Help on buying silver

[ssg10]

Hello,

I am pretty new in silver. I have questions and sorry if it is very basic:

1. If I want to buy silver, is it better to buy coins or bar? (let's say I have $10,000 to convert to silver)
2. I found there are many silver coins. Which ones are recommended? Maple leaf, austrian ?
3. Anyone can recommend online dealers with best price and local dealer in Southern California?

Thanks!

[1970 silver art]

Welcome to GSUS, Ssg10. :)

You can buy gov't minted 1-oz silver bullion such as Silver American Eagles (SAE's) or Canadian Maple Leafs but you will pay a higher premium for them because they are gov't minted and are recognized everywhere. Generally speaking, you can buy 1-oz .999 generic silver bars and rounds for a lower premium than SAE's and Canadian Maple leafs. The best 1-oz .999 generic silver rounds that you can get are the 1-oz Engelhard Prospectors. Engelhard Prospectors may sell a higher premium than regular .999 generic silver but at a lower premium than gov't minted silver coins such as the American Eagle.

As for the 1-oz silver bullion coins such as Australian Koala, Australian Kookaburras, and Britannias, you will pay a much higher premium for those because these are seen as collector type coins.

As far as I know, junk silver (90% silver) will have the lowest premium over spot.

There is an online dealer called American Precious Metals Exchange (APMEX) and it is IMO the best online bullion dealer. The downside to APMEX is the shipping costs can be high especially on small purchases. There is a company called Tulving that will probably offer a lower premium on silver than APMEX but the minimum purchase requirement is steep. I think that you have to buy at least 500 oz's of silver in order to do business with Tulving.

[solid]

Hi Ssg10, welcome to the forum. Here's my thoughts on your questions..

1) If I had say 10k for an initial silver purchase, I would break it down like this...3K to 10 oz bars, 3K towards 90% old US silver coins, quarters, dimes, half-dollars. The remaining 4k I would use for silver eagles, maples, libertads, and generic 1oz rounds, whatever I can get the best deal on. The concensus is to have a good mix of everything.

2) Personally, I have some of a lot of different coins. Silver eagles are my favorite, then the austrian phili's. The problem is you pay a higher premium for these coins, so buy the ones you personally like. Also, some dealers have better prices for different coins, fact that in as well.

3) Don't know about S. Cal, maybe some posters down there can offer an option. I'd recommend going to several different dealers to chat them up before purchasing. It's good to have a local dealer you trust when buying PM's. Get to know several of them if you can.

Have fun with your purchases! I warn you it can get addicting. ;D

[hoarder]

Pre-1965 90% US silver coins can be had much cheaper than other forms of silver and there is no question of authenticity. Unless you're hung up on "shiny object syndrome" this is a way to get the most silver for the least green toilet paper.

You can put an ad in craigslist that you're paying 24 times face value for pre-1965 silver, that's $33.66 per ounce.

[bellevuebully]

Bear in mind, whatever you end up buying, if there are premiums on the front end, they are usually on the back end also. It really comes down to liquidity....how easy are they to sell in your area. Government minted coins, though more expensive, will fetch more on a sale and will be more widely recognized. I stick with Maples personally, but I would not be opposed to buying Eagles, Buffalo's or Phils. I even have a few Koala's.....they feed my 'shiny' fix.

[hoarder]

Bear in mind, whatever you end up buying, if there are premiums on the front end, they are usually on the back end also. When silver was at $5, I bought 100 ounce bars for $540, IOW a 40 cent premium.
At $35, silver had gone up 700%.

If the premium had gone up 700%, that would be a $2.80 premium.

So there is merit in spending your premiums on silver instead.

As far as liquidity is concerned, my 90% coins are not that hot. Around here I find that .999 generic rounds are the easiest to move.


But since we don't know which way premiums will go...or that it's easier to understand that silver has more potential than premiums. I say buy cheap 90% junk silver.

[Sparky]

Hi Ssg10, welcome to the forum. Here's my thoughts on your questions..

