Buying silver

sixtysevensg

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So i'm looking to buy some silver for "just in case". This is my first foray into precious metals and would like to know where y'all buy silver and the such. Not looking for collector coins, just bars and bullion stuff.
 
A couple pawn shops local to me sell it for a fixed premium over spot that is very reasonable. I typically buy from them. I know it isn’t fake coming from them and the one time I got fake bars from one of them, he made it right.

Every shop in this area got burned from that fake bar guy until they figured out he had bars that were double plated so a scratch test didn’t reveal the copper underneath.
 
How did you figure out your bar was fake?

Silver stacker forum. Those bars came in from China and showed up all over the country. The sellers had a field day for about a week until everyone figured them out. This was in 2011 at the peak of silver prices. Those bars changed testing protocols at a lot of dealers. Haven’t seen one since, except the handful one of my dealer buddies kept as a reminder of an expensive lesson learned.
 
How do the online places ship? I would worry about it getting stolen. I've considered buying from APMEX.
 
How do the online places ship? I would worry about it getting stolen. I've considered buying from APMEX.
APMEX ships USPS and typically package it well enough that a thief would need some alone time with your box to extract the contents. I've never had an issue.
 
I've bought from both APMEX and JM before, too, with good results.
 
I understand investing a portion of your portfolio into precious metals to hedge against inflation, but why particularly silver? Is it primarily because it’s more accessible than gold?
 
I understand investing a portion of your portfolio into precious metals to hedge against inflation, but why particularly silver? Is it primarily because it’s more accessible than gold?
I think that’s a big driver, but if you look at the relative value of silver to gold, that is how many ounces of silver would it take to buy an ounce of gold, it seems that silver is a better bet than gold.
 
I understand investing a portion of your portfolio into precious metals to hedge against inflation, but why particularly silver? Is it primarily because it’s more accessible than gold?
Yeah, I'd love more gold, but the outlay vs. ounces silver is a little easier to stomach.
 
I think that’s a big driver, but if you look at the relative value of silver to gold, that is how many ounces of silver would it take to buy an ounce of gold, it seems that silver is a better bet than gold.
Yeah, I'd love more gold, but the outlay vs. ounces silver is a little easier to stomach.

And I’m assuming you guys just buy the cheapest option there is for your desired weight? Like I see 1oz silver bars ranging from $15.37 to $31.77 and I can’t imagine why you’d pay double for the same amount of silver.
 
Well, I'd consider it being frugal. Some folk may consider it cheap, but i'm just trying to stretch my $. My old boss, who was Jewish, used to refer to me as "Hebrew", if that helps.
 
Well, I'd consider it being frugal. Some folk may consider it cheap, but i'm just trying to stretch my $. My old boss, who was Jewish, used to refer to me as "Hebrew", if that helps.

Cheap, frugal, whatever floats your boat. I’m just wondering why there are options that are double the price for the same amount of silver. If I was buying any, I’d be a “Hebrew” about it too.
 
And I’m assuming you guys just buy the cheapest option there is for your desired weight? Like I see 1oz silver bars ranging from $15.37 to $31.77 and I can’t imagine why you’d pay double for the same amount of silver.
You need to factor in the premium to buy and the discount to sell. Certain brands incorporate tamper-proof design or packaging which brings a premium. The purity of coins produced by the US mint is considered highly reliable while generic rounds are less trusted. I happen to like 100oz bars and the premium is generally low, but they are more difficult to sell so the discount can be greater.
 
For me it is that silver comes in 1 oz rounds that sell for a lot less than a gold 1 oz round.
That makes it easier to sell if I need to raise money fast.
Silver 1 oz round at about $15 each vs gold 1 oz round at about $1240 each.
 
And I’m assuming you guys just buy the cheapest option there is for your desired weight? Like I see 1oz silver bars ranging from $15.37 to $31.77 and I can’t imagine why you’d pay double for the same amount of silver.

