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JWRAY
Penny Collector Member
USA
378 Posts |
 Posted - 04/18/2010 : 22:16:00
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Hey guys, looking to invest in a bit of silver here, and have been looking at options but I wanted to make sure I didnt miss anything.
What is the cheapest over spot you guys can think of for getting silver? So far I have looked into:
1.) EBAY
2.) From the producers online
3.) Local Dealer
While prices fluctuate most of these sources appear to be around spot +$4. My local dealer will sell me 10oz bars at spot + $2, which is the cheapest I have found. He also has art bars at spot + 1.25 but they all suck, I prefer plain name brand or government issue stuff.
So have I missed something, or is there a source out there under these prices?
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MOVING SALE!!! Selling Copper Cents 1.4 shipped - in limited quantities PM me and we'll talk. |
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twocents
Penny Collector Member
398 Posts |
Posted - 04/18/2010 : 22:21:08
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| You can readily get silver bars under spot using Bing Cashback on Ebay. I just picked up 5 ten ounce bars for $2 under spot/ounce. Other than rare circumstances, I refuse to buy metals unless there is a discount to spot. |
Just my two cents! |
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JWRAY
Penny Collector Member
USA
378 Posts |
Posted - 04/18/2010 : 23:12:30
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Name brands? Or are they are art bars? My bing tends to give 2% off, with ebay bucks total 4% off.
Searching Ebay I can never find a 10oz bar for less then 200 and added shipping. Even with 8% bing and 2% ebay, it comes out over spot. |
MOVING SALE!!! Selling Copper Cents 1.4 shipped - in limited quantities PM me and we'll talk. |
Edited by - JWRAY on 04/18/2010 23:23:42 |
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cptindy
Penny Hoarding Member
572 Posts |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/19/2010 : 00:02:48
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You might be able to do a little better right here on this forum. Just post a wanted ad with what you are willing to pay over spot.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 04/19/2010 : 09:22:07
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Antique shops and co-ops(especially) most shop dealers and consignors will price an item current and then not follow the market changes. Recently started shooping them again with success. Missed a 20% storewide sale recently that would have been a real payoff. Know your prices before going and ask for discounts. Sometimes asking is key.
Recent finds 40% halfs $2.00 each, canadian silver at 75% of spot, U.S. silver at 85% spot. Foreign currency can pay big if you know what to look for.(carry the pocket notebook with all the tid bits of info-priceless)
Barter is also a good deal. Ran an ad in local paper for odd jobs "accepting U.S. 90% silver in payment for services" coin dealer called and I did job, labor for silver, win/win.
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 04/19/2010 : 09:44:02
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Building a great relationship with a local coin dealer is also a good idea.
At the Orlando Coin Show, I was able to get a one ounce round (art) of a train for my son's upcoming birthday (not his 25th this year) from my local coin guy and only paid approximately 50 - 60 cents over spot. Silver was around $18.48 or so that day and I paid $19.00 for the one ounce round. |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 04/19/2010 : 09:48:55
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I like getting my 90% bullion at the bank for FV.
The cheapest source for bullion is foreign Ag coinage. Ebay is usually your best bet, but on occasion you can find a dealer who isn't familiar, or doesn't want to be, with foreign coins and get them for under spot.
I picked up 2 Canadian PL sets for $35 yesterday at a local coin show. The dealer didn’t want to be bothered with them. I gladly took them off his hands for $15.77 an Oz., and passed on his 14X U.S. junk. I do mean junk, they were borderline slicks. Don't follow the herd and pay premiums... Be frugal and shop around. 
You'll get the argument that foreign coinage isn't the coin of the realm and blah blah blah. That it will always sell at a discount, blah blah blah (even if that were true, you’re buying it at a discount, so it all works out). But when the dollar collapses and Ag (and Au) are priced where they should be, and all the paper Ag & Au is looking to find physical, that will become a non issue (if it truly ever was...).
Don't be led by the typical myopic self centered American. There are 6 billion people on this planet. Only 300,000,000 of them are Americans. That is only 5% of the world population. The other 95% doesn't care about such trivial things. Seeing how we are in hock to the rest of the world, along with the fact that relocating to another country is becoming a very real possibility for a lot of people, it is something to keep in mind.
Just my 2 Canadian Cu cents...  |
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twocents
Penny Collector Member
398 Posts |
Posted - 04/19/2010 : 20:58:38
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| I don't buy art bars ... I am talking brand silver, JM, Engelhard and then lesser such as NWTM, Sunshine, Silvertowne, etc. You have to buy bulk. You will very rarely get a good price on a single bar, but if you are willing to buy 50-100 ounces at a time, there are deals to be had. I shop enough on Ebay to get coupons semi-regularly. I use 8% Bing, which is sometimes 10%, 1% Ebates, 2-5% Ebay VIP, and often I have a 10% Ebay coupon as well. That can be as much as 26% off of the Buy-It-Now price, which gets you well under spot. Without the 10% Ebay coupons, you should be able to get brand bars delivered to your doorstep for less than spot, which is a deal in of itself. For gold, I have always done well on Maples. If you watch Ebay regularly enough, there is always a seller that does not know about Bing and thus does not mark his/her item up accordingly. If you find something, you literally have seconds to minutes to act. They go very fast. I do not even log onto Ebay without first syncing in Bing and Ebates so that I am ready to go as soon as I find something. I just missed a 50 ounce JM bar shipped for $750 after discounts because my stupid rear decided to first ask HCBTT about shipping as I was going to flip it. It went Kaiser Soze on me ... poof, it was gone before I could blink. |
Just my two cents! |
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JWRAY
Penny Collector Member
USA
378 Posts |
Posted - 04/20/2010 : 21:33:37
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How do you get Ebay coupons? I have been an ebay member since 2002 and I cannot recall ever getting one.
