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I Want To Purchase My First Silver Bar Online, Thoughts?

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crystalH's Avatar
Canada
85 Posts
 Posted 01/06/2012  4:40 pm Show Profile   Bookmark this topic Add crystalH to your friends list Get a Link to this Message Number of Subscribers
lol I'm new to buying. I have a massive pile of silver coins and gold from my grandparents but I thought Id like to keep the passion going and in the meantime make it sorta as an investment. I just have a feeling when I'm in my 50's or 60's (20-30 years from now) silver is going be what the price of gold used to be when I was in my late teens ($450ish an ounce)

So if any of you pro's could check out these silver bars and tell me what you think I should purchase, I would absolutely love some guidance. I'm kinda scared to buy online with knowing little about this, so hopefully my friends here can help a little.

http://www.apmex.com/Category/1190/...er_Bars.aspx

One more question. Does APMEX have a good reputation? If so, why?

Thank you :)
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Coinstar's Avatar
United States
1510 Posts
 Posted 01/06/2012  5:03 pm  Show Profile   Bookmark this reply Add Coinstar to your friends list Get a Link to this Reply
dunno but IMO I dont think silver will get that high-- if you can go to a local dealer you would get a better deal
Retired USAF 1983-2003
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Ed_B's Avatar
United States
4008 Posts
 Posted 01/06/2012  5:14 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply
Hello, Crystal, and to the CCF forums!

Buying that first silver or gold for your collection is a little scary at first, especially when dealing with an Internet vendor for the 1st time. We've all been through that time and can relate to it.

APMEX is one of the 3 on-line vendors with which I do business. I have found them to be very good suppliers. They have a large variety of products, reasonable prices, tend not to be out of stock too often, and give good service. Their shipping price can be a little high, though, especially on a per ounce basis when buying small quantities of PMs. APMEX is really good for US 90% silver coin collectors. They often have the nicer condition coins available while most other vendors just have the common circulated varieties of coins. As a collector who enjoys looking at my collection, I want the nicer grades of coins. Yes, they cost a little more but the enjoyment that they bring is worth the extra cost. They also have the circulated and even cull (really beat up, bent, holes drilled in them, etc.) grades of coins for those who just want ounces of silver and do not care how their coins look. You can save money with these or get more ounces of silver for the same money. Either way, it is nice to have that choice.

Other vendors I use include SilverTowne and Provident Metals. Both of these are also quite good as suppliers to gold and silver coin and bullion collectors. Provident has lower shipping than APMEX but is out of stock on some of the products that interest me a little more often than I would like. Their prices also tend to be a little lower than APMEX but this can vary on particular items. SilverTowne tends to have less variety but is seldom out of stock on the 5-oz. silver bars I prefer. They also have 1 and 10 oz. silver bars in their SilverTowne "donkey" bar series. SilverTowne sometimes offers free shipping on their Internet sales of bars, which is nice, but also tends to have less variety of products than either APMEX or Provident.

The bottom line is that you can't go wrong with any of these three. There are probably a lot of vendors on-line who would be good too but I have not bought from them. I am sure that other members will answer your post with good advice of their own. Just remember that when you buy on-line, you are looking at the total cost for the item(s) you order and for the shipping. By browsing the web sites of these and other vendors, you can often find sales and specials, some with free shipping, that will get you what you want at a good price.

Some collectors prefer that the bars they buy come sealed in a clear plastic covering. These are usually air tight and keep the bar from oxidizing and getting fingerprints on it for many years. If you ever sell or trade any of your bars, a dealer probably will not care about this but an individual collector might. For this reason, I prefer the SilverTowne silver bars. Other brands of silver bars may or may not be wrapped in protective plastic but new SilverTowne bars will be wrapped. If this is important to you be sure to contact the vendor and ask whether the bar you want comes this way. Good luck with your shopping!
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poboxw's Avatar
Canada
1502 Posts
 Posted 01/06/2012  5:22 pm  Show Profile   Bookmark this reply Add poboxw to your friends list Get a Link to this Reply
+1 for APMEX and I agree with every Ed said,
If you are ordering from Canada though and will be making that first purchase in small amounts, I would suggest silvergoldbull.com. Their shipping prices are more reasonable and there won't be any delays at customs ( APMEX ships FEDEX, and FEDEX will require you to fill out brokerage info once the package hits the border. The ~2 delay is inevitable unless you have an account with FEDEX already)
Valued Member
crystalH's Avatar
Canada
85 Posts
 Posted 01/06/2012  5:28 pm  Show Profile   Bookmark this reply Add crystalH to your friends list Get a Link to this Reply
Thanks so far for the replies guys!

