[ARCHIVED THREAD] - Silver question (Page 1 of 2)
Posted: 8/30/2016 10:57:47 AM EDT
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Not sure if this belongs here, but I didnt find an more appropriate place.
I have about $3K I'd like to buy some physical silver with for speculative purposes. I cant care less about numismatic collect ability. I'd prefer smaller pieces so that it may be usable for barter if needed, but wouldn't rule out a larger chunk if the price were right. Does anyone have experience in this? Have any good places to purchase? Advice etc? TIA |
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I like Canadian maple leafs. Gov't issued, .9999 pure. Exactly... Or American 1 oz Eagles Anyone will recognize these coins in a SHTF and you won't be left holding an expensive paper weight bar or silver gimmick. OP you're a little late to the game, rolls of American Eagles were selling for less than $400 ~6 months ago ---on eBay. Guess who snapped some up! Guess who wasn't paying attention and didn't buy more... Recently they are up about $100 a roll from then... 
Still a good deal??? |
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Here is alot of silver info for you if you haven't looked through this thread...
http://www.ar15.com/forums/t_1_75/1764323_Pike_s_Silver_Thread.html |
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Not sure if this belongs here, but I didnt find an more appropriate place. I have about $3K I'd like to buy some physical silver with for speculative purposes. I cant care less about numismatic collect ability. I'd prefer smaller pieces so that it may be usable for barter if needed, but wouldn't rule out a larger chunk if the price were right. Does anyone have experience in this? Have any good places to purchase? Advice etc? TIA If this is the first PM youre buying, make sure its portable, meaning gold. 3K is a lot of silver. 3k worth of silver is HEAVY. Id put 2k or 2.5K in gold, 1/10 and 1/4 eagles, and the rest in silver. As for pre 65, eagles or other forms of silver, you need to balance the following: Recognition/premium/conterfit risk. Bars are my least favorable form of PM. Ealges are your best bet, but premiums are high and 1oz of silver isnt small enough. Pre 65 dimes and quarters is a great way to go IF you find it at reasonable premiums. I bought some Peace dollars recently at very low premiums. Its about looking around and findign good deals, but make sure you get silver that people know and accept. FerFAL |
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Here is alot of silver info for you if you haven't looked through this thread... http://www.ar15.com/forums/t_1_75/1764323_Pike_s_Silver_Thread.html Cant access it. Guess you have to be a team member. |
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I think speculation and SHTF barter are goals at odds with each other. If you just want to speculate, paper silver like an ETF may have much lower transaction costs (premium over spot, shipping, sales tax, etc.) If you want something to barter, physical is what you want in various sizes, something easily recognized and accepted. Stuff from gov't mints fits the bill in that they are recognized and have the weight and purity right on them. Not a fan of old circulated coins for that reason, I think people greatly overestimate how many people know they have silver at all, let along how much. Frankly, I don't think PM are great for barter in SHTF to begin with -- lighters, TP or booze would probably all be better
That said, APMEX and JM Bullion are good places to buy, JM has free shipping which is a big thing to me. Especially if you are speculating, it is pretty easy to start your investment quite a bit over spot once you factor in all of your transaction costs. |
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If this is the first PM youre buying, make sure its portable, meaning gold. 3K is a lot of silver. 3k worth of silver is HEAVY... FerFAL You consider 10lbs of silver too heavy to toss in you car, bike, pack...? That's about the size of a couple of AR15 magazines. He's not looking to hide three gold maple leafs up his ass to smuggle them across the border. |
| Was lucky to have a chance to purchase 60 AU peace dollars for $16.00 each. Local jewelry shop is where I get the best buys. No tax, shipping and I can sort through the culls. He usually averages between $16-$17 each. Dimes/Quarters/Halves at less than Dollars. |
| Ok, here is my take on this whole silver issue. I purchase mine online and I use APMEX or JMBullion. I make them compete for my business. I have local coin shops I could go to but I feel safer purchasing from big online vendors. I only stack pure silver which is .999 or finer. I do not care for junk silver because it is mixed with other metals. I buy 1 oz coins, not rounds. Do not give in on numismatics and semi-numismatic. I don't give a shit about rarity, I look for the weight and content of silver. Its only worth its weight in silver and nothing else to me. I know people out there pay stupid money for those Chinese Pandas and Pamp Suisse. If you want to collect as a hobby, do it with baseball cards and stamps. Don't do it with precious metals. Silver is all I can afford right now. Avoid buying rounds. They can be counterfeited or unrecognizable. With your budget I would buy only 1 oz of gold. That would help with a big purchase or trade. I like to have 1 oz coins to trade for smaller things like maybe some food or a tank of gas. Step it up and get 10 oz bars, it is the most popular size. Junk silver to me reminds me of sterling silver. You want something that is pure and not mixed with any other metals. Now if you find some junk silver in circulation, keep it or trade it for pure silver. Last week I found my first ever junk silver and it was a silver war nickel from 1942. 1942 to 1945 are the only years that silver were in nickels because our military needed the metal nickel for armor plating and used 35% silver to mint nickels. I started stacking last year and experienced last year's prices and thought I did pretty well before the price rose up after BREXIT. |
