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Message
re: Buying silver online?
Posted on 11/25/12 at 8:40 am to drewnbrla
Posted on 11/25/12 at 8:40 am to drewnbrla
So i am looking at prices of silver online.
I can buy 1oz silver bars for 37.50 each.
I can sell 1oz silver bars for 31.50 each.
Am i looking at something wrong or does silver really have to rise in price by $6 an oz before i break even on an investment.
I can buy 1oz silver bars for 37.50 each.
I can sell 1oz silver bars for 31.50 each.
Am i looking at something wrong or does silver really have to rise in price by $6 an oz before i break even on an investment.
2
Posted on 11/25/12 at 9:11 am to Jibbajabba
You will probably get a better deal buying and selling from your local coin shop.
Posted on 11/25/12 at 7:56 pm to Jibbajabba
you are not counting all the "profits" aka value you recieve by holding the loot ...that is part of what you are paying for in the difference in buy/sell
you shouldn't buy bullion with the intention of selling it unless you need the money or your world outlook changes IMHO ...it's a store of wealth
you shouldn't buy bullion with the intention of selling it unless you need the money or your world outlook changes IMHO ...it's a store of wealth
This post was edited on 11/25/12 at 7:58 pm
Posted on 11/25/12 at 8:59 pm to Zilla
quote:
you shouldn't buy bullion with the intention of selling it unless you need the money or your world outlook changes IMHO ...it's a store of wealth
This.
If you want to buy and sell, get an etrade account. You'll lose your arse if you plan on buying and then quickly selling in the metals market (unless your a broker/dealer) due to bid/ask gaps and additional premiums charged on purchases. Metals are a storage of wealth in order to secure future buying power and to hedge against declining economic conditions both nationally and on the world stage. With the inevitable rise in inflation coming down the pipe, now is the time to get silver while its still reasonably priced.
Posted on 11/26/12 at 10:31 am to drewnbrla
quote:
Metals are a storage of wealth in order to secure future buying power and to hedge against declining economic conditions both nationally and on the world stage. With the inevitable rise in inflation coming down the pipe, now is the time to get silver while its still reasonably priced.
What is your cut off price before you consider silver to be unreasonably priced? Mine is at about $55-60 an ounce.
Posted on 11/26/12 at 5:18 pm to goodgrin
quote:
What is your cut off price before you consider silver to be unreasonably priced? Mine is at about $55-60 an ounce.
It depends on your income and your tolerance level for price increases. But for me, my purchases won't stop as the market price increases but rather the amounts I'll purchase will scale back to whatever I can purchase with my budgeted spending allowance.
But to answer your question, $80-100. Even if it hits the high end of that range, I'll still acquire silver and fractional gold until I reach my monthly allowance.
This post was edited on 11/26/12 at 5:20 pm
Posted on 11/27/12 at 8:53 am to goodgrin
quote:
What is your cut off price before you consider silver to be unreasonably priced? Mine is at about $55-60 an ounce.
it also greatly depends on what's going on in the world... 100/oz may be cheap if we implode, etc
Posted on 11/27/12 at 9:22 am to Zilla
To anyone who has physical silver, how do you store it? Locked box? Secured storage (Citadel)? Carry it around?
I have recently started purchasing a little each month, and as of now I have it in a safe in the house. I do not feel to strongly about it, but I also do not have that much, around 10 oz. As I start to accumulate more, I would like to find another option for storing it.
I have recently started purchasing a little each month, and as of now I have it in a safe in the house. I do not feel to strongly about it, but I also do not have that much, around 10 oz. As I start to accumulate more, I would like to find another option for storing it.
Posted on 11/27/12 at 10:00 am to OnTheBrink
quote:
To anyone who has physical silver, how do you store it? Locked box? Secured storage (Citadel)? Carry it around?
I keep my silver in a lock box that I hide in my Attic where only I know where it's hidden.
Posted on 11/27/12 at 1:56 pm to OnTheBrink
quote:
OnTheBrink
quote:
To anyone who has physical silver, how do you store it? Locked box? Secured storage (Citadel)? Carry it around?
