13 votes

Best form of Silver to buy

I have never owned any Gold or silver items before, I am thinking of buying some silver

What is the best ways to purchase them?

Bullions?
Bars?
Coins?

If one of those, what kind of(eg, what kind of coins, from where etc)

And if neither of those, in what other form?




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There are two "types" of coins...

Generally, there are "bullion/generic bullion" coins and "numismatic" coins. "Bullion coins/generic bullion" is just that. You are getting just that, .999 silver coins. "Numismatic" coins are collectible based on rarity, but not always .999 silver. These are ancient, rare coins that have values beyond just their silver content. There is some nuance to this, so I will explain some examples.

Generic bullion comes in many forms- ingots(tiny 'bars'), coins, and loaves(literally looks like a little loaf of bread with the exact weight stamped on it, mostly an odd number like 11.234 oz.). The idea with generics is, though not "collectible" the premium(price you pay over "spot" which is the market's going rate for that day) is minimal- usually in the 3% range. These are always from private mints so it's imperative that you purchase from a reputable mint. Some noteworthy reputable mints are NWT, APMEX, Westminster mint, Sunshine, Silvertowne, Johnson/Mathey, Perth mint, etc. Some retailers try to make the naive believe that there is some 'collectability' depending on the mint and try to take a higher premium for them, but really there is not.

Also, in the .999 silver realm there are coins minted by National Mints. The U.S. makes Silver Eagles, Canada makes Maple Leafs, Austria makes Philharmonics, Australia makes Kookaburras, China makes Pandas, Mexico makes Liberdads, South Africa makes Kuggerands, etc. For these you will pay a higher premium, anywhere from 8%-30% of the spot price depending on which nation's coin you get. A few reasons for this: they are from 'trust' governments, they CAN have some additional 'collectible' value, and they can actually be used as legal tender (one ounce American Eagle has a face value of $1, Canada's is $5, for example. Because the face value of the Maple Leaf is five times that of the Silver Eagle, and the premiums are about the same, I go mostly with Maple Leafs.) National mints also make limited edition coins. Example: For the last four years Canada has made the "wildlife series" with each year being a different animal. Upon initial purchase I paid the same as I would for just a regular Maple leaf (about $3 over spot). But since then the "Wolf" has become highly sought after and is now twice it's value in silver, whereas the "Moose" has not increased with any collectible value. Silver Eagles, Pandas, etc. all have the potential of increasing in some collectible value over time as well. Because of this I like to 'spread it around' by getting National Mint bullion and plain generic bullion and 'scrap' silver like pre-1964 dimes and quarters(which are not pure silver). I NEVER get bars that are over 5 or 10 oz. It's a lot easier to stack bars in a barter situation than it is to divide huge 100 oz. bars.

Numismatic coins are valued almost 100% based on their rarity and collectibility and have nothing to do with their metal content. As you are a novice I INSIST you stay away from these coins. This is how some dealers (like Goldline) rip people off.

Now, where to get these coins? I almost ALWAYS go to a local dealer (here in Seattle) instead of over the internet. Why? I'll explain. A local dealer may charge you 50 cents more than APMEX(the big boy of online dealers) but APMEX will charge you up to $2 per coin for shipping. Do the math. Also, with local dealers you get your silver that day, with no chance of it being stolen out of your mailbox. Online dealers are kind of like Walmart too. Though they might sell generic rounds cheaper than your dealer, they'll mark up Maple Leafs and Silver Eagles higher than your local dealer. So it depends on what you're buying.

If you're getting 500 or more ounces at once of generic then APMEX(who I don't actually use anymore after finding out they bank with JP Morgan) or Gainsville coins. At that quantity the extra for shipping becomes pennies per coin....

If you're getting 30+ ounces of generic rounds, bars, or ingots I like westminstermint.com. They charge $1 over spot per coin, and because of the quantity the shipping per coin becomes more reasonable- in the 75 cents per coin range.

Less than 30 oz. at a time or you want National mint coins and scrap coins? Go to your nearest reputable coin dealer! At my dealer I typically get generic for $1.50 over spot per coin, $2.75 over spot for American Eagles, and $3 over spot for Maple leafs, and on some generics like a loaf or 'dumb' cheesy silver coins(like with Santa Claus on it or Rotary club emblem for example) they will give it to me for 50 cents over spot per ounce...and no hidden shipping costs!

AVOID:
Goldline
Ebay
Craigslist
Swap meets
Only get Chinese Silver Pandas from REPUTABLE DEALERS(there are A LOT of fakes out there)

Oh, and spend $10 on amazon for a pocket sized electric scale that measures troy ounces! It's a must have when buying, or if your selling scrap jewelry for example....makes it a lot harder to get scammed!