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You consider 10lbs of silver too heavy to toss in you car, bike, pack...? That's about the size of a couple of AR15 magazines. He's not looking to hide three gold maple leafs up his ass to smuggle them across the border. Quoted:
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If this is the first PM youre buying, make sure its portable, meaning gold. 3K is a lot of silver. 3k worth of silver is HEAVY... FerFAL You consider 10lbs of silver too heavy to toss in you car, bike, pack...? That's about the size of a couple of AR15 magazines. He's not looking to hide three gold maple leafs up his ass to smuggle them across the border. I dont know what he's planning to do. As someone that actually did what many here talk about all the time without actually having done it (as in, leaving everything behind and never coming back, just carrying a couple bags) I can tell you that every single ounce of weight matters. Heck, any backapcker will tell you as much, that 10lbs is a LOT of weight. If you are bugging out, either with plans of coming back or not, weight is an issue. Your BOB needs to be light, the last thing you need is 10lbs of metal which you could have turned into a few ounces by going with gold instead. When I left my country they where going after people carring too many dollars. The limit was 10.000 USD, maybe less, all I know is that I had way more than that on me at the time and I was swaeting like a pig until I got pass customs. The weight and bulk of the silver I had was an issue to, I remember wishing | had gone for gold instead. FerFAL |
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Quoted: I dont know what he's planning to do. As someone that actually did what many here talk about all the time without actually having done it (as in, leaving everything behind and never coming back, just carrying a couple bags) I can tell you that every single ounce of weight matters. Heck, any backapcker will tell you as much, that 10lbs is a LOT of weight. If you are bugging out, either with plans of coming back or not, weight is an issue. Your BOB needs to be light, the last thing you need is 10lbs of metal which you could have turned into a few ounces by going with gold instead. When I left my country they where going after people carring too many dollars. The limit was 10.000 USD, maybe less, all I know is that I had way more than that on me at the time and I was swaeting like a pig until I got pass customs. The weight and bulk of the silver I had was an issue to, I remember wishing | had gone for gold instead. FerFAL Quoted: Quoted: Quoted: If this is the first PM youre buying, make sure its portable, meaning gold. 3K is a lot of silver. 3k worth of silver is HEAVY... FerFAL You consider 10lbs of silver too heavy to toss in you car, bike, pack...? That's about the size of a couple of AR15 magazines. He's not looking to hide three gold maple leafs up his ass to smuggle them across the border. I dont know what he's planning to do. As someone that actually did what many here talk about all the time without actually having done it (as in, leaving everything behind and never coming back, just carrying a couple bags) I can tell you that every single ounce of weight matters. Heck, any backapcker will tell you as much, that 10lbs is a LOT of weight. If you are bugging out, either with plans of coming back or not, weight is an issue. Your BOB needs to be light, the last thing you need is 10lbs of metal which you could have turned into a few ounces by going with gold instead. When I left my country they where going after people carring too many dollars. The limit was 10.000 USD, maybe less, all I know is that I had way more than that on me at the time and I was swaeting like a pig until I got pass customs. The weight and bulk of the silver I had was an issue to, I remember wishing | had gone for gold instead. FerFAL If you have to grab what you have, carry it with you, of course gold is a more dense storage unit. However, its hard to pay for a taxi with a 1 ounce gold coin (well, its hard to get change back anyway  ), etc. Dense storage of wealth it is, but it depends on what your goals are. |
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Yes, but he was looking at silver for speculative purposes, not a store of wealth. If you have to grab what you have, carry it with you, of course gold is a more dense storage unit. However, its hard to pay for a taxi with a 1 ounce gold coin (well, its hard to get change back anyway ), etc. Dense storage of wealth it is, but it depends on what your goals are.
