School me on buying gold & silver

[ARCHIVED THREAD] - School me on buying gold & silver

Posted: 12/19/2016 9:33:58 PM EDT

No, I am not William DeVane. But I have thought about buying some silver and gold to put in the safe. I know little. I know what melt value is. I know purity. I've been collecting coins that are valuable, and have a few, but wanted to branch out. My real ignorance lies in where to buy. I bought a couple of grams of silver on eBay for $1.73/g. I know that's too much. So where do I buy? Can I expect to be able to buy at or below melt price? Should I save up and buy larger bars or it it a good idea to have mostly smaller stuff? I know little,is there something in the archives? I am tempted to buy some gold, but don't want to take the risk on the larger purchase. A $1.73 purchase isn't much risk

Posted: 12/19/2016 9:36:46 PM EDT

[#1]

Buy low sell high - good luck

JMBullion is the first that comes to mind. AMPEX is another reputable dealer.

Posted: 12/19/2016 9:39:24 PM EDT

[#2]

I don't know if you can get here without a membership.

Pike's Silver Thread

If not, is is well worth the price. Read through it and most of your questions will be answered.

Good luck and have fun. Buy what you like.

Posted: 12/19/2016 9:39:58 PM EDT

[#3]

Buy a team membership and check out the thread in Team.

That alone is worth the $24.

ETA: What that guy ^ said.

Posted: 12/19/2016 9:43:04 PM EDT

[#4]

My crystal ball says gold and silver will drop for the foreseeable future, and buying right now isn't the best idea.

Posted: 12/19/2016 9:44:21 PM EDT

[#5]

Get APMEX eBay emails. Their sales can come pretty close to spot, but you should probably buy 10 to 20 1oz bars or coins at a time to cut costs.

Posted: 12/19/2016 9:48:26 PM EDT

[#6]

Quote History

Quoted:
My crystal ball says gold and silver will drop for the foreseeable future, and buying right now isn't the best idea.

View Quote

My crystal ball told me to buy some more when spot hit 17.00. You would think it hates me.

Posted: 12/19/2016 9:59:32 PM EDT

[#7]

Quote History

Quoted:
Buy low sell high - good luck

JMBullion is the first that comes to mind. AMPEX is another reputable dealer.

View Quote

Have bought quite a bit from JMBullion b/c it seems to be consistently (slightly) cheaper lately than AMPEX (which is also very reputable). JMBullion has new deals every Monday.

Posted: 12/19/2016 10:04:38 PM EDT

[#8]

It is at least somewhat a function of why you are buying it; it sounds like you'd like to have a physical, tangible vehicle with which to trade should something "bad" happen. If that is the case, consider purchasing bags of 90% ("junk") silver (U.S.) coins. They have the advantage of never being worth less than face value and come in small ($0.10 and $0.25), easily exchanged denominations...especially if the SHTF and metals prices soar.

The other option would be silver and gold coins like the Maple Leaf.

It has been so long since I've traded metals in any form (other than ETFs which hold physical and stocks of miners/streamers) that I can't recommend a metals broker. I used to use Monex but that was decades ago.

Posted: 12/19/2016 10:06:42 PM EDT

[#9]

You don't want to buy in small quantities like that, you pay a way higher premium. You just paid the equivalent of $55 per ounce, when spot is more like $16/oz. You also want to avoid paying shipping and tax if it applies in your state. I wouldn't buy smaller than 1 oz silver rounds. Apmex and JM Bullion are good to buy from, and JM has free shipping.

Posted: 12/19/2016 10:08:37 PM EDT

[#10]

isnt the Fed going to increase rates further in 2017?

wont that drive gold prices further down?

Posted: 12/19/2016 10:11:07 PM EDT

[#11]

The dealer's markup on small retail purchases of precious metals will kill you. Buy BIG or just buy firearms and ammo, or a low-fee stock index fund.

Posted: 12/19/2016 10:13:14 PM EDT

[#12]

The absolute best time to buy gold and silver was 1988 to 2002.

Can't help ya' today.

Sorry.

Posted: 12/19/2016 10:30:05 PM EDT

[#13]

Provident Metals is also a good place to buy at times but you need to check price at more than on dealer.

Posted: 12/19/2016 10:34:39 PM EDT

[#14]

Check the back inside page of The American Rifleman, they is always an ad for gold and silver coins there a few dollars over spot price.

Posted: 12/19/2016 11:59:08 PM EDT

[#15]

Quote History

Quoted:
My crystal ball says gold and silver will drop for the foreseeable future, and buying right now isn't the best idea.

View Quote

Under Trump, the stock market and eventually bonds are going to do so well they are going to suck all the capital out of the markets.

"All aboard!!!"

[ARCHIVED THREAD] - School me on buying gold & silver

General » General Discussion

Win a FREE Membership!

Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!

You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.

Warning

Confirm Action

About AR15.COM

Stay Connected

Newsletter

Contact Us