Silver Bars?

[Jdett411]

I'm going to start investing in silver. My question is bars or rounds, if I buy 1 oz of either what's average to pay per oz above spot price? Where to get best price, online store or walk-in store? Thanks.

 

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[fella]

Silver is silver! Rounds or bars I pay the same. I was paying $2 over spot (cheapest in my area) but my supplier just raised his price to $5 over (most expensive in area) so I'll be looking for a new play to buy from.

 

[thebirdflu]

I recently bought some silver from APMEX and had a good experience. I don't want people to think I'm spamming so I won't post a link but you can find it with a quick google search. It looks like they're current prices are about $3 over spot but volume purchases give you a better discount.

Like the previous poster said silver is silver so bars or rounds are no difference. If you're investing then eventually you will want to sell them. My friend buys and sells precious metals and he says what does make a difference when selling is the manufacturer or mint. The big names are more recognized and thus will give you a better payout when you do sell. Look for names like Engelhard, Johnson Mathey, Sunshine, Perth Mint etc. Of course you can also buy American Eagles, Canadian Maple Leafs, or Mexican Libertads. Their costs are higher over spot but they seem to hold their value over spot over the long term, especially Eagles because they have numismatic value in addition to Silver value.

It's definitely a good time to buy silver! It seems like its a little undervalued right now. However silver is not a get rich quick investing method. It is something to buy and hold for a long time. I will say it's really cool to hold some in your hand! And it's a good pice of mind to have the physical metal in the event the economy should crash and paper currency becomes worthless. Then your silver collection could be a real life saver!

 

[flinthunter]

You might try posting this question on the Precious Metal Prices forum. These guys know their silver.

 

[thebirdflu]

Good call flinthunter. I didn't know there was a forum for that here. TNet is such a great place to learn!

 

[huntsman53]

I would recommend purchasing 10 ounce Silver Bars from Kitco or SilverTowne! Their' premium over spot is much lower on these compared to the 1 ounce and 5 ounce bars and they sometimes ship for free. SilverTowne has a sale (Hot Items) on most of their' Trademark Eagle Bars and these get free shipping and their price is just a little over $2 over spot. Kitco has some really good deals and their' 10 ounce bars are cheaper but they probably charge for shipping. However, it doesn't hurt to check into their prices with shipping! I prefer the 10 ounce Elgelhard Bread Loaf shaped bars because they not only usually sell for a higher premium above spot but they are also collectible in their' own right! However, these are hard to get cheap from Gold/Silver Dealers and Coin Dealers and forget about eBay as folks pay through the roof for just about any Silver Bars on there and especially the old Bread Loaf shaped bars. Goods names on Silver Bars is of course Engelhard but also Johnson Matthey, Sunshine and SilverTowne but there are a few other well known and respected names.


Frank

 

[hunts with son]

I just started buying silver to add something different for the future. After reading a lot here at TN and checking out a few online sites, I have made two small purchases from provident metals, and am happy with them so far. I prefer the less expensive rounds, and will also add some American eagles and Canadian maples in the future. Not sure if it makes a difference but the maples are .9999 pure.

Good luck with your investments.

 

[Jdett411]

Thank you all! I'd feel good with buying $2-3 over spot. I do understand the long time investment here. I'm 34 but remember back when I was just a little kid my dad always having silver, rounds, bars, coins. He had well over 1000oz. Smart man!!!! Cause he finally sold it a few years back when it was near 40 per oz. Still remember from back then his 100oz bar, being amazed on how heavy this small rectangle was. Time to follow in his foot steps!!!

 

[Argentium]

Just get familiar with some of the products that are out there - I think" thebirdflu" hit all the major points concerning silver investing 101 , the only
other thing that I would consider is putting some percentage of your investment money into circulated U.S. silver coin - also known as "junk silver"
The advantages to having junk silver is that the premium over spot is usually much lower at the point of purchase , and it will always be legal tender
in what ever denomination -( these units are a known commodity nation wide , and world wide -first world anyway).

 

[Peyton Manning]

you could also buy morgans or peace dollars which will always retain some historic value

 

[CincinnatiKid]

I learned the hard way that local walk in dealers are far superior, once a trust has been established. I started buying Eagles, uncirculated or proof, thinking they always command a premium if sold. Wrong! Find a local reputable dealer and buy from the "scrap silver". It weighs the same as premium pieces and can be liquidated at near cost if needed.
When buying, even a single piece, try not to pay more than $1.50 over spot.
Good luck in your endeavors. Peace

 

[Diggin-N-Dumps]

you could also buy morgans or peace dollars which will always retain some historic value

Thats What i prefer...I Do buy Silver Eagles thou....But I had a few bars in the past, wasnt really my thing. Something about Old Silver excites me.

I just bought a few generic 1oz Rounds from Silvertowne for 21.50 ea. free shipping like a week ago...but i will continue to trol Ebay for people that are selling under spot...i have my most luck there

 

[Jdett411]

Thanks Diggin. Bought some bars and the Buff 1oz rounds from silver townie. 21.60, no tax/free shipping.

 

[gsxraddict]

I order mine from SilverTowne, free shipping.

 

[CincinnatiKid]

Silver and gold are like a good woman. They may cost a bit more in the beginning, but pay off huge!