And one more thing, youtube is full of charlatans so be careful whose advice you're listening to! Avoid the Max Keiser's and Mike Maloney's!

Oh, personally I'm not buying silver until it's in the $20's again.

Hope this helps! Good luck!

Where to buy silver

I thought I would add you can use http://www.goldshark.com/products/silver-coins/silver-coins-... to compare the prices of top internet dealers. I use this site every time before I purchase.

Here's a link to all the silver coins they have: http://www.goldshark.com/products/silver-coins/silver-coins-...

You can click on the bars on the left side if you wish to purchase those.

That was awesome

Thanks for the tips. Bookmarked for future reference.

Easy question to answer..

Best form of silver to buy?

The "metallic kind" that will be in your physical possession. ;)

www.youtube.com/truefictions

I try to change people every day. Do You?

Southern Coin and Precious Metal

SCPM.COM, absolutely the best I've seen.

They have some of the best online credit-card prices I've seen, and you can save more with a wire transfer. I don't know why they aren't more famous, but I bought some CHEAP walking liberty half dollars there (15% below apmex.com prices). In the bag I got 6 MS62+, almost perfect coins, the rest were really great, only a few crappy ones (silver is silver, though).

I recommend junk silver, (pre 1965). Its recognizable, pretty, and if silver prices go in the toilet, it can be worth more than the melt value.

Also, a dime is about 2-3 bucks worth of silver, and sometimes you'll just want to buy some chicken fingers after the apocalypse. A 1-ounce silver round should buy a great dinner for 2-3, but what about smaller purchases?

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

For cheapest, close to melt

For cheapest, close to melt price, buy 'silver rounds' which are usually discounted quite a bit by online sellers or included in junk silver buy offers. These are old commemorative coins, same silver value .9999, that have tacky designs (football game, honoring Fire dept, special events, etc).

Southern Agrarian

Northwest Territorial Mint is great and...

...they advertise right here on the DailyPaul.

Be sure to click on THAT link so hopefully Michael will get a little percentage back.

Not sure that's how it works, but I think it is.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

Guys, it really comes down to

Guys, it really comes down to this. If we there comes a time that we really need to use our physical silver we will all know the reputable companies. No one is going to have the time nor the resources to fake the shit. Just buy your silver from a good reputable company, APMEX for example, and you will be fine. I have used them a lot and it's always been a good buy. It costs more with shipping but I think the future bartering value is worth it. The market price be damned... unless I'm buying it. I always wait until it is below 28 to buy.

One thing to note. In my mind

One thing to note. In my mind it would be good to buy like 1/10 silver coins but you pay a higher premium for them so it really comes down to what you think you want or how you will use them. You can always break down your silver coins but that is a hassle. I personally like 1/4 oz. coins because they are a medium. They are worth roughly 8 bucks depending on the market. But in a time when we may need them they will be an easily tradable coin that will break down easy on its own. I'd like to get some 1/10 coins but I think they're not be as useful. There'd be no reason, I think, to trade in 1/10 silver. I think 1/4 silver coins are about the best because it is not too much and not too little. That's what I prefer anyway. Aside from American pre-65 dimes and quarters I'd get 1/4 oz. silver rounds. That's just me.

Shovel, burrro... miner tent,grub...

Hard work was not for me. I spent my time reporting on others doing the digging. I sought jobs w/o work... Buying coin is opposite my intuition. I used coin to buy what I wanted. It confounds me that ever single one of you bright lads has what I know completely turned around.

Am I lost? Why is every single post card arriving from you supposed liberty minded folk hankering to buy sound money? Is digging for metal a lost art?

Perhaps some of you will take your turn at the business end of a shovel.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

I would love to do so but

I would love to do so but right now I have a family and school and I'd just as soon finish that and make dollars and then buy silver and prepare that way. Dollars still buy things so I don't need to go dig silver when I can get paid to keep someone out of jail and then go buy silver with it. I don't buy gold by the way. I don't trust it. Silver is more valuable in my mind because it has many more practical uses.

echoing what others have said...

Before you start, consider what your goal is - are you a saver or are you trying to "invest" in the hopes of a big run up in price? If you're a saver, great. Stack away, dollar cost average, and you'll probabl think of your stack in terms of ounces, not "dollar value" either way. If you're looking to invest? Maybe not such a great thing, since silver and gold are MASSIVELY manipulated (and have been for a while) so you're not going to make any sort of big killing quickly.

1) If you don't HOLD it, you don't own it - buy PHYSICAL (aka "phyzz"), never PAPER.

