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 Replies: 18 / Views: 4,588 |
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Pillar of the Community
United States
819 Posts |
I want to put away some silver against future inflation. Searching on the web gives too many dealers, etc. Since all charge a premium over spot, does anyone know of a reliable source with a "modest?" increase over spot? It seems as if there is much variation out there. Also possible looking at buying ASE's, the price over spot includes numistmatic value and I am not sure that much extra premium would pay off in the long run. Any comments? |
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Valued Member
United States
290 Posts |
APMEX and kitco are reliable. APMEX has ocassional "sales." I'd start with them. Of course, there is e-bay, and forums like this one, and the kitco forum member sales section which is more for bullion. I have also bought from the realcent forum. But buying in these forums means you have to build a reputation from postings.
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Pillar of the Community
United States
573 Posts |
If you're looking for bullion and not worrying about numi value, check with your local dealers. I've picked up a number of ASEs at $1.00 over spot because they were "problem" coins. For example, one of them had a small (2mm across) milk spot on it. Others have small scratches marring their pristine surface. It makes no matter to me since I buy them for the silver, not the grade.
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Pillar of the Community
United States
2373 Posts |
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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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Replies: 18 / Views: 4,588 |
Posted 07/06/2010 7:01 pm
