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 Replies: 19 / Views: 3,314 |
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Pillar of the Community
United States
1375 Posts |
Quote:
...10 ounce bars retail for about 18% over spot while most other forms are in the 40% over spot range. American silver eagles are the worst investment at 76% over spot while 100 ounce bars are the best investment at 12% over spot...  Suggest you shop around. You can easily find lower premiums than these from reputable dealers. |
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Pillar of the Community
United States
2004 Posts |
@ BadDog, What reputable dealers would you suggest? I just checked ebay for offerings from APMEX and one of my favorite bullion dealers, D.B.S. in California. Both are offering 10 ounce bars in the $270 range or just a little less. With current spot at $22.88 that would be $228 spot for the bars. An 18% premium adds another $41. so the total would be $269. Other so called reputable dealers are even higher for generic bars. Premiums can fluctuate on any given day just as the spot price can. I am using the 18% as a starting point. Sometimes it can drop to as low as 14%. All depends on best deal you can find at the time you are interested in buying. Edited by MisterT
08/08/2023 11:00 pm
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Bedrock of the Community
 United States
25767 Posts |
You will not get rich overnight with silver, unless the market goes crazy and you cash out.
Inordinately fascinated by bits of metal with strange markings and figures
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Pillar of the Community
Canada
5405 Posts |
Good luck we would all love to know how to make money
in precious metals . IMHO it is a mugs game !
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Bedrock of the Community
Australia
21788 Posts |
Look at current silver price charts, and those covering the duration of your silver investment horizon, on a weekly basis.
Nobody can predict the future; the above advice can be likened to a bird flying backwards.
You are still left to taking responsibility for making your own buy / sell decisions.
In the meantime, some navel gazing as bullion stackers are prone to do, can provide some interesting discussions.
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Pillar of the Community
United States
2263 Posts |
"the above advise can be likened to a bird flying backwards" Which part? Surely not mine  Edited by livingwater
08/09/2023 08:19 am
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Pillar of the Community
United States
1792 Posts |
I'm with livingwater, gold and silver bullion are stores of value. If you are looking to increase wealth, put money in tech stocks (depending on many variables including your time horizon and risk tolerance.)
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Pillar of the Community
United States
4333 Posts |
As an investment, physical silver has been horrible ten year short term. I know quite a few that bought two years ago and were paying upwards of $35/oz (including premium). Today it's ten dollars cheaper and premiums coming down. Even I bought highs as far back as 2011 when silver almost broke $50. I'll be a buyer again at $20, I now only buy the big dips although I never sell. If you want to profit you may want to play the paper silver game.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
4333 Posts |
@ MisterT - check out Monument Metals, secondary market 10 oz bars currently $243.70. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
2287 Posts |
You shouldn't invest in silver to make a profit.
Chances are you'll lose money.
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
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Pillar of the Community
United States
1375 Posts |
MisterT asked Quote:
@ BadDog, What reputable dealers would you suggest? The forum's rules won't let me include the link, but there is a web site that lets you find bullion prices. It doesn't show all the bullion dealers but does show many and indicates what the lowest prices for various bullion products are. As I write this, Ag spot is indicated at 22.76. So, an 18% premium would be about +4.10 per ounce over spot. That bullion price comparison website lists 9 dealers with a premium less than that per ozt for 10 ozt secondary market silver bars, with the current lowest being Silver Gold Bull at +2.30 per ozt or a little over 10%, much less than 18%. Vermillion Enterpises, a bullion dealer in Spring Hill, FL posts (usually) weekly videos on You Tube where they indicate their buy and sell prices for various bullion products as well. Those prices don't include shipping and you don't get to request specific dates, manufacturers, etc. but that will give a price to compare as well. Their most recent video had 10 ozt random bars at spot + 1.50, but their minimum shipping charge is $13 which would add $1.30 per ozt for a total of +2.80 per ozt over spot. Edited by BadDog
08/11/2023 09:49 am
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Pillar of the Community
United States
2004 Posts |
Thanks BadDog, I'll check into it.
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Pillar of the Community
United States
7295 Posts |
I buy from my local dealer. I don't consider silver an investment, so I buy stuff I like rather than the lowest price. This is all bullion or basically what I paid at Spot + a small premium.  |
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Moderator
United States
54284 Posts |
Say I bought silver at the beginning of 1974 for $3.28 per ounce.
Today Silver is $22.75 per ounce.
Was that a good investment?
First, the value of $3.28 today, due to inflation, is $18.76.
That means I profited $3.99 ($22.75-$18.76) in 49 years. I beat inflation!
But if I sell it, Uncle Sam will say I profited $19.47.
At a capital gains tax rate of 20%, that's $3.89.
So, when all is said and done, I did maintain my wealth plus 10 cents.
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
 United States
5192 Posts |
Quote:
So, when all is said and done, I did maintain my wealth plus 10 cents.
Which is what precious metals supposed to do: preserve Purchasing Power. If you want to become wealthy, invest wisely and/or start a successful business. |
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Posted 08/08/2023 10:40 pm