2) Unless you're a hard core coin collector, stay away from numismatics ("collectible coins"). Yes, they may have some "collectible" value now, and even into the future, but you're buying for the value of the silver. Most collectible coins are vastly overpriced relative to their actual silver content, and when you're looking to buy food or fuel in a SHTF scenario, nobody is going to care that the quarter you have is "rare" and should be valued more than any other, to be honest.

3) Stick with things you know and most people will recognize (American Silver Eagles, pre-1964 "junk silver" coins, esp. dimes and quarters which are smaller quantity and easier to spend for smaller purchases). Nothing wrong with getting some reputable rounds or bars from reasonably well known sources either, but the more generic the item, the harder it may be to convince someone it's actuall silver sometime down the road.

4) Consider getting a cheap but decent pocket scale. There are several decent options for under $20 on Amazon and other sites, and they can be very helpful to figure out the actual coin weights for junk silver if you're trying to establish the value of what you're buying or selling and/or ensure that not TOO much has been lost to wear from regular use in circulation and all.

5) GO TO YOUR LOCAL COIN SHOP. If you're lucky, or live close enough to one, it's often a really GREAT way to make purchases and stay reasonably under the radar, and you can often get some good deals. Never hurts to be friendly to those guys, they can give you a heads up to anything they hear and may let you sort thru their junk silver bins to pick your coins as you go (if you develop a friendly relationship or they are not being jerks). Personally I'm very distrustful of making any sort of bullion purchases online and using CCards which can be reported on and traced. Cash 'n carry, keep the sales helping the local businesses, and keep it all nice and on the down low.

6) Don't talk about any stacking you do (details) with anyone - MAYBE a significant other, but that's it. The less folks know, the better off you are. Nuff said there... loose lips sink ships and all that. Never give anyone even a reason to be curious, ya know?

Most important - have fun. It's actually fun and exciting to do this, and a decent step in helping to be prepared and preserve wealth in a form that's not going to lose value due to QEInfinity or anyting else. Figure out what you can afford, and probably the smartest way to do it is to establish a rhythm for yourself of making regular purchases - "stack the smack", look for times when the prices are manipulated down to buy a bit more of course (if you can), but dollar cost averaging is your friend and right now, it's still very much "cheap" compared to where it's likely to end up when the system eventually breaks and the dollar goes bust.

Thanks

But how are the silver and gold being manuiplated? I would like to know

"Truth is Treason in an Empire that lies" - Ron Paul

Educate the masses, and win in the end.

probably too long to get into here..

But GATA (Gold anti-trust action committee) is a GREAT place to start.

Sites like SilverDoctors.com and SilverStackerHaven.com (and many others) often feature commentary and articles that go into the manipulation in great detail. I've been reading up and learning on it for the better part of two years now (maybe a bit more), and still don't know anywhere near as much as many of those guys do, but for me it's more a "hobby" or fun intellectual pursuit (I'm an engineer and IT guy, so some of the "how markets work" stuff isn't what I learned in school).

In short, it comes down to a lot of naked shorting of gold and silver, and if you start looking at the daily charts, you start to see patterns emerge. Like MASSIVE smashes in price daily around 8AM or so, or every time the FED has a minutes release or gives a speech, stuff like that. And the huge price hammering is done by someone dumping insane (some might say impossible) amounts of the item for trade almost instaneously - like, amounts equivalent to an entire year's worth of production, in the space of 5 seconds. Stuff like that.

It's a really fun little rabbit hole to go down if you're serious about stacking and want to understand more of what's happening currenlty in the market. CFTC has been doing an investigation into manipulation of the silver market for going on 4 years or so now, and it's still "in progress".

One of the reasons put forth for WHY such a small market is manipulated (both gold and silver) is the "canary in a coal mine" view; gold and silver, which both have historically had long runs and been recognized and used as actual "sound money", would see prices relative to USD, Euro, etc rise dramatically all other things bieng equal (and unmanipulated). That isn't happening to the extent most believe it would/should, largely because such a price run-up would be like the proverbial "canary in the coal mine" dying, giving everyone a tip that maybe things are not so awesome with the economy and such as we're told by "mainstream" outlets. When that run up eventually DOES happen, when the broad population catches on that "something is up" and starts to move with a sense of panic into precious metals, THEN you know the jig is up. There's a LOT of effort currenlty into discrediting a "gold standard" and the concept of gold (or silver) as money. We're no where near the panic stage where the population at large moves into gold and silver as the next "big, safe thing" so for now - it's like buying at a fire sale.

Even looking at performance over the last 20+ years, you sort of can't go wrong at least in simply buying and holding. I think that 2012 was the first time in 9 or 10 years that gold DIDN'T beat S&P500, and that was only just BARELY the case.

