Starring Silver Hoarding

[Holt0222]

Hey everyone so I am looking to start amassing some silver for investment purposes. Would it be better for me to buy 1oz bullion or should i buy my silver in coins. I am looking for best rates.

 

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[Silver Saver]

Maybe some of both! Good rates can be found on either one. The one thing I do like about 1 oz rounds over junk coins though is that the rounds don't ussually have wear like the coins might have. Later Washington quarters, Rosie dimes, or 64 jfks aren't ussually that bad for wear though.
Most of the big online retailers do 1 time spot deals for new customers. You can find the deals at the site findbullionprices

 

[Holt0222]

Oh thanks for the heads up about spot deals. Also though does condition really matter on the coins as long as they are not completely destroyed. So wouldn’t junk silver be most profitable.

 

[weighit]

Thats how I look at it, as 1 oz of silver is still worth what 1 oz of silver is worth. I just went into the local coin shop, he had 1 oz rounds for 50 cents over spot and I picked up a small pile. He had others for as much as 2.00 over ( prettier coins) but I didn't want to pay any more for 1 oz than needed.

Oh thanks for the heads up about spot deals. Also though does condition really matter on the coins as long as they are not completely destroyed. So wouldn’t junk silver be most profitable.

 

[Holt0222]

Yeah my coin shops like 1.50 over spot.

 

[GlenDronach]

A few points to make your decision:

Junk silver (90% silver coins from circulation) tends to have the lowest premiums (which means you'll pay less up front, but also get less on the sale).

It tends to be widely recognized and accepted (if you have some off brand or highly counterfeited bullion rounds or bars, it may mean a more difficult sale).

Junk silver is often sold at a certain amount x face value, but because of production variation and wear, may contain less silver than when new, so some places buy it back by weight rather than face value.

Junk silver is more difficult to stack and store- more pure silver in bars takes up less space.

Junk silver is good in a potential bartering situation- you can spend it in dimes, quarters, halves, or dollars vs. by the ounce with bullion.

Junk silver has cool historical value- you are holding old coins with cool designs. However, bullion can also have cool designs and some people collect them like art.

 

[Holt0222]

Would you say bullion holds its value better. I’m just worried since I’ve read of so much counterfeit bullion lately.

 

[Silver Saver]

I just meant as far as the silver weight goes. People charge for junk coins based on what their original weight is. So a quarter at spot right now would be $2.79 based on its original weight of .1808 oz of silver. But if the quarter is slicked out then there is actually less weight to the coin.
But at the same time, when you sell the quarter you'll also charge based on the original weight too. So no it probably doesn't matter much.
It's just my personal preference not to buy junk coins if their slicked out, unless they are a better deal.
As far as what's more profitable, I'd say whichever is closest to spot is best.

 

[Silver Saver]

A few points to make your decision:

Junk silver (90% silver coins from circulation) tends to have the lowest premiums (which means you'll pay less up front, but also get less on the sale).

It tends to be widely recognized and accepted (if you have some off brand or highly counterfeited bullion rounds or bars, it may mean a more difficult sale).

Junk silver is often sold at a certain amount x face value, but because of production variation and wear, may contain less silver than when new, so some places buy it back by weight rather than face value.

Junk silver is more difficult to stack and store- more pure silver in bars takes up less space.

Junk silver is good in a potential bartering situation- you can spend it in dimes, quarters, halves, or dollars vs. by the ounce with bullion.

Junk silver has cool historical value- you are holding old coins with cool designs. However, bullion can also have cool designs and some people collect them like art.

Very good post and info

 

[fistfulladirt]

As far as profits go, you’d be better off today investing in the stock market.
The metals market has been dead for years now, because of paper manipulation by central banks.
I only consider owning precious metals as possible insurance, to carry some wealth through a currency or financial crisis.

 

[fistfulladirt]

Junk silver is good in a potential bartering situation- you can spend it in dimes, quarters, halves, or dollars vs. by the ounce with bullion.

I read this statement quite often. Could you please give a sample of your experience with this type of barter, or maybe some historical examples? Thanks.

 

[GlenDronach]

I read this statement quite often. Could you please give a sample of your experience with this type of barter, or maybe some historical examples? Thanks.

I never barter with coins. Just the idea that a generally accepted value in different sizes would be better for buying smaller items. A loaf of bread for a dime, a gallon of gas for a quarter.

The economy would really have to trash for that to make sense. Depression, post-war, etc.

I know one ice cream shop was in the news for selling ice cream in exchange for a silver quarter back in the recession.

I'm not a prepper who is stacking for some post-apocalyptic scenario, so that doesn't really matter as much to me.

 

[Holt0222]

If I do buy it in junk silver. What is the typical buy rate. My shop does 15x face value.

 

[GlenDronach]

I'd check eBay. There are a few companies right now doing 12x face (I find it for that locally too). There's a promotion right now of 10% eBay bucks for purchase over $150, which means you could get some free silver too!

 

[fistfulladirt]

If I do buy it in junk silver. What is the typical buy rate. My shop does 15x face value.

Provident is selling as low as 11.3 x face. Free shipping to your door over $99.

 

[dejapooh]

It depends on what you are looking for. If you are Inflation Speculating, you are best off with name brand silver rounds at as close to spot as possible. I would avoid the "Pretty" ones without names. With the fake crap coming out of china, it is possible that ALL silver will be devalued in the future as people try to avoid the counterfeit bullion. If you are speculating on the end of the economy, I would pay the premium for U.S. Silver Coins. They are the hardest to counterfeit of the common silver. They are a known size and weight. If the size and weight do not match what is KNOWN, they are fake. It is easy to detect counterfeits, and in the Apocalypse, easy means easy trading. Either way, it's a dead weight asset and not an investment.

 

[LooseChange]

Aren't we missing the obvious?
Get your Ag stack for face value by culling it from rolls.

 

[dejapooh]

I read this statement quite often. Could you please give a sample of your experience with this type of barter, or maybe some historical examples? Thanks.

This presupposes an appocolypical economic crisis where you must barter for food. Where a silver dime is easier to use than a 1 oz silver bullion bar. If you are buying a can of beans, a silver dime requires no change or additional purchase. A 1 oz silver bar would require change, which would be a PITA.

 

[dejapooh]

Aren't we missing the obvious?
Get your Ag stack for face value by culling it from rolls.

Lots of labor, small chance of reward. I gave it up after hitting 10 skunk boxes in a row.

 

[fistfulladirt]

This presupposes an appocolypical economic crisis where you must barter for food. Where a silver dime is easier to use than a 1 oz silver bullion bar. If you are buying a can of beans, a silver dime requires no change or additional purchase. A 1 oz silver bar would require change, which would be a PITA.

Thanks for your experience.