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Interested In Purchasing Silver?
I was thinking about purchasing silver and looked at online retailers but they have different products at different prices. Has anyone used any of these retailers or have any advice. To me .999 one troy oz of silver is silver.
Thanks
6 Answers
- ?Lv 78 years ago
Auroch has obviously never purchased silver, so why does he answer? Not a clue.
You can't go wrong buying stamped silver bullion bars and rounds from reputable dealers like Apmex that are minted and recognized everywhere in the world (sometimes with a serial number that can be checked, which you cannot do with a coin). Or w/o serial numbers, whatever. Plus you have the spot price and bid/ask spread right on their site. As long as you know the current market price quoted on the commodities exchange, you won't get ripped off. Numismatic coins are for dealers and collectors, and a worry about getting them scratched and assayed. Bullion is just fun to have around without the hassle.
Ebay and Amazon are the worst prices, but your local coin dealer should be legit, especially if you go in there with a current quote and earn their respect.
http://www.apmex.com/Category/518/Silver_Bars_1oz_...
http://www.tulving.com/goldbull.html#silver
Bullion Investing Guide
http://www.free-bullion-investment-guide.com/
You can also purchase a gold or silver ETF in any standard stock account, ticker symbols GLD and SLV and bet on the change in price without holding the physical metal. If you plan on trading in and out of these metals, this is the better way to go.
You realize of course, that precious metals are in a serious long-term downtrend? Getting a bounce here, but too early to tell. A good way to average into a position is to buy in small portions or thirds. You may hit the bottom here for awhile, but the trend in silver price is still down until further notice. If price of production for the bigger silver miners is $16/oz, then prices could still fall further by quite a bit.
If you do it this way, you are minimizing risk by minimizing size. Betting against the trend is not a time to leverage up. Increased risk, leverage down (small size). Then when the new uptrend is confirmed and it starts moving in your favor, push a winner and leverage up (buy more).
- revsuzanneLv 78 years ago
Only Midas Resources and Northwest Territorial Mint. Midas was best... they really try to get the stuff into your hands at the best possible prices, and they have deals to include educational videos and books.
Premiums are up overall since that last smackdown. Nobody is going to sell at less than they paid for it.
For the most part, when I have some money... preferably over $1,000 so I don't pay sales tax... I head to my local coin/bullion dealer. Premiums are usually lower. They treat me right and they can scan things I think might be hinky or weird, even if I bought it elsewhere. I like experts.
Some will argue in favor of US and Canadian Mint products over others. I have a wide variety... all sorts of mints and special issues. I stick to 1 ounce round and square, and the occasional 10 ounce bullion by a big brand. I do recommend getting some of the 90% silver circulated US coins... you will need smaller coins to do barter with.
Stay out of the stock market, especially ETFs... there's been huge draw-downs in physical metals inventories in the vaults. We're expecting both defaults on the futures exchanges AND a stock market crash fairly soon.
Source(s): good news sites: www.sgtreport.com www.shtfplan.com www.usawatchdog.com www.zerohedge.com www.maxkeiser.com - ?Lv 45 years ago
the respond is definite you ought to objective to possess somewhat silver and gold in case you're able to have the money for it and save it stashed away. they're the two fairly high priced suitable now simply by fact all the main important worldwide places of the worldwide are printing paper money like there is not any day after today with no longer something to back it up. the heritage of civilization shows us that certainly in user-friendly terms gold and silver are real money. edit - in case you prefer to tell while a society is desperate to fade, watch the money. on each occasion destroyers between adult adult males seem, they start via destroying money. for money is mans secure practices and the backside of ethical life. destroyers grab gold and bypass away to its proprietor a counterfeit pile of papers - Ayn Rand gold should not be seen as an investment yet for what that's - money the only ingredient that rather is money shares and bonds are no longer something yet paper. people who're in ability could have you ever have faith that money has free of charge, yet while that's real why could anybody settle for it in substitute for some thing that does have cost ?
- Anonymous8 years ago
Depends on how much money you have. One thing to do is everytime you get some extra money, go to the coin store and buy old worn out US coins... This way you're not paying for the coin - you're paying for the silver content. BUT, you are buying a US coin which is instantly recognized for what it is and carries a date.
The problem with buying bar silver or silver anythings is that they could be fakes.
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