# Question About Silver Coin



## Jeani

I just bought a silver piece from Apmex by computer/mail.

It's .999 Fine , one troy ounce of silver.

Since I know 'nothing' about gold/silver, did I make a wise choice?

I notice it has 'Apmex' on the back of the coin.

Does that hurt the quality of the coin?

I notice Apmex is advertize on this forum,and what is your thoughts about Apmex?

I got Apmex from a Christian article that highly recommended them...

Thanks....
~Jeani


----------



## NaeKid

Jeani said:


> I notice Apmex is advertize on this forum,and what is your thoughts about Apmex?


Automatic advertisements in the GoogleAds there. The advertisements are based on your internet cache - meaning that if you are surfing for sites looking for information on silver, the advertisements will be about silver. If you are looking at dating sites, the advertisements will all be dating-related.

Now, if you internet cache is "cleared" after every session, there will be nothing for the Google-advertisements to work off of - so - the ads will be all related to what is on the current page. You may see sites about silver and dating in the boxes below.


----------



## sailaway

I would pick up a copy of Coin World and go to some coin shows in your area. Get an education before you start buying. Personally I would lean toward U.S. Coins, they can be easilly spent and traded.


----------



## bunkerbob

I agree with sailaway, US coins are easily identifiable, other silver bullion whether coinage or bars aren't. I usually buy junk or non-collectable silver coins from established coin shops. Junk or not the percentage of silver never changes. My last buy was half dollars same percent but was cheaper that dollar coins per face value.


----------



## firemanjim478

sailaway said:


> I would pick up a copy of Coin World and go to some coin shows in your area. Get an education before you start buying. Personally I would lean toward U.S. Coins, they can be easilly spent and traded.


I would check on amazon.com for coin books. Look up this seller, Jimmywarhorse , he is from Ohio. He has brand new 2010 Coin World books at a great price. Also watch Ebay, type in the search window "silver 10" this will show you 10 troy ounce bars to bid on. If you want smaller 1 ounce bars , just adjust your search to "sliver 1" . Buy when the market is down and store them for when you need them...... Jim


----------



## Jeani

_If the dollar falls, do you think any 'silver' or 'gold' will be used?

Will the government take all of our silver and gold?_


----------



## AlaskanWilly

https://store.nwtmint.com/Bullion_Gold_Silver_Platinum_Palladium/Signature_Silver_Bullion/4

Here is a link that I have been buying up slowly.. break apart 1oz x 4 piece bars or coin. I'm not a big gold fan but I am trying to make certain each of our b.o.b's contain several of these just in case.


----------



## nj_m715

Silver is at record levels and no one's talking about it? 

I put a few dollars into US silver coins over the summer. Most of it was war nickels. I could get them much cheaper than 90% coins.


----------



## The_Blob

nj_m715 said:


> Silver is at record levels and no one's talking about it?
> 
> I put a few dollars into US silver coins over the summer. Most of it was war nickels. I could get them much cheaper than 90% coins.


now if you could juuuuuust find a 1943 *copper* penny... OR a 1944 *steel* one!


----------



## nj_m715

I don't enough about coins to know what's rare. I just know the basics, pre '64 silver and some 40% commemorative coins, war nickels etc. I use the coinflation site to know if I'm buying at a good price.


----------



## bstickler92

if you are going for copper, pre 1983 pennies are solid copper and worth more than $0.01 than their weight in copper. i'm interested in silver coins from a collector's stantpoint, i've got an 1881 morgan and a couple recent ones. any silver coins you all would recommend as a better investment?


----------



## nj_m715

The pre '83's are 95% copper, 5% zinc, but I guess I'm splitting hairs now.

I think most guys here are looking for "junk" silver coins for their scrap/barter value. If things get bad and you had to trade a silver coin for something that you need, I doubt anyone will care how rare your coin is. They will only care about it's weight in silver. 

I have a few war nickels (35% silver) and some pre '64 dimes and a couple quarters.