Also, look at buying Eagles or Maples. They’re currency; so no sales tax. If you buy a plain ounce bar you’ll get charged tax

I also don’t buy online nor do I buy with credit cards

The sales are tracked and the US government has confiscated private stashes of gold and silver before. All it takes is a warrant to see the list of buyers in a similar situation. Buy local, use cash
 
Strictly thinking finical situation not biological...
Doubt we (U S gov as is) ever reverts to a gold/silver standard. https://smaulgld.com/silver-confiscation/ Also doubt we've seen the bottom for silver and gold for the near future. Usually as spot goes down premiums go up and that seems weak lately.
There have been so many manipulations in the finical/precious markets that a response to any economic reset/crash will most likely be something we've never seen before. Well we've seen it, just not so much at once and so escalated.
OP you say you're looking to buy silver "just in case." I'd go with pre '65 junk, but then who's to say $100 of bic lighters or alpo today won't be worth $10,000 of todays silver? We don't know, so no need to worry. Do what we think is best. It'll all work out, perhaps not to plan or our liking...
I do not endorse or have any history with Smaulgld, just linked for the history of silver confiscation.
 
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Not everyone on this site is from NC :cool:


And the point about the sales being tracked online to the USGOV stealing gold from citizens still stands. They took all the gold (some folks like dentists/medical use and coin collectors were exempt) at the threat of imprisonment then basically doubled the value once it was out of private hands by the Gold Reserve Act. I want nothing to do with online and credit sales of gold and silver
 
I smell a future investment opportunity...boats! We will shortly be running out of them due to all the gun, gold and silver sinking in tragic accidents!
 
I buy from JM Bullion.
Good folk. Reasonable prices. Free shipping on orders over $99.

Here in Columbia, SC, I use Gilbert Coin Exchange. Not actually IN Columbia, but Gilbert, SC just past Lexington.

Sent from my SM-T820 using Tapatalk
 
The comment about investing in 90% silver pre '64 "junk silver" coin is good advice too. Along with the silver eagles, maples, other new 1 oz rounds, get some silver dimes, quarters, halves, and dollars. A silver dollar such as a peace or morgan is 0.7734 oz of silver. They are roughly the same price as a silver eagle.

Sent from my SM-T820 using Tapatalk
 
What are silver "dollars" going for these days? I user to buy from 1 of those American Rifleman advertisers every year when the new ones came out. Sold them all for a tidy sum when it hit $50 a oz.
 
What are silver "dollars" going for these days? I user to buy from 1 of those American Rifleman advertisers every year when the new ones came out. Sold them all for a tidy sum when it hit $50 a oz.

right now, you can get a silver eagle for about $18.40. The silver eagle is the current US Mint silver dollar coin.

Peace Dollars (minted up until 1935) are $17.00

Morgan Dollars... the ones from the wild west days are $19.00 for a 1921 date (last year)
 
And wouldn't ya know it. As soon as we get a little breathing room and some extra jack in the bank, life comes along and kicks me in the balls with a water heater that shit the bed this morning. Guess the silver, and anything else that I wanted has to wait.
 
misery loves company...our water heater gave up on us last month.
i replaced one of the elements, but the other was too corroded to care.
the good news is...this is one (out of 3?) to break. only 2 to go.

back to silver...i've bought it the "dollar cost averaging" way.
when i have an extra $20, i'll buy another Eagle.
 
Not everyone on this site is from NC :cool:


And the point about the sales being tracked online to the USGOV stealing gold from citizens still stands. They took all the gold (some folks like dentists/medical use and coin collectors were exempt) at the threat of imprisonment then basically doubled the value once it was out of private hands by the Gold Reserve Act. I want nothing to do with online and credit sales of gold and silver

I agree to a point. First they would have to find it. And how many confiscations by the Feds would go terribly wrong these days? How many agents would Fed Gov be willing to bury before they stopped that program? Although if the bad guys want to kick off some festivities stealing peoples’ metals would be a good start. My guess is they’ll continue to use modern tactics and just manipulate the markets to achieve their goals.
 
I agree to a point. First they would have to find it. And how many confiscations by the Feds would go terribly wrong these days? How many agents would Fed Gov be willing to bury before they stopped that program? Although if the bad guys want to kick off some festivities stealing peoples’ metals would be a good start. My guess is they’ll continue to use modern tactics and just manipulate the markets to achieve their goals.

Same way they do it now with guns: entice people to tell on the people they know
 
I understand investing a portion of your portfolio into precious metals to hedge against inflation, but why particularly silver? Is it primarily because it’s more accessible than gold?
way way more volatile than gold. when gold spikes, silver quadruple spikes.

do you like roller coasters.... while tripping on acid? lol Trade silver, then.
 
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