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 Replies: 18 / Views: 4,592 |
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Bedrock of the Community
United States
10982 Posts |
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Pillar of the Community
United States
2049 Posts |
It would help if you gave your definition of a "modest" increase over spot. You might get some people on the forum willing to offer you some silver. ;)
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Valued Member
United States
467 Posts |
Always look local first, You can usually find the best prices that way, unless you have some dealers who seriously over price bullion, some do, some don't.
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New Member
United States
42 Posts |
bherring1964 - I agree, buy 90% U.S. silver....nice bar, btw....Billy
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Pillar of the Community
Canada
3692 Posts |
Agreed, try to buy local - for anything. Buying more than a few of anything will decrease the price a tad.
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Pillar of the Community
 United States
819 Posts |
Thanksz to all for the great suggestions. I was wondering about buying "Junk" 90% silver so I am glad someone gave input on that, somewhere I read that %1000 bags of 40% silver coins gives more silver for the buck. I am anticipating doing some purchases in a few months of so, have some funds due then.
by "modest" I mean that I realize the seller has to make a profit, I just don't want to be taken to the cleaners.
Thanksz again all.
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Pillar of the Community
United States
1055 Posts |
I would recommend APMEX. Their price over spot is pretty low, and they offfer quick, professional service for a variety of PMs, I think you can get the Canadian Silver Maple Leafs for less than the ASEs. From what I have found after the paypal fees and shipping and auction end prices that ebay can be rather expensive comparatively. |
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Bedrock of the Community
United States
10982 Posts |
Quote:
...bags of 40% silver coins gives more silver for the buck... I'd avoid the 40%. 40% is tougher to sell and often discounted below melt when bought/sold. |
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Pillar of the Community
United States
2541 Posts |
I'd have to agree with bherring. My local coin dealer told me he's not really interested in 40% halves because no one comes in looking for them. Everyone wants to buy 90% coin or bullion.
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Pillar of the Community
 United States
2448 Posts |
If you're into buying the commodity as a hedge, you should remember two things; Gold and silver go up like a staircase but down like an elevator, and that's how the Hunt brothers turned a large fortune into a small one.  It wasn't too long ago that silver was only $5 an ounce. |
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Pillar of the Community
United States
2448 Posts |
BTW gang, is there an Assay office anymore? Where would you send old silver jewelry to be melted down into ingots or rounds? I hope this is in the same thread as we're discussing.
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Pillar of the Community
United States
2335 Posts |
You can send old silver jewelry to a refiner. They will melt it down & either assay it or refine it to .999 fine.
In theory you can have them send it back to you once it's processed. In practice the refiner generally sends you a check for X% of melt & sells the refined product on the open market.
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Pillar of the Community
United States
819 Posts |
carmykyle....I remember when silver was $5 an ounce, I only bought 10 1-oz bars back then, now I wish I had loaded up! OK, I have ruled out 40% based on comments above, probably will be looking a ASE, 90% bags, etc. If you buy a $1000 bag of 90% does it come sealed? do you have to open and inspect it for shortages, etc or leave it sealed for resale? just asking, never bought any before. |
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Bedrock of the Community
United States
10982 Posts |
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If you buy a $1000 bag of 90% does it come sealed? do you have to open and inspect it for shortages, etc or leave it sealed for resale? I've only bought $100 bags and they were sealed with a crimped steel collar that I removed. I don't think it made a difference as to whether it was sealed or not but with a $1,000 bag it might. You should ask the seller. Remember those $1,000 bags are huge. Like a 55 pound duffel bag and $13,000 to boot. The coins tend to be pretty poor also. I've enjoyed buying AU or BU rolls for a small premium over melt much more. Franklin halves, Washington quarters and Roosevelt dimes are often available in AU/BU rolls for a very small premium over melt. |
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Valued Member
United States
56 Posts |
Is it bad to pay a small premium that ASE brings due to numismatic value? If I am paying 20% over spot due to it being an ASE, that's fine. If silver rises 20% in value, then ideally the ASEs will still be selling at 20% over spot which means an even bigger return on my investment. I recently acquired some silver recently but I'm reluctant to acquire too much. It can crash just as hard as it can rise, but I hate to put all my eggs in one basket...or even to stick with just eggs. |
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Posted 07/06/2010 11:57 pm
