Anyone Buying Silver?

[toorude89]

I have been having trouble finding silver lately. Anyone out there buying while the price is under $29? If so what, where, how much? My local coin shop just closed up. Told me when I called to see if I could trade 40% for silver quarters.

 

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[CoinFetcher]

The coins shops are treating me right during this slump. Eagles are around 31-34, and generics are 30.

 

[OtlFrutiger]

Buy, buy, buy! I have been getting everything I can get my hands on lately as long as I can spare the cash. By the way, if you are buying now, the best bang for your buck is junk silver coins. When it comes time to sell, you are usually paid per coin—not by weight. Your percentage of what you are getting vs. what you are paying is better on junk silver coins. Therefore, your return should also be better when you go to sell. I know the Eagles and even the Morgans and Peace dollars look and feel cool to hold in your hand; but, for the most part, you are paying some kind of premium for those coins that you will never recoup when it comes time to sell. Buy halves, quarters, and dimes, the more worn and ugly, the better. This way you are primarily only paying for the silver value (assuming your coin shop owner is a straight shooter). I know it's not as much fun; but, when you are rich someday, you can have lots of other kinds of fun. :-)

 

[Generic_Lad]

Yep, I've been buying some here and there although lately things are priced at nearly 33/tOZ at my local coin shops. So lately I've been buying silver jewellery at various places close to spot (and considering selling some of the better pieces on eBay for a profit)

 

[Digesting a common clad]

Not physical.

 

[Bad Wolf]

Mental.

 

[fistfulladirt]

I can't find any local. I have been buying from the houses online, but it's 3+ weeks to wait, and by the time I get the goods, silver is down $2. It's weird that the demand is there, but the price keeps dropping.
I did read this today.
Silver
Prices Defy the "Law of Supply and Demand"

 

[OtlFrutiger]

I can't find any local. I have been buying from the houses online, but it's 3+ weeks to wait, and by the time I get the goods, silver is down $2. It's weird that the demand is there, but the price keeps dropping.
I did read this today.
Silver
Prices Defy the "Law of Supply and Demand"

Great article! I've always firmly believed in buying physical silver. If I can hold it my hand, then I really own it.

 

[Walla183]

My LCS has his prices set as if silver was $50 an oz. ASE's at $55, Merc Dimes $4 each, what he deems junk 90% halves at $13 each.

Craigslist has roughly 20 ads a day looking for silver. The one seller I found was asking $15 each per 90%. Good luck if you can find deals.

 

[OtlFrutiger]

My LCS has his prices set as if silver was $50 an oz. ASE's at $55, Merc Dimes $4 each, what he deems junk 90% halves at $13 each.

Craigslist has roughly 20 ads a day looking for silver. The one seller I found was asking $15 each per 90%. Good luck if you can find deals.

Sounds like it's time to shop around. My LCS is high, but the one about 12 miles away is much better. For example, just today I bought some Franklin halves $11.50 each. The Eagles were listed as $35, and the junk Morgans were $30. Hell, this place is so cool on pricing, they will trade me two rolls of wheat pennies for a silver dime!

 

[fistfulladirt]

The ASE's at the local monthly show in my hometown last weekend were $32.50 (or less depending on how well you dicker @ qty. 20/roll). Cull silver dollars still $30. I just bought 20/1 oz. Silvertowne bars at a $1 premium online.

 

[maverick]

I've been picking up Quarters here for a little while now, I've been buying at least 2-4 every week from my LCS, they are the only thing I can't find in the wild so I buy them when I find them. HH, Maverick.

 

[maverick]

Mental.

LMAO, ZIng!

 

[BuffaloBoy]

My LCS is a rip off, ASE's cash only at $49.99+tax each... though they do have 1/10 oz AGE's for $199.99+tax, not sure if paying $2,000 an ounce of gold is a large premium or not...
hh

 

[FormerTeller]

I can't find any local. I have been buying from the houses online, but it's 3+ weeks to wait, and by the time I get the goods, silver is down $2.

Not sure I understand your concern. Had you bought locally for the same price, 3 weeks later the price would still be down $2, and I assume you wouldn't have sold at a loss regardless. Personally, I don't see the difference whether I physically have possession immediately or 3+ weeks later, as long as I'm satisfied with the price when I buy it...

 

[FormerTeller]

Buy, buy, buy! I have been getting everything I can get my hands on lately as long as I can spare the cash. By the way, if you are buying now, the best bang for your buck is junk silver coins. When it comes time to sell, you are usually paid per coin—not by weight. Your percentage of what you are getting vs. what you are paying is better on junk silver coins. Therefore, your return should also be better when you go to sell. I know the Eagles and even the Morgans and Peace dollars look and feel cool to hold in your hand; but, for the most part, you are paying some kind of premium for those coins that you will never recoup when it comes time to sell.

Stupid question time: So I assume that if I can buy Morgan and Peace dollars for spot, I should jump on it?

 

[fistfulladirt]

Not sure I understand your concern. Had you bought locally for the same price, 3 weeks later the price would still be down $2, and I assume you wouldn't have sold at a loss regardless. Personally, I don't see the difference whether I physically have possession immediately or 3+ weeks later, as long as I'm satisfied with the price when I buy it...

Your logic makes sense.

 

[skeeterd]

I noticed premiums are still high. Including ebay. I did get 2 rolls of war nickels for $129.00 including shipping. But I'm gonna save the rest of my silver money till it drops a little more. If it goes up, I think premiums will drop and I can still get a good deal online somewhere.
On a side note, does anybody buy silver nickels as part of their silver investment, stash, hoard or whatever you wanna call it? Why or why not?

 

[foofighters]

Stupid question time: So I assume that if I can buy Morgan and Peace dollars for spot, I should jump on it?

If you can get peace and morgans for spot its a good deal.

Especially if they are not culls.

I dont have a LCS within an hour. I've been picking up some silver quarters lately.

Next week I'm going to the closest town with a LCS and I plan to pick up some eagles.

I think silver is going lower though. I think its going to test the support at 26.xx,

 

[fistfulladirt]

On a side note, does anybody buy silver nickels as part of their silver investment, stash, hoard or whatever you wanna call it? Why or why not?

I'm making an offer on a small collection of silver dollars, dimes, and war nickels. I'm going to offer $1 ea. on the nickels, approx 60, mainly because I don't have many and I think they are collectible.