began buying silver. The experts said that it would double by 1990.
I accumulated a bit over 500 oz. at an average price of $6/oz. When we moved to AZ in 2004, the price hung at about $4.40 and I was tired of sitting on it,
so I sold it. Made a killing didn't I?
Always remember that the definition of a precious metals dealer is a liar sitting behind a desk.
The 10 year high for silver was $48.58. Right now it's at $19.45. Yeah, that's a great investment.
Numismatics and just buying bullion are two different investments. The good thing about rare silver and gold coins are that the value increases beyond the spike of the spot price. Buying freshly minted coins that have been graded and slabbed is ridiculous.
If it's not rare, it's just bullion. If you're looking at just investing in precious metals, buy ingots.
If it's not rare, it's just bullion. If you're looking at just investing in precious metals, buy ingots.
- Joined
- May 19, 2007
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- 7,745
You have to be very careful, as even big bullion companies have been burned by fakes, and I'm sure not all of the fakes have been admitted to. Its worse with gold plugged with tungsten since the margins are higher. with so many people playing in the physical metal market, I wonder how anyone can make much more than fractions of a percent margin.
- Joined
- Mar 15, 2006
- Messages
- 1,111
I also recommend APMEX.com and sticking with just the ingots or "rounds." Numismatics is a great hobby but a crappy investment. That being said, I have made 90% and 40% U.S. silver coinage a small part of my overall investment strategy just for the fact that they are easily identifiable and the silver content is well known.
I worked for Johnson Matthey years ago and I handled enough gold, platinum,palladium and rhodium to build a small town. There are all kinds of certifications required when dealing with precious metal and extreme measures are taken to avoid any loss. Even dirt that is swept or mopped up gets salvaged as well as shop rags. I doubt that any credible dealer in precious metals would get burned. The point I was making about numismatics is that rare gold coins values rise more than just the increase in their physical weight when gold values soar.
Yep. This or silvergoldbull.com are my general go-to's. Also, Ebay is good to score some deals though you have to be careful (authenticity being the prime issue.)
ASE's are great. The silver content is known, they are easily identified, and they are protected as currency. That is, selling a fake ASE brings the same charge as counterfeiting US Dollars.
If you really want to invest in silver, buy from a reliable dealer. There seems to be fair amount of fake silver ingots being sold on you know where.
They look like they are from a well known refinery, but they are silver plated what ever.
Let me tell you about my experience with silver. Starting in the mid 1980s I began buying silver. The experts said that it would double by 1990.
I accumulated a bit over 500 oz. at an average price of $6/oz. When we moved to AZ in 2004, the price hung at about $4.40 and I was tired of sitting on it,
so I sold it. Made a killing didn't I?
Always remember that the definition of a precious metals dealer is a liar sitting behind a desk.
The 10 year high for silver was $48.58. Right now it's at $19.45. Yeah, that's a great investment.
What you should be aware of is that Silver is a very manipulated market. That is, the FED (in collusion with some banks) are desperately trying to bring the price of metals down. Optically, this helps the Fed / Administration agenda. That said, if you believe that the price of metals is an objective yard stick of wealth then you really shouldn't care.
- Joined
- Jul 15, 2012
- Messages
- 1,884
Why does anyone besides insiders and experts, those who hold asymmetrical info and key trading info, bother with low utility goods such as metals? Spend your time and money on your education and skill development. They hold a lot more value.
That is a topic for political/educational philosophy, not the right section for it. My answer and opinion though would be that a person has a finite amount of time to do any one thing or group of things. Not so much a matter of asymmetry rather a matter of supplementation for projected needs. It's turning into somewhat of a necessity these days. Education and skill requires time and money, both very limited for many. At a certain age, it gets to be slim pickin's in the job market. Extra income helps.
Why do you have to be an "insider" to value an asset that has value beyond that which is assigned to it by the various governments?
Also, by definition, "inside" knowledge is impossible in the metals market. Manipulation is quite possible (and takes place) but its not based on "inside" knowledge. If you believe the value of your bank account isn't manipulated then I have some bridges I want to sell you.
that varies by location. In texas you pay taxes, unless you buy over $1,000 worth, then it is considered an investment. Whatever you do, do not buy at a gun/ knife show. I watched a crap head tell people that the run of the mill 1921 morgans were worth the $45 he was asking. They were poured in a pile in his display and pretty beat up. So I innocently asked whats different than those 1921 morgans and the ones I can buy online, since they are less than an ounce of silver, and current spot was $23.
That said, I am partial to Franklin halves and mexican libertads. Just think they are beautiful coins. American eagles are good around the world. Not a fan of fractional gold as the premiums are crazy.
Sources for me are APMEX, gainsville coins and a couple local shops for the most part, there are some better places if you are buying monster box quantities. Local gold and silver place does me right because I am a repeat business guarantee
That said, I am partial to Franklin halves and mexican libertads. Just think they are beautiful coins. American eagles are good around the world. Not a fan of fractional gold as the premiums are crazy.
Sources for me are APMEX, gainsville coins and a couple local shops for the most part, there are some better places if you are buying monster box quantities. Local gold and silver place does me right because I am a repeat business guarantee