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89gt-stanger
Penny Sorter Member
USA
59 Posts |
 Posted - 08/03/2009 : 11:10:38
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Hey guys. So basically, I want to start investing in silver. I do not want to mess with .925, only .999 bars, rounds, eagles, maples etc. Where can I get the best prices on these? The cheapest I have found so far is UNC American Eagles for $18.50/ea. Can yall help me out?
Thanks!
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 08/03/2009 : 11:23:19
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It depends upon how much you're gonna buy? If you buy a lot at once, you get good discounts. How much you're thinking about buying will determine where you will buy your silver.
If you got the BIG cash - go to TULVING or WCM and make your money count. If you've got less cash, look at APMEX, Bullion Direct for some deals. If your an EBAYer, check out deals there (EBAY is a little better for 90% deals though). Check out local dealers. See what they will charge you. Also, there are some good deals here at RealCent from time to time. Most important, begin to learn what deals are good (jump on them), and those you need to walk away from. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 08/03/2009 : 11:25:26
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I cant tell you how to invest, but I wouldn't waste the money on the premiums with eagles... Want to pick a few, go ahead, but I see way too many people but just eagles and maples (like I did at 1st also) have too much invested in premiums...
I would DCA (dollar cost avg) a % of what your monthly allotment will be. If you have $400/month in income available, buy $100.00 per week.
I would only pick up some generic right now, but thats me. I do prefer more well known generic if possible. JM, Sunshine, etc.
As far as what the market is right now, I picked up 3 toz on Wed at 75c over spot, no tax, and on Friday 7 toz at 90c over spot no tax.... But I have bought quite a bit from this dealer so I may be getting better prices then a new customer...
If I were you, I would pick up 90% at 10.5 and less, 999 generic at $1 over spot and less. Stay away from 925... Govenment issued 999, I am not paying more then 1.50 over spot, so I haven't been buying, but it wouldn't hurt to pick up 1 here and there if you like them...
As you get going we can always throw in some 90% dollars etc.... |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 08/03/2009 : 12:47:03
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| All I can say is take your time and feel out the market and you then know a good deal when you see one and that will be the time to buy. |
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lilyrdape
Penny Pincher Member
USA
152 Posts |
Posted - 08/03/2009 : 14:00:54
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| It's All About The Roosevelt's Baby! lol |
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 08/03/2009 : 14:52:22
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Welcome to the wide and wild world of silver hoarding!
Some tips:
- Silver is silver... if it is .999 then that's what matters most, not the issuer of the round or bar. Some numismatic stuff matters, but you are not buying that for the silver, you're buying that for the collectability
- 90% silver coin is treated fairly. The price you can buy and sell is based on silver price, so in essence, it is the same as .999
- Premiums are inevitable, but you can find deals if you are diligent
- Buy what appeals to you. Chances are that it will appeal to someone else in the future. You'll have to own it, so you might as well like it.
- Beware of high shipping costs
- Beware of long delivery times
- Beware of unmarked bars from eBay
- Be sure that the bars have a makers mark from a current or known producer... a simple stamp of "999" does not certify purity, but if a makers mark accompanies a bar, then you can trace the purity to the producer. This is a legal way to verify that products are legitimate. Companies can get into big trouble if they abuse a makers mark and claim that something is what it really isn't
- There are as many well-informed precious metal investors as there are ignorant investors. Don't trust just anyone. Be sure you know who you are dealing with.
- Pay in cash or cash equivalent as much as possible
- non-pure silver can normally be refined for costs of 10-15% of the silver value plus a flat $25 to $40 assay fee.
- Silver is silver is silver is silver... if you just want to hoard, then buy the cheapest stuff out there. If you want to collect, then find the best premiums.
edit: multiple spelling errors |
goto the new and improved realcent: http://realcent.org |
Edited by - Market Harmony on 08/03/2009 19:20:44 |
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ScottyTX
Penny Hoarding Member
USA
508 Posts |
Posted - 08/03/2009 : 18:09:50
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Humm, try bulliondirect if you do not care about what your silver looks like when it comes in. I usually only sell on there but the buy prices usually can beat most any website on a small scale. Just build up your inventory with them and have it all shipped at once. You will save quite a bit doing it that away. Otherwise, hit me up from time to time. I always have silver on me, :)
Scott |
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Silver Surfer
Penny Pincher Member
USA
148 Posts |
Posted - 08/03/2009 : 23:01:48
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| 89gt-stanger. You should be able to find better per ounce prices with 10 ounce silver bars than with American Silver Eagles. APMEX will sometimes offer excellent deals but also be aware of their shipping rates which are a minimum of $9.95 per order. You may also want to consider Monarch Precious Metals for poured, loaf-style .999 silver bars. |
"Of all tyrannies, a tyranny exercised for the good of it's victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busy-bodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." - C.S. Lewis |
Edited by - Silver Surfer on 08/03/2009 23:12:35 |
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jtm3
Penny Pincher Member
USA
187 Posts |
Posted - 08/06/2009 : 11:41:28
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quote:
Originally posted by ScottyTX
Humm, try bulliondirect if you do not care about what your silver looks like when it comes in...
