Apmex J Mattheys Scottsdale bars ?????

[A2coins]

I buy these bars off and on just a few ounces at a time hoping in 20 years they will be worth something for my Daughters. If just the same value fine if more even better,. I dont buy huge amounts just a few bars here and there for the last few years Question why do 1 oz silver bars cost more than spot I know shipping costs which isnt much. Is it the reputation of the Company they are easier to liquidate serial numbers or ? I always felt safer buying from these companies even though Im paying more. Anyone else buy these or do you think its wasting money ? Do most of you just invest in 90 percent coins ? Any thoughts on this Im not wealthy just want to invest a little here and there and hope it will help them later on. Thanks Tommy

 

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[FormerTeller]

If you’re buying from the manufacturer, they cost more than spot because of the time and labor it takes to actually pour and form the bars, then ship them. Their costs associated with making it. Perfectly reasonable IMO.

I don’t often buy silver bars or rounds. Only if it’s got a design I like AND I can get it for spot, or preferably less. I picked up some country musician rounds, with with Willie Nelson, Merle Haggard, Waylon Jennings, etc. on them that I like.For “investment“, mostly I buy 90% at my LCS, and even then I try to buy in as good condition as possible.

 

[ArkieBassMan]

They cost more because of simple supply and demand. APMEX is in business to make money. They typically buy silver below spot and resell it for more than spot. Just like what you have been doing, people are willing to pay above spot to reputable sellers for convenience and to be confident they aren't buying counterfeit goods.

Also, silver rounds/bars typically carry no "collector" value...meaning that in the future they will be worth what the silver is worth.

 

[A2coins]

Thanks so It seems buying 90 percent coins is the best option price wise if I get them for spot or lower
I appreciate the advice. Tommy

 

[FormerTeller]

Or for face value... [emoji3]

 

[Johncoho]

I think I would stick to the 90 percent coins, Tommy. Probably the best overall deal.

 

[A2coins]

2 Daughters in collage cant afford to buy coin boxes to search even though I would love to... Where can you buy 90 percent silver coins where the price isnt as high as these silver bars. I looked on ebay going for alot more than melt for scrap coins or just scrap silver.. Any suggestions Seems to be about even as far as the percent more you pay for 1 oz bar and 1 oz scrap . The bar being 99.9 silver. Where do you get 90 percent silver for melt is the LCS the best as FormerTeller gets his do you just pay melt or sre they marked up 10 percent or so ?? Thanks in advance Tommy

 

[ArkieBassMan]

2 Daughters in collage cant afford to buy coin boxes to search even though I would love to... Where can you buy 90 percent silver coins where the price isnt as high as these silver bars. I looked on ebay going for alot more than melt for scrap coins or just scrap silver.. Any suggestions Seems to be about even as far as the percent more you pay for 1 oz bar and 1 oz scrap . The bar being 99.9 silver. Where do you get 90 percent silver for melt is the LCS the best as FormerTeller gets his do you just pay melt or sre they marked up 10 percent or so ?? Thanks in advance Tommy

You have just learned how its hard to make any money trading precious metals unless there is a big jump in price. You typically have to pay 110%+ of spot to buy and net less than 90-100% when you sell. You often need a 20%+ price jump just to break even.

There is no place that I know of to consistently buy silver below melt. About the only way you'll ever find any junk silver below melt is to just stumble across a deal - i.e. an individual that has a collection to sell, and is willing to take a little less than spot for immediate cash. You just have to "keep your ears open" and hope for the best. If you have a local newspaper or circular that allows frees classified ads, put in an ad stating that you pay 10x face (or whatever amount you choose) for 90% silver. You could do the same on Craigslist. Might or might not work, but its free. ALWAYS meet at a very public place to do this, like the lobby at your bank. Some police stations encourage these type transactions happen in their parking lot

If you want to add silver on a regular, consistent basis, you'll most likely just have to pay the premiums. I haven't stumbled across a deal in years.

 

[Doug H]

I love apmex tommy. I bought a bunch of silver when it was 15 an ounce. At nearly 20 an ounce I think I've made a little money. At least I hope so. But regardless, they seem to be a trustworthy company and their customer service has always been top notch when I've dealt with them.

 

[Avago]

A2 - I can guarantee you that you will have a near-impossible time finding a "good deal" on eBay on anything, mainly because the sellers are charged around 13% of the sell price by eBay so they pass that cost along to you as a markup.

I have had success at local coin shops, both with 90% and .999 pure, but definitely shop around and see who is offering the best price. As with just about anything, in general the more you buy in bulk the lower price they can give you.

I've been buying pretty consistently from my one LCS who I found to be a fair, honest guy for under melt (I also met some unfair, not-so-honest guys before him.) LCS are about volume, they don't want to be sitting on a big pile of silver because there is no certainty where the price will move tomorrow. They want to buy it and sell it as FAST as possible, make their buck and move on. If he doesn't sell it in-store he will likely sell it to a refiner, often for under melt anyway.

