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 Replies: 17 / Views: 4,531 |
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New Member
United States
4 Posts |
Hi, I've read that if I'm starting collection bullion, start with silver. I've got $1,500 or so to burn, so I was on APMEX and found two things that interested me, wanted to know if they're a smart buy, or a poor buy. I'm considering a combination of the following options, leaning towards one American mint and one Canadian mint, just now sure what the best year is (if it matters): MintDirect 20 Coin Tube of 1 oz American Silver Eagles for $672.00 (2010 Year) MintDirect 20 Coin Tube of 1 oz American Silver Eagles for $674.00 (2011 Year) MintDirect 25 Coin Tube of 1 oz Canadian Silver Maple Leafs for $847.45 (2011 Year) MintDirect 25 Coin Tube of 1 oz Canadian Silver Maple Leafs for $857.45 "Wolf Pack" (2011 Year) Purchasing one American and one Canadian will put me right in budget. But if anyone has any suggestions, or thinks I should steer away from the MintDirect options, please let me know, thanks! |
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New Member
United States
7 Posts |
If I had $1,500 to "burn", I'd get 10 oz bars of silver from APMEX! :) |
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Pillar of the Community
United States
1510 Posts |
my friend uses them exclusivly-- he loves them.
Retired USAF 1983-2003
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Forum Dad
 United States
24147 Posts |
They sent me a 1 oz. silver round for Christmas. I'm going to do a contest in the next few days and give it away.
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Pillar of the Community
United States
4989 Posts |
Why would you pay $33.60 per ounce for bullion silver (plus shipping I'm sure...) when spot is $29 and change?
With $1500 or so to invest, you can buy silver electronically for just a few dimes over spot inclusive of broker commission (i.e. the SLV ETF which trades like a stock and holds all its assets in the physical metal)
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Valued Member
United States
463 Posts |
With silver where it is you have two options
1. hope silver goes down in a few months and just by small amounts while waiting in case it goes up
2. If you are in a rush to get silver, I would go more with 90% silver coins vs bullion coins as you will get more silver for your money. If you were to buy any of those, the only ones that would be worth it would be the wolfs as only 1m mintage vs millions on the others
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Bedrock of the Community
Australia
21786 Posts |
Think about dollar cost averaging. Don't know what that means? Try Google.
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Pillar of the Community
United States
958 Posts |
fenton is right no need to pay above spot.
get a silver account ,most places charge 2-3% to buy and 2-3% to sell
plus it will be eazy to sell
I have a ad on CL . I BUY SILVER COINS
Simple as that.
Most of the 2010 price guides and internet coin guides are out of date for common low grade metal being siver jumped so much last year.
I just ask what they have and what they want to sell for.
Bought a roll of worn franklins for $5 each back when silver was at $20 a ounce.
the guy looked online at some guide and saw worn half dollars were worth $5 each
so thats what he was asking.
Most guys just call coin shops get a offer and the coin shop offers around 15 +/- times face.
Then they might call your ad and you can offer 17X -20x face and still get silver cheaper then melt
Silver dollars are what 22.60 now and buying um even at $20 each is still %10 below spot
I mean you dont want to drive all over buying one or two coins gas would cost to much.
But maybe they can come to you or just deal with people that have more tehn $100 in silver to sell
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Pillar of the Community
United States
4989 Posts |
The first thing any serious investor learns is that TRANSACTIONS COSTS MATTER! Over time, paying 10% premiums to buy and sell will quickly eat you alive. After only 10 trades, assuming the investments flat line (super common), you would be down a whopping 65% on transaction costs alone.
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Valued Member
United States
467 Posts |
Better prices at Provident metals IMO. APMEX is not as good price wise unless you're buying 100oz or more. I have bought from Provident a few time and they were very resonable with fast shipping. |
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Valued Member
United States
314 Posts |
The OP wants to collect Bullion, not paper. He never mentioned buying, flipping. @Fenton: If you really think every piece of paper silver is backed by the physical silver, you have alot of research to do, starting with J.P Morgan. For starters, it's estimated there are 100 pieces of paper being traded for every one ounce of physical. If a substantial amount attempted to claim the physical at once, it simply is not there. To the OP: Provident and APMEX are both good, reliable places. Pay via a money order or check to avoid the 2-3% increase in price by using a credit card. Shipping will take longer, but the savings is worth it. I would suggest looking at their Silver Eagles(not mint direct) or bars. You may pay a higher premium for the Eagles, but look at their buy price. They also pay a premium over spot should you sell them back. I may also add, there are NO charges added to you for selling them physical. |
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Pillar of the Community
United States
3592 Posts |
 Buying "paper silver" sounds like another Madoff in the making. |
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Pillar of the Community
United States
524 Posts |
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Pillar of the Community
United States
2424 Posts |
in my opinions, a "safer" investment would be to buy high grade silver. for example buy some ms64/65 franklins, Peace dollars or semi-key dates in high grades. they will not be affected as much if at all by the rising/falling prices of silver |
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Valued Member
United States
442 Posts |
Quote:
It may lead you in another direction Thats a horribal direction no one can predict metal future's |
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Pillar of the Community
United States
3592 Posts |
[Thats a horribal direction no one can predict metal future's/]  Not sure what you got out of the article...but the poster is buying silver...it is only which type that is the question. |
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Replies: 17 / Views: 4,531 |
Posted 01/05/2011 11:13 pm