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If this is the first PM youre buying, make sure its portable, meaning gold. 3K is a lot of silver. 3k worth of silver is HEAVY... FerFAL You consider 10lbs of silver too heavy to toss in you car, bike, pack...? That's about the size of a couple of AR15 magazines. He's not looking to hide three gold maple leafs up his ass to smuggle them across the border. I dont know what he's planning to do. As someone that actually did what many here talk about all the time without actually having done it (as in, leaving everything behind and never coming back, just carrying a couple bags) I can tell you that every single ounce of weight matters. Heck, any backapcker will tell you as much, that 10lbs is a LOT of weight. If you are bugging out, either with plans of coming back or not, weight is an issue. Your BOB needs to be light, the last thing you need is 10lbs of metal which you could have turned into a few ounces by going with gold instead. When I left my country they where going after people carring too many dollars. The limit was 10.000 USD, maybe less, all I know is that I had way more than that on me at the time and I was swaeting like a pig until I got pass customs. The weight and bulk of the silver I had was an issue to, I remember wishing | had gone for gold instead. FerFAL If you have to grab what you have, carry it with you, of course gold is a more dense storage unit. However, its hard to pay for a taxi with a 1 ounce gold coin (well, its hard to get change back anyway ), etc. Dense storage of wealth it is, but it depends on what your goals are.
He mentions speculative, meaning a "just in case" which I suppose most of us do too. I know I do. SHTF and you have something that still has its weight in gold/silver. I didnt worry about it either and only noticed how much of a drag and actual risk it was when caught in the situation. If I had to move back then with the ammount of precious metal I have now it sure would raise a few eyebrows so Im trying to focus more on more compact gold becuase that stockpile of silver gets big pretty fast. Another thing the OP mentions is lack of interest in "numismatic collect ability". Thats a big mistake. Even if youre not interest and never plan on buyign numisamtics you should still know your coins. Lets say youre not interested in this stuff at all and just want to put away a bag of junk sivler, maybe pre65 dimes and quarters. It would be a BIG, BIG mistake to trade away a 1916 D Mercury worth $10.000 or more just becuase oyu couldnt be bothered with knowing the difference. Maybe you dont have a 10k coin, but its almost as bad to throw around a mercury 1921 worth 900 bucks, and there rare coins in most series. I sometimes buy junk silver that has a much higher numismatic value. When the difference is significant, say paying 0.50 cents for a "junk" coin that people are willing to take off your hands for $40 on ebay all day long, I really have no choice but to put it away in an album. FerFAL |
| When the Hunt brothers attempted to corner the market in the late 70's and early 1980 I could purchase a bedroom suite of furniture for 9 silver dollars ( a rural furniture store and probably not the highest quality furniture) and a 90% dime (pre-1965) bought a gallon of gas at the gas station across the street from the police station I worked at. It was quite simple, the value of that 90% dime or 9 silver dollars was equal to or greater than the value of paper money as the silver could rise in value. A local gunshop was selling firearms for silver dollars as well. Although fueled by speculation of the silver market it was easy for a retailer to set his price for goods in silver. I think the same scenario is very possible in a cash crisis. |
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Quoted: He mentions speculative, meaning a "just in case" which I suppose most of us do too. I know I do. SHTF and you have something that still has its weight in gold/silver. I didnt worry about it either and only noticed how much of a drag and actual risk it was when caught in the situation. If I had to move back then with the ammount of precious metal I have now it sure would raise a few eyebrows so Im trying to focus more on more compact gold becuase that stockpile of silver gets big pretty fast. Another thing the OP mentions is lack of interest in "numismatic collect ability". Thats a big mistake. Even if youre not interest and never plan on buyign numisamtics you should still know your coins. Lets say youre not interested in this stuff at all and just want to put away a bag of junk sivler, maybe pre65 dimes and quarters. It would be a BIG, BIG mistake to trade away a 1916 D Mercury worth $10.000 or more just becuase oyu couldnt be bothered with knowing the difference. Maybe you dont have a 10k coin, but its almost as bad to throw around a mercury 1921 worth 900 bucks, and there rare coins in most series. I sometimes buy junk silver that has a much higher numismatic value. When the difference is significant, say paying 0.50 cents for a "junk" coin that people are willing to take off your hands for $40 on ebay all day long, I really have no choice but to put it away in an album. FerFAL Quoted: Quoted: Quoted: Quoted: Quoted: If this is the first PM youre buying, make sure its portable, meaning gold. 3K is a lot of silver. 