Also, how do you get ebates and bing together? I can figure out how to do either one by itself, but not both at once. |
MOVING SALE!!! Selling Copper Cents 1.4 shipped - in limited quantities PM me and we'll talk. |
Edited by - JWRAY on 04/20/2010 21:34:45 |
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JWRAY
Penny Collector Member
USA
378 Posts |
Posted - 04/20/2010 : 21:53:29
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| Also what is Ebay VIP? Cant seem to find it anywhere, I just get the ebay seller of that name. |
MOVING SALE!!! Selling Copper Cents 1.4 shipped - in limited quantities PM me and we'll talk. |
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Wanderer
New Member
Canada
16 Posts |
Posted - 04/22/2010 : 17:59:01
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| Another idea for getting a better price for silver on eBay is using the distance feature to search for close sellers and see if they do local pickup. If you don't have to factor in that extra money for postage, you can maybe go a little higher than the competition, and still get a good deal. |
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sunsetcliff
Penny Pincher Member
USA
101 Posts |
Posted - 04/22/2010 : 18:25:00
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quote:
Originally posted by Bluegill
I like getting my 90% bullion at the bank for FV.
The cheapest source for bullion is foreign Ag coinage. Ebay is usually your best bet, but on occasion you can find a dealer who isn't familiar, or doesn't want to be, with foreign coins and get them for under spot.
I picked up 2 Canadian PL sets for $35 yesterday at a local coin show. The dealer didn’t want to be bothered with them. I gladly took them off his hands for $15.77 an Oz., and passed on his 14X U.S. junk. I do mean junk, they were borderline slicks. Don't follow the herd and pay premiums... Be frugal and shop around.
You'll get the argument that foreign coinage isn't the coin of the realm and blah blah blah. That it will always sell at a discount, blah blah blah (even if that were true, you’re buying it at a discount, so it all works out). But when the dollar collapses and Ag (and Au) are priced where they should be, and all the paper Ag & Au is looking to find physical, that will become a non issue (if it truly ever was...).
Don't be led by the typical myopic self centered American. There are 6 billion people on this planet. Only 300,000,000 of them are Americans. That is only 5% of the world population. The other 95% doesn't care about such trivial things. Seeing how we are in hock to the rest of the world, along with the fact that relocating to another country is becoming a very real possibility for a lot of people, it is something to keep in mind.
Just my 2 Canadian Cu cents...
I explored foriegn silver. I did not see big bargains like I thought I would. |
It is great to be here ~ !
http://groups.yahoo.com/group/silverme/ |
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Jangles
Penny Sorter Member
31 Posts |
Posted - 04/23/2010 : 11:34:17
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I buy from eBay, jsut hunt around the buy it now auctions and you can find good deal on anything. I use Bing (8%), Mr Rebates (3%), and I eBay bucks (2%). With this together I can always find deals well under spot.
If you sign up for Mr Rebates using this link (You must be logged in to see this link.) you can put me as a referral and I get a percentage of what you get back :)
You need to log into bing cash back and search for something that returns an add for eBay, I always use "Wii Cheap". You can check this site (You must be logged in to see this link.) for more and it lists the cash back % for each one. Click the ad link and it takes you to eBay. Log into eBay. Open another tab in the same browser, go log into Mr. Rebates, search for "eBay" and click their link which takes you to eBay. Past in the item ID in the eBay search bar, buy the item and pay w/ PayPal.
This always works for me and I get all three rebates (13% off). The eBay bucks rebate automatically works. I think you can only use the Bing rebate 40 times per eBay account and you can only get a max of $4000 back in Bing rebates for the life of your bing account. |
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JWRAY
Penny Collector Member
USA
378 Posts |
Posted - 04/23/2010 : 11:43:37
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Yeah I use bing, though from my searches on bullion, with bing and ebay bucks I am always right at spot on silver, and dang it I want it LOWER!
As to foreign silver, if you look it is easy to get that under spot. I buy several lots of silver foreign weekly under spot price, but they are never buy it nows, so no rebates besides ebay bucks.
Just yesterday I got some Bahama silver coins for around $15 an ounce. |
MOVING SALE!!! Selling Copper Cents 1.4 shipped - in limited quantities PM me and we'll talk. |
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twocents
Penny Collector Member
398 Posts |
Posted - 04/23/2010 : 17:19:06
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Here is how you use Bing with Ebates, though Ebates is now only 1% for bullion. You must be logged in to see this link.
VIP is invitation only by Ebay for beta testing. It awards 2-5% cashback on Ebay if using Paypal.
To get Ebay coupons, you have to sign up for email correspondence/advertising from Ebay. I have not gotten any other coupons from Ebay since joining VIP, though I do get coupons from VIP. |
Just my two cents! |
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Cheapest Source of Silver Bullion
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