How To Buy Silver For First Time?

Greenprint,
Turn on your PM icon, I would like to give you two sites that I belong to that would help you start to acquire the silver that you are looking for. These sites are not run by the big boy bullion dealers. These sites are people like you and me that are looking to buy/sell/trade precious metals between each other. You can get some pretty good buys. I would give you the sites here, but the administrators don't look kindly on that, I believe.

Get an ebay account.

My first few bullion purchases were individual coins from local coin shops. Back then there was no way on earth I would have purchased online the way I do today. Those early small buys were all about educating myself and building confidence in my own ability to know exactly what I was buying.

After my first couple of coin purchases, I decided on my first buying goal: collecting a BU example of each of the government minted silver bullion coins. Soon I had at least one ASE, Canadian Silver Maple Leaf, Britannia, Philharmonic, Australian Kookaburra, and so on. I pretty much ignored price and bought each of these coins from dealers in whom I had absolute confidence would not sell counterfeit coins. In hindsight, I was probably being more cautious than necessary. However, I'd soon collected an interesting assortment of world bullion coins.

However you decide to get stated on your silver buying, the bottom line is that you have to start somewhere.

Well like what is your silver hoard? I was thinking I would make my silver hoard my emergency funds instead of having 10,000 saved up in emergency funds, I would have 10,000 in silver stashed away. I think this would be wiser instead of 10,000 quickly devaluing dollars.

Like for example I get in a car crash and have hospital bills sort of thing and needed some way to pay several thousands of dollars because my insurance wouldn't cover it. I'm thinking that getting in such an accident is very unlikely and that 10,000 would just sit and do nothing for a couple of decades and so precious metals would be better and if I never need it then it could be my kids college savings, although 10k won't pay for much lol

I agree, CW, that an emergency fund for unexpected expenses is a great idea. PMs for emergencies is also good but probably works best when considered for the long term. Cash first, though, then PMs.

I prefer to purchase Silver Bars and Silver Rounds over pre 1964 Silver coins. I like owning the purest silver I can get my hands on especially when I look at the daily spot prices. It makes it easier for me to know the value of my silver hoard. While I like ASE, I tend to purchase generic silver rounds. The spot price is less for generic silver than for ASE.

Some of my favorite places to purchase silver is on ebay, Goldmart, and my local dealer. Goldmart has some of the lowest prices for silver bars and rounds on the internet. ebay is a good place to find a great buy if you do a little research and have the patience to wait around for a good deal. As for finding the lowest price over spot, my local dealer cannot be beat. His prices are only a dollar over spot and I don't have to factor in shipping costs whenever I make a purchase. The only downside to my dealer is the selection he has. Sometimes finding generic silver bars or rounds is hit or miss.

The best advice I can give you is to shop around. There are a lot of good deals out there and with a little knowledge and patience, you will become an expert buyer in no time.