1) If I had say 10k for an initial silver purchase, I would break it down like this...3K to 10 oz bars, 3K towards 90% old US silver coins, quarters, dimes, half-dollars. The remaining 4k I would use for silver eagles, maples, libertads, and generic 1oz rounds, whatever I can get the best deal on. The concensus is to have a good mix of everything.
...


This seems pretty good solid except for the ambiguity on the final 4K, since generics are different than sovereign coins (Eagles, Maples, etc.), and it's an important distinction to point out to newbies. Of the 4K, I'd spend 3K on 1 oz rounds. Make sure they are marked with weight and purity.

[Antonio]

Guys, don`t buy anything over 10 oz bars (I got one 50oz J&M) and make sure you have at least one Kit Kat silver bar Crown mint or Tentex, 5oz and 10 oz. When you hold it in your hand, it`s the ultimate in Ag molestation.

[Buddha]

I've never had a problem with liquidity selling silver be they ugly generic rounds, eagles or maples, or 10oz bars (I won't buy anything more than 10oz in a single piece though). We are still in relatively "good times" however, get some junk silver if you are worried about having to use it to barter in the future. Find a local guy and pay cash, the goal is to leave as little of a paper trail as possible. Lastly buy boating insurance, PMs are good luck when going on fishing trips, but boats don't have breaks so be extra careful.

[madfranks]

Also remember that if you're new to silver, you're buying right now at the high. Silver hasn't been this expensive since the early 80's. Many of us (myself included) are expecting a strong pullback to the mid-20's before we see new highs at the end of the year. But many see this $35/oz silver as a stepping stone to $50. If you buy now and silver drops, you'll lose a good portion of your investment. If you buy and silver shoots to $50, you'll be a happy camper. So I say, dollar cost average your purchases. I'd do 3k upfront, then wait through spring to see what happens next. If silver drops to the mid 20's, I'd go all in, otherwise average your purchases throughout the year.

Don'y buy paper silver (SLV shares), buy physical, and make sure every silver round/bar you buy is marked with weight and purity (i.e. .999 fine silver 1 oz).

[StreetsOfGold]

Many of us (myself included) are expecting a strong pullback to the mid-20's before we see new highs at the end of the year. But many see this $35/oz silver as a stepping stone to $50. If you buy now and silver drops, you'll lose a good portion of your investment. If you buy and silver shoots to $50, you'll be a happy camper.

Don'y buy paper silver (SLV shares), buy physical, and make sure every silver round/bar you buy is marked with weight and purity (i.e. .999 fine silver 1 oz).


Some of us only WISH it pulls back to the 20's. Personally, I do not hold to this position (anytime soon that is), however, if I'm wrong, the truck will be backed up.

Englehard prospectors............ hummmmmm yes my favorite silver round. If you can get the ones with the eagle on the back, they are extra juicy

[bl96S5eu]

Re: Dealers
Another + for APMEX (http://www.apmex.com/). Go for the bank wire (http://www.apmex.com/FAQ/Default.aspx#payments), if using a credit card the fees will add a little too much premium to your purchase.
Depending if you're talking South LA or San Diego, maybe try California Numismatic Investments (http://www.golddealer.com/), only used once but the purchase went well.

Welcome to the forum and there is a lot of wisdom here...I learn something new often. Keep a close eye out for Ponce though ;)

[optionT]

I too was looking to invest in silver but on a mounthly bases and came across "Silver Saver". They offer an easy way to invest in silver and gold that is really affordable.

The best part is the premium over spot is as little as 3% to at most 7.5%.

They have alot more info on there site on how there service works and you can call them if you have any additional questions..they are very frendly.

https://silversaver.com/

And if you do decide to use there service please use share-code N2SCZ during signup


Hope this helps.





Hmmmmmm, SPAM,

[tvminko]

I too was looking to invest in silver but on a mounthly bases and came across "Silver Saver". They offer an easy way to invest in silver and gold that is really affordable.

The best part is the premium over spot is as little as 3% to at most 7.5%.

They have alot more info on there site on how there service works and you can call them if you have any additional questions..they are very frendly.

https://silversaver.com/

And if you do decide to use there service please use share-code N2SCZ during signup


Hope this helps.





Hmmmmmm, SPAM,


How is what I posted any different than promoting the major gold and silver investment firms out there . The only difference I can see is that I get a tiny bonus for telling people about this site.

