# How to ensure that you pay less for silver.



## masterspark (Sep 2, 2012)

x


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## BlueShoe (Aug 7, 2010)

Sorry. 

I only bought silver once and it was just like you said. I overpaid by quite a bit, but part of it was trusting Midas Resources to represent the product instead of the salesman's interests. Don't ever buy from them.


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## jeff47041 (Jan 5, 2013)

masterspark said:


> To make sure you pay less for silver, just wait until two days after I buy some and the price is guaranteed to be 10% less than I paid. I have a little black cloud that follows wherever I venture.:gaah:


Well then let us know the next time you buy some! Sucks when that happens, but no worries, it will make you money later.


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## jeff47041 (Jan 5, 2013)

BlueShoe said:


> Sorry.
> 
> I only bought silver once and it was just like you said. I overpaid by quite a bit, but part of it was trusting Midas Resources to represent the product instead of the salesman's interests. Don't ever buy from them.


Never heard of them, but thanks for the warning.


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## NavaBoer (Dec 5, 2013)

Hopefully you won't undersell it when the time comes. When I was a teen my grandfather gave me about 30 silver bull coins and I undersold them by a lot. It was a dumb mistake, one I won't make again.


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## VoorTrekker (Oct 7, 2012)

I have purchased from APMEX and a few others. Right now I am waiting for my 10 rounds of 1 oz. from Secure Financial. $200 total with delivery.


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## Hooch (Jul 22, 2011)

the prices will fluctuate some. I am convinced that precious metals will be once again considered real money once all the fiat currencies fail. Whatever you pay today in silver you will gain back n them some...I consider my purchases a long term investment and dont sweat the up's n downs. Try n hold onto it if you can...


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## CulexPipiens (Nov 17, 2010)

masterspark said:


> To make sure you pay less for silver, just wait until two days after I buy some and the price is guaranteed to be 10% less than I paid. I have a little black cloud that follows wherever I venture.:gaah:


You must buy on the same days I do! 

Unless you're looking for the short term gain, don't sweat it. Long term should turn out just fine. I consider drops in prices to be buying opportunities. If it drops substantially again it's just another buy opportunity.


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## Bathouse (Nov 30, 2013)

VoorTrekker said:


> Financial. $200 total with delivery.


Thats a great deal! Got a link to their pricing page? Google isn't helping any... :gaah:


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## BillS (May 30, 2011)

I bought some silver last Sunday. The price has dropped since then. It doesn't matter that much. At some point, possibly in the next few months when the COMEX defaults, metal prices will go vertical.


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## Cast-Iron (Nov 8, 2013)

In theory at least, investing in precious metals isn't a means for wealth creation but a tool for preserving wealth. Whatever I hold in precious metals (at this moment at least) I have no intention of ever selling. Should that day come however, I am confident that they will retain most if not all of their original purchasing power. You can't say the same thing about any fiat currency.


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## Bathouse (Nov 30, 2013)

Cast-Iron said:


> In theory at least, investing in precious metals isn't a means for wealth creation but a tool for preserving wealth.


I completely agree, but I am also adding some "junk silver" for possible bartering. I am trying to have all the bases covered with limited assets.

The bulk of my assets will be invested in self-sufficiency (food, water, land..)


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## cqp33 (Apr 2, 2012)

masterspark said:


> To make sure you pay less for silver, just wait until two days after I buy some and the price is guaranteed to be 10% less than I paid. I have a little black cloud that follows wherever I venture.:gaah:


 I thought I was the only one that this happened too! LOL Guess not

@Bathouse - I am of the same train of thought, I will be putting a lot into self sufficiency and until I am satisfied with that will I put anything substantial into PM's.


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## bugoutbob (Nov 11, 2012)

Looks like most of us buy silver at the same time  However as some have mentioned it is more for holding than wealth appreciation. Certainly long term in my mind anyway.

My only regret with PMs is that I never have enough money to buy more.


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## Woody (Nov 11, 2008)

cqp33 said:


> @Bathouse - I am of the same train of thought, I will be putting a lot into self sufficiency and until I am satisfied with that will I put anything substantial into PM's.


That is exactly the way to look at it!!!! It is NOT a matter of 'making money' it is, as pointed out, 'preserving wealth'. At least from the standpoint of us common folks. If you have tons of extra fiat earnings and need a place to invest, do your research. If you, like most of us, have minimal extra fiat to store, go PM's. This is NOT investment advice, this is strictly a personal view!

