Best form of Silver to buy
Submitted by PsychoWorld on Wed, 12/12/2012 - 17:23I 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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IMO...
the most versatile and trusted forms for commerce/barter (and easiest to sell back to a dealer for paper currency if needed) are U.S. Silver Eagles, Canadian Maple Leafs, Morgan dollars, and pre-1965 dimes, quarters, and half-dollars (aka 'junk' silver).
You can buy junk silver coins individually, in rolls of like denomination, or mixed bags. A mixture of denominations is best. Like the poster below said would you rather pay $10.84 for a loaf of bread (today's value of a half-dollar), or $2.10 (a dime)? Some coins may be worth more due to their numismatic 'collector' value, but all will at least have their 'melt' value.
The price of precious metals fluctuates throughout the day, every day. The price is referred to as 'spot.' Check the spot price on www.kitco.com, click on 'all metal quotes' at the top. Then try to find a local shop that charges the least amount over spot, and buy it there. Large quantities - online is best, and Tulving.com is great.
Daily silver coin melt values: http://www.coinflation.com/silver_coin_values.html
You'll find better deals on generic rounds and bars, but you may run into hassles when you try to 'spend' them, or if you ever need to sell some back to a dealer for paper currency. Folks will be wary of accepting them without testing, etc.
Happy Stacking!
When a true genius appears in the world, you may know him by this sign: that the dunces are all in confederacy against him. ~J. Swift
I like
coins, but I have a bit of a numismatic bend, meaning that I collect coins silver or not, so I am biased.
I would think it is easier to fake a bar of silver or gold rather than fake a common date Mercury dime or Franklin half dollar.
I like bullion too though, but a lot of it carries a higher premium (like Canadian Maple Leafs or American Eagles) than other junk stuff.
"The more you sweat in training, the less you bleed in battle."
You are not going to get
You are not going to get anything fake from a reputable company.
Depends on why you want it
and of course, how many FRNs you can part with at a given time.
pre-65 "junk" silver is almost always the cheapest way to go, and would work well in a SHTF scenario (easily recognized, small, several denominations).
10ozt bars are good for longer term storage of value and are also fairly easy to liquidate when needed. 50ozt bars (which are becoming quite rare, in my experience) and 100ozt bars will very likely carry lower premiums, but are far more difficult to liquidate (will become even more difficult once more fakes start popping up).
Rounds typically carry a higher premium than the other two, but are generally viewed as trustworthy and desirable. These would also function well in a post-SHTF scenario (just my opinion, naturally...)
As far as where to buy silver, you can find spot silver on CraigsList semi-regularly, but make sure to meet in a public place and BRING A TEST KIT WITH YOU.
Failing that, there's always the local coin/pawn shops...although I would NOT recommend selling to those places.
You can always order online from about 78540394750239 different websites. Many around here seem to swear by provident metals, but personally I want to see and touch something before I spend hundreds or even thousands on it.
A signature used to be here!
Really depends on how much
Really depends on how much you're willing to spend.
If you live in America I recommend junk silver (dimes, quarters, half dollars, silver dollars) and 1 oz American Silver Eagles.
If you got a $16K I recommend Tulving.com. You'll pay the least in terms of premiums, shipping, and shipping insurance. If you just want to buy a couple coins at a time then the best thing is to go to your local coin shop (LCS). They higher premiums but if you become a regular and get to know the store keeper they will likely give you good deals in the future.
liberty dimes
circulated ones (junk dimes)
they are worth about $2.50 each
a roll is small, and costs $125 (ish)
$2.50 is worth enough to buy something, but not worth enough to make you look rich if you pull a few out of your pocket.
you wont need to "divide" them into smaller units.
liberty is better than silver roosevelt dimes becuase ALL liberty dimes were silver, so there is no doubt.
and they are so tarnished that its hard to fake one.
besides, "Liberty" ... need I say more?
you can buy a roll at any coin collecting shop.
Thank you
But do you think the Kennedy 1964 half dollars would better?
"Truth is Treason in an Empire that lies" - Ron Paul
Educate the masses, and win in the end.
***
Say you want to buy a loaf of bread. Would you rather give a $2.50 dime or a $10.00 half dollar?
There ya go.
"What if the American people learn the truth" - Ron Paul
melt your silver and exchange by weight
;)
Let's melt!
So when I melt, should I make dime, quarter and dollar sizes, so that I may have the correct change, lol?
"What if the American people learn the truth" - Ron Paul
Life is not just about bread
What if you need to fill up your tank?
What if you want to buy a fire arm?
What about those things you need that cost way more then $2.50?
If I had $5000 to spend, not sure I would want 2000 dimes.
Then charge it on a credit card.
Come on JonForRon, I was merely making the point that different denomitations would be wise.
You guys are too uptight!
"What if the American people learn the truth" - Ron Paul
I missed that point,
I guess were on the same page.
:-)
Finally!
And don't forget pre and post 1982 pennies. Pre 82 cause they're worth $.02, and post 82 cause they're worthless and you can melt and make reloads out of 'em. Well, that's what a 'true' conservative would do anyway ;-)
"What if the American people learn the truth" - Ron Paul
at the same time
who goes food shopping just to buy a single loaf of bread?
A signature used to be here!
hungry broke people do
hungry broke people do
"Liberty, once lost, is lost forever" -John Adams
It's hard not to be a menace to society when half the population is happy on their knees. - unknown