Buying Silver

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  • turnerdye1

    Master
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    63   0   0
    Dec 26, 2010
    2,101
    63
    North Central IN
    There used to be a site supporter on here that dealt with coins and silver... I cant remember their name. I dont even know if they are still in business. I'm looking to buy some silver dollars while the price is down. Does anybody remember the name of that particular dealer or of any good dealer in the Indianapolis area?
     

    pudly

    Grandmaster
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    35   0   0
    Nov 12, 2008
    13,329
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    Undisclosed
    Lost Dutchman on the east side of Indy. I had a good experience with two transactions with them a couple of years ago, but haven't gone by recently.
     

    ScouT6a

    Master
    Rating - 92.9%
    13   1   0
    Mar 11, 2013
    1,732
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    I have a good friend that is a stock broker, investment counselor, insurance salesman. We have had several discussions on precious metals. We don't believe in them. Please explain to me why you would want to add gold or silver to your portfolio.
     

    snorko

    Grandmaster
    Site Supporter
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    364   0   0
    Apr 3, 2008
    8,420
    113
    Evansville, IN
    I have a good friend that is a stock broker, investment counselor, insurance salesman. We have had several discussions on precious metals. We don't believe in them. Please explain to me why you would want to add gold or silver to your portfolio.


    I assure you, they exist.

    More to the point, isn't your friend's job predicated on selling lots of non-PM investments?
     

    Lee11b

    Master
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    16   0   0
    Apr 22, 2014
    2,610
    113
    North Webster
    Gold and silver will always have value. Look at your world history, the world has always persued precious metals. Their value rises and falls, but they are always worth something. Ok, now to answer the original question. I've dealt with Monarch Precious Metals, their price over spot is low. Also, check the coupon websites, they sometimes have free shipping. Monarch is based in Oregon
     

    Sailor

    Master
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    19   0   0
    May 5, 2008
    3,716
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    Fort Wayne
    I sell insurance/investments. PM's are the ultimate insurance, I would think your friend would understand that.

    Not to mention they may come in handy we are in the survival disaster prep forum. If I need to rent a charter plane right ****ing now, reaching in my pocket and paying for it in Apple stock is not going to work.

    Of course if you believe .govs narrative and the status quo then I can see why you would not think they are needed.
     

    jd4320t

    Grandmaster
    Rating - 100%
    23   0   0
    Oct 20, 2009
    22,892
    83
    South Putnam County
    Lost Dutchman was the name. I tried to buy from them a few times but they didn't seem to have what I wanted. I did pick up one ounce of silver there for a last minute Christmas gift.

    It seems hard to find a place around Indy that stocks silver bullion. If it's out there I haven't found it in eight years. I buy from Silver Towne in Winchester. I either stop by the store or buy online and get free shipping.
     

    indygunguy

    Expert
    Emeritus
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    110   0   0
    Dec 12, 2010
    1,338
    48
    NE Side of Indy
    I traded with Lost Dutchman once, and I was treaded fairly.

    My preference when buying/selling PM's is to work with Mark at Montana Rarities. It's a one-man company and he answers the phone himself when you call. He's a good guy and transactions are always easy and smooth. Paying the shipping from him will be less than the sales tax you pay from a local shop.

    Contact info:
    Montana Rarities Gold Silver Precious Metals Coins
    406-396-9468
     

    BigMatt

    Master
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    8   0   0
    Sep 22, 2009
    1,852
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    Lost Dutchman had generic silver rounds/bars and American Silver Eagles in stock yesterday afternoon at 4:00.
     

    Sailor

    Master
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    19   0   0
    May 5, 2008
    3,716
    48
    Fort Wayne
    As USD, and our economic outlook continues to strengthen, gold and silver will continue a gradual decline. It is testing its lower support and will probably rally up to the resistance area around 18-19.00 oz.
     

    Slawburger

    Master
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    2   0   0
    Mar 26, 2012
    3,041
    48
    Almost Southern IN
    Reputable online sources:

    apmex.com
    jmbullion.com
    providentmetals.com (as noted above)

    Those three are all well-known and reputable online sources with decent prices. Sometimes one of them will have a sale (less premium over spot) on certain items. JM Bullion has free shipping and sometimes the others will offer it.
     

    CountryBoy19

    Grandmaster
    Rating - 91.7%
    11   1   0
    Nov 10, 2008
    8,412
    63
    Bedford, IN
    I have a good friend that is a stock broker, investment counselor, insurance salesman. We have had several discussions on precious metals. We don't believe in them. Please explain to me why you would want to add gold or silver to your portfolio.
    Not everybody's strategy is the same as yours. Not everybody has the same circumstances, there are numerous useful reasons to purchase/own precious metals... That being said, I think I know where you're going with this and I agree. For general disaster/collapse/barter type of preparedness precious metals are almost useless. Look at lessons learned and stories of previous real-world SHTF and precious metals didn't have the value people thought they would. Why? You can't eat them, you can't protect yourself with them, you can't burn them to keep warm etc, so nobody wants them unless it's at a VERY high conversion (IE, 1 loaf of bread for 2 oz of gold). I read one story from the Balkans of a jeweler trading jars full of precious metals (gold & silver) for a single meal for his family... For anybody that is looking into PMs for preps, you need to think long and hard about it first. Study past experiences and move forward cautiously. If your other bases are not well-covered you may be compromising your family by putting money into PMs when it should be going into real preps.

    For financial SHTF, they can preserver wealth through market collapses, currency changes etc. So they definitely have their place, it's just very limited.
     

    Wolffman

    Plinker
    Rating - 0%
    0   0   0
    Jul 19, 2012
    124
    18
    I've been buying from Provident Metals also. Silver was down below $16 this morning, and jumped up at about 2:00PM, presumably from that one-word change in the statement of how soon the fed will change the interest rate. In any case, I buy in 10 oz lots. I can't buy on your scale, Sailor. But, for my wife and I, we can't lose. We do jewelry. If we don't need it for shtf, then we can make jewelry with it.
     

    The Bubba Effect

    Grandmaster
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    19   0   0
    May 13, 2010
    6,221
    113
    High Rockies
    Not to mention they may come in handy we are in the survival disaster prep forum. If I need to rent a charter plane right ****ing now, reaching in my pocket and paying for it in Apple stock is not going to work.

    This is the real upside to physical pm's. They are not nearly as liquid as stocks held in a brokerage account, but if things really turn to poop and you really need your wife and kids to get on the last plane out of the conflict zone, a few pounds of silver and gold will be the best ticket in town.

    Or, if the world does not end in fire, then pm's are still a hedge against inflation.
     
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