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Owen Kellogg
Member
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# Posted: 4 Nov 2017 09:27am
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Ill be 48 in a few weeks. I've wanted to buy silver for many years, and now I have a little extra income to make some purchases.
I don't know much about the subject, but I'm 99% sure I'm not interested in collectible or "numismatic" coins.
I want mostly "junk silver" and perhaps a few bars as a hedge against inflation and/or a little something extra for retirement. No paper certificates (who would trust that?) Just real physical silver.
I can't just drop thousands on one purchase - it'll likely be $100 max for purchases over the next several years.
I'm most concerned about PRICE. What are the best deals? Also, tips about storage, etc. would be appreciated.
I'm currently looking at this site. Opinions?
https://www.cmi-gold-silver.com/specials-silver/
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ICC
Member
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# Posted: 4 Nov 2017 09:32am - Edited by: ICC
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Buy low, sell high 
But really, if you have to ask you probably should not be getting into precious metals on your own.
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Owen Kellogg
Member
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# Posted: 4 Nov 2017 10:00am
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For sure.
That's why I'm asking questions here - I'm doing research before I invest.
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DaveBell
Moderator
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# Posted: 4 Nov 2017 12:35pm
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Buying and holding any precious metals is one of the worst things you can do.
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Cowracer
Member
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# Posted: 4 Nov 2017 06:42pm
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I have (in total) about 13 pounds of silver (Bearing in mind that a pound of silver is actually only 12 ounces)
Mine are all 1 and 5 ounce bars. I buy from APMEX. you will, of course, pay a bit more than the exchange rate for them. Right now, 1oz bars are about a buck more than the spot price. Thats how they make their money. There are several grades of bars. Sunshine mint cost a little more for reasons I don't know. They are all 99.99 silver. I buy the generic APMEX stamped bars. They come individually sealed in a plastic carrier, but you can still hear them clank if you drop one on another (I love that sound).
Silver hasn't gone anywhere in the last 5 years. I think it might be up from $13 to around 17 and ounce. I wish someone would let the Hunt Brothers out of jail. I do give some out as gifts from time to time. People seem to like getting them.
I would not recommend buying them as an investment to make money. When I started buying, I really had some good info that silver was about to explode. And it did. I remember it getting to $35 for a while. I should have sold out then, but I figured that $55 was the real peak. Bzzzt! Wrong. I'm not out any money, but I could have really made it worth my while.
Like any investing, you must have a balance portfolio and precious metals can be part of that. My silver is basically the same as keeping a stash of money under the mattress. Its something that has intrinsic value and is readily convertible to cash. You can make more money in other ways, but its nice having something like a precious metal in the safe. Makes me feel like a millionaire.
Gold is not doing much either over the last few years, and neither is Plantinum. The one that looks like its got some growth is Palladium, but I have not gotten into any yet. Again, I should have in 2016 at near $450 an ounce, now at $950. If I was starting out in precious metals and wanting a strong growth, thats where I would go
Tim
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Salty Craig
Member
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# Posted: 5 Nov 2017 06:46am
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I have metals. Several different colors. Tim said it very well. Don't expect to get rich. If you ever need your silver, things will not be going well.
To me it's a hobby. I like shiny stuff. I also have a knife and watch collection. Ok, so now I'm a triple freak.
Salty
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Smawgunner
Member
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# Posted: 5 Nov 2017 12:50pm
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I find all of mine with a metal detector ;)
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DaveBell
Moderator
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# Posted: 5 Nov 2017 01:17pm - Edited by: DaveBell
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My rig..Keene 2.5 dredge.
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Salty Craig
Member
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# Posted: 5 Nov 2017 08:34pm
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DaveBell
SWEET!!
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frankpaige
Member
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# Posted: 5 Nov 2017 08:44pm
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I buy Lead. 185 grains. That's my precious metal.🤣
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Cowracer
Member
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# Posted: 6 Nov 2017 09:01am
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Quoting: frankpaige I buy Lead. 185 grains. That's my precious metal.🤣
Then this ought to make your palms itch. If anyone ever says "that hit me like a ton of lead", each one of those blocks are one ton. (binder on top for size reference)
Tim
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frankpaige
Member
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# Posted: 6 Nov 2017 09:56am
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Cowracer
Lol, probably a good price. I do like to stay somewhat mobile though. And the postman has a tough enough time delivering what I do purchase.
Thanks
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snobdds
Member
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# Posted: 6 Nov 2017 11:39am
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I have over 100 pounds of the stuff. When the economy is booming, it's a good time to buy. When the economy is in the tank, it's usually a good time to sell. Metals have an inverse relationship to the economy. Now is when I'm a buyer.
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shall
Member
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# Posted: 6 Nov 2017 05:53pm
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I've bought from Apmex, Monarch and Provident and Provident seems to have the best prices.
Most bang for your buck (in my opinion) is probably generic .999 1 oz rounds.
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Salty Craig
Member
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# Posted: 6 Nov 2017 06:59pm
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I prefer silver eagles over generics. It's got the value of silver content plus it's legal tender. If you were stupid enough, it would buy a cone at Mcdonalds. The "rounds" wouldn't.
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Littlecooner
Member
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# Posted: 6 Nov 2017 07:14pm
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I have not bought any silver in a couple of years. I do have some in the safe and it is all coins. the one oz silver eagles are just downright pretty and nice to have. I have found Provident metals to also be of a better price, especially if buying a small quantity. I did the 5 oz coins back in 2010 and 2011. This stuff is always easy to convert to cash. Around the gun shows and flea markets, I see asking prices of 4 -5 dollars over spot for one oz silver eagles and I see people pay that price. I have ordered from Provident in the past with a little as $50 -75 order. ( I collected one set of the wildlife series of one oz Canada coins a few years ago. They have a low mintage rate and have appreciated in price. Not bad to pay $ 20 for a coin and see it prices for $ 40-50 a few years later. I think everyone needs a few silver coins stacked back.
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KinAlberta
Member
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# Posted: 6 Nov 2017 09:25pm - Edited by: KinAlberta
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Everyone should listen to Warren Buffett’s words on gold. He advises against buying it. (He himself once bought about a huge amount of gold. Would have made another fortune had he kept it.)
I’ve bought the odd little bit of gold coin and silver since the early 1980s. Not much at all in total. Horrible investment and probably a poor insurance as well. Worse, it takes up space in the safety deposit box (Need medium size instead of small - so it costs me even money to keep it.)
If disaster ever hits, I probably wouldn’t sell it thinking that the disaster would only get worse, and then by the time I would feel it’s ok to sell, the price would be way back down.
Silver is usually a byproduct copper mining so it should be a lot more volatile than gold.
There’s also lots of gold and silver in the world and especially for gold, as the price rises, previously uneconomic resource can become economic and old shut in mines can be brought back into production.
High prices beget high production and eventually falling prices.
Investors rush into the market, bring new mines into production, and they all tend towards creating oversupply. Worse they will even produce at a loss in an attempt to ride out weak prices - just making matters worse for everyone.
Then after prices return to earth, surviving marginal players will screw up the market for years as they up mine production at every sign of upward pricing.
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gsreimers
Member
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# Posted: 7 Nov 2017 09:21pm
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My father in law was a prepper. He was prepared for the end of it all and had food, fuel, and silver. He was a retired farmer and sold his land so he had wealth but was not a fan of banks and the stockmarket. While he kept most of his wealth after selling the land in the market, he also had metal.
Almost all of the collectable coins he paid a lot for and it sold for very little after he passed. I'm not sure if he was taken advantage of when he bought it or his children were when they sold it. Either way, it was a big loser.
He also had a lot of junk silver (pre 64 quarters). We've all hung on to them. I've looked into selling some and I think they hold their value pretty well. In addition to that, I'm told in the event it all goes to hell, they will be valuable for trade if paper money is worthless.
On another note, anyone interested in 10 cases of MREs or some slightly past date SPAM
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snobdds
Member
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# Posted: 7 Nov 2017 10:21pm
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Like any investment, you buy low and sell high. Spend some time reading and educating your self on how the economy, interest rates, and industry have on metals.
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Cowracer
Member
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# Posted: 8 Nov 2017 09:28am
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Quoting: gsreimers I'm told in the event it all goes to hell, they will be valuable for trade if paper money is worthless.
Either the shit will never hit the fan, or it will do it in drips, so slowly that we never will even notice. I have a prepper acquaintance and what scares me a little about him is not his cast-iron belief that its all gonna go to hell one day, but that he actually HOPES that it will. He is convinced he will be a king in the aftermath of the apocalypse. Can't hardly even discuss The Walking Dead with him cause all he wants to do is criticize everything the survivors do,a and how he would do it different.
Tim
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toyota_mdt_tech
Member
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# Posted: 26 Sep 2020 12:48am - Edited by: toyota_mdt_tech
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Quoting: Owen Kellogg For sure. That's why I'm asking questions here - I'm doing research before I invest.
The precious metals to invest in are lead, brass and copper.
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