Posted: 8/15/2005 8:56:57 PM EDT
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where is the best place to buy silver bars? silver closed at $6.93 a oz. called a couple of coin dealers and silver 1 oz bars where going in the $9.00 range. i want to start buying some silver on paydays,but i can't see having to pay $2-$3 mark up on it. so where do i need to look to find silver at close to trading price. yes i am new in buying silver. i rather buy it 1 oz bars than buying coins.alot harder for it to be accidentally spent. it something that would be easier for my to buy couple times a month and maybe later down the road trading it in and getting gold. to me i think it would be easier for me to save than having cash laying around. |
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I just buy mine at the Local Jeweler in the Mall, he has NO markup, he sells for whatever the current Market Price is, he even has a TV in the store he has soley for keeping up on the worth of precious metals. And and Specop_007 is right, just buy local, shippings a bitch, I found that out the hard way too  
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Why are you buying silver bullion? Other than a few, very short-lived spikes, the price of silver has remained remarkably flat for decades. See for yourself: www.kitco.com/charts/historicalsilver.html |
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These coin dealers have a buying price and a selling price. Buying price is usually at least $1 over the spot market price, selling price depends on greed usually $2 over spot market price. Cash price is always cheaper price just like when you are buying a weapon of choice from your gun dealer. Also check out USA Morgan and Peace type dollars, also dime, quarter and half dollars before 1964, ask what coin dealer has for circulated (rough, culled, poor quality) silver coins, also Canadian silver coins. US coins before 1964 are 90% silver, careful the half dollar from 1965-1969or70 are only 40% silver. Stop in, dont call, dont act stupied or they will rip you off. Make sure to lock-up your investment in something that cant be carried away!! Most of my collection was bought when silver was at $4-$5 an ounce range. I bought 2 100oz bars a few years back at $50 over spot each = a little over a grand, that was my last purchase. |
------------------------ And you can wipe your ass with the paper they are printed on, or start a cooking fire with them if necessary. Silver in hand will more likely be accepted in trade for goods and services......paper usually won't. Although I have some silver, I prefer to buy ammo these days. It could be real hard to come by in a SHTF situation. |
You expecting the economy to tank any time soon? |
100% agreement there! The same goes for old paper money like "Silver Certificate." |
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so whicj is better to buy silver 1 oz bars or silver coins? to me coins seem to be overpriced, if you can buy a 1 oz bar for $7.83 you can buy a 1 oz 2005 silver american eagle for $9.03 why would i buy the coin? do they gain that much value over time vs silver bar? |
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Coins cost more/are worth more because they are minted vs refined silver bars. Except for when the Hunts tried to corner the silver market, the ratio between gold and silver price has been relatively static fo 100 years or more. You make money on the spikes. Current price is elevated over the average price in a 15 year cycle. SRM |