buying silver

[undeRGRound]

You can also check the spot silver price, kitco or this tracks it pretty well:

http://www.google.com/finance?q=slv

Dude, that is a POS link to a POS ETF called SLV. Buy that and you will have
a piece of paper that is not even good Toilet Paper. ALSO, the price of SLV is
around $2 less than the spot price today, anyway! I'd ignore SLV, it SUCKS!
It's not even 100% backed by physical metals. Maybe as low as 3% backed,
but there is no way of knowing. If INGO members really want great Silver
info, go to SilverDoctors.com, join up and you can use me as a reference
Not necessary tho, me as a ref.

 

[XtremeVel]

apmex.com

as others said, buy bullion, not coins. coins have a collectable value that exceeds its value as actual material. maybe others do, but i dont go for collectibles.

I would agree that paying a premium for anything with numismatic value might not be wise, but not all coins have this. Like already mentioned, you have your 90% " junk" or "common date" coinage... The one that does still seem to always carry a premium even if it's common and/or " junk" are the much older Morgans and Peace dollars...

Simply ignoring the possibilty of the 90% being the best buy at times can be a mistake. Through the years, it has been the best option on that given day many times. Quite a few times I have gotten it right around "melt" price...

Back in 1979 when silver hit its peak, many dealers stopped counting number of coins. They simply weighed them and paid according... Thinking this could happen again someday, I really think I score big when I get some '64 Kennedy's in UNC condition at " junk" price... These have absolutely no wear, but because they made a crap ton of them, hold no collectors value either...

 

[Herstal]

Dude, that is a POS link to a POS ETF called SLV. Buy that and you will have
a piece of paper that is not even good Toilet Paper. ALSO, the price of SLV is
around $2 less than the spot price today, anyway! I'd ignore SLV, it SUCKS!
It's not even 100% backed by physical metals. Maybe as low as 3% backed,
but there is no way of knowing. If INGO members really want great Silver
info, go to SilverDoctors.com, join up and you can use me as a reference
Not necessary tho, me as a ref.

Ah that's not a reference to buy, it's a way an easier way to view the (approx) spot price over time. Kitco is closer to "spot" price, but those graphs are hard to read. I suggested NWTMint for purchasing.

If you're looking to do some day trading speculation on silver, ZSL (2x short) and AGQ (2x) are fun. I made a bit on ZSL when silver approached $50/oz sometime in 2011.

 

[undeRGRound]

Ah that's not a reference to buy, it's a way an easier way to view the (approx) spot price over time. Kitco is closer to "spot" price, but those graphs are hard to read. I suggested NWTMint for purchasing.

If you're looking to do some day trading speculation on silver, ZSL (2x short) and AGQ (2x) are fun. I made a bit on ZSL when silver approached $50/oz sometime in 2011.

Cool, Herstal! I suspected that you knew what it was, but wanted to alert others.
Short term markets ETF trading can be a good thing, but most stackers seem to
think the market is heavily manipulated. I do too. So that makes it dicey to speculate.
Still possible, but iffy on the "day trader" scheduling.

I checked SLV and the spot @ close, and it was $2 low, lagging the physical.
The COMEX (crimex) is what you want to avoid also, but it affects all the silver prices.

 

[FordBronco]

Check out SilverTown up in Winchester, IN (north of Richmond). I like to get old US silver coins (before 1964) as they are known quantities (and quality) of silver in easy to use divisions (if it should come to that).

Depends on how much you are looking for:

Modern Coins, World Coins, Silver Eagles, Gold Buffalos, Bullion | SilverTowne

... or if you want a bigger pile...

SilverTowne - $100 Face Value Silver

As a plus they are neat to look at and run your hands through too!

 

[AtlasDM]

Stay away from ETFs. Buy the physical silver and have it shipped to you, don't get involved with a program that you pay money to but only get a certificate because they claim to be holding your metal for 'security' reasons. Silver/gold is useless to you if you don't physically have it in your possession.