3k worth of silver is HEAVY... FerFAL You consider 10lbs of silver too heavy to toss in you car, bike, pack...? That's about the size of a couple of AR15 magazines. He's not looking to hide three gold maple leafs up his ass to smuggle them across the border. I dont know what he's planning to do. As someone that actually did what many here talk about all the time without actually having done it (as in, leaving everything behind and never coming back, just carrying a couple bags) I can tell you that every single ounce of weight matters. Heck, any backapcker will tell you as much, that 10lbs is a LOT of weight. If you are bugging out, either with plans of coming back or not, weight is an issue. Your BOB needs to be light, the last thing you need is 10lbs of metal which you could have turned into a few ounces by going with gold instead. When I left my country they where going after people carring too many dollars. The limit was 10.000 USD, maybe less, all I know is that I had way more than that on me at the time and I was swaeting like a pig until I got pass customs. The weight and bulk of the silver I had was an issue to, I remember wishing | had gone for gold instead. FerFAL If you have to grab what you have, carry it with you, of course gold is a more dense storage unit. However, its hard to pay for a taxi with a 1 ounce gold coin (well, its hard to get change back anyway ), etc. Dense storage of wealth it is, but it depends on what your goals are.He mentions speculative, meaning a "just in case" which I suppose most of us do too. I know I do. SHTF and you have something that still has its weight in gold/silver. I didnt worry about it either and only noticed how much of a drag and actual risk it was when caught in the situation. If I had to move back then with the ammount of precious metal I have now it sure would raise a few eyebrows so Im trying to focus more on more compact gold becuase that stockpile of silver gets big pretty fast. Another thing the OP mentions is lack of interest in "numismatic collect ability". Thats a big mistake. Even if youre not interest and never plan on buyign numisamtics you should still know your coins. Lets say youre not interested in this stuff at all and just want to put away a bag of junk sivler, maybe pre65 dimes and quarters. It would be a BIG, BIG mistake to trade away a 1916 D Mercury worth $10.000 or more just becuase oyu couldnt be bothered with knowing the difference. Maybe you dont have a 10k coin, but its almost as bad to throw around a mercury 1921 worth 900 bucks, and there rare coins in most series. I sometimes buy junk silver that has a much higher numismatic value. When the difference is significant, say paying 0.50 cents for a "junk" coin that people are willing to take off your hands for $40 on ebay all day long, I really have no choice but to put it away in an album. FerFAL I don't disagree with what you are saying about gold being dense wealth storage. However, in this case he was looking for silver as a metal as a speculative investment, not a SHTF scenario. Of course, OP could clear this up quick with what he is looking at silver for  |
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I think there are reasons to have both gold and silver. Gold as a compact storage of wealth, silver as "currency" when currency becomes worthless.
I've got a few gold bits and have a few tubes of silver. My wife made out pretty good, she traded a bunch of silver for gold back when silver was near its peak at $48/oz (just below the $50 peak). 
I buy silver when the price drops precipitously because I'm trying to build my stash. One could also make the argument that when silver (or gold for that matter) price drops like a rock it's either because somebody big needs money in a hurry and wants to sell right now, or because someone big is buying down the price via paper/futures because they want to buy more physical metal. Either way, if the price goes down in a hurry, you can expect an increase in the not too distant future. I have a few Silver Eagles but the majority of my silver is Canadian Maple Leafs. Not only are they higher purity (.9999 vs. .999 for Eagles) but they are also a $5cdn coin, so even if the price of silver takes a complete dump, it will always be worth about 5 bux. Bought some via Apmex, bought the rest from my trusty local coin dealer who only works with cash. 