And did you even bother to visit the site before marking this as spam

[ximmy]

I too was looking to invest in silver but on a mounthly bases and came across "Silver Saver". They offer an easy way to invest in silver and gold that is really affordable.

The best part is the premium over spot is as little as 3% to at most 7.5%.

They have alot more info on there site on how there service works and you can call them if you have any additional questions..they are very frendly.

https://silversaver.com/

And if you do decide to use there service please use share-code N2SCZ during signup


Hope this helps.





Hmmmmmm, SPAM,


How is what I posted any different than promoting the major gold and silver investment firms out there . The only difference I can see is that I get a tiny bonus for telling people about this site.

And did you even bother to visit the site before marking this as spam

[k-os]

I too was looking to invest in silver but on a mounthly bases and came across "Silver Saver". They offer an easy way to invest in silver and gold that is really affordable.

The best part is the premium over spot is as little as 3% to at most 7.5%.

They have alot more info on there site on how there service works and you can call them if you have any additional questions..they are very frendly.

https://silversaver.com/

And if you do decide to use there service please use share-code N2SCZ during signup


Hope this helps.





Hmmmmmm, SPAM,


How is what I posted any different than promoting the major gold and silver investment firms out there . The only difference I can see is that I get a tiny bonus for telling people about this site.

And did you even bother to visit the site before marking this as spam


He's marking you as a spammer, and it doesn't take much to figure that out. You have 4 posts here and they are all the same, spamming for the same website.

[tvminko]

its no different than answering four threads asking for help/information on investing and giving the same answer. I bet i wouldn't be marked as spam if i mentioned apmex or monex

[uncletonoose]

its no different than answering four threads asking for help/information on investing and giving the same answer. I bet i wouldn't be marked as spam if i mentioned apmex or monex


We don't need advice from a newby. Take in mind that many members of this forum have lost more silver in boating accidents than you could imagine.

[tvminko]

So your saying that no one here is interested in a different way of investing and closed to new ideas.

[1970 silver art]

its no different than answering four threads asking for help/information on investing and giving the same answer. I bet i wouldn't be marked as spam if i mentioned apmex or monex


We don't need advice from a newby. Take in mind that many members of this forum have lost more silver in boating accidents than you could imagine.


You have a point there. GSUSers tend to be very accident-prone people when it comes to real money. :D I seem to be the rare exception to that rule since I stay away from boats. :D The reason that I stay away from boats because it would break my heart into tiny pieces to lose my silver art bars in a boating accident. :D I cannot allow that to happen. ;D

[uncletonoose]

So your saying that no one here is interested in a different way of investing and closed to new ideas.


As Ponce say's "If You Don't Hold It, You Don't Own It", which means holding physical silver. everything else, like paper is a fraud!

[tvminko]

So your saying that no one here is interested in a different way of investing and closed to new ideas.


As Ponce say's "If You Don't Hold It, You Don't Own It", which means holding physical silver. everything else, like paper is a fraud!


If you bother to take a look at the site i mentioned you will see that you are actually investing in physical silver/gold the only difference is that you do not have to buy a full oz. of silver/gold all at once. Although you have to wate till you have 20 oz of silver or one oz of gold before you can request to have the physical silver delivered. until then it held in insured storage by them.

[1970 silver art]

So your saying that no one here is interested in a different way of investing and closed to new ideas.


Well tvminko, basically most GSUSers like to buy physical gold and physical silver without a paper trail. Of course there are exceptions to that rule and most GSUSers know what works for them and they will continue to buy physical in the method that they trust. Most GSUSers are gold and silver stackers and they are not "investors". Also, I seriously doubt that any GSUSers want to wait until they have 20oz's of silver until they can take delivery. They do not trust your "different" way of saving and they will continue to buy locally without a paper trail.

[tvminko]

Fare enough. The thing I took offence to was having my post(s) marked as spam, and possably turning people of the idea before even looking into it, when I was trying to help.

What you state is fare when it comes to buyers who have been at it for some time and see good results.

Whats wrong with a paper trail by the way? At least its proof you didn't steal it.

