Buying silver, where to start

Discussion in 'Financial Cents' started by rush81, Feb 3, 2010.


  1. AD1

    AD1 Monkey+++

    KF These are the spot prices i am seeing

    image.
     
  2. Kingfish

    Kingfish Self Reliant

    It is actually higher at 18 an ounce to buy right now. Said 14.80 last night on the television. Roslen capital commercial. seems to be going up.
     
    AD1 likes this.
  3. oil pan 4

    oil pan 4 Monkey+

    I get silver from 2 sources.
    Small buys go on evilbay and there is a seller with their own brand called "silvertowne".
    For bigger buys go through APMEX in okc, APMEX dot com, best way to transfer payment with them is a certified bank check, with personal check they will hold shipment for up to 2 weeks. APMEX also sells on evilbay so you can use credit card, paypal or what ever you like.
    I traded some silvertowne silver to some afghan jewelers this year and didn't get anything cut off so their stuff is legit.
    I prefer bullion bars/blocks, some people like coins more. The coins usually demand a higher cost per ounce of silver.
    Check prices on kitco but don't buy anything from there.
    You can take silver bars through the air port, TSA says it pretty common, which was a surprise when they didn't hassle me.
     
    Gator 45/70 likes this.
  4. Amatore1

    Amatore1 Monkey

    I just started buying one ounce silver bars and rounds about two months ago. Just a little bit at a time; but you have to start somewhere.
     
  5. oil pan 4

    oil pan 4 Monkey+

    Now might be the time to hold off buying for a little while until this brexit thing settles down.
    If I were back home I would be thinking about selling some silver.
     
    Gator 45/70 and Ganado like this.
  6. natshare

    natshare Monkey++

    No doubt! Was thinking about buying a 5-oz. silver bar on ebay week before last, when the price was $91 and change. Saw the same bar a couple days ago, was going for $111 and change!! Damn....opportunities lost! LOL

    Silver sellers on ebay are losing their minds right now. While big sellers were pricing it for ~$22 to $24 an ounce, smaller sellers were asking anywhere from $25 to $30 an ounce! Um....how about NO?? There were, luckily, some sellers still pricing appropriately, and I see the silver value actually dropped a bit today, so hopefully it's back to normal, soon.

    However, for anyone that's been holding onto silver, and wants to make a quick buck while it's hot, I'd say the next week will probably yield a nice profit. Especially if you purchased at <$17/ounce, as you could price it at $20-$22/ounce, and it would sell quickly, IMHO.
     
  7. Kingfish

    Kingfish Self Reliant

    Im sitting on mine until I see 40 bucks an ounce or more. Otherwise it is for trade.
     
    Gator 45/70 likes this.
  8. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    You'll notice that what you seem to think is an outrageous price .. is still being bought. It's been years since the spot price and what buyers are willing to pay were reasonable.

    I use to be able to snipe a few ounces just below or just above spot including shipping. I don't think I've won an auction in well over a year now.
     
    Idahoser, natshare and Gator 45/70 like this.
  9. oil pan 4

    oil pan 4 Monkey+

    Last time I bought some it was under $18 per ounce to get it to my door.
    I bought most of it at around $12 an ounce.
    I would love to do a massive sell off right now but I am out of town for a while longer, by the time I get back prices will likely be back to normal.
     
    natshare likes this.
  10. natshare

    natshare Monkey++

    I watch (and search, on ebay) for the words "sale" and "special". There's typically a few bigger sellers/dealers who will sell for <$1/ounce over spot price, and offer free shipping. I just received a 5-ounce silver bar that I purchased, around 2 weeks ago, for $95 and change. (y)
     
  11. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I'm not a bar fan and go for 90% or 1 OZT from a national mint like ASE, Maple Leafs, Kangaroos or Philharmonics. But that's my preference.
     
  12. oil pan 4

    oil pan 4 Monkey+

    If the price crashes to say $12 an ounce or less expect fees to be around $5 an ounce.
     
  13. Merks

    Merks Neophyte Monkey

    Another dilemma with silver is should you buy take away bullion or should you buy it in Safe Storage overseas. If you think that you could need to leave the country in a rush, silver is quite a chore to carry! Having your silver in Canada, Dubai, Singapore or Australia can give you a live line once you get there. There are a number of firms who will help you do this at a price.
     
  14. oil pan 4

    oil pan 4 Monkey+

    Buying it and not being able to get to it sounds like a bad idea.
    Unless you have been there, know you like it , established something, like own property, speak the language, have dual citizenship, have family there, ect.
     
    VisuTrac likes this.
  15. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Easy portability? BitCoin.
    For the faint of heart? Not a chance.
    But I'm with OP4, having someone else hold it where you can't get to it readily ... do you even own it?
     
  16. Nyrikh

    Nyrikh Neophyte Monkey

    My recommendation is to start out with Junk Silver. It is available at a low entry point, Easily used for barter when the SHTF, and it is readily recognizable.
     
  17. Idahoser

    Idahoser Monkey+++ Founding Member

    I've been lickin my chops over some Sovereigns at Provident's website for a year or more, the price is getting to be too hard to resist.
    I agree silver's on sale compared to gold but I have a bunch of that already that I got for a lot better price than you get nowadays, so I can play a little.
    [note- this post is a work of fiction, i do not own any precious metals or guns]
     
  18. oil pan 4

    oil pan 4 Monkey+

    Price of silver is going down.
    If I had any money I would be getting ready to buy some.
     
  19. Mac Bolan

    Mac Bolan Monkey

    PM's are a tough call. In a SHTF scenario markets will pop up all over the place just as they did in Argentina according to Ferfal. The problem is, street dealers will determine the value if no legitimate dealers are in business anymore. It will be supply and demand. Consequently, the value at that time will be much lower than what you will pay now.

    The safest silver to buy would be American Silver Eagles, although they cost a little more. The reason is that they are produced by the government as opposed to a private mint which produces bars and rounds.
    Street dealers will likely have no way to assay the silver content in your offerings so may not take much of a chance if you are offering rounds or bars, as they can be made by anyone. Even Alibaba has phony Silver and Gold coins for sale for pennies on the dollar.

    Ferfal suggested trying to obtain gold wedding bands because they are stamped with gold content in carats.
    They coinage I would avoid if I feared an end of the world scenario is 90% Silver coins since street dealers will probably offer you face value.
     
  20. Imasham

    Imasham Monkey

    Just curious about what people think in regards to a SHTF scenario...is it wise to have precious metals? I guess what I'm asking is what do people here think of the adage "you can't eat gold"? While I do have some silver I am second guessing my decision.
     
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