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Cant access it. Guess you have to be a team member. Quoted:
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Here is alot of silver info for you if you haven't looked through this thread... [url= Cant access it. Guess you have to be a team member. You do have to be a member to access it. If you have $3K ready to spend on silver, spend the $24 here first for a membership. I guarantee you the info in that thread will pay dividends over the membership fee if you are about to lay out 3 gs in silver. |
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If it's just for speculation, I wouldn't buy ASEs or MLs or Pandas. I'd go for rounds and get the most bang (ounces) for the bucks. Quoted:
If it's just for speculation, I wouldn't buy ASEs or MLs or Pandas. I'd go for rounds and get the most bang (ounces) for the bucks. You have to be careful with rounds. First so as to avoid counterfit/fakes and then theres the issue of others accepting it whe it comes to sell and trade. If you have a good trusted source, yes, silver is still silver, but even then the issue of others trusting it may be tricky. Quoted:
Be very (very) careful to avoid Chinese counterfeit coins.  Paul, did you end up with some counterfeit coins? What were they? Fake eagles, fake Morgans? DO you have any pictures? I was actually bidding to buy some fakes being sold as real Morgans on ebay. They looked pretty good but a closer look of the pics showed they were most likely fakes. The bidding price was too high, especially for somethign I already knew was 90% fake.
FerFAL |
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Ok, lets clear things up a little.
I am NOT planning on bugging out to the woods with my stash. I live is a metropolitan area, and I am physically disabled. I am somewhat mobile, (good days & bad days) I have a 4x4 (older "mechanical" type....no electronics dependent model stick shift)that has 100 gallons of diesel on board all of the time and a 32' travel trailer ~but~ it is NOT what I'm really looking for. I have a slightly autistic 9 yo daughter and a phobia ridden wife. Seriously.... I'm staying here.
Last resort? Eh....maybe. It's got to be REALLY REALLY REALLY BAD!
I'd like to put my money where I feel it may possibly gain some worth,(at least not LOSE worth...) while the possibility of using it for barter if things should turn that way. I'm 52 and my 401K has been decimated 2X's!  My dr told me 2 years ago I have 10 years max.
I'm on a fixed and very limited income. $3k isnt much to many of you, but it's a metric shit ton to me.
I realize this is NOT a life changing legacy. But I have to do something. 
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You consider 10lbs of silver too heavy to toss in you car, bike, pack...? That's about the size of a couple of AR15 magazines. He's not looking to hide three gold maple leafs up his ass to smuggle them across the border. Quoted:
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If this is the first PM youre buying, make sure its portable, meaning gold. 3K is a lot of silver. 3k worth of silver is HEAVY... FerFAL You consider 10lbs of silver too heavy to toss in you car, bike, pack...? That's about the size of a couple of AR15 magazines. He's not looking to hide three gold maple leafs up his ass to smuggle them across the border. I want to know where you can get 10 pounds of silver for $3000? I'll take about $100,000 worth please. |
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Ok, lets clear things up a little. I am NOT planning on bugging out to the woods with my stash. I live is a metropolitan area, and I am physically disabled. I am somewhat mobile, (good days & bad days) I have a 4x4 (older "mechanical" type....no electronics dependent model stick shift)that has 100 gallons of diesel on board all of the time and a 32' travel trailer ~but~ it is NOT what I'm really looking for. I have a slightly autistic 9 yo daughter and a phobia ridden wife. Seriously.... I'm staying here.
Last resort? Eh....maybe. It's got to be REALLY REALLY REALLY BAD!
I'd like to put my money where I feel it may possibly gain some worth,(at least not LOSE worth...) while the possibility of using it for barter if things should turn that way. I'm 52 and my 401K has been decimated 2X's! My dr told me 2 years ago I have 10 years max.
I'm on a fixed and very limited income. $3x isnt much to many of you, but it's a metric shit ton to me.
I realize this is NOT a life changing legacy. But I have to do something.
