Thinking of investing in gold/silver, good idea or bad right now? Where to buy

[cam9457]

With everything thats going on in the market/economy right now I'm thinking about buying a small amount of gold or silver. I've got a few questions I would really like to hear some different opinions about though. I would like to buy small denomination stuff that is very liquidible like silver rounds or 1/10 gold coins. My questions are these, is now a good time to buy? Are precious metals likely to make a nice recovery in your opinion? Are prices a little high right now with people withdrawing from the stock market and looking for good old standbys like gold and silver and after the market recovers the price will go down? I guess finally are there any reputable gold/silver buying sites you might recommend? Thanks for any help in advance!

 

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[Bean]

I think anytime is a good time to buy silver and/or gold.
They tend to follow inflation pretty well and with the bailout bill being passed that is sure to happen.
One thing you have to ask yourself is are you looking to buy them as a hedge for inflation? (long term)
Or hoping you could make some money in the short term by selling them when the price takes off. (short term)
But really I think now is a good time to get on board while the price is low. But be prepared to pay a premium on the
physical metal as is seems to be in hard to get in some places.
Also APMEX.COM is a great place to buy, but they tend to run out of stock on a few things pretty quick, so check
there website often and you'll get it.

Bean

 

[cam9457]

Thanks Bean, I will check out their sight. I like the long term benefits but also like to be able to sell short term if the price is right

 

[nyiangelo]

i just picked up 2 100 oz bars today at northwest mint. cost me $1303 a piece which isnt bad when you consider what the price can go up to again or at least thats my plan. keep one for looks and sell the other one to make a little money is the plan. but who knows. but the wait on recieving them is 3 months!! but at least they have em,,, so we'll see i guess who else is buyin right now?

 

[nyiangelo]

well looks like i was a day to soon. but oh well im not worried...

 

[cam9457]

Wonder where it will be tomorrow......

 

[jsu]

Right now it is looking pretty good $9.67 spot. I bought alot of silver about a year ago when it was around 10.50 a oz. Sold it a couple months ago when it was $20 a oz. You do not have to buy huge amounts. You can always buy 1oz silver rounds.

 

[cam9457]

It is really tempting jsu, I'm just waiting to see if it goes lower?

 

[The.Boomer]

Right now it is looking pretty good $9.67 spot. I bought alot of silver about a year ago when it was around 10.50 a oz. Sold it a couple months ago when it was $20 a oz. You do not have to buy huge amounts. You can always buy 1oz silver rounds.

Where can you buy 1 oz silver rounds ?

 

[Bean]

Apmex.com has 1 oz. silver rounds for sale right now but there is a slight delay on shipping. (oct. 30 ship date)
Still about $4 above spot but alot of sites that are cheaper have a min. order of like 500 oz. (tulving.com)
Apmex has a min. order of $50.
I would not wait for the price to drop any lower, just buy what you can, where you can and you won't disappointed.
I buy for the long term so unless something happens and I need the extra cash, I'll be buying at $5 per oz. or $50 per oz.

Bean

 

[jsu]

Right now it is looking pretty good $9.67 spot. I bought alot of silver about a year ago when it was around 10.50 a oz. Sold it a couple months ago when it was $20 a oz. You do not have to buy huge amounts. You can always buy 1oz silver rounds.

Where can you buy 1 oz silver rounds ?

Sometimes you can find them cheap at flea markets. I bought ten from a guy for spot. I also buy common date silver dollars, they are a little over 3/4 oz. They seem to run a couple of dollars over spot but that is because they are a coin and carry a numismatic premium over regular bullion. There is also a ton of 1oz rounds on ebay. Sometimes you can get them for spot especially if they have artwork on them that is not desirable.