[Large Sarge]

I just looked over "silversaver"

a few questions

1. how old is the company?

2. is it insured by anyone?

3. do they get independent third party audits?


Goldmoney offers all of that, but I believe their minimum deposits are higher than silver saver

the big issues are the insurance, and independent audits (to protect the investors)

a lot of these pool accounts take their business model from the federal reserve (fractional reserve silver and gold)

[1970 silver art]

Fare enough. The thing I took offence to was having my post(s) marked as spam, and possably turning people of the idea before even looking into it, when I was trying to help.

What you state is fare when it comes to buyers who have been at it for some time and see good results.

Whats wrong with a paper trail by the way? At least its proof you didn't steal it.


I will use myself as an example............

I am different from a "normal" GSUSer. First of all, I am a silver art bar collector and for me personally, I do not have a problem with a paper trail. I prefer to keep track of my silver art bar purchases but that is just me. I buy silver art bars on ebay and I do not have any problem with any paper trail when I buy on ebay. Even though I buy silver art bars on ebay, I prefer to buy silver art bars locally from local coin dealers and at coin shows because I can get them for a lower premium as opposed to ebay. However, there are many other GSUSers that do not like paper trails and prefer for their purchases to be as private as possible. It just depends on the level of privacy that a particuler GSUSer wishes to maintain. The level of paranoia also plays a factor here.

[SLV^GLD]

Paper trails tell people with access to the trail how much you are holding. I consider that no one's business but my own, so I don't typically interface with anyone who creates a paper trail.

[Serpo]

Rewards Program



Introduce Others to SilverSaver and Receive up to 50% of the Premium Each Time They Save with Our Silver and Gold Rewards!

SilverSaver provides you with your own rewards link or Share-Code that you can give others when they sign-up to save. Once they do, a portion of the premium for their transactions is added to your account in silver or gold each time they save. The more people you introduce to SilverSaver, the more you'll receive! You will continue to receive Silver and Gold Rewards as long as you have made a purchase in the last month......

hahahaha

[SLV^GLD]

Another smoldering pile of shitty forum etiquette is a thing called double posting or cross posting. tvminko committed that sin right off the bat too. I'm having trouble believing it was all so innocent.

[osoab]

I too was looking to invest in silver but on a mounthly bases and came across "Silver Saver". They offer an easy way to invest in silver and gold that is really affordable.

The best part is the premium over spot is as little as 3% to at most 7.5%.

They have alot more info on there site on how there service works and you can call them if you have any additional questions..they are very frendly.

https://silversaver.com/

And if you do decide to use there service please use share-code N2SCZ during signup


Hope this helps.





Hmmmmmm, SPAM,


How is what I posted any different than promoting the major gold and silver investment firms out there . The only difference I can see is that I get a tiny bonus for telling people about this site.

And did you even bother to visit the site before marking this as spam


Spammer,

I went to the site.

Let's see, they tell me that depending on the T.o.D. I sell, I will get either today's or tomorrow's price. Ok, that's good, I guess. Why is it not realtime pricing? If you look at the price on the site they give 45.04. Sure, glad I didn't sell to your company today. That is about a 7% loss to current spot of 48.50. The gold base price is 3.14. Care to explain how that works? WTF happened to using spot or a London fix? I see they screw the little guys on pricing. Hey I can invest only 50 a month, but it is going to cost me 8% to do it. Screw that crap.

In conclusion.

Your site sucks. :P

[tvminko]

I just looked over "silversaver"

a few questions

1. how old is the company?

2. is it insured by anyone?

3. do they get independent third party audits?


Goldmoney offers all of that, but I believe their minimum deposits are higher than silver saver

the big issues are the insurance, and independent audits (to protect the investors)

a lot of these pool accounts take their business model from the federal reserve (fractional reserve silver and gold)




Valid questions that I will answer.

1: Here is a blurb about them https://silversaver.com/about/. The mother company is Mass Metals LLC. a limited liability company was started in 2008.
2: The depository (http://www.fsdepository.com/Vault/) is insured by Lloyds of London. here is a link to the certificate https://silversaver.com/insurance/
3: As for the audits I am unsure but I can find out if you really want to know

[tvminko]

I too was looking to invest in silver but on a mounthly bases and came across "Silver Saver". They offer an easy way to invest in silver and gold that is really affordable.

