Posted on 12/19/2011 7:15:51 PM PST by GlockThe Vote
Guys, I am looking to buy physical silver. Bars or Coins for TSHTF scenario.
I have dry food, Have guns , ammo, gear, cash, knives, water purification, library of books on TSHTF situations, have three months of water on hand etc.
I am looking to buy physical silver and have looked at a few websites and want to know the best way to do this? coins, bars?
Junk silver. These are silver money - dollars, half-dollars, quarters and dimes - minted pre-1964. Coin silver is 90% silver and you can usually buy it in coin stores or precious metal dealers - the people who sell 24K gold Krugerrand and Maple Leaf coins.
It is possible to buy silver bullion in one ounce rounds, but those are NOT money and you cannot go into a business and use them as such.
Junk silver would probably work well for you.
I’m listening…
a silver dime is worth over $2 I think and will rise in value in an economic disaster. I’d buy silver dimes. lots of them. maybe some quarters too.
But, my investment people pointed out to me that during Katrina in New Orleans, what good would gold and silver done those people?
I've got a store of silver and some gold, but big bags of rice will make a better bartering good.
Do you know any sites? I was just about. To buy a few 10 oz bars from a website called Amex or something like that which has high ratings. I don’t want to get ripped off.
The reason to buy gold/silver is not to have something to spend during the SHTF time. It is to have some wealth preserved when the SHTF is over. Bullets, booze, toilet paper, food, etc. are what you barter with during the SHTF.
I already have ammo, guns, water, gear, dry food, katadyn filter, solar radio, TSHTF bag in every car and at the office, library of books, toiletries, etc.
I am at the point where I have a lot of extra cash laying around I want to put in to physical commodities like siilver or gold. My hesitation on farm land or vacant land is due to the property taxes where I live.
Amen! But I have that! I want to know where to go for a reputable source for physical silver not to get. Screwed over.
What does that mean? I have a few sites where I can buy 10pz bars locally but it seems quite a bit over spot. I want silver over gold due to price and flexibility.
I’ve been buying silver for about the last 15 years or so. I started back when it was around 5 bucks an ounce or so and finally quit when it got over 25. I’ve got a mix of one ounce rounds, “junk” coins, bars, etc. I’ve done business with the same guy at the same store all those years.
So here’s my advice. Don’t buy from the ‘net dealers. The shipping and premiums will kill you. Find a local coin shop. Tell him or her you want the pre ‘64 US coinage. Oh feel free to toss a one ounce or two into your stash, but the stuff that will be the easiest to convert will be the US coinage.
And remember you’re NOT buying this as an investment. You’re buying it to store value. And those are two entirely different things.
I buy my Krugerrands from a local coin dealer. He has has been in business for over 35 years. It is easy to check the internet for the latest offer price and compare it to his offer price.
http://www.bulliontradingllc.com
I live in NYC and was looking at these guys locally.
My main goal is not to get ripped off. I have a gun guy I deal with for guns, and have a few websites I deal with for TSHTF gear like sportsmansguide or emergency essentials but want to start getting physical silver while not getting ripped off.
Affordable Jewelry & Precious Metals
http://www.ajpm.com
OR Ebay. You can occasionally find deals on Ebay, but I stopped buying junk silver there three years ago when the price started to rise.
AJPM has listed, under silver bullion, bags of $1000 face-value silver coins for sale at $21,060 each as of 7:16pm PST.
That means the face amount of the coins, be it $1 or 10 cents, in the bag is equal to one thousand dollars but will cost you, to buy, $21,060.
Can you get it somewhere cheaper? I originally bought mine on Ebay three years ago but had to sell due to family financial emergencies this year. The value when I sold the silver was nearly $40 per oz. It has dropped since then.
At present I have no gold or silver coins, period.
GTV, SatinDoll has good advice.
A friend tells me that silver bars are useless to buy or trade for small items. The 1964 and before US dimes,quarters and halves are denominated, they are already money, they have an established silver content of .900(90% silver).
He also says to stay away from silver dollars, especially “uncirculated” ones, as they are being counterfeited by the Chinese to beat the band these days.
No one bothers to counterfeit the junk silver coins.
The value changes daily. Check here for the info,up to date, and scroll down to the silver coin section:
Junk silver is available at coin shops. Just pay the multiplier of face value all the way to right, for example, if the silver is worth 21x face value, then you pay $ 2.10 for a dime, $ 5.25 for a quarter, and $ 10.50 for a half dollar.
Do not buy extremely worn coins, or beat up coins. Just pick out the nice, circulated,normally worn coins. Add up the face value, use the multiplier and that’s the price you pay. These coins have no numismatic value—they are common dates and still plentiful.
Buy some of all three denominations so you can mix and match and trade for anything you need.
At least that is what my friend tells me.
Everytime I go into Costco I buy two big bags of basmati rice from India.
Rice and toilet paper are going to be what I barter.
http://www.americancoinnj.com/
where I have been buying silver 'rounds' for a while. I get physical possession and the shop is happy to take cash.
Here’s what I’ve learned is not getting ripped off.
Find a local coin guy. He WILL charge you a premium over “spot” price. That’s ok. Where the rip off can come in is what EXACTLY that premium is. My guy charges 1.50 an ounce over “spot”. I consider that fair. You may or may not. That’s between you and your dealer.
Some premiums are fixed, some are a percentage. Whether or not you consider them fair is entirely up to you. I personally would consider anything over 3% or so over spot too much. But that’s me. You may or may not be willing to pay more.
You should not be buying gold.
Ammo...lots of ammo. 9mm, 5.56 FMJ, 7.62, 12 ga Slugs, 12 ga 00 buck, 04 bird.
Can’t eat gold, but I can eat with ammo, and barter with it for other things.
Not that there will be a whole lot of wildlife left if things go in the crapper. Deer will be gone in a few weeks, squirrels and rabbits in the neighborhoods will gone, as will the ducks, geese, and pigeons. Last to go will be the songbirds.
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