 

[rat-man]

I think a group buy could be a good idea, because of the price difference you usually pay buying online via credit card or bank wire. One bank wire transfer can really be minimal once you tally up multiple purchase price differences, but you have to purchase quite a bit, and it's often beyond what an individual can sometimes handle.

In addition to Apmex, I've had good (but a little slow) service from Gainesville Coins, and they usually have a good selection of 90% US silver coins. I recently got a $5 bank roll of 90% dimes from them, and last I checked they also had $10 rolls of quarters and halves.

Good luck.

Buy Silver Coins, Silver Bullion and Buy Gold | Gainesville Coins

 

[XtremeVel]

One more thing to remember is your dealer has to eat too. I have found many first time PM buyers just don't grasp the idea just how much Gold or Silver has to move before they even break even. A good, reputable dealer should have absolutely no issue with disclosing the differential between the current " sell " and " buy " prices... Regardless if a first time buyer or not, all should be aware and understand this and also how this differential is always subject to change. The trend I have always thought is what should be obvious... The crazier things get, the larger the differential opens.

Once you find a reputable, honest dealer, then establishing good communication with him can be of great benefit.

 

[nate1865]

I recommend Hans Tulving @ GOLD SILVER EAGLES US BULLION DEALERS AMERICAN EAGLE COINS BARS if you want to buy a lot. Hans' prices simply can't be beat and his service is second to none. You'll get your order the next day.

 

[LowerSW]

Its never to late to start buying silver . Since everyone seems to have covered very good local sources I wanted to also mention MY favorite way to buy silver.
First go to Coinflation.com there you can find the actual silver value of silver coins. I print that out when I go to garage sales or to auctions. Since I know the silver value of the coins I can bid accordingly. That also works in antique stores also.

 

[Cozy439]

Already been covered but I have always had good service with both APMEX and NWTM. APMEX is faster, NWTM has a 2-4 month wait but never have failed me and often have a smaller mark-up. After you get on eithers mailing list, you may get some sales on specific units. I buy rounds and bars.

 

[jedi]

Are silver rounds better than silver bars or is it just user prefernece.

 

[Justin Case]

Are silver rounds better than silver bars or is it just user prefernece.

Just a matter of the buyer's preference. Weight and percentage of pure silver determine the value. You can get many different sizes of bars or rounds. Also, some are very decorative while others are plain.

 

[427TriPowered]

i have been buying silver for years... generaly american silver eagles in the 20 coin mint tube...

i like them because its a known unit from a known source... all have been procured at local coin stores... just walk in and ask what they have... knowing the market price that day is helpful... reduces the dickering a bit...

 

[Classic]

I like the Stagecoach "barter bars". They are the 1oz. bars scored on the back so they can be easily broken into 1/4 oz. pieces.

 

[jedi]

Have you "broken" the stagecoach bars?
If so with what? How easy was it?

 

[spqr]

Look at this site: Gold Shark | Gold & Silver Dealer Reviews

It rates the best online gold/silver sites and allows you to compare price of coin you are looking for amongst all dealers reviewed.

American Eagles and Canadian Maple Leafs are actual currency and will always have a face value?

I have used Gainesville Coin and have been happy with them.

 

[undeRGRound]

Have you "broken" the stagecoach bars?
If so with what? How easy was it?

I have not done it. It was a hammer and chisel operation.
Looked easy enough.

 

[Indy60]

Look at this site: Gold Shark | Gold & Silver Dealer Reviews

It rates the best online gold/silver sites and allows you to compare price of coin you are looking for amongst all dealers reviewed.

American Eagles and Canadian Maple Leafs are actual currency and will always have a face value?

I have used Gainesville Coin and have been happy with them.

The intrinsic value of the coin,(the gold content/weight) will always be more than the face value. A gold or silver coin is always worth much more than stamped dollar amount face value.