I have a question Ed B. I went to the silvertowne site and I see some silver bars that are $45+ and I see some that are $30.60(2011 Dated 1oz .999 Silver Our Choice Design). Are they 30.60 because they are just plain regular silver bars and the other ones are higher because of the designs on them? I dont care about designs when it comes down to it, silver is just silver to me and id rather just get the best price possible.
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crystalH's Avatar
Canada
85 Posts
 Posted 01/06/2012  6:04 pm  Show Profile   Bookmark this reply Add crystalH to your friends list Get a Link to this Reply
hey pobox. I went to the site you suggested and it seems that the silver bars that they sell are 10oz and up. Am I not looking properly and there are 1 oz ones too?
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SilverEye's Avatar
United States
318 Posts
 Posted 01/06/2012  10:30 pm  Show Profile   Bookmark this reply Add SilverEye to your friends list Get a Link to this Reply
I have made a couple purchases from APMEX, very happy with them. I place the order and mail in a paper check to get the better price vs. paying with a credit card. Never had a problem with delays, as soon as the check clears they ship. You do have to buy in bulk to beat the vig on shipping.

Is there a particular reason you need to buy online? Why not check a few places around town, you might be surprised. I found a shop down the street that is cheaper than the online metal shops on Morgans, way cheaper on AGE's and fractionals, and a hair cheaper on 90% once you factor shipping. Don't know about bars, but you could let your fingers do the walking.

Just sayin'
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Silverhawk74's Avatar
United States
3670 Posts
 Posted 01/06/2012  10:31 pm  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list Get a Link to this Reply
"Are they 30.60 because they are just plain regular silver bars and the other ones are higher because of the designs on them? I dont care about designs when it comes down to it, silver is just silver to me and id rather just get the best price possible."

Crystal, and bars of their choice, will mean more generic like bars, which will only command a tiny bit beyond spot. Trust me on this one, YOU CAN'T GO WRONG WITH JOHNSON OR ENGLEHARD, as far as bars go, as they cost more, but will fetch back more an beyond down the road, again in my novice opinion anyway.....
Edited by Silverhawk74
01/06/2012 10:33 pm
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elkslayer132's Avatar
Canada
981 Posts
 Posted 01/07/2012  12:12 am  Show Profile   Bookmark this reply Add elkslayer132 to your friends list Get a Link to this Reply
there are many places in canada to buy silver bars without having to pay the high shipping fees and brokerage fees so I would not buy from ampex.
New Member
Canada
30 Posts
 Posted 01/07/2012  04:16 am  Show Profile   Bookmark this reply Add cwalker to your friends list Get a Link to this Reply
Let us know what you choose, and how the whole thing went.

Im finding most places don't ship to Canada, or they want waaaayyyy to much for it. I guess its not alot if your buying 10+ oz's at a time but when a guy only wants 2oz...and its $25 for shipping. Better deal to go to my local screwjob coin dealer and pay 40 an oz
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mariospaghetti's Avatar
United States
421 Posts
 Posted 01/08/2012  09:46 am  Show Profile   Bookmark this reply Add mariospaghetti to your friends list Get a Link to this Reply

Quote:
Better deal to go to my local screwjob coin dealer and pay 40 an oz


This line sounds funny but it is true. My local coin/hooby/ metal buyer has gotten a bit wiser and decided to drop the prices on ase/ run of the mills morgans and piece dollars because he wasn't selling any. He still mwants $6.00 over spot for ASE and $7.00 over spot for the later 2 items. OUch!
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barryg's Avatar
United States
5850 Posts
 Posted 01/08/2012  10:08 am  Show Profile   Bookmark this reply Add barryg to your friends list Get a Link to this Reply
I'm sorry, but I keep getting distracted by this part:

Quote:
I have a massive pile of silver coins and gold from my grandparents

Valued Member
United States
362 Posts
 Posted 01/08/2012  11:32 am  Show Profile   Bookmark this reply Add ICanSeeYou7687 to your friends list Get a Link to this Reply
I want some pictures!

As far as silver bars, at least in my opinion, you should get the bar with the lowest premium (that is, additional cost over the spot price of silver).

Things that should have premiums are things with history and other value which in my head means coins or other memorabilia. The englehard bars have always had a good name, and sought after which is why they usually cost more then the base price of silver.

But to me, if you are buying a bar you should not be paying to much over spot. Which is why I like silvertowne.com a lot. You can get bars at a great price with free shipping! Where APMEX has good prices, but expensive shipping which makes it almost not worth it unless you are getting bulk items.

And remember, buying these arent spending money they are simply reallocating it! Just my opinions of course, you or others may feel different
Valued Member
SilverEye's Avatar
United States
318 Posts
 Posted 01/08/2012  3:20 pm  Show Profile   Bookmark this reply Add SilverEye to your friends list Get a Link to this Reply

Quote:
And remember, buying these arent spending money they are simply reallocating it! Just my opinions of course, you or others may feel different


Tell that to my wife! She calls all my silver "shiny trinkets". Does anybody else not get a lot of support from their spouse?
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Coinstar's Avatar
United States
1510 Posts
 Posted 01/08/2012  3:56 pm  Show Profile   Bookmark this reply Add Coinstar to your friends list Get a Link to this Reply
yes silvereye I get dogged out too.


Quote:
Does anybody else not get a lot of support from their spouse?



Retired USAF 1983-2003
Edited by Coinstar
01/08/2012 3:56 pm
Rest in Peace
biggfredd's Avatar
United States
9104 Posts
 Posted 01/08/2012  4:01 pm  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
, crystalH!
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