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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One Last Thing!

Buy Silver - Smash JP Morgan!

Cyril's picture

Hell, yeah !

Hell, yeah !

Let the people flood begin ! :)

"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

Do Research on Local Dealers

Find a good local dealer. Ask locally and also check web. Although non-standard rounds can be cheaper, I'd buy the name rounds - US Silver Eagles, Canadian Silver Maple, South African, etc - they are harder to counterfeit. I wouldn't buy an independent round unless I knew the manufacturer/dealer.

Budget yourself to buy a couple each month depending on silver's price and your monthly expenses. Figure a way to store securely. You may want to buy a good fireproof safe first and then start buying. You might also store half at your home and half in a safe deposit box to split up your stash.

Also consider junk silver bags that contain pre-1965 US coins with 90% silver. If you have a good month go for a 10 oz silver bar.

For future barter I would buy:
10 & 100 oz silver bars - Major purchases
1 oz bars and coins - Medium purchases
Junk silver - Small purchases

Websites:
www.gold-eagle.com - Daily prices and good editorials
www.kitco.com - Daily and historical prices
maxkeiser.com - Good alternate media

Also, consider buying silver coins as gifts for family & friends for holidays and birthdays.

Also,

Any other good websites to buy other than Ebay?

Cyril's picture

Silver/gold bugs

Forgot to mention. You may want to check these guys' channels, too, once in a while; their Youtube handles :

endlessmountain

silverfuturist

goldenticker

brotherjohnf

They also regularly answer questions or comments from their subscribers.

But the point, of course, should be for you to make your own opinion, and rationale for your own objectives, from the input of distinct sources.

'HTH,

P.S.
goldenticker, notably, impressed me at least once, recently; check out this specific Youtube of his, I linked from there :

"A Pattern To Remember ?"

http://www.dailypaul.com/144648/saudi-markets-fall-over-6-go...

"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

Two well-known resources

Lookup apmex.com and providentmetals.com among others, as serious, legit sellers and buyers.

I'm a happy customer of the latter.

'HTH,

"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

Agreed

Both are good, but I'm a huge fan of Provident Metals. Extremely fast delivery and I believe they have the best coin prices.

Simple Facts and Plain Arguments
A common sense take on politics and current events.

www.simplefactsplainarguments.com

Cyril's picture

Inform yourself and do as best as you can.

Inform yourself and do as best as you can.

This works for me :

http://www.dailypaul.com/263215/us-bank-run-imminent-as-fdic...

Also, watch this specific thread regularly (say, if only once a week), as various current things/news are discussed in regard to the respective purchasing powers, and/or trends thereof, of both precious metals :

http://www.dailypaul.com/144648/saudi-markets-fall-over-6-go...

'HTH,

P.S.
This may be of interest for you, as well, re: the big picture :

http://www.dailypaul.com/261454/the-great-silver-market-myth...

http://www.dailypaul.com/263594/if-silver-goes-down-all-hell...

"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

The FIRST silver I would buy is 99.9% pure wire

Just a foot or two, then learn how to make colloidal silver with it;
Here is one way, there are several:
http://www.youtube.com/watch?v=v_xvOYb8wI4
Next learn why I just told you to learn to make colloidal silver if you don't know.
http://www.naturalnews.com/010038_colloidal_silver_natural_a...

Then go buy some "junk silver." Old US coins - they are easily recognized and a known weight and value. They will be a ready medium of exchange when no one wants your FRNs. How much? Like any good saver, enough to cover 3 months bills is a good start. Calculate that here:
http://coinmelt.com/

Then, buy ounce rounds. The big stuff is harder to sell. KNOW HOW TO SPOT FAKES> Take a good scale with you and watch a few youtubes on the topic before you buy ANY silver - including the junk.

If you want some unusual uses, buy a few silver goblets and plates and silverware and use them. They are provide a low dose of silver every meal.

But then, I am one who just sold most of my silver - to buy a well. Managed to more than triple our money buy holding it as silver, not FRNs or stocks. Part of the trick is knowing when to sell, too. No, it was not the top, but now I have land and a well. And now I'm stacking again...

Love or fear? Choose again with every breath.

21 years old and have been investing in silver for a little

this is a LONG term investment, buy this silver and keep it for years. First experience with silver was not great because I had to sell it back to the coin dealer i bought it from, only maybe 4-6 months later. My motorcycle was stolen and I had to sell my $500 investment in silver for 410$ back to the same shop.... Now second story, bought some junk silver on ebay a little over priced but im still holding it and for years to come. The stuff I am buying is junk silver, coins made Before 1965, quarters, dimes and half dollars. They have been Circulated and are beat up so they have no collector value... what your looking for is the silver content which most are like 90% silver 10% something else for durability. Go to coinflation.com i believe and they will tell you exactly what a 1963 mercury dime is worth right this second on the market

thanks!

I have heard alot of roomers that silver will be going up... When buying silver 1 oz rounds, are they all pure? i dont think so, but is there a standard %? i have seen some people complaining on reviews of some coins saying they were not pure silver. so i am worried about buying worthless coins by accident haha

If your looking to invest in

If your looking to invest in silver on a budget, I would suggest going to your local coin dealer and buying either silver maple leafs or silver eagles when silver hits a low. You can always buy a box of quarters or dimes weekly and try to mine out any junk silver to trade. I have had a bit of luck with dimes lately. Other than that, you can find some decent auctions on eBay, though I wouldn't pay over $5 + spot including shipping.

My advice

Decide how much you can spend per week. Every day look up the silver prices, and see what deals you can get on ebay.

I often find decent deals (market + a smaller markup than you'd get buying direct) on junk silver and 1 ounce american eagles. As someone with not a lot of money to spend this is a great way to gradually invest. Almost everyone can afford an ounce every week or two.

http://lionsofliberty.com/
*Advancing the Ideas of Liberty Daily*