----------



## The_Blob

nj_m715 said:


> The pre '83's are 95% copper, 5% zinc, but I guess I'm splitting hairs now.
> 
> I think most guys here are looking for "junk" silver coins for their scrap/barter value. If things get bad and you had to trade a silver coin for something that you need, I doubt anyone will care how rare your coin is. They will only care about it's weight in silver.
> 
> I have a few war nickels (35% silver) and some pre '64 dimes and a couple quarters.


exactly right... of course with the mindset here, my advice is usually to sell the 'valuable, rare' stuff now so that you can get the 'barter' stuff for the future


----------



## Clarice

I don't trust the government not to confescate any PM. As with any other prepping, do it quitely. I visit pawn shops & flea markets, go to estate sales and auctions. Always pay in cash. I do not order anything over the web using a credit or debit card. You can print your order and send it along with a money order.


----------



## Victor23

I have found some of the vendors in the flea markets to be quite reasonable. Silver eagles will run about $2 over spot prices. I am a fan of "junk silver". that is the Pre-65 silver coins. 64 and earlier coins are 90% silver. If you stop by one of your local coin shops and buy a little each week, you will be amazed at what you accumulate over time. 

No one knows the future but if the election does go well in 6 weeks, Silver and gold will most likely continue their climb. 

There was recent article that I read about Sen Weiner and one other senator that wanted to have hearings on Gold sales. Apparently, the purchase of precious metals has cut in to the buying of treasuries so the Govt can't finance thier debt. I tried to find the link.


----------



## Victor23

Heres the link.

Congressmen Weiner and Waxman Set Gold Hearing -- Seeking Alpha


----------



## nj_m715

My local coin shop wants to pay 1/2 of spot and charge 1.5 spot price. I had to bite my lip not to laugh. I thanked him for his time and walked out. I found most of my stuff on ebay, but I alway pay under spot to make for the shipping.


----------



## Victor23

That coin shop wont stay in business very long. I understand the need to make a profit but that is theft. IF silver is 14 times face value, I can understand paying 13 times face to a customer and reselling at the 14. He has to pay rent and utilities but the above example is very upsetting. Vote with your feet.


----------



## The_Blob

nj_m715 said:


> My local coin shop wants to pay 1/2 of spot and charge 1.5 spot price. I had to bite my lip not to laugh. I thanked him for his time and walked out. I found most of my stuff on ebay, but I alway pay under spot to make for the shipping.





Victor23 said:


> That coin shop wont stay in business very long. I understand the need to make a profit but that is theft. IF silver is 14 times face value, I can understand paying 13 times face to a customer and reselling at the 14. He has to pay rent and utilities but the above example is very upsetting. Vote with your feet.


wow, what a thief... of course MANY people are ignorant; and there is always the _criminal_ element to do business with... low-mid level value collectible coins have always been near the top of the list for burglary/fencing because they are so hard to track and/or prove stolen.

as a buyer/seller (of many things) I can tell you that unless you are dealing in volume buying something for x & selling it for 2x is pretty standard, any more & you risk going out of business because you'll get a reputation for robbing people (deservedly so), any less & you risk going out of business due to lack of revenue... don't forget people, vendors have overhead costs and assume risks that the customer doesn't and THAT is why there is a vendor price & a retail price... DON'T want to pay retail (like me) buy a local vendors' (county) license for $25 (fees vary) & delve into the distributor & auction 'trades'. Many shows/swap meets/flea markets etc etc have their own vendors' licensing that will allow you to sell there even if it isn't your county or even state. 
I mark down my prices a mere 10% below MSRP (or 'book value') & never fail to sell my inventory in a timely manner, but then again I only sell wares I'm intimately familiar (product & customer base) with


----------



## nj_m715

I understand the man needs to make a profit, but I agree with you guys and that's why I left. He seems to be doing well, the shop has been there forever. I guess an uneducated person would jump all over 10$-12$ per oz. if they didn't know it's worth $20.

I use coinflation to get the spot price and these guys have a good example of what I would consider a fair mark up 90% U.S. Silver Coins They show the spot price and their buy and sell prices right on the site.

