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Silver

Hi - This is my first post. I've been to this site many times and read lots of info that everyone has posted. I'm convinced that we need to buy silver, but I have no idea where to start. Can you please post links and info. Do we look for coins, try to find stuff made of silver, or do we go to some place and buy bars or something? Thanks!



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Read this book. It's a

Read this book. It's a quick read and you will understand exactly where to put your money depending on your risk comfort.

The Coming Collapse of the Dollar and how to profit from it by James Turk

http://www.amazon.com/Collapse-Dollar-How-Profit-Investing/d...

How to buy silver

Monex corporation is your best bet. I have bought from them, and there is no hassle. You can't buy a small amount -- think around $2,000. Check out their website.

Stirner.

I hate to advertise other

I hate to advertise other forums but DP is more of ongoing chat room as opposed to an organized forum. Try visiting the Economics tab from RonPaulForums. There is lots of good information about metals and where to purchase.
http://www.ronpaulforums.com/forumdisplay.php?f=204

Is Inflation Robbing You?

Is Inflation Robbing You?

Check This Out:

http://www.richdad.com/RichDad/RichContent.aspx?cpid=63

Then this:

Many individuals have posed the question to me... How do you

protect yourself against inflation?

As a response I would like to share the following:

I have been purchasing (1) ounce silver eagle dollars with my

fiat money... Two (2) per month... As a retiree living on SSN

that is all I can afford...

Recently I have come across this company

http://silversnowball.com/75 from which I am now making my

purchases... If you feel comfortable with this program feel free

to participate... If not, do as you wish... Yes I benefit from

this post as most of you will if you take advantage of the

program... However, I felt confident that many of you will

welcome this information... Thanks... And have a great day...

Joel...

Don't buy nickels

if you want to buy silver. Nickels never had any silver in them. Only 1964 and earlier dimes, quarters, halves, and silver dollars had silver.

I bought some old dimes

most were mercury, but there was an old 1877 thrown in there. Now I know where the expression "one thin dime " came from, it was really worn and thin. Makes you wonder what a dime would buy back then.

War nickels

1942-1945 nickels had 35% silver.

Give us clear vision, that we may know where to stand and what to stand for - because unless we stand for something, we shall fall for anything.
~ Peter Marshall, US Senate Chaplain 1947

That may be the case,

but I doubt that one would want to buy them. Many coins in other countries had X% of silver, but I doubt one would want to buy those either.

You will be hard pressed to find all that many "takers" in the event that you want to actual use them to buy something.

Nickles in WWII were silver.

Nickles in WWII were silver. They call them war nickles.

thank you

All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.
Arthur Schopenhauer

My preference

http://nwtmint.com/

Give us clear vision, that we may know where to stand and what to stand for - because unless we stand for something, we shall fall for anything.
~ Peter Marshall, US Senate Chaplain 1947

I used to use NWT...

... but I didn't like the fact it took up to 3 months to get my silver. Now I use APMEX and get my metals in about a week.

As I said

There are MANY others.

Give us clear vision, that we may know where to stand and what to stand for - because unless we stand for something, we shall fall for anything.
~ Peter Marshall, US Senate Chaplain 1947

i have a question please

i want to buy some silver today. i am thinking about the pre ? coins. is is pre 1964 or what. and should i buy today?

All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.
Arthur Schopenhauer

1964 AND older

All coins (dimes, quarters, halves, and dollars) were 90% silver through 1964. 1965 through 1968 half dollars are 40% silver.

Bullion is available which is .999 (or greater) silver from many sources. I personally like http://nwtmint.com/ but there are many sources.

Gold, even at $1000/oz., is still a good bet.

Give us clear vision, that we may know where to stand and what to stand for - because unless we stand for something, we shall fall for anything.
~ Peter Marshall, US Senate Chaplain 1947

Just to add

You can also find 90% silver in S-mint proof sets, but those can be cost-prohibitive. They do occassionally pop up in general circulation, though.

One of my numismatic sidelights is when I find the occassional error coin, I cash it in for gold or silver as well. Some errors are worth some good $$. I also cash in old currency as well (Silver or Gold Certs, US Notes, War Notes, even Confederate Notes, Large Size/Horseblankets, etc, even the occassional old FRN if the condition is right).

Lots of ways to go

It all depends on what you're after. For me, personally, I want something that is going to increase in value and could be used as currency if a serious economic collapse were to hit the US. There are a lot of places to go for info. You can google Ted Butler... he's a common name mentioned in silver.

Your options for owning silver are pretty varied. You can buy "junk" silver coins... which are regular US coins (nickles, dimes, quarters) minted during a time when the coins contained actual silver. The value of the coins is derived from the amount of the metal they are known to contain.

I've been investing in the 1 oz silver bullion coins. I own some american eagles as well as 1 oz coins from other countries (canada, china, australia). These are nice because they are widely recognized and contain a known amount of silver. Also, the current price of silver (~$20 per oz) means that it is a convienent store of value. In other words, I do a lot of shopping with 20 dollar federal reserve notes, so silver coins storing that much value would be handy if the dollar were to collapse and silver became a viable option for purchasing goods and services.

In order to buy bullion coins, you have several choices. You can buy from a local coin shop. The advantages here are you can buy small lots, pay in cash, and there is no trail. You can walk in with a $20 bill and walk out with an ounce of silver. Very easy to get started this way. The down side is that you will probably have to pay sales tax, so this cuts into any profit margin you might be considering if/when you were to resale for US dollars.

You can also buy online from a number of bullion stores (just google for them). These stores are nice because they don't charge you sales tax, but you will have to pay shipping. That also adds a surcharge that cuts into any profit margin you might consider. The larger your purchase, the less shipping matters. So, you'll have to do the math to see what makes sense.

I've been using www.bulliondirect.com for a month or so now and I really like it. Kinda combines the best of both worlds. They have a personal vault system where you can buy things one or two at a time without paying sales tax and have them set aside for you. Then, whenever you want, you can request that the stuff they are storing to you be sent to you. In this way, you can buy just a little at a time until you have a decent collection and then have them ship the larger lot to you. That way, you spread the cost of shipping across many coins and minimize the per oz cost of shipping.

I would not recommend getting started investing in silver by purchasing other silver goods (dinnerware, candlesticks, art, etc). They don't have a known and widely recognized silver content, so their value isn't obvious. That makes them harder to liquidate and less useful for bartering/echange.

Hope that helps.

paper trail

You talked about going into a coin shop and paying cash so that there is no paper trail. Can you explain this more? Is the reason about taxes or that there is no record that you personally own precious metals?

Paper trail

Most places there is no "record" so to speak of unless you are putting the metals into an IRA account. Then they have to be claimed as assets. Otherwise, but as much as you like and you should have no problems at all. Probably want to buy a safe first if you dont have one already.

A little of both

It really just depends on how discreet you are wanting to be. But, both of those are benefits of buying via coin shop. If all you are doing is buying, then the sole benefit of it would be that there is no record that you own any precious metals... that may or may not matter to you.

Other benefits kick in when you start to sell. For instance, my local coin shop told me that as long as the transaction is relatively small (<$1000), he'd be happy to buy back my bullion with cash. At least here in my state (OH), all the tax reporting responsiblity would be on me. For me, that's a tax benefit ;)

APMEX.COM

Our a local coin shop. I suggest American Eagles or any us mint coins even old qurters and such that contained silver