If 3k is serious money given your economic context (and Im not saying 3 grand isnt a lot of money, it is) then maybe you shouldnt be putting it all into PM. How much savings do you have in the bank? how much cash do you have at home? (In my experience it should be a month work of expenses, mimimum) Do you have other investments? Real estate? Im a firm believer in precious metals but you still have to keep in mind the context and other financial preps. FerFAL |
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I want to know where you can get 10 pounds of silver for $3000? I'll take about $100,000 worth please. Well, let's see. One pound is sixteen ounces. Ten pounds is one hundred sixty ounces. One hundred sixty ounces is one hundred forty-five ounces Troy(145.8333333... but they don't sell it in a 0.8333333... denomination so well just use 145). Twenty-nine Sunshine Mint five ounce bars is one hundred forty-five ounces Troy but let's just go ahead and round up to one hundred fifty ounces Troy for shits and grins. 5 oz Sunshine Silver Bars (New) IN STOCK - In Our Vaults & Ready to Ship. $99.05 Quantity 30 $2,971.50 Current Shipping Method UPS Next Day Air Subtotal: $2,971.50 Shipping: $12.95 Total: $2,984.45 So there you go, ten pounds four and a half ounces of 0.999 certified fine silver delivered next day air for $2,984.45 as of this moment. Three months ago you could have gotten it for under $2700 delivered and a little before that for under $2500 delivered. Let us know when you place your $100,000 order this afternoon. |
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Well, let's see. One pound is sixteen ounces. Ten pounds is one hundred sixty ounces. One hundred sixty ounces is one hundred forty-five ounces Troy(145.8333333... but they don't sell it in a 0.8333333... denomination so well just use 145). Twenty-nine Sunshine Mint five ounce bars is one hundred forty-five ounces Troy but let's just go ahead and round up to one hundred fifty ounces Troy for shits and grins. 5 oz Sunshine Silver Bars (New) IN STOCK - In Our Vaults & Ready to Ship. $99.05 Quantity 30 $2,971.50 Current Shipping Method UPS Next Day Air Subtotal: $2,971.50 Shipping: $12.95 Total: $2,984.45 So there you go, ten pounds four and a half ounces of 0.999 certified fine silver delivered next day air for $2,984.45 as of this moment. Three months ago you could have gotten it for under $2700 delivered and a little before that for under $2500 delivered. Let us know when you place your $100,000 order this afternoon. Quoted:
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I want to know where you can get 10 pounds of silver for $3000? I'll take about $100,000 worth please. Well, let's see. One pound is sixteen ounces. Ten pounds is one hundred sixty ounces. One hundred sixty ounces is one hundred forty-five ounces Troy(145.8333333... but they don't sell it in a 0.8333333... denomination so well just use 145). Twenty-nine Sunshine Mint five ounce bars is one hundred forty-five ounces Troy but let's just go ahead and round up to one hundred fifty ounces Troy for shits and grins. 5 oz Sunshine Silver Bars (New) IN STOCK - In Our Vaults & Ready to Ship. $99.05 Quantity 30 $2,971.50 Current Shipping Method UPS Next Day Air Subtotal: $2,971.50 Shipping: $12.95 Total: $2,984.45 So there you go, ten pounds four and a half ounces of 0.999 certified fine silver delivered next day air for $2,984.45 as of this moment. Three months ago you could have gotten it for under $2700 delivered and a little before that for under $2500 delivered. Let us know when you place your $100,000 order this afternoon. My bad. I thought it was much more expensive than that. 
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Quoted: Ok, lets clear things up a little. I am NOT planning on bugging out to the woods with my stash. I live is a metropolitan area, and I am physically disabled. I am somewhat mobile, (good days & bad days) I have a 4x4 (older "mechanical" type....no electronics dependent model stick shift)that has 100 gallons of diesel on board all of the time and a 32' travel trailer ~but~ it is NOT what I'm really looking for. I have a slightly autistic 9 yo daughter and a phobia ridden wife. Seriously.... I'm staying here. Last resort? Eh....maybe. It's got to be REALLY REALLY REALLY BAD! I'd like to put my money where I feel it may possibly gain some worth,(at least not LOSE worth...) while the possibility of using it for barter if things should turn that way. I'm 52 and my 401K has been decimated 2X's! My dr told me 2 years ago I have 10 years max.I'm on a fixed and very limited income. $3k isnt much to many of you, but it's a metric shit ton to me. I realize this is NOT a life changing legacy. But I have to do something. PM prices can vary a lot and then there are fees to buy and sell. I keep a small percentage in physical silver because I like it and it's a hedge. Look at long term charts on silver. It could easily go below $10 an oz and stay there for years. |
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Ok, lets clear things up a little. I am NOT planning on bugging out to the woods with my stash. I live is a metropolitan area, and I am physically disabled. I am somewhat mobile, (good days & bad days) I have a 4x4 (older "mechanical" type....no electronics dependent model stick shift)that has 100 gallons of diesel on board all of the time and a 32' travel trailer ~but~ it is NOT what I'm really looking for. I have a slightly autistic 9 yo daughter and a phobia ridden wife. Seriously.... I'm staying here.
Last resort? Eh....maybe. It's got to be REALLY REALLY REALLY BAD!
I'd like to put my money where I feel it may possibly gain some worth,(at least not LOSE worth...) while the possibility of using it for barter if things should turn that way. I'm 52 and my 401K has been decimated 2X's! My dr told me 2 years ago I have 10 years max.
