11 votes

Investing in Silver as a college student, where to start?

Hello my fellow DPers, It has been a few months since i have made a post, and since i have recently been finally deciding i need to invest some of my money into silver, i figured i would ask the DP in the mean time while i do some google research. I am currently a college student, so dont really have a lot of extra spending money, but i decided i want to try to at least invest a couple hundred a year into silver. were is a good place to do research, start buying, and should i just stick to silver rounds? is there anything i should watch out for? thanks for any info you guys have!

ps- thanks Dr. Paul, mostly because of your enlightenment am i majoring in Economics at the current university i am attending.

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Go with junk

Try to go in with some friends on a bag-o-junk. Divvy it up by weight (careful -- don't get any sticky-icky on the coins), and stash your share somewhere that isn't a bank.

A note

To add to Vanmind's comment, you don't have to weigh it to divvy it up evenly. If you're dealing with dimes, quarters, and halves, face value equals weight. $10 is 7.23 oz. of silver, period. So you can just split it up by face value. It doesn't work with the dollar coins. They really dropped the ball and made those 7.73 oz. per $10.

Please come join my forum if you're not a trendy and agree with my points of view.

Put your efforts

Put your efforts into defeating Central banking and Global Judaism.

Luke 3:38
Isaiah 43:3-5

...

Invest in a testing kit then buy in cash and buy bullion. Some prefer US Silver Eagles because they are legal tender as well as being bullion.

Support the Daily Paul by using this link when you visit Amazon.com... http://www.amazon.com/?_encoding=UTF8&tag=bullnotbull-20&lin...

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Buying silver

for the first time can be fun, I bought my first silver off Ebay.

The next time I am ready to buy silver I will place an ad in the local shopper. People have lots of old silver coins in their junk drawers, they would clean them out if they find they are worth something. Offer a little under melt value, if you get them your in the black.

Gold standard: because man can not be trusted to control his greed

You're in college...

..so you don't have that much money right?

1.) Find out the tax situation in your state, if taxed you should find out what neighboring state or other state doesn't have the sales tax.

2.) Find a reputable coin dealer or several.

3.) buy a silver eagle and keep it in your pocket for a long time ($35-$40 FRN) more if you can't make it to a non-salestax state.

4.) buy a couple of junk-silver (pre-1965) coins and do the same. Carry them around instead of the eagle.

5.) repeat for various types maples, 1oz bars, etc... but don't carry a 5oz bar for gods sake.

6.) When/If you have money then you can contemplate the next steps: where to hide/keep, what to purchase, how to get it. All the details will work themselves out because you would have carried those coins in your pocket long enough to passively think it over.

-quiet engineer

I use the banking system against itself : )

I currently opened a credit card offer online. Best deal ever. If you spend $1000 w/in 90 days, they'll give you a $400 statement credit. So if you or your family have $1000 of bills over a 3 month period then you can get a $400 statement credit.

For me it was very easy to spend spend $1000 on stuff I already buy (groceries, utilities, internet, cell phone, gym membership, eating out, etc...)

I'm using that $400 towards a nice purchase in silver from my local coin shop : )

(Symbolically to me, that's $400 printed out of thin air! One roll of silver American Eagles please : )

Several More Websites

http://ceo.ca/frank-giustra-long-form-interview/ - Billionaires point of view on commodities
http://sprottinc.com/ - Eric Sprott - Canadian precious metals billionaire
http://kingworldnews.com/kingworldnews/King_World_News.html

Buying Silver Bars

If you buy 10 oz or larger silver bars, buy those made by a reputable large mint:
APMEX
Engelhard
Northwest Territorial Mint
A-Mark
Johnson Matthey

There are others. They are numbered and less likely to be counterfeited.

Also, if you invest in silver ETFs look for ones that have silver verified by outside agencies such as the Sprott Silver Bullion Fund. Some people question whether the SLV and similar funds have all the silver they claim to have bought. Paper silver is worth as much as paper money if neither is backed up.

dropout of college

But first get a bunch of financial aid to buy silver.

Drop out of college and be a

Drop out of college and be a deadbeat. Riiiggghhttt! Education and having doors of opportunity opened to you is bad!

Deadbeat = college

My opinion only 10% of people in college should be. For most people college is not worth the money you spend. Learn a skill and everything else you're curious about you can learn on-line or in a library for free.

Peter Schiff Video On College

http://youtu.be/kXpwAOHJsxg

I was being sarcastic

Mocking the gold pushers...the anti-college folks...the debt defaulters...etc that are so rampant on this site.

I agree with the "junk silver" comments

It would be best to have minted currency and US is best to have since you probably live here.

Start with 1964 and earlier dimes, quarters, etc and collect pennies pre 1982. Also collect all of the nickels you have and don't cash in that as change.

I'd ask every relative and friend if they have any silver coins and you'll offer them spot for it (that will save you money to start maybe as you won't be paying retail).

You should stick with American Silver Eagles even though there is a premium they are something that is readily accepted. When you buy go to coin shows as they have a variety and deals that an online site won't.

Just start buying though don't drop all your money at once and just make sure you buy a few times from a few places and get used to the experience even it's just a few dollars to start. Then you will know a good deal when you come across it. Nothing can replace experience.

History does not long entrust the care of freedom to the weak or the timid.
Dwight D. Eisenhower

sweet,

thanks again everyone for all the info, i am definitely going to be starting with buying up some pre 1965 dimes. anyone have any good recommendations for websites to purchase from other than ebay? i was looking at some sights today, and they require you to be buying like minimum $100 face value. i am tryin to spend maybe a couple hundred total to start off, and hopefully a couple hundred everyone couple months after that.

www.comparesilverprices.com

www.comparesilverprices.com

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

metalhed19's picture

By what you are describing as

By what you are describing as your income level, i would reccomend what everyone calls "junk" silver, 1964 and prior U.S. coinage, except nickels. Maybe a few ounces of 99.9% silver. The price range will most likely be what your looking for. Then when the printing presses finally run too many times, some of your buying power will be preserved. Remember QE infinity is happening.....

