Skip to comments.Vanity: Seeking advice on buying silver
Posted on 02/14/2014 6:43:09 PM PST by Kolath
Looking into buying silver and needed advice (do's and don'ts). Was thinking of both 1oz and fractional coins (1/2, 1/4 and 1/10 an oz).
Where can I buy (recommendations) and how can I properly store them?
Was looking to spend under 1k.
Buy something that throws off dividends.
Farm land to lease out would be what I would buy iffin I had 2 nickles to rub together.
I have used Blanchard & Co. out of Loiusiana in the past. I was pleased with the service and time to delivery.
Buy “junk” silver. This is circulated U.S. sliver coins minted before the silver was sandwiched with copper.
It is the least expensive way to go and you can still use them as money, if necessary.
A bag of face value $1000 junk silver will cost you $16,580.00 at Affordable Jewelry & Precious Metals in Portland, OR (ajpm.com). Or you can sort through your pocket change religiously, which some people do.
Just my .02.
Spread out your choices. 1 oz rounds are good but try getting change for them. Buy some Rounds and then buy some “Junk” Silver... they are the 90% quarters and dimes. They usually come in $500 and $1,000 face bags. You can use them in smaller quantities and not need change.
Ann Barnhardt agrees with this, buying bags of old silver coins
Find a local coin shop, get to know the people there. You’ll save on shipping, and you’ll pick up the rhythms of the metals market through conversation and observation.
I like dimes and a variety of 1 oz silver rounds. The Perth Mint makes some beautiful coins.
Better to buy lead.
Whatever you decide, buy the stuff on Monday as Silver just crossed a major resistance level ($20.60) and is set now to potentially outperform gold, which is already kicking the stock market’s butt this year (reversion to the mean as the reverse was true last year).
I would not touch the stock market. Even if we do not have a crash for a while, the fact that the market has done exceedingly well the last few years is setting itself up for underperforming. Too many people are bullish on the stock market, which is a sign of a top, just as too many people (especially at the end of 2013) are bearish on the precious metals, a sign of a big breakout (contrarian signals).
I read somewhere that “junk silver” is a good way to secure fractional silver. It consists of coinage containing percentages of silver and they come in large bags. As far as gold goes, you might want to check reputable dealers like one I researched named Golden Eagle Coins located in Laurel MD. They have a very loyal online customer base. Very nice people and they ship out faster than any of the large named corporations.
Whole heartedly agree.....
Try www.apmex.com They have a good selection on-line and you do not have to speak to an “advisor.” You just fill up your cart and check-out.
If you want silver, try to get the best price per ounce that you can, and not pay too much premium for fancy grading, or packaging. In my opinion, the only exception to that rule and the smart play is 1 oz American Eagles, various dates. Fractional silver coins have too much of a premium for my taste.
I like Gold coins too, but I don’t know if walking around, post collapse, with a $1,500 coin in my pocket to go buy some milk and bread is a smart play.
That would be dimes and quarters 1965 and under, as I understand.