I'm on a fixed and very limited income. $3k isnt much to many of you, but it's a metric shit ton to me.
I realize this is NOT a life changing legacy. But I have to do something.
You should not put "a metric shit ton" of your assets into PM, whatever that is to you. You are going to buy above spot and likely sell below spot, and you won't recoup taxes or shipping. Even if you buy from JM (which is great) and pay no shipping or tax, you'll still probably start 5% in the hole (i.e. if you want to sell it the next day after it arrives, you'll be down 5%). And if your wife or kid are not savvy about selling, they may do worse. Just my $0.02. ETA: By way of example, if you were selling gold Eagles to Apmex, they'll pay $1,334 now when they are selling them for $1,384, or $53 less, which is a 3.8% loss (not counting shipping, etc.) But that is if you're selling $10,000 at a time, you get even less for smaller lots. If I were you, I'd find a local place that buys and figure out what your real spread might look like when you sell. |
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ETA: By way of example, if you were selling gold Eagles to Apmex, they'll pay $1,334 now when they are selling them for $1,384, or $53 less, which is a 3.8% loss (not counting shipping, etc.) But that is if you're selling $10,000 at a time, you get even less for smaller lots. If I were you, I'd find a local place that buys and figure out what your real spread might look like when you sell. That is only if one was foolhardy to sell it before it appreciated in price. |
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That is only if one was foolhardy to sell it before it appreciated in price. Quoted:
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ETA: By way of example, if you were selling gold Eagles to Apmex, they'll pay $1,334 now when they are selling them for $1,384, or $53 less, which is a 3.8% loss (not counting shipping, etc.) But that is if you're selling $10,000 at a time, you get even less for smaller lots. If I were you, I'd find a local place that buys and figure out what your real spread might look like when you sell. That is only if one was foolhardy to sell it before it appreciated in price. Right, but not everyone gets to choose when they need to sell, and as we all know, prices go both up and down. We only hear about people who bought at $5/oz, but lots of people bought at $45, $35 and $25 too. |
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Not sure if this belongs here, but I didnt find an more appropriate place. I have about $3K I'd like to buy some physical silver with for speculative purposes. I cant care less about numismatic collect ability. I'd prefer smaller pieces so that it may be usable for barter if needed, but wouldn't rule out a larger chunk if the price were right. Does anyone have experience in this? Have any good places to purchase? Advice etc? TIA Check out providentmetals.com great customer service, free shipping, consistently better pricing than most of the ones mentioned on both the buying and selling end. Compare and see. |
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Right, but not everyone gets to choose when they need to sell, and as we all know, prices go both up and down. We only hear about people who bought at $5/oz, but lots of people bought at $45, $35 and $25 too. Ayup. The trick is to budget that which is unnecessary for reserves or monthly expenses. That goes into shiny stuff (or the other 2 B's) and stays there so as to dollar cost average it out. |
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Dont like talking much about personal stuff on the intrawebz. Even here.
I have maybe 30-40K in savings. 30K-40 in the 401K (I try not to look at it too much, was MUCH more) House is payed for. Worth? IDK.....150-175 in the current market. Maybe a little more. My vehicle is worth nothing to anyone else but me. 1998 pickup. I'd never sell it for this, but 4-5K? Camper, another 3-4K Wife's ride is a 2012 minivan......IDK, 8 or 10K Couple really nice boomsticks, mostly $ 5-700 guns. Total? IDK 17K maybe? with all accessories? A few have really nice glass etc Other hobby items. 2K? Maybe there's something better for my situation. |
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Dont like talking much about personal stuff on the intrawebz. Even here.
I have maybe 30-40K in savings. 30K-40 in the 401K (I try not to look at it too much, was MUCH more) House is payed for. Worth? IDK.....150-175 in the current market. Maybe a little more. My vehicle is worth nothing to anyone else but me. 1998 pickup. I'd never sell it for this, but 4-5K? Camper, another 3-4K Wife's ride is a 2012 minivan......IDK, 8 or 10K Couple really nice boomsticks, mostly $ 5-700 guns. Total? IDK 17K maybe? with all accessories? A few have really nice glass etc Other hobby items. 2K? Maybe there's something better for my situation. You are doing better than.... just about everyone
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Maybe I'm missing something here and I would be happy for some of you to explain it to me.
