| Author |
 Replies: 22 / Views: 4,241 |
Page 2 of 2
|
|
|
|
Pillar of the Community
United States
4901 Posts |
Silver Eagles are the easiest to buy and sell. Find the dealer with the lowest premium and go for it...whenever you have the cash buy a roll and stow it away. I've been doing that since 1986....
If you can get ANY other silver at or near spot that would also be a buy...look around...there are deals to be made
|
|
Pillar of the Community
United States
863 Posts |
personally I like junk silver. It is easiest to find at spot or very close to spot prices.
|
|
Bedrock of the Community
 United States
12845 Posts |
Yes, junk is important if you're going to be investing in Ag. It helps defray the premiums paid on other types of Ag and is just as liquid as ASEs, Phils, etc. And yes, you can almost always get it right at spot or just a bit higher. I usually mix it up when buying... a few ASEs plus a few bucks face in 90% junk or something like that.
|
|
New Member
United States
13 Posts |
I like to mix it up a bit, some raw ASEs, some MS-69, some MS-70. Then Morgans or Peace dollars, Walking Liberty, Franklin and Kennedy halfs, etc. I like to buy online from APMEX or ebay. Many times you can get close to spot on ebay for nice raw ASEs or get an MS-70 for less than $60. Part of the fun is seeing what kind of deal you can get. I don't buy "junk" usually on ebay, because there is not much difference in price between "junk" and nice coins. I like to have something worth collecting, in addition to the possible investment value. I like another member's advice (I apologize, I can't remember what post) who said: "Set a budget and stick with it. Buy the best coins your budget allows." |
|
Pillar of the Community
United States
1027 Posts |
It is important to remember that the lowest price per ounce item is not always the best buy. Some items have low per ounce prices but large buy to sell margins, making them poor investments because silver has to increase more before you break even. Silver Eagles at $3 to $4 over spot is not all that bad in small quantities when you consider that the mint sells them to the APs at $2 over spot. A lot of places will give you that same $2 over when you sell large enough amounts (more if the mint is on allocation). Gold typically has a much lower buy to sell margin (by percentage) than silver so you might consider it for investment purposes, along with the occasional silver wonder like the 2011 SAE set (and maybe the current 2012 SF set).
|
|
Pillar of the Community
United States
2541 Posts |
$ cost average since silver can be volatile. Whatever gets you close to spot will be good, but a lot of people hate 80% Canadian silver (I personally like them for Numismatic reasons) so I wouldn't buy these for silver investment.
|
|
Bedrock of the Community
United States
19966 Posts |
You really can't go wrong with ASE's. When it's time to sell, nobody ever questions them. Silver rounds can be a little questionable because there's some fakes out there. I still prefer gold over silver. If possible, save up and buy gold instead. It will take a lot less space to store and, if you look at the 30 year chart, it certainly tells a nice story for an investor. |
|
Pillar of the Community
United States
4989 Posts |
If you want to buy in substantial volume, get a brokerage account and buy a major ETF such as iShares SLV that holds the physical metal in a vault. I do that all the time with zero issues.
With that, you have full SIPC protection against fraud (covers about $250k) so if the ETF is misrepresenting itself you are covered by the feds just like FDIC insurance on a bank account.
Advantages are that you can buy/sell within a tiny fraction of spot and it's 100% liquid. Also, don't have to worry about it being stolen. Many homeowner policies don't even cover rare metals unless you have a special rider and if you have to file a home insurance claim expect to pay all of it and more back when they increase your rates. A buddy of mine had wife's wedding ring stolen and they have been nickel and dining him with high premiums ever since.
|
|
Pillar of the Community
United States
3184 Posts |
Don't invest, just enjoy and have fun. If you gain money, wonderful. If you lose money, well you had fun
|
|
Pillar of the Community
United States
3283 Posts |
I like junk silver also. If you can get classic coins at melt your bound
to get some with additional numismatic value as well.
|
|
Pillar of the Community
United States
2295 Posts |
Quote:
If you want to buy in substantial volume, get a brokerage account and buy a major ETF such as iShares SLV that holds the physical metal in a vault. I do that all the time with zero issues. That is pretty interesting. I've never done that, but it doesn't sound like a great idea to look into. |
|
Pillar of the Community
Canada
3692 Posts |
LOL, the opposite is true in Canada. Canadian coins are revered and US anything is frowned upon. If I were American I would also invest in some personal insurance, S&W, for example. I would just buy bars if I were you since they have the lowest premiums (biggest bars possible). However, I would like to add that you should look into just completing MS sets because they are a bit less volatile than bullion. If someone offers you spot for them just say you're not interested in spot price and find a better dealer. Me, I diversify as much as possible. If I see something that I like, I buy it, no matter where it's from, but I do try to keep it at .720 so that it holds some value. You can sometimes get deals on coins .500 or .720 so watch for those because people don't value them as much so they sell them for VERY close to spot price, in my experience. I would stay away from bullion proofs until I knew the market a little better.
|
|
Rest in Peace
United States
2668 Posts |
Another vote for junk silver coins. Dimes especially; as, if the economy does tank, you will be spending them.
I also hold some Canadian and Mexican silver and currency.
|
|
Pillar of the Community
United States
1704 Posts |
My personal recommendation on buying silver for the long term is to have a mix of 90% coin (All denominations) and .999 bars. Englehard, Johnson - Mathey and silver bar manufacturers I buy. I don't buy art bars since many dealers don't pay as much for those as they do for the previously mentioned manufacturers. Ed ANA LM-3175 |
|
Pillar of the Community
United States
863 Posts |
the best investment of silver is any silver you can find for a price you can afford. lots of things hold premiums and therefore are harder to sell which is why I like junk silver.
|
|
Page 2 of 2
|
Replies: 22 / Views: 4,241 |
Page 2 of 2
|
First Page
Posted 07/03/2012 11:31 am