I can't see him asking well over spot when I know he paid well under spot and most likely it's silver that has been sitting on for months or yrs so he may only have $5-10$ per oz into it. He can pound sand. I spent almost $2,500 on ebay this summer. By carefully shopping I was paying about $15 per oz. He could have had all that business if he wasn't greedy. Oh, well. His loss and I probably made out better. It just took time looking for the deals.


----------



## greaseman

Can I offer a few hints on silver purchases. I'm not an expert, but I have been buying silver for over a year, and there are some generally accepted common sense ideas that might help everyone buying for the first time. These are my opinions. Unless your buying coins for collector purposes, buy pre 1964 circulated silver coins, or junk silver. The preminum, or price over melt value that you have to pay to buy these, will be the lowest.
Currently, if your purchase from a coin shop, or a buillon dealer, you might expect to pay a couple dollars over "spot" price, or melt price, for each American silver eagle you buy. The couple dollars is a common preminum. If you buy at a flea market, or secondary market, expect to pay even more. If you buy silver bars, or rounds, the preminum you pay for that will be more than junk silver, but less than silver eagles.
If you do a google search for discount silver, you can sort through the web sites, and quickly pick out the cheapest dealers. Many dealers will have a similiar price, but shipping can vary greatly. Just do your due digiliance, and you can find a good dealer. I have been buying from gainsvillecoins.com for a long time. I think they are the cheapest, and I have had no problems with them. Before you flame me, I have no affiliation with these people, I'm just a well satisfied customer, and they sell junk silver in small quantities.. There are certainly other reputable dealers out there, just check them out, and read the customer reviews.
I personally try to buy mostly junk silver, as I believe this will be the easiest to barter with, and is easily recognizable. Just do a little research. 
When things go to pot, and I believe they will, I think a "collector quality" coin will hold no more value for the most part, than the same coin in an average circulated condition. Most people will only be interested in the precious metal content of whatever coin you have, and not the condition. Just my opinion.
Lastly, on where the price of silver will go. That's anyone's guess--pick a number. Right now, $50 an ounce seems like a no brainer for silver, maybe by the end of the year. I'm a silver bug, and I love the stuff, so I'm a little prejudice on this aspect. But I sincerely believe that whatever ammount you spend on silver, will be the best insurance policy you will ever buy. I think the stuff is still cheap at $25 an ounce. And I'm still buying it myself.
Last hint. If you do buy any precious metal, do not, under any circumstance , store it in a safety deposit box. Check your history on this one. The government seized everything in the boxes in the 30's, and they will do it again, so don't even go there with the "that could never happen" crap. It has--and they will.!!! Bury your pm's in the ground.
Have a great silver day, and good luck.


----------



## Clarice

Very interesting, greaseman, we know very little about purchasing pm. I don't think I would want to buy online as these purchases are too easy to trace. If and when I buy I will go to coin dealers or pawn shops and purchase with cash. We don't buy anything on line. I order the cataloge and then send a money order with my order.


----------



## nj_m715

"order the cataloge and then send a money order with my order."
And the company will still your information on file. Don't think they won't give it up to big brother if they ask for it. 
I find my best prices on ebay if you look carefully. I have also sold on ebay at good prices if you work your listing correctly and get enough views. 
I understand that many people feel the prices will continue to rise, but I don't feel comfortable putting any money in pm right now. The price moves up and down like a sock. I think stands a better chance of crashing faster than things like rice, beans or ammo. I'm no investor or expert, that's just my feelings. I recently "invested" in a waste oil burner to provide cheap heat to my garage and home. Energy and fuel prices aren't going down anytime soon, so I think that's a safe place to put a few dollars.


----------



## SnakeDoc

Greaseman hit it on the head. Come next year, with the new regs, the feds want your local coin dealer keeping tighter tabs on record keeping. I encourage cash sales with as little to link this to you as possible should holding specie coin become "illegal". 