Brand names

Get silver in a form that potential buyers will trust. I've got pre-1965 US coins and US Silver Eagles.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

It does not matter at all as

It does not matter at all as long as you are getting as close to market as possible. They are for hedging unless you are very wealthy and you are trying to speculate. Buy the cheapest you can.

Buy Maples and some eagles and bars

i like bars get more for your money...remember always stay focus..silver is silver.

when money is scarce those premium collectors coin will drop in price(tough economy).

i ride the market and once in a while i treat myself with higher premium coin for my collection.

Keep stacking them.

I'll guarantee that the

I'll guarantee that the premium on a silver eagle one day will be more than the cost of the eagle today.

“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

Not when all of the

Not when all of the collectors are dead or not caring. Silver is silver. When it gets to the point you need to barter with your silver then no one will gives 2 shits what the silver was stamped into or when.

90% of the people will not

90% of the people will not know how to tell counterfeits. No way they will be buying anything they don't easily recognize.

Silver is silver....unless you're not sure if it is.

Gold Eagle premiums today are higher than what the ounce coin cost years ago. Same will happen to the silver eagles.

“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

and you can fake a silver

and you can fake a silver eagle as easily as you can fake anything else... so what does it really matter? What matters is the metal value.

who is faking a $30 eagle?

who is faking a $30 eagle? Who is faking pre 1965 US coins? The technology necessary to pull it off wouldn't even be worth the tiny profit margins. Gold or large silver bars is another story entirely.

Feel free to keep thinking it's easier to fake the most well known coins in the world vs. rectangular blocks of metal.

Are we really even having this conversation? I thought most people knew the basics.

“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

Chinese Companies

Are faking all kinds of stuff...

Gold Bars & Coins
http://haulson.en.made-in-china.com/product-group/boMEtsGVbA...

Silver Bars & Coins
http://haulson.en.made-in-china.com/product/MoDEztYlITHP/Chi...

Nice lookin' Morgan Dollars!
http://www.aliexpress.com/store/311642

Shows up on ebay as "layered" (layered with a thin film of silver plating over copper)

by the way, those fakes look

by the way, those fakes look like garbage.

“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

Don't ever buy on ebay...Buy

Don't ever buy on ebay...Buy from Apmex or another highly trusted dealer.

Bix Weir summed it up best...

"people are waking up that NOT all forms of silver will be dealt with in the same manner in the future. US Silver Eagles and pre-1965 silver coins are the coinage of the United States and when the inevitable crash of fiat paper and electronic Federal Reserve Notes finally happens these silver and gold coins will be all we have left to be used as our official money. Other forms of silver will NOT be accepted as money and may even be taxed so heavily that all the hoped for investment gains may be swallowed by Uncle Sam"...

"Now is NOT the time to save a couple bucks on the SE premium for two simple reasons:

1) Although you buy them at a premium you can sell them at a premium as well.

2) American Silver Eagles are US Mint coins denominated as $1 according to law and when the derivative bubble destroys all other forms of Federal Reserve created money the value of a REAL $1 coin will be astronomical!"

Learn more about Bix Weir and his Road to Roota theory at www.roadtoroota.com

Interesting stuff.

“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

If you can't tell real silver

If you can't tell real silver from fake then I guess you won't get it. It's easy to tell just by sight let alone the other ways.

LOL...yeah right. Didn't

LOL...yeah right. Didn't know I was talkin to a know it all big mouth.

I've seen 1000 oz silver bar fakes that 99% of the people would have no idea...not even u, Mr. know it all.

“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

silver eagles and pre 1965

silver eagles and pre 1965 90% US coins by the bag.

Here...I've made it easy for you....

http://www.apmex.com/Product/27/90_Silver_Coins___100_Face_V...

http://www.providentmetals.com/2013-1-oz-american-silver-eag...

I'm hesitant in pre-ordering 2013 Eagles in case the SHTF any day now. I still don't know why they quit making the 2012's early. Apmex still has some...

http://www.apmex.com/Product/65202/2012_1_oz_Silver_American...

You can compare prices at www.comparesilverprices.com

Apmex and Provident (Provident usually a bit cheaper) are 2 of my favorites. Don't screw around with bars.

“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

Silver Eagles

I've been a collector/investor for 30+ years. I always recomend to people first bullion purchase to make is Silver Eagle.
1. Reconized world wide.
2. Weight and purity gauranteed by U.S. Mint.
3. Produced with American mined silver.
4. one troy ounce each.
5. very easy to resell.
Yes there is a premium when purchasing them, but I believe the pro's out-weigh the con's.