*Wisconsin Constitution* Article I, Section 25 "The people have the right to keep and bear arms for security,defense,hunting,recreation or any other law-abiding purpose"

metalhed19's picture

By what you are describing as

double post please delete

*Wisconsin Constitution* Article I, Section 25 "The people have the right to keep and bear arms for security,defense,hunting,recreation or any other law-abiding purpose"

...

Open a brokerage account on etrade or scotttrade and buy longer term options on ticker symbol (SLV) or (AGQ). Then use the leveraged profits from the options to buy physical periodically.

P.S. You better hurry up. Silver looks coiled to rip some faces off over the next few months (at least)!

Terrible advice

Under the USA Patriot Act you will be held accountable when SHTF. stay under and just purchase with cash.

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

...

I do use cash. You can withdrawl cash from a brokerage account like a checking account, it's not an IRA.

If you can make 500-1000%+ on SLV options in the short term and then take some cash out and buy physical, what's wrong with that? You just have to report the options trades on your schedule D to the irs.

And of course if anyone ever asks about the physical it was lost in a tragic boating accident.

It depends on the future

I for one see Martial Law taking place when SHTF. Therefore I predict anyone investing in SLV options will be identified as a potential domestic terrorist and be detained under the NDAA.

Many silver stackers are resorting to burying their silver as a result of this possible outcome.

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

Maybe, but a lot of people

Maybe, but a lot of people buy futures and options on commodities like corn, gold, pork bellies, silver, oil, natty gas etc. Investing in silver isn't something that's unique to us free market types. There are many people I know who buy silver for trades not really "believing in it" like we do. Many hedge funds, mutual funds, and banks invest in large amounts commodities too.

I do agree though, that people buying physical silver could be identified as domestic terrorists at some point in the future.

and when the paper game

and when the paper game collapses, there will be 1000 people with the same claim on the same metals.

etf's and paper products are a suckers gamble based on the greater fool theory.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

...

Ya, that's why you buy physical too. If you can buy a $100 call option contract, make 1000% on it in a few months, and then buy $800-900 worth of physical silver (with CASH withdrawn from account) it sounds like a good idea to me.

again, thanks for all the input so far,

been researching a good amount today... wondering also... should i just start buying asap, or is there reason to believe that prices might dip a bit, maybe at the beginning of the year?, if anything it will just continue to clime i am guessing, but if anyone has been watching it closely lately and has any insight would be great!

Cyril's picture

Decide for yourself wisely.

No one can decide for you, there.

It's really a bet most of the time.

As a general rule of thumb, the less cash on hand I have to spare and invest in silver (say, below 4 or 5 ounces worth of it as of today) the less important an uptrend or sideways move is for me. I personally stacked as much as I could during the smash of them big boyz (from 34/oz downwards) from this last September till early November. In small chunks, repeatedly.

Conversely, if it were to be for a few grands of fiat money to put in, in one big chunk (100 ounces or more), I'd definitely do as much homework as I can to get clues for a likely downtrend to start first, and watch closely for the best time down the slope.

But there's always a risk for that to never happen, too.

Do your homework and decide for yourself wisely, not hurting yourself.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Silver

Just like any "investments"...

1) Dont pile in at any given moment... Scale in.

2) Buy on the dips... A good thing to remember (just like stocks) is when you are getting scared of the price drop and considering selling, its probably time to buy.

3) Buy from reputable places. I bought mine from NWTM and APMEX.

4) Be careful of the advice you get from people. There's a thread from last year where ppl were discussing the huge rise in silver. PPL were "piling in" thinking the end was near... Well, those ppl are now sitting on a loss. I have a friend of the family that owns silver at $50oz.. FROM 1980 Hunt Bros cornering. They are still a loser as well.

Cyril's picture

On real savings. No hurting, no debt necessary.

I agree. To be in a stacker mindset doesn't mean to imply that one has to make one's daily life miserable just because of it.

If only affording just a few ounces during confirmed downtrends, as long as those are obtained from real savings (no debt or hurting) is IMO already a lot one can do for one's own future/safety.

Meanwhile, others only wish to increase their credit cards limits. Anyone can know better by now, if only they chose so.

That's our free will.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Did You Know ? The Power Of Real Money. Let's Pretend ...

Let's Pretend ... You Had A Magic Wand.

It is believed, with a huge error margin, that there is anywhere between 1 and 10 billion ounces ONLY of (accumulated) silver above ground on the planet (highly pessimistic vs. highly optimistic figures).

The U.S. alone consume 100 million ounces of silver across the board, for ALL usages, IN A YEAR (60% of which they IMPORT, producing the remaining 35 or so million ounces).

More than 80% of the silver thus consumed go to the industrial uses ALONE.

From one year to the other, huge amounts are wasted in landfills (e.g. via obsolete electronics) with a recycling still pretty marginal.

Meanwhile :

The YEARLY WORLD production of silver is circa 800 million ounces ONLY.

The YEARLY WORLD production of gold is circa 80 million ounces (a tenth of silver's).

So, yes... Let's pretend you had a magic wand to have ONLY 10 million americans (i.e., 3% of the U.S. population) wake up tomorrow morning and decide to buy just 10 ounces of silver.

I believe no one needs a drawing...

This is the ugly truth the central bankers and authoritarian planners still manage to hide from most of their slaves.

Truth hurts. First, it hurts. Then, it sets you FREE.

Peace.

----
Refs.

http://www.silverinstitute.org/

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius