# Need advice on silver



## VAP55 (Jul 8, 2012)

Hello everyone, I was hoping to get some advice on investing in silver. I did a search of the website, and came away very confused from all the information on silver. I'm looking to start small, about 1,000 dollars. What advice do you all have for me? Thanks in advance for the information.


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## db2469 (Jun 11, 2012)

VAP55 said:


> Hello everyone, I was hoping to get some advice on investing in silver. I did a search of the website, and came away very confused from all the information on silver. I'm looking to start small, about 1,000 dollars. What advice do you all have for me? Thanks in advance for the information.


I buy mostly American Eagles because of their purity from either Apmex or Gainsville Coins(a little cheaper)..


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## invision (Aug 14, 2012)

That or pre-1965 quarters, dimes, and half dollars. They are all 90% silver. Another option is to look for sterling silver items (mainly spoons, forks - non-weighted items) and melt down for bars. Sterling is .925% pure.

There is a lot of talk about what will be accepted if tshf. I think any form will be good.

Another thing, buy gold too.


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## BillS (May 30, 2011)

I prefer junk silver coins. I think I paid 6% over spot and that included shipping and the credit card surcharge. Check this out:

http://www.providentmetals.com/coins/us-silver-coins/coin-90-silver-us-junk.html


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## Jim1590 (Jul 11, 2012)

Avoid ebay, investigate fees and commissions for most of the big house places before buying from them. Don't have them send you info cause then they never leave you alone.

Don't buy (or sell to) pawn shops, consider calling around to local coin shops and tell them you are looking to buy some coins, ask how much over spot they charge per ounce.

Look at each coin / bar before buying it. Make sure it is what you want. Look for "Troy Ounce" in whatever form you are buying it, i.e. half ounce, ounce, 5 ounce, 10 ounce etc. If it says "clad, mils, mills" or something other than pure silver (sometimes says fine silver) then walk away. The arguably most recognized in the US would be the American dollar Eagle coin. With maybe the Canadian 5 dollar next. The US coin is .999 silver and Canadian .9999 silver. So the Canadian has a smidgen more silver. Do not be afraid to weigh what you are buying. A troy ounce is 31.1 grams. A ounce is 28.35 grams.

Keep an eye on your loose change. Easiest thing is that the older silver coins just look different, different weight, different feel. Look closer at those. Before you look into buying old coins like a walking liberty, read up on it first. See what its value is (tangible value may make it worthless SHTF) so you want to know what its silver value is.

Art bars and commemorative coins are worth their weight in silver. But there is usually some cost built in because of its artwork. Ask the coin dealer what his prices are for different types of silver. But just be careful, someone willing to barter for silver with you post SHTF may not agree that a Ron Paul silver dollar is worth what you think it is.

Once you buy silver, don't keep your eyes on silver value too much. You are buying a long term investment so who cares if it drops a quarter over the next several days. But do keep an eye on spot price for silver before you go to buy it. Look at the trends and see if it is cheaper in the morning vs end of day. Sure a 15 cent rise after lunch isn't bad, but buying 1000 worth might allow you to get some gram bars or a gallon of gas.

Once you get the silver, have a safe place to store it. Just like any other valuables, it is only valuable if you can retain it.

Gold is also something to look at, but in my opinion if the economy collapses you may have to buy most of the grocery store because they can't make change for an ounce of gold. But if you want to diversify, then by all means research the same as above for anything else. Goes the same for Platinum and Palladium but those are not as well known so you may not find a buyer.


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## Immolatus (Feb 20, 2011)

American Eagles or Canadian Maples. Nuff said.

The answer really depends on your objective, but since you are on a wacky forum like this with a bunch of nutjobs (yes, you!), I think its clear where you are coming from.
If its a strict wealth preservation strategy for post SHTF, then you want something thats easily recognizable like the AE's or Maples or even junk silver coins for small change.
If its as an investment, but any silver you want- jewelry, sterling flatware, bullion, rounds, whatever, because its only the metals value that you care about. Personally I dont like the idea of having something that would HAVE to be tested and then melted down to be 'usable' (i.e. grandmas flatware and jewelry) because that reduces their value as there are costs associated with testing and melting. I'd stick with bullion or coins.
Find your nearest coin store and get in good with them. Chat em up and get to know them. Hopefully youre close to a big one that is a primary dealer. If not, youre stuck buying em online or from a secondary dealer and overpaying.
Almost all of us will agree that if you do not have it in your possession, you dont actually own it.

Oh, and finally, precious metals and boats are a bad combination.
You will get it one day.


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## tac803 (Nov 21, 2010)

One advantage to "junk" silver, (pre '64 American coins) is that almost everybody recognizes them, and acknowledges their value as currency. They can often be purchased at coin dealers or jewelers in your hometown with little markup over spot. Easy to store, fun to collect, and retain intrinsic value.


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## db2469 (Jun 11, 2012)

tac803 said:


> One advantage to "junk" silver, (pre '64 American coins) is that almost everybody recognizes them, and acknowledges their value as currency. They can often be purchased at coin dealers or jewelers in your hometown with little markup over spot. Easy to store, fun to collect, and retain intrinsic value.


My thinking is that most people post SHTF will not know how to figure the silver content of the junk silver coins and its silver weight (which is what makes it much more valuable than face value) and just give you its face value....that said, I have a supply of them plus the American Eagles which are marked 1oz .999 purity..


