Questions for silver investors/collectors

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  • jerrob

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    Mar 1, 2013
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    I have considered collecting some silver to have on hand for obvious reasons. Have been reading and watching YouTube vids to get an idea of how to start.
    I'm thinking 1oz bars and rounds and taking advantage of the several starter packs of 10oz at spot to get my feet wet.
    Now for the questions.
    Is there a better way to start?
    Is there a better time of the year to buy?
    Are there sales like everything else on black Friday?
    And my most important question, what should I avoid?
    Feel free to answer any questions I should've asked but didn't.
    Thanks
     

    d.kaufman

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    Mar 9, 2013
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    You won't see much for sales when it comes to precious metals. Prices fluctuate with the market.
    A great place to look is Provident metals. This is where I purchase almost all my silver from. They keep the current spot prices in the home screen as well so you know what the metals are currently trading at
     

    Jludo

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    I always used Provident metals, they cut you a cheaper price if you pay cash/check. l imagine black Friday has things like discounts on premiums but I doubt you find anywhere selling below spot for example. I'd start just getting a little of everything, some of the coins are beautiful but you pay a little more, you can't really go wrong if you buy from a reputable dealer in that most show you exactly how much you are paying over spot.

    Also I'm not sure I'd consider silver as an investment. There are more sure ways to get a return on your money and l've always found I'm not knowledgeable enough to price things like precious metals better than the market does. That said I've still collected some over the years I just don't expect to turn around and sell any for a quick buck.
     

    Mr Evilwrench

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    Most of my silver is in junk dimes. It's a known quantity of real money, vs the fiat money and debased coinage. I wouldn't have to make the heartbreaking decision to part with a beautiful collector coin at spot to buy some toilet paper. Not that I don't have some nice old dollars I inherited from my dad, but the dimes are all I've bought myself. Terminology: junk coins are the pre 1965 dimes, quarters, halves and dollars that don't have any particular value above spot because of rarity or whatever. There are also key dates on pennies, back when they were solid copper instead of thinly plated zinc.
     

    Vigilant

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    Start with junk silver, dimes are easy to find in your daily change almost. If you can get the 10oz. @spot deals, they are good too, as long as shipping doesn’t kill the deal.
     

    AtTheMurph

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    Forget silver and get real money - gold. It has a much higher density of value to weight than silver.

    i.e., if you are trying to preserve wealth through some kind of economic, societal, or political conflagration, gold is much easier to transport, hide, protect than some much larger quantity of silver.

    Gold has always been a monetary metal, silver not so much. Central banks do not buy silver and for good reasons. They buy and hold gold.
     

    Jludo

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    Forget silver and get real money - gold. It has a much higher density of value to weight than silver.

    i.e., if you are trying to preserve wealth through some kind of economic, societal, or political conflagration, gold is much easier to transport, hide, protect than some much larger quantity of silver.

    Gold has always been a monetary metal, silver not so much. Central banks do not buy silver and for good reasons. They buy and hold gold.

    Maybe if you're squirreling away tens of thousands. If your'e just starting with a few hundred bucks theres something off putting about having it all in a little 10 gram piece of gold.
    That said having a krugerrand or two in your collection is nice if you can afford it.
     

    Kurr

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    May 18, 2011
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    Silver is not an investment, it's a hedge against inflation. Same with gold.

    Some people do well trading on the Gold to Silver Ratio for increasing their stacks. I get mine from a coin forum site called Realcent.org. Lots of good info and some really great guys on there. but its person to person deals kinda like our classifieds.
     

    rhino

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    Silver is not an investment, it's a hedge against inflation. Same with gold.

    That's my opinion as well. It's a horrible investment vehicle, especially if you time your purchases badly.

    The only way to make money with silver is to actively buy (low) and sell (high) large quantities on the market. Buying it and holding onto it just ensures that you have something of value if our currency has a major inflation issue.
     

    hoosierdoc

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    Dear lord man, are you really that ignorant? It's called THE DEBT. The beast that is consuming our economy from within. And that's only the most blazingly obvious reason. Then there's all the ways that SHTF can happen.

    give me some examples of where having a pile of silver helps you when SHTF. How long will said S hit said F? Are you talking some sort of massive EMP where access to our digital funds is gone?

    do you think people are going to start trading in silver? Is there an example in modern history where when S hit a F in a country they reverted to precious metals as currency? How will you prove how much you have? Digital scale? EMP... how do you ensure purity? How do I know your bar isn’t just lined in silver and really just a rock?

    bullion trading commercials and advertisements just seem so hilarious to me "Now is a GREAT time to buy silver as prices are at historic lows". It seems like a multi-level marketing scam. What about all the people who invested in it prior to now when it wasn't at a "historic low"? "some experts predict silver could hit $200/oz!" "Industry usage of silver shows we only have a three month supply now, this could spike prices!" Or... they'll produce more of it :dunno:
     
    Last edited:

    Tactically Fat

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    I know that if the S hits the F, I won't be taking silver in trade for any of the goods/supplies that I may or may not have.

    Goods / supplies will be traded for work / goods / supplies. That's how it'll go down if the S hits the F. Guarantee it.

    Stockpiles of precious metals will be essentially worthless when the crap goes down - because the crap will be going down for everyone else.

    Buy silver if you want. Hoard / save it if you want. You'll almost always be able to resell it to someone - but it's not a good investment vehicle.
     

    Trigger Time

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    Buy boos. Hoard boos. It will be worth more than silver and gold if shtf. Guns and ammo too obviously but we all do that with those right? ;)
    Silver and gold are good if you buy low. Whenever silver drops below 15 an ounce, I buy some.
    If gold goes below 1350 an ounce its good to buy some.
    These numbers have changed over the years. Also in indiana you now do not have to pay sales tax when purchasing precious metals. So that's nice.
    In a total collapse food, water, security will be your number 1 priorities. Think of it as a survival situation in the woods or whatever. Security includes shelter, warmth, sanitation, etc.
    Plan for those basics. HAVE A PLAN and the knowledge to execute that plan and backups. Rehearse and have your family on board and trusted friends.

    If the dollar collapses, yeah precious metals will skyrocket. But the other basics will be needed too becauae the price of bread will be unaffordable.
     

    spencer rifle

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    Apr 15, 2011
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    Scrounging brass
    Silver has uses beyond a hedge against inflation and a store of value. It is the most electrically and thermally conductive element for constructing new items or repairing old during recovery. It's usefulness as a disinfecting agent may mean more than any of the above in a survival situation. Copper has similar properties, but it will take a lot more to store the same amount of value. Alcohol-based products have some of those properties, in addition to the addiction factor. But you'd be hard-pressed to use it in construction or repair of electronics, except maybe to drown you sorrows when you fail.
     
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