Buying silver bullion?

[treasurefiend]

I am looking to start buying like 10oz a month starting in January. I'm looking at what is the cheaper buy - coins or 10oz bars. So far it looks to be cheaper to buy coins. But I also found "Silver Grain/Shot .999+ Fine - (10 oz packages)" from http://www.apmex.com/Category/754/Silver_Bars__Rounds_Brand_New_ONLY.aspx

I am just wondering what you guys prefer to buy? Coin, Bars, or even Shot

 

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[jim4silver]

I am looking to start buying like 10oz a month starting in January. I'm looking at what is the cheaper buy - coins or 10oz bars. So far it looks to be cheaper to buy coins. But I also found "Silver Grain/Shot .999+ Fine - (10 oz packages)" from http://www.apmex.com/Category/754/Silver_Bars__Rounds_Brand_New_ONLY.aspx

I am just wondering what you guys prefer to buy? Coin, Bars, or even Shot

TF,

Stay away from the silver shot. Yes it may be the cheapest, but when you go to resell who knows what will happen. There are several places online where you can calculate the price per ounce whether it be bars, 90%, etc., so you should be able to know what you are paying per ounce of silver.

My advice is that if you want the biggest bang for your buck, try either off brand, Christmas type bars and rounds, or perhaps 90% junk silver. Do not buy 40% halves because of their low silver content. Down the road if demand for them dwindles you will lose. I would take the bars or rounds over 90% if their premiums are close. But that being said I have purchased 90% before and have never regretted it.

If you really, really believe silver is going to take off then maybe look at american silver eagles or canadian maples, since you will recoup any premium if it goes as high as you think it will go. But you will end up with less silver ounces per dollar spent if you go this way.

But all in all, try to not buy any silver with less than 90% silver content. The only exception to this rule would be if you can score some cheap canadian pre 1967 coinage (pre 1968 for halves and dollars).

Good luck.

Jim

 

[mistergee]

i never bought shot but at those prices...10 oz is a great buy

 

[nyiangelo]

Your experience may vary but try to order from these guys: http://bullion.nwtmint.com/

I placed several orders with them in the past and recomend them. Best part is you pay slightly over spot compared to apmex or ebay. My last order had a 2 month wait period. But who doesnt have a wait now adays besides a dealer. I think the only catch is you have to order 50oz min for it to be close to spot but that's still better than these other sites.... good luck

 

[scavenger]

I'd go with coins, worst comes to worst you still have face value?

 

[BBcardsRI]

Jim gave you some great advice.

I advise you hit local dealers and not buy online if at all possible. You can round up some really nice deals especially once you build up a rapport with the dealer/s. With the few dealers that I am on really good terms with, it all started with me just coming in a few times over the course of a few weeks and looking at their stock... which causes them to remember you. Then I either made a small purchase or two of the next few weeks, or sold something to them like some old fiat, etc. After that much contact, I noticed their prices drop from those displayed for me, which caused me to make bigger purchases, and then my bigger purchases caused me to really get on good terms with them, and the prices they both sell at and buy at moved quite favorably for me, to the point where some of them sell for below spot.

You can't go wrong with at least trying to buy in person before going to places that love their premiums.

~Dave

 

[65gt350]

I'd stay away from the shot unless you plan on fabricating your own rounds or other items. I prefer 1oz .999 rounds from Engelhard, Sunshine, A-MARK but only at a reasonable premium (.50 - .75 over spot). However I will buy any .999 round at spot as long as it is marked with purity and weight. Currently the premiums on .999 rounds are pretty high so I buy 90% coins or sometimes the Silver Dollars are the better value. I am not a big fan of the SAE since I don't believe in paying that much premium upfront. I feel that you should be making your money on the buy side of the equation not on the sell side.

65GT350