Fire proof safe deep in my closet under tons of shoes, blankets, old clothes. I have around 50 oz and just a small safe is good for now.
Posted on 11/27/12 at 2:36 pm to ThatsAFactJack
quote:
Fire proof safe deep in my closet under tons of shoes, blankets, old clothes. I have around 50 oz and just a small safe is good for now.
What kind if safe do you have and how many hours in a fire can it take? Most of the reasonably priced safes I've looked at are around 1-2 hours. I'm looking into buying an actual safe in the near future. I currently have my silver (roughly around 50 ounces as well) in a hand gun safe.
This post was edited on 11/27/12 at 2:37 pm
Posted on 11/27/12 at 3:20 pm to drewnbrla
quote:
drewnbrla
quote:
What kind if safe do you have and how many hours in a fire can it take? Most of the reasonably priced safes I've looked at are around 1-2 hours. I'm looking into buying an actual safe in the near future. I currently have my silver (roughly around 50 ounces as well) in a hand gun safe.
Similar size of a handgun safe. Rated for 2 hours. Got it at home depot, forget the brand (think it starts with an M) Others I know of have put their silver/gold in a small safe inside of a gun safe for even more protection.
Posted on 11/27/12 at 3:29 pm to ThatsAFactJack
why fire proof safe?
Silver melts it's still silver
Yeh I know some are collectable and who wants a chunk of ugly melted silver.
Silver melts it's still silver
Yeh I know some are collectable and who wants a chunk of ugly melted silver.
Posted on 11/27/12 at 3:50 pm to ThatsAFactJack
So when SHTF, better to have 1 oz coins or rounds or bars or???
Posted on 11/27/12 at 3:57 pm to geauxnc0308
quote:
geauxnc0308
quote:
So when SHTF, better to have 1 oz coins or rounds or bars or???
No one knows for sure. My personal preference is 1oz rounds or American Silver Eagles and the old "junk" 90% silver coins.
Posted on 11/27/12 at 3:58 pm to geauxnc0308
I was going to ask a similar question. What do you guys buy/collect? I have mostly 1 oz. bars, but have recently added two 1 oz. coins.
Posted on 11/27/12 at 4:02 pm to OnTheBrink
Seems like the least premium would be on the straight up bars. And if its truely a hedge, then does what type of coin really matter? I would think straight up bars would be best. Guess I need to do some more research.
Posted on 11/27/12 at 5:07 pm to Crawdaddy
quote:
why fire proof safe? Silver melts it's still silver Yeh I know some are collectable and who wants a chunk of ugly melted silver.
True, melted silver is still silver but not all that is valuable is made of gold or silver. I have other valuable items and things that were passed down locked up as well as certain documents, which being made of paper, burn and are worthless afterwards.
Posted on 11/27/12 at 5:25 pm to OnTheBrink
quote:
I was going to ask a similar question. What do you guys buy/collect? I have mostly 1 oz. bars, but have recently added two 1 oz. coins.
I usually purchase 1 ounce silver rounds (mostly Silver American Eagles), 1 ounce bars (I stay away from the "sexy" silver producers due to additional premiums for the name. Silver is silver, I don't care who poured it) and Morgan silver dollars. Morgan's (depending on quality, but again, silver is silver) are typically great bangs for your buck since they are 90% silver. If you buy Morgan's and don't care about quality/grade, make sure you check the price of the individual Morgan and then multiply the spot price at that time by .7142 (1 morgan = 5/7 ounces) and If the morgan price is equal to or Less than the actual silver value, buy as many as you can afford. If its more, then you need to determine if the difference in the calculated value is proportionate to that of the premium being charged on 1 pure ounce.
This post was edited on 11/28/12 at 7:39 pm
Posted on 11/29/12 at 12:03 pm to OnTheBrink
quote:
To anyone who has physical silver, how do you store it? Locked box? Secured storage (Citadel)? Carry it around?
Another important aspect of owning silver is not answering those questions, even on the internet
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