Pvc pipe in the back yard can make a nice fireproof security system.

Nuff said.


----------



## Jarhead0311

Jeani said:


> I just bought a silver piece from Apmex by computer/mail.
> 
> It's .999 Fine , one troy ounce of silver.
> 
> Since I know 'nothing' about gold/silver, did I make a wise choice?
> 
> I notice it has 'Apmex' on the back of the coin.
> 
> Does that hurt the quality of the coin?
> 
> I notice Apmex is advertize on this forum,and what is your thoughts about Apmex?
> 
> I got Apmex from a Christian article that highly recommended them...
> 
> Thanks....
> ~Jeani


What you bought was a one ounce silver round minted by Apmex. Silver Eagles usually bring a dollar or two an ounce more than silver rounds and no the markings on the rounds don't affect the value of the coin, it's the melt value that determines the value.


----------



## greaseman

here's my 2 cents of advice. My opinion only. I don't shill for anyone, or any buillon sales firm. With that disclaimer, here's what I would reccomend. I have been buying precious metals for a year or so. Now, I mostly buy silver, as I think it is still greatly underpriced for now.
I stick to purchasing junk silver, as it has the cheapest premium over spot or melt prices. These are non collector quality, and readliy known to everyone. In a SHTF scenerio, no one is going to give a hoot about how perfect or collectable a coin is, only the weight of gold or silver. There's nothing wrong with collector coins if you want them, but I think most people now are interested in what will benefit them in a worst case scenerio.
You can do a google search, and find the cheapest prices by just doing your due diligence. I buy all my stuff from gainsvillecoins.com. They are honest, and I haven't been able to beat their prices yet. I'm lucky to live near their retail location, so I pick my purchases up in person, saving on shipping. again, I don't work for these guys, or get anything for mentioning them. I'm just rying to save someone the worry about what to buy, or who to buy it from. I'm prejudice, as I love junk silver. 
If you want to know the "street" price of any type of coins, look at Ebay. There, you will find everything for sale, at the real price that people are willing to pay for any coin. You can also develop a relationship with a local coin shop, as they usually have a brisk business constantly getting in coins that they buy, and reselling them just as fast. I'm mostly talking about junk silver. American Eagles are usually cheaper from online sources, i have found.
The great thing about junk silver, is that you can take just a few dollars, and own some real money that right now, is going steadily up, and will likely keep doing so for quiet a while. I just buy some everyweek or so, regardless of the price, and my cost kind of averages out.
I also like gold, but it is very expensive, and the small weight ammounts carry a very high preminum over the 1 ounce size.
I hope my experiences with metals has answered some of your questions. The best way to get the silver is jump right in and get you some. You better hurry thought. All the sources I read, and my own gut feeling tell me that silver is about to explode, and close up that silver to gold price ratio, as the fundamental shortage of real available silver becomes well known. Enjoy the hunt for the junk, and enjoy it when you get luck and find some under current melt price.
One last mention of a helpfull web site. I go to coinflation.com, all the time to keep up with the current melt price of all junk silver coins. This site does all the math calculations for you, if you are wondering if something is a good deal or not. Just plug in what kind of coin, and the number of coins you are wondering about, and it will tell you the value. it makes figuring out a deal much easier. One last time--I don't have any afliation with that site at all. They just have a really good site.
good luck sports fans.


----------



## greaseman

I also have another suggestion for people that are really down on their luck, and basically have almost no funds for coin purchases.
Here's the deal. The regular old penny from about 1982 and back, is almost entirely copper. With the price that copper is today, those pennies are actually worth about 1.8 cents each, in melted value. That doesn't sound like much, but I can promise you, that as the price of copper continues to rise, sooner or later, people that deal in scrap metal will buy these from you for well over a penny.
Go to the bank, and buy rolls of pennies, sort through them, and pick out the copper pennies, and set them aside for a future date. The progress is slow, but like I said, the day is coming soon that you will be able to sell these for more than a penny.
The same principle can be used with nickels. The current price to make a nickle is more than a nickle. The price of all metals is going up daily. Not just gold and silver. Go online, and look up the melt value of a regular nickel. it's more than a nickel. Again, sooner or later, especially when we go to an all electronic payment system, all coins will be melted for their metal content.
These are real world ways to save money on a poor mans budget. I know of people who buy cases of nickels. They aren't buying them for nothing. They are a great poor man's investment.
Good luck, and go get some pennies and nickels.