I have silver I stored away at face value, a dime was worth $0.10. This was pre-1964 silver squirreled away even into the early 70's. I also have Morgan's I paid collector value for which are still 'worth' many times more than face value. At the time, it was my investment strategy. A Morgan with a collector's value of $100 would be worth $200 when I retired. It might be worth $17-something in silver now but I did not plan on that.

Whatever pans out pans out. I could have bought Apple or Bill Gates at $1 a share! Who knew! But back 40 years ago I liked the saying 'if you do not hold it you do not own it'. Apple could have easily gone bust and that $1 is now worth nothing. At least I can pull out and admire my 1878 Morgan and not remember how much I paid for it. It might be worth 10x what I paid but looking recently it is worth less (collectors value anyway). It is still a piece I can hold.


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## Hooch (Jul 22, 2011)

it totally is a store of wealth...but potentially could be investment. alotta folks who bought gold several years ago at $200.00 a ounce still made money if they sold now at gold is being smashed in price. The same with silver could happen especially for folks like me who dont have the funds to buy alotta silver. It is a store of wealth (what little I have) a long term investment if it shoots up to $300.00 ( I can dream  ) I make back the 15 bucks I bought the ounce for and a heafty sum of return if I need some $$. And I subscribe to the same train of thought..if its in my hand..I own it..its mine. I have some cool coins too I like to admire...so it's a win win for me. :flower:


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## Woody (Nov 11, 2008)

Yes! I have some Silver Eagles I bought for $30 an ounce. Today, according to the talking heads, they worth only $20. Did I lose 'money'? NO. I still have something worth something in my hand.

Look at it this way. Last year a 12 pack of TP (toilet paper) 'cost' $3.99. Today, regular price is $8.19. If I buy some today the price averages out to about $6 a 12 pack. If tomorrow the price goes down to $5 I did not lose money on the ones I paid $8. for. I AVERAGED a price increase, or saved fiat. What if tomorrow the price goes back up? Would I sell because I can make fiat on the original purchase price? No, because the next day it might cost me more to replace it.

When, besides manipulated gas prices, have you seen the price of anything go down?


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## BillS (May 30, 2011)

It's worth noting that the prices of gold and silver are being suppressed to keep the value of the dollar higher. Therefore, when gold and silver are allowed to rise to actual market prices there will be a lot of money to be made by those who have physical gold and silver.
I expect there to be panic buying of metals and panic selling of fiat currencies. 

I see gold and silver as a way to have money to buy food and gasoline during the early stages of hyperinflation when the stores are still open. It's possible we'll see a time when metals prices are up 10 fold but food prices are only up 5 fold.


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## BillS (May 30, 2011)

Woody said:


> Yes! I have some Silver Eagles I bought for $30 an ounce. Today, according to the talking heads, they worth only $20. Did I lose 'money'? NO. I still have something worth something in my hand.
> 
> Look at it this way. Last year a 12 pack of TP (toilet paper) 'cost' $3.99. Today, regular price is $8.19. If I buy some today the price averages out to about $6 a 12 pack. If tomorrow the price goes down to $5 I did not lose money on the ones I paid $8. for. I AVERAGED a price increase, or saved fiat. What if tomorrow the price goes back up? Would I sell because I can make fiat on the original purchase price? No, because the next day it might cost me more to replace it.
> 
> When, besides manipulated gas prices, have you seen the price of anything go down?


You could sell your silver before the end of the year to take the tax loss. Then buy it again on January 1st. I did something like that a year ago.


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## Woody (Nov 11, 2008)

BillS said:


> You could sell your silver before the end of the year to take the tax loss. Then buy it again on January 1st. I did something like that a year ago.


But then I would to actually prove to someone how much I have/had and what I paid for it. I'll stick with staying low and as far off the radar as possible. I will have to talk to a professional this year due to the severance package from work, for being laid off. Other than that I file as simply as possible and keep what I do to myself.


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## VoorTrekker (Oct 7, 2012)

Bathouse said:


> Thats a great deal! Got a link to their pricing page? Google isn't helping any... :gaah:


Let's wait until I get delivery, they may be a scam. Two weeks and no silver.


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## 21601mom (Jan 15, 2013)

masterspark said:


> I've been using Provident Metals. Great experience thus far. I can't find lower prices either.


Same here...


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## Marcus (May 13, 2012)

Just as we're coming to a top in the stock market, we're also coming to a bottom in the gold and silver markets. The bottom in PMs will be in the first half of next year and perhaps in the first 4 months of 2014. We may eventually revisit the S&P lows of 2009 while PMs will blast off.