You can also find decent deals through individuals selling their collections, i.e. third party. You can find them on Craigslist, Facebook marketplace, word of mouth, etc. You can offer to pay them more than what they would get if they sold to a pawn shop or LCS, and come out ahead of eBay easily. Of course with two strangers meeting to make an exchange of large value safety/security with private party sales is always a concern. If you go that route, make sure to meet in a public place (in a coffee shop, grocery store, or even police station lobby.)

Good luck!

 

[LooseChange]

Right now, you can get a GREAT deal on physical silver if you hold physical gold in any form. The ratio is over 80:1.

If you have scrap gold jewelry (old class ring, gold chains you never wear, gaudy earrings, etc) find a LCS that also buys scrap gold. Trade your 10k, 14k, 20k, 22k gold for 90% coin or fine silver.

Even if you hold fine gold, you should consider trading it for silver at this ratio.

 

[Owassokie]

2 Daughters in collage cant afford to buy coin boxes to search even though I would love to... Where can you buy 90 percent silver coins where the price isnt as high as these silver bars. I looked on ebay going for alot more than melt for scrap coins or just scrap silver.. Any suggestions Seems to be about even as far as the percent more you pay for 1 oz bar and 1 oz scrap . The bar being 99.9 silver. Where do you get 90 percent silver for melt is the LCS the best as FormerTeller gets his do you just pay melt or sre they marked up 10 percent or so ?? Thanks in advance Tommy

A2, Ultimately, you hope to make local contacts and look for opportunity to get better prices but my suggestion is to buy from these pier to pier groups, such as TN Charter. There are other forums where you can buy/sell/trade, such as bullion stacker. This basically cuts the middle man out. It's hard for some to get used to the idea of sending a stranger money before you receive the product (this will be a requirement for you as the "new" guy) but you can do your research. There are individuals that have been selling online for years...you can read the hundreds of reviews... read old posts to see how they conduct business. This will give you peace of mind.

OO

 

[fistfulladirt]

Silver coins although I’m a fan, are not good investments. Well, Im watching my 401K which is up sometimes several grand a week...anyways, I’ve been in the silver game for over 40 years. I’ve bought and sold at times, but don’t consider a stack a money maker, a couple bucks up and down aren’t a concern to me. My stuff will be passed on to family, my plan.

Tommy nothing wrong with holding a little bit of everything.

 

[A2coins]

Thanks for all the amazing replies. I usually just buy a couple apmex or j mattheus over the years I always felt safe with a big company well known and 99.9 Thanks again I really appreciate everyone's advice
I'm doing this for my Daughters both in College the books are needed to be bought new every year it's a racket I dont make alot of money and dont let them carry my financial burdens I have about 200 bars not a lot but I feel its something for 10 years from now doesn't cost a lot adds up quick and it's not cash which can be tempting to grab more easily lol. I wish I could have talked my parents into a 1970 convertible Hemi cuda for 5000 off the showroom floor in 1970 of course I would only have been 4 lol Tommy happy CRH to everyone and good luck

 

[jrf30]

I like APMEX for bars and moreso Eagles. Although lately I've been buying 90% instead, and I do NOT like Apmex for that. The stuff they have sent out to me is too beat up. They send lots of "slicks". Plus they cost more than spot.

I have found numerous sources on Craigslist that sell for spot, and I get to see the coins before i hand over the money. Hey, I'm not looking for rare coins. Just normal coins with dates on them. I'm a big fan of craigs list though, as I get better quality stuff for a cheaper price. granted, some days they have nothing, and i have to wait until someone posts about selling, but some of those sources are good to buy from over and over again.

 

[fistfulladirt]

I like APMEX for bars and moreso Eagles. Although lately I've been buying 90% instead, and I do NOT like Apmex for that. The stuff they have sent out to me is too beat up. They send lots of "slicks". Plus they cost more than spot.

I have found numerous sources on Craigslist that sell for spot, and I get to see the coins before i hand over the money. Hey, I'm not looking for rare coins. Just normal coins with dates on them. I'm a big fan of craigs list though, as I get better quality stuff for a cheaper price. granted, some days they have nothing, and i have to wait until someone posts about selling, but some of those sources are good to buy from over and over again.

jrf30, are you advertising your buy? Just curious because I’m the only one on Craigslist here for ten years that has sold under spot. Everyone else selling asks 30-50% over. I’ve never seen any reasonable ads.

 

[A2coins]

jrf30, are you advertising your buy? Just curious because I’m the only one on Craigslist here for ten years that has sold under spot. Everyone else selling asks 30-50% over. I’ve never seen any reasonable ads.

Do you still sell for under spot or at spot.

 

[fistfulladirt]

Do you still sell for under spot or at spot.

The only coins I ever sold below spot were less desirable 40% silver Kennedy halves. We used to spend ‘em.

 

[Owassokie]

I don't buy from Apmex just because they are here in Oklahoma...cost me state tax.

 

[smokeythecat]

I don't hold coins, silver, gold anything like that. I've been downsizing for year now. It really shows around here. Anyway, the only silver I buy is from the bank, and the gold I find, although I have purchased a couple really old US gold coins over the years because I just wanted one (then sold it when I got bored.)

The silvers I have had were gotten for face at banks. I normally then want to go on a trip or such and sell them to pay for it. I don't make a good stacker!