----------



## pdx210

i stopped buying silver when it hit 10.00 Oz for silver eagles and thats what i have most of.

Here's something to think about. say you have generic bullion coins it might be hard to use these because it's an unknown name and some might not trust that the coil is pure silver the same holds with scrap metal. 

if buying bullion try to stick with better know names 

Englehart 
Johnson- matthey 
sunshine minting 
Northwest Territorial Mint


----------



## philjam

A pre 1964 silver dime may get you a loaf of bread if hyper inflation kicks in. A pre 64 silver quarter will trade for 3 loaves. These are circulated USA coins.


----------



## nj_m715

If hyper inflation kicks in? A dime is worth 2 bucks right now. That will get you 1 loaf of name brand or 2 loaves of store brand bread today. 

"Things" will still have the same value, but the value of the dollar can change. 

A simple and cheap acid test can show the % of silver in a coin.


----------



## HardCase

Sorry, edited and can't figure out how to nuke.....see below.


----------



## HardCase

New here, first post. I've been a coin collector since I was about 10 years old and I can tell you that was a loooooooonnnnnnggg time ago. I've also invested or accumulated some silver and gold in bullion form, not a lot but some, over the past 30 years. 

Here's my take. I quit buying gold when it hit $1000 an ounce, which was around 2 years back. It's now approaching $1400. Guess I wish I'd bought more at $1000-1200, but I didn't. Silver is a different story. Percentage-wise it has gone up a lot more than gold. I can remember buying it in the '80s and early 90s for $5+- per ounce. Now it's over $27. Some predict that it'll go to $100+, but I'm dubious. In any case, I agree with what others have said about buying "junk silver", pre-64 dimes, quarters and halves, and also "circulated common-date" Morgan and Peace silver dollars, in preference to bullion, Eagles, or rounds. I think it's the best buy at present and also will have the most utility in a SHTF or economic collapse scenario. 

For pure investment purposes, I think the best bets out there right now are in high-grade third-party-graded rare US coins, but you don't even want to think about going there without a very thorough education, and even with that you're going to get scalped occasionally. Of course, if SHTF such rarities will be worth little more than bullion value, so rare coins are only a way-to-go if you assume that things are going to remain relatively stable for a number of years to come. And if you thought that you'd probably not be here. So, "junk" silver is the way-to-go right now.


----------



## greaseman

I agree with you 100% about the rare coins. The rules that usually apply to collecting coins will be meaningless in a SHTF scenerio. No one will be concerned about anything but the gold or silver content of the coin. Junk silver, in my opinion is the best way to go. I have a little of all of the metals, but the silver seems to be appreciating the fastest.
I don't buy for investment, I buy for asset protection. The appreciation of the coins is a bonus. I reccomend buying on a regular basis. No ammount is too small. Go with what you're able.
Have a great day all, and keep stacking.


----------



## vn6869

greaseman said:


> I agree with you 100% about the rare coins. The rules that usually apply to collecting coins will be meaningless in a SHTF scenerio. No one will be concerned about anything but the gold or silver content of the coin. Junk silver, in my opinion is the best way to go. I have a little of all of the metals, but the silver seems to be appreciating the fastest.
> I don't buy for investment, I buy for asset protection. The appreciation of the coins is a bonus. I reccomend buying on a regular basis. No ammount is too small. Go with what you're able.
> Have a great day all, and keep stacking.


+1 greaseman

I stay away from "collector" coins as the market is just too risky. Saw long ago the grading system . . .well there really is no "system".
Besides buying for a asset protection also, investment is purely in the metal value.


----------