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## lazydaisy67 (Nov 24, 2011)

I have a hard time with what silver to buy. I try to picture what daily life would be like for the average person like me who has to buy and sell at least some things after a collapse. Seems like coins make the most sense because everybody will know what they are, so you buy pre-1964 coins now because they have more silver in them and their value fluctuates per the market, but since I'm assuming there won't be a stock market to tell us the price of silver how will values be determined? Does that make sense? As far as the .999 pure bars are concerned, will we spend them like coins? How do carry them around? Not trying to sound stupid here, but I'm trying to picture things in a practical and workable way and hauling bags of silver to the "market" once a month or twice a year or whatever seems difficult at best and dangerous at worst, not to mention heavy.


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## TheLazyL (Jun 5, 2012)

lazydaisy67 said:


> ... I try to picture what daily life would be like for the average person like me who has to buy and sell at least some things after a collapse. ... won't be a stock market to tell us the price of silver how will values be determined? ....


I'd guess it would be the same way as we barter today.

I have eggs and you have mechanical skills. You and I agree on how many eggs you want to tune up my car. If we can't agree then we move on to someone else that will or we have to raise our ante.

Post SHTF

How may silver dimes will you take for 20 rounds of 30-06? If everyone has 30-06 ammo then you might accept 1 or 2 dimes. On the other hand if there hasn't been any 30-06 forever, you could name your price.

Personally I have a hard time understanding why anyone would accept silver instead of material goods. I never heard of anyone sustaining themselves by making soup out of silver dimes and quarters.


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## Cast-Iron (Nov 8, 2013)

lazydaisy67 said:


> I have a hard time with what silver to buy. I try to picture what daily life would be like for the average person like me who has to buy and sell at least some things after a collapse. Seems like coins make the most sense because everybody will know what they are, so you buy pre-1964 coins now because they have more silver in them and their value fluctuates per the market, but since I'm assuming there won't be a stock market to tell us the price of silver how will values be determined? Does that make sense? As far as the .999 pure bars are concerned, will we spend them like coins? How do carry them around? Not trying to sound stupid here, but I'm trying to picture things in a practical and workable way and hauling bags of silver to the "market" once a month or twice a year or whatever seems difficult at best and dangerous at worst, not to mention heavy.


Excellent questions! For the silver to be of any real value it has to have an easily recognizable value. There are a lot of privately minted coins that may be hard to redeem for this very reason. To me, junk silver (U.S. silver coins minted 1964 and earlier and are of little numismatic value) seem like a great solution. They are widely available, easily recognizable and have a consistent silver content although their weights may vary slightly due to wear. There are some well made Chinese counterfeits out there so caveat emptor and buy only from a reputable dealer or someone you can trust!

If that day comes when you need to spend these coins, I don't expect a smooth transition immediately. So until the market has evened out, I will figure what I invested into a silver dollar and what that investment would have bought me at that time (i.e. 6 gallons of gas, 10 loaves of bread, or whatever) and that's what I would ideally want to redeem it for. The theory is silver should maintain its purchasing power because of its intrinsic value. Its subject to the laws of supply and demand so the value can and will fluctuate a bit, but it has been a staple of exchange dating back thousands of years. I hope this helps you if and when you decide to make an investment!


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## ddowell73 (Nov 11, 2013)

I buy and keep PM's because it is a method of saving and spending without leaving an electronic or paper signature. Some argue that cash can be used the same way, and it can, but it is easier and more fun to hide $1200 in a 1oz gold coin than it is an envelope of cash. I like to think od it as my treasure hoarde...


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## Woody (Nov 11, 2008)

I also believe that most transactions, post SHTF situation, would be barter, skills or goods. I need eggs and have a way to grind grain. I can fix your broken window and you can fix my broken percolator.

For the value of silver (or any PM), it will find its own value fairly quickly. Vendor A has a loaf of bread for 5 silver dimes. Vendor B has one for 3 silver dimes. Vendor B will get all the business unless A lowers their price to 3 silver dimes. Maybe Vendor B will raise his to 4 silver dimes, then the going price is 4. Maybe he will raise it to 5 dimes, then the going value for a loaf is 5 dimes. You will have to decide if a loaf of bread is worth 5 dimes to you or not. If enough people decide that is too much they will not sell any and have to lower the price to what the market will pay.

I am not purchasing PM's to spend in a situation, unless I have to. I am purchasing them as a way to store 2013 value 'fiat dollars' for the future. Sure their 'value' is going to go up and down while the market is being manipulated. Eventually they will still be worth something, even if it is $.10 on the dollar over what I originally paid, the fiat dollars will be worth less than that.


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