Are you buying these "rounds" and ingots to protect your wealth with the intent of selling it for cash when things settle down after a collapse? Or are you planning on spending these items on goods in times that cash is useless? If your plan is to buy stuff with it in a collapse of currency, what makes you believe that the average schmuck will know what you ingot or round is worth with all of those symbols and numbers on it vs the old US silver coins pre 65? Trust will be a very scarce commodity and I know that I wont accept any token that I don't recognize as a valid currency. This isn't to poo poo your plan or choice of investment, not in any way. I'm posting this as a sincere question. |
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Food & water are #1. You can have ALL the gold in the world and still starve to death. PMs are for preserving wealth and if used wisely, for growing wealth. Quoted:
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Maybe there's something better for my situation. Food & water are #1. You can have ALL the gold in the world and still starve to death. PMs are for preserving wealth and if used wisely, for growing wealth. Actually thats a good point. Hows your prep situation in that regard? Food? Water stored? A water filter? serviced vehicles? FerFAL |
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Pangea - I anticipate a new monetary system. What form I don't know as it depends on this: If the people wake up and realize how they have had their "wealth" taken from them (inflation is a hidden form of taxation) and reject the solution offered by those who created the problem, then we can follow the path of Iceland and being a slow recovery. If the people accept the solution offered by those who created the problem, then we plunge our children's future into slavery and accept the rebirth of feudalism.
There will come a point when you exchange your shiny stuff for new "currency" but be warned, Germany did that twice during Weimar. Anyone who cashed in too early lost out too when that new currency was ultimately rejected. |
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Pangea - I anticipate a new monetary system. What form I don't know as it depends on this: If the people wake up and realize how they have had their "wealth" taken from them (inflation is a hidden form of taxation) and reject the solution offered by those who created the problem, then we can follow the path of Iceland and being a slow recovery. If the people accept the solution offered by those who created the problem, then we plunge our children's future into slavery and accept the rebirth of feudalism. There will come a point when you exchange your shiny stuff for new "currency" but be warned, Germany did that twice during Weimar. Anyone who cashed in too early lost out too when that new currency was ultimately rejected. You see, this is exactly what I was just talking about with my wife. The "when" to sell your PMs for the new currency. If you sell 1oz of silver for 10,000 units of the new money and it takes off you will have made a killing if PMs go back down to $10 per oz. On the other hand, if the new currency flops you will be out of luck. I think I would hedge my bets and only part with a modest percent of my PMs and risk losing out on some profit vs rolling the dice and selling it all. Personally, I like the junk silver US coins. It is familiar to almost everyone and less likely to be forged. How would you check the rounds and ingots for authenticity and purity? Is there an easy way? |
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How to check?
Ring test. Tap two silver coins together and listen to the ring. It's long and fades slowly. Now tape a cupro-clad coin. Notice the difference? Weight. Use a scale and a micrometer/caliper (machinists use micrometers to measure flat objects and calipers round objects). We know a silver round is supposed to be a certain size. Weigh it first. Then measure the diameter and thickness and compare that against a ASE or Maple Leaf. |
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This is a really interesting thread, I am in a similar situation but at a much larger scale. Everything is paid off, have everything we would need should the balloon go up. I have just never seen a time like we are in, investment wise it's a hard nut to crack on what to do with your cash. It could be worthless next week. Other than buying tangible goods, I don't know what to do with our savings. I certainly don't want to lose all the money we have saved up over the last 20 years.
Great post OP. |
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Here is alot of silver info for you if you haven't looked through this thread... http://www.ar15.com/forums/t_1_75/1764323_Pike_s_Silver_Thread.html Good thread, thanks for the link I was buying AEs I might start going towards bullion rounds. |
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zukguy - I'm no financial adviser, but some books I've read recommend in common PMs, income producing land (rent or farm), or fine art. Those three tend to hold their value. You and your wife should sit down together and watch this series of free videos. Here's the first installment:
https://goldsilver.com/hidden-secrets/episode-1/ |
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I personally was in the same spot and grabbed $1k in junk silver (pre 65 change) and also got some CombiBar. Pay a little extra but what you describe it may be right for you. I use Apmex and also watch the precious medal section in the EE. And how many people know the difference in value between pre 65 coins and post 65 coins? If it was me I'd invest in US or Canadian +99% silver bullion coins that are so obviously silver that even the dummies will know they are valuable. |