The best part is the premium over spot is as little as 3% to at most 7.5%.

They have alot more info on there site on how there service works and you can call them if you have any additional questions..they are very frendly.

https://silversaver.com/

And if you do decide to use there service please use share-code N2SCZ during signup


Hope this helps.





Hmmmmmm, SPAM,


How is what I posted any different than promoting the major gold and silver investment firms out there . The only difference I can see is that I get a tiny bonus for telling people about this site.

And did you even bother to visit the site before marking this as spam


Spammer,

I went to the site.

Let's see, they tell me that depending on the T.o.D. I sell, I will get either today's or tomorrow's price. Ok, that's good, I guess. Why is it not realtime pricing? If you look at the price on the site they give 45.04. Sure, glad I didn't sell to your company today. That is about a 7% loss to current spot of 48.50. The gold base price is 3.14. Care to explain how that works? WTF happened to using spot or a London fix? I see they screw the little guys on pricing. Hey I can invest only 50 a month, but it is going to cost me 8% to do it. Screw that crap.

In conclusion.

Your site sucks. :P


Well first and foremost they are setup to really be an investment firm/broker so they only sell silver/gold during market hours. As for the time of day deal that only applies to when you buy silver or gold because you are funding it from a checking account the bank processing times come into play. Its kind of an insurance thing for them they want the money to be in the account before they acquire to silver/gold on your behalf, if you place the purchase order before 8am you will buy it at that days price after 8 would be next days price. As for selling you can only sell back the silver you purchased through them and only if it is still held in storage by them.

[osoab]

I too was looking to invest in silver but on a mounthly bases and came across "Silver Saver". They offer an easy way to invest in silver and gold that is really affordable.

The best part is the premium over spot is as little as 3% to at most 7.5%.

They have alot more info on there site on how there service works and you can call them if you have any additional questions..they are very frendly.

https://silversaver.com/

And if you do decide to use there service please use share-code N2SCZ during signup


Hope this helps.





Hmmmmmm, SPAM,


How is what I posted any different than promoting the major gold and silver investment firms out there . The only difference I can see is that I get a tiny bonus for telling people about this site.

And did you even bother to visit the site before marking this as spam


Spammer,

I went to the site.

Let's see, they tell me that depending on the T.o.D. I sell, I will get either today's or tomorrow's price. Ok, that's good, I guess. Why is it not realtime pricing? If you look at the price on the site they give 45.04. Sure, glad I didn't sell to your company today. That is about a 7% loss to current spot of 48.50. The gold base price is 3.14. Care to explain how that works? WTF happened to using spot or a London fix? I see they screw the little guys on pricing. Hey I can invest only 50 a month, but it is going to cost me 8% to do it. Screw that crap.

In conclusion.

Your site sucks. :P


Well first and foremost they are setup to really be an investment firm/broker so they only sell silver/gold during market hours. As for the time of day deal that only applies to when you buy silver or gold because you are funding it from a checking account the bank processing times come into play. Its kind of an insurance thing for them they want the money to be in the account before they acquire to silver/gold on your behalf, if you place the purchase order before 8am you will buy it at that days price after 8 would be next days price. As for selling you can only sell back the silver you purchased through them and only if it is still held in storage by them.


How much of a tiny bonus have you earned for your time spamming so far on this site? Just curious.

[tvminko]

none so far i'm not really too concerned about the bonus as per one oz of silver i only get like 2-3 bucks. i'm just having fun discussing the matter

I forgot to mention that the gold base price is per grain not ounces

[tvminko]

as a last attempt at supporting this program I just discovered that David Morgan, author of the "Morgan Report" is as supporter of SilverSaver.

[Large Sarge]

in defense of the newbie

if the site is legit, and it has lower minimums, and offers the insurance/delivery, well it should be mentioned

This bull market is 10+ years old, and its going to get pretty pricey for "ma and pa kettle" to get on board...

I am not endorsing this site (At least not yet)

but so far he is answering the tough questions.....