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## Jim1590 (Jul 11, 2012)

just look at how many people today think that 1962 quarter is only worth 25 cents


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## VAP55 (Jul 8, 2012)

Thanks for the advice everyone.
So Basically, I should start with American Eagles? As for investing in gold, It's too expensive for my budget. I think I'd rather have $1,000 in silver rather than $1,000 in gold.


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## db2469 (Jun 11, 2012)

VAP55 said:


> Thanks for the advice everyone.
> So Basically, I should start with American Eagles? As for investing in gold, It's too expensive for my budget. I think I'd rather have $1,000 in silver rather than $1,000 in gold.


Silver would be a good start...don't wait any longer than you have to to start buying....the price might not skyrocket soon but then again it might!


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## invision (Aug 14, 2012)

It's been climbing all month...and I believe its only going to keep going up for at least next 3 months.


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## Immolatus (Feb 20, 2011)

I just cant bring my head around to buying a quarter for ~20 quarters...it just seems...so wrong.


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## Jim1590 (Jul 11, 2012)

Watch the market once Romney wins, betcha the price bottoms out a bit. If it does, buy buy buy!


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## invision (Aug 14, 2012)

Not sure if it will.... I think that it will hold steady... Since I am one that think we are headed for economic collapse over EMP or other disasters, I feel even buying now is worth it... Look at gains over the last 10 yrs, from 4.7x to 33.xx, unless you bought Microsoft or Apple stock, nothing much can compete... That's 7x compared to 6x% gold.


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## Woody (Nov 11, 2008)

I’m a fan of the silver eagles also. Easily recognized and standardized. I bought a roll when it went under $29 and would have bought more if I had the cash.

I look at it this way. If silver is under rated it will go up in price. If gold is over rated silver will stay about the same to reach the traditional 15:1 or 17:1 ratio.

As stated many times before it is not an investment to make money, it is to maintain value of what I already have.


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## urbanprepping (Feb 21, 2012)

VAP55 said:


> Hello everyone, I was hoping to get some advice on investing in silver. I did a search of the website, and came away very confused from all the information on silver. I'm looking to start small, about 1,000 dollars. What advice do you all have for me? Thanks in advance for the information.


Small coins and some ingots 1oz.


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## topstriker (Sep 17, 2012)

Thanks for the advice JimMadsen.I am also thinking of investing in silver or gold though I do not have much knowledge on the exchanges. I know my hard earned cash is making diddly squat in the bank at the moment. There are some online gold and silver exchanges I am looking at with the possibility of storage in London, Singapore or New York. The American Eagle coins are what I will be investing in.


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## invision (Aug 14, 2012)

topstriker said:


> Thanks for the advice JimMadsen.I am also thinking of investing in silver or gold though I do not have much knowledge on the exchanges. I know my hard earned cash is making diddly squat in the bank at the moment. There are some online gold and silver exchanges I am looking at with the possibility of storage in London, Singapore or New York. The American Eagle coins are what I will be investing in.


Don't do storage anywhere but with you... If your investing to invest that is one thing, but if your also concerned about economic collapse, have it where you can get your hands on it pronto... I keep 16 toz of silver in my car, and $20 face value of quarters and half dollars in my computer bag, and the rest in a gun safe here at the house.


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## Immolatus (Feb 20, 2011)

topstriker said:


> Thanks for the advice JimMadsen.I am also thinking of investing in silver or gold though I do not have much knowledge on the exchanges. I know my hard earned cash is making diddly squat in the bank at the moment. There are some online gold and silver exchanges I am looking at with the possibility of storage in London, Singapore or New York. The American Eagle coins are what I will be investing in.


99% of us will say do NOT store it anywhere else. The 1% I am speaking of will tell you his opinion sooner or later. I will have to say that the experts agree with him.
If you do not physically possess it, you do not own it. Ask Gerald Celente.
Do not advertise that you have any. Figure out somewhere safe to keep it. Search the threads.
The safest place to keep it is on your boat, where you are certain to lose it overboard, which is exactly where it should be. (See any commentary at ZH for an explanation of this)
Remember:You do not own any precious metals, and would never consider owning any, because it is barbaric and foolish, and quite possibly t3rr0ristic.


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## Jim1590 (Jul 11, 2012)

If you can't touch it, you don't have it. If you have a decent amount (and a grand is decent) then find someplace safe to hide it (like that boat, just remember where it "fell") cause the FEDS will come for it when they want to. They have done it before. FDR and Order 6102 http://en.wikipedia.org/wiki/Executive_Order_6102 made it illegal to keep gold for monetary reasons. It was quickly overturned but the precedent is there.


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## PennyPincher (Dec 5, 2011)

My preference is circulated coins or 'junk coins.' I pay melt value or slightly more. At current spot price coins are worth 25x the face value. I pay more, but not much, for uncirculated coins. I am not collecting them trying to complete a series etc. I am not interested in their 'collector value.' Silver Eagles carry a high up charge as well as silver rounds. Anywhere from $3-$6 over spot. That's an 8%-16% price increase currently. My thought is that if SHTF and people are using silver for currency you can forget about 'collector value.' I do buy silver eagles, the occassional canadian maple, generic rounds and 1oz bars but only when I can get them for well under the up charge they usually carry. Last week silver was $34.65/oz and I bought AEs and rounds at $36 each.


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