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 Replies: 19 / Views: 3,312 |
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Valued Member
United States
137 Posts |
Hello, for a while I've wanted to start investing in silver to make a little bit of profit from it and to have fun. I know almost nothing about investing and this is kind of confusing me, so what should I know and where should I start?
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Valued Member
 United States
137 Posts |
I feel I should specify I want to be purchasing raw rounds and bars.
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Bedrock of the Community
United States
94367 Posts |
Do some serious Google searching about silver coin investing.
If you can't make up your mind after reading a few hundred entries, then get back to us with more specific questions.
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Pillar of the Community
United States
2263 Posts |
I don't consider stacking silver/gold investing. It's more to preserve wealth, inflation protection and to enjoy. There are many years where prices of silver/gold stay flat or go down. There are temporary big spikes down/up but generally it's a long venture, years for silver and gold to gradually go up. Though some YouTube channels about silver/gold are bad, there are several I'd recommend, Silver Seeker, Yankee Stacking, Salivate Metal, Smart Silver Stacker, etc. Watch a bunch of those before spending a lot of money on silver/gold. Buy the sales from reputable dealers who can be trusted, a local coin store, online, do not buy on Facebook, foreign sites where there are a lot of fakes. Some online dealers I like are SD Bullion, Liberty Coin, Bullion Exchanges and others. Don't expect to buy something and then flip it quickly for a profit. This takes experience and knowledge, spotting a good deal, knowing the collectable silver that is popular and may increase in value. Only buy silver/gold with extra money you have. Paying the bills, saving for emergencies and retirement are more important. Edited by livingwater
08/08/2023 9:06 pm
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Pillar of the Community
United States
2004 Posts |
I don't know if "Investment" is the objective here. The PM's are more of a hedge against inflation rather than an investment and the volatile nature of the price swings make it a long term "Investment". That being said, I have done some extensive research of gold and silver over the past 50 years. Mainly to figure if gold was over valued and silver under valued. My conclusion is that to be on par with inflation at this time, gold should be in the area of $1680 and silver should be in the area of $50 per ounce. Silver prices have been artificially suppressed in my opinion for quite some time. What's more, when you consider recent news of a possible Central Bank Digital Currency and who knows what devaluation of the fiat paper dollar will occur with the introduction of the BRICS currency later this month, it may be cause for alarm. You also have to ask yourself the question (What do the Big Bankers Know that We Don't Know?) as the largest institutions continue to hoard gold. If you want to dabble in the silver market my suggestion would be with 10 ounce bars. At $300 each or slightly less it is a doable small investment a little at a time. 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 but also require an investment of $2800 per bar. That is why I choose 10 ounce bars with a premium of 18% and only cost in the $300 range. I feel like I really can't get hurt too bad with this form of bullion. Everything is still a crap shoot and requires some amount of risk but when I consider worthless fiat paper money against PM's and the chaos of the financial system these days, I personally am bullish on silver.
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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
25751 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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Replies: 19 / Views: 3,312 |
Posted 08/08/2023 8:15 pm