Scott
I prefer APMEX. You can get generic silver and the "high end stuff" pretty cheap. They also sell American Eagles, Canadian Maple Leafs, And Austrian Philharmonics reasonably priced.
Various circulation silver from various countries and cheap War Nicks.
EDIT:
Also Investment quality .999 silver shot "Sealed in clear tamper evident bags."
10 oz., 25 .oz, 1 Kilo, 50 oz., and 100 oz. bags. |
Copper Cent Hoarding Wiki
coppercenthoarding.wikia.com
+637 posts |
Edited by - jtm3 on 08/06/2009 11:45:34 |
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sunsetcliff
Penny Pincher Member
USA
101 Posts |
Posted - 08/07/2009 : 23:14:14
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Start off with 90%.
From there try a few eagles- and a few rounds.maybe a bar. Go no higher then 10 oz. Stick with name brands. 40% is ok too.
I broke up mine into a portion each week- learn all you can about the market. as it changes. |
It is great to be here ~ !
http://groups.yahoo.com/group/silverme/ |
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n/a
deleted
15 Posts |
Posted - 08/09/2009 : 13:24:25
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quote:
Originally posted by 89gt-stanger
Hey guys. So basically, I want to start investing in silver. I do not want to mess with .925, only .999 bars, rounds, eagles, maples etc. Where can I get the best prices on these? The cheapest I have found so far is UNC American Eagles for $18.50/ea. Can yall help me out?
Thanks!
I personally get most of my Silver through eBay. You can get some great silver deals there, I use BullionSupermarket.com You must be logged in to see this link. to scan eBay auctions and show the % premiums on each item. You can set the premium you are willing to pay and it will color each item red or green to show you good and poor value items.
With regards to bullion coins I am seeing that Philharmonics represent good value. Premiums seem to be slightly lower than other silver bullion coins.
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 08/09/2009 : 15:03:05
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| Diversity is the only free lunch. |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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novillero
Penny Sorter Member
USA
86 Posts |
Posted - 08/09/2009 : 17:37:12
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I was a big e-bayer, as I was selling stuff on e-bay and it made it worthwhile. But I am a cash guy, and don't like to use credit cards. So, lately, I'ev been buying things from forums like these. There are usually very fair buys, shipping is reasonable, and since it is a community, I find the people to be fair in their dealings with buyers - reputation is important here and on other forums.
that being said, for larger purchases, I've bought from Apmex. Right now, I've been buying junk silver. I've also bought bullion, and have a modest bit of numismatic stuff. But, the passion right now is 90% silver U.S. currency.
Buy what you like. You'll be happier, and you can always switch. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 08/10/2009 : 06:29:48
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Find a good local dealer. Tell him/her what your weekly/monthly budget is. A good dealer will help you out and work with you. Prices are generaly cheaper, and you build up a personal relationship with him/her. A good dealer will generally have a wide variety of all types of silver or gold for thet matter. As an added bonus, a lot of states require no paper work if you buy under a certain amount in cash....
Buy as much as you can afford and get the best for your buck. Marked .999 or 90% is bought and resold easily almost anywhere. 40% is on the fence. If buying 90%, buy the oldest coin type for the cheapest amount you can. At my dealer the "junk" silver is only seperated by denomination. So I pick the oldest coins first. These can then be resold for a premium instantly.
Same goes for the .999.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 08/10/2009 : 10:12:20
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| What a treasure trove of freely offered ideas. Imagine if such were avail 20 years ago. Noobs have so much valuable guidance that simply did not exist in the years past. What a great forum. |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 08/10/2009 : 17:45:45
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quote:
Originally posted by jonflyfish
What a treasure trove of freely offered ideas. Imagine if such were avail 20 years ago. Noobs have so much valuable guidance that simply did not exist in the years past. What a great forum.
You are absolutly correct. It is truly the information age.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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Never invested in silver, help me start!
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