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Message
Buying Silver?
Posted on 4/4/16 at 4:28 pm
Posted on 4/4/16 at 4:28 pm
I came into some extra money and I was thinking of purchasing some silver. Right now silver is at $14.97.
Should I wait to see if it gets lower before purchasing?
I know it is pure speculation what the markets will do, but I was wondering if there was anybody that follows the market and was an experienced silver/gold buyer that could give me some advise on when to buy.
Should I wait to see if it gets lower before purchasing?
I know it is pure speculation what the markets will do, but I was wondering if there was anybody that follows the market and was an experienced silver/gold buyer that could give me some advise on when to buy.
6
Posted on 4/4/16 at 5:51 pm to Tear It Up
Remember you will have to buy silver with a premium on top of that price. You will not be able to get it for the spot price. The price will also differ depending on how you pay for it. You can also reduce the price based on the amount you buy. I personally use APMEX. Have been very pleased. They ran a sale about a week ago for $.79 above spot so I picked up a good chunk. I would also recommend that you not only look at the buy price but also the sell price or the price they will buy it back from you for. The smaller the difference, the better the product. And just like anything else in this world, you pay a slightly higher premium for a more recognizable brand.
Posted on 4/4/16 at 6:30 pm to Tear It Up
I bought 60 Eagles about 6 months ago from apmex. Very happy with the ease of purchase, but will likely be disappointed if I ever want to unload them. 
The thing is, with the premium you pay buying coupled with the discount you're forced to sell at the spot needs to move a good bit to actually make any money. It's just so much easier to get some yield somewhere else IMO.
I bought to hold pretty much "forever" (unless something crazy happens of course, like it goes above $100/ounce) and plan to give them to my future kids because I hope they'll think they're cool. Haha. That and I had a $100 credit that was going to expire on ebay and didn't really have anything else in mind to buy.
I bought 3 tubes of 20, and was happy how they were packaged, etc.
The thing is, with the premium you pay buying coupled with the discount you're forced to sell at the spot needs to move a good bit to actually make any money. It's just so much easier to get some yield somewhere else IMO.
I bought to hold pretty much "forever" (unless something crazy happens of course, like it goes above $100/ounce) and plan to give them to my future kids because I hope they'll think they're cool. Haha. That and I had a $100 credit that was going to expire on ebay and didn't really have anything else in mind to buy.
I bought 3 tubes of 20, and was happy how they were packaged, etc.
Posted on 4/5/16 at 2:00 pm to Tear It Up
I love buying silver. I just go to my local coin shop in Lafayette and make periodic purchases. The intent is to leave it all to my daughter one day. I prefer Morgan Silver dollars and Silver Eagles and every now and then I'll pick up a 10 oz bar. Once my silver stash gets big I will trade some in for gold.
Posted on 4/5/16 at 5:03 pm to Tear It Up
quote:
purchasing some silver
Do you mean just buying some coins, or buying silver shares on the stock market?
I'm no expert, but I looked at the charts and it looks like both silver and gold are on a 5 year decline. For this reason, I wouldn't invest in either one right now (unless it's just coins for a collection). Also neither the silver or gold ETFs pay a dividend. I'm looking at SLV, one of the biggest silver ETFs:
SLV
5 Year Chart
This post was edited on 4/5/16 at 5:09 pm
Posted on 4/7/16 at 8:41 am to Tear It Up
I know many don't agree, but I buy junk silver coin lots on ebay when the price is right. I have accumulated a few pounds of 90% silver coins at less than spot in most cases.
Posted on 4/8/16 at 9:39 am to Tear It Up
If you are going to buy from anyone other than a dealer like APMEX, MONEX, Provident Metals (my favorite), etc., get a magnet for testing authenticity. It is not fool proof but many scam attempts with silver dollars are made from metals that magnets attract.
The only items I consider on Ebay or collectible silver coins issued by mints such as Perth, etc. Any coins in bulk such as eagles or any other government or private issue coins and rounds are nearly always cheaper on dealer sites than Ebay. Provident is nearly always competitive and offers free shipping if >100 bucks purchased. JMBullion similar. APMEX still charges for shipping, I think but are competitive on pricing most of the time.
I like the suggestion about buying silver options.
The only items I consider on Ebay or collectible silver coins issued by mints such as Perth, etc. Any coins in bulk such as eagles or any other government or private issue coins and rounds are nearly always cheaper on dealer sites than Ebay. Provident is nearly always competitive and offers free shipping if >100 bucks purchased. JMBullion similar. APMEX still charges for shipping, I think but are competitive on pricing most of the time.
I like the suggestion about buying silver options.
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