Investing in silver--advice needed

For those of you who invest in silver, what is your preferred form? Do you buy scrap coins and, if so, where do you sell them, when the appropriate time comes? Do you buy silver rounds or bullion?

Let's say I bought a $1,000 bag of scrap coins today for 11.95 X face from one of the big online silver dealers. Two years from now, scrap breaks 30 X face -- let's say 30.45 -- and I want to sell. The dealer I bought it from only sells silver. The local dealer is selling at 32 X and buying at 27 X. Is that the best way to sell? What do you all do?

Thank in advance.

Bill B.

I mainly buy bars, where to sell? if hold on long enough and price up...dealers buy back.

Junk silver or most silver sells very good on Ebay but there are fee's and make sure have tracking.

One flaw with tracking a buyer can return a empty box for refund with tracking, seller does not have a chance.

Here if selling over a certain amount ie 10k it is reported to revenue.



Edited 1 time(s). Last edit at 12/15/2017 06:12PM by guvmore.

I got a local coin shop that buys any Silver I want to sell.

Harold,ILL. Wrote:
-------------------------------------------------------
> I got a local coin shop that buys any Silver I wan
> t to sell.

I always wondered what you did with all those seateds and barbers......

When you buy silver bars, you pay a significant premium over spot. I assume you'll eat that when you sell?

Bill B. Wrote:
-------------------------------------------------------
> When you buy silver bars, you pay a significant pr
> emium over spot. I assume you'll eat that when you
> sell?

Bill,

You pay a premium over spot for a lot of silver bullion no matter what the form. ASE's have a high premium because they are minted and have a face value. Plus you can get 2017's in BU condition. Bullion in bar form or in round form have less of a premium.

Check some of the on-line sites, some of them like JM Bullion, APMEX, etc, run specials where the premiums on some of their silver items are very low.

I buy in all shapes and sizes..... coins, bars, rounds, 90%....I like them all. I love buying Morgans in the XF40 grade when I can find them at the shop. Sometimes I get lucky.

You always 'eat' the premium when you sell. To me, at under $16 spot, silver is a good buy.

I agree that it's a good buy. I have way too much clad coinage sitting in cans doing nothing but depreciate in value. Going to convert it to silver and bury it in the woods somewhere.

Find a local coin club and go there when they meet (weekly, bi-weekly or monthly). The old guys will pay a better price than any brick-n-morter coin dealer or jeweler. Remember, no overhead.

Bill B. Wrote:
-------------------------------------------------------
> I agree that it's a good buy. I have way too much
> clad coinage sitting in cans doing nothing but dep
> reciate in value. Going to convert it to silver an
> d bury it in the woods somewhere.


Better be careful---them woods gonna be FULL of NOXERS in a few weeks.

Figure 3 to 5% in and out so you need a move up of about 10% to get out whole.
Avoid the newbie premiums on Eagles and such as your chances of getting it back are slim.
Carson City silver dollars are the exception with the same type of cult following as Apple products.
Craigslist is a good place to get out and still recover the fees , just agree to do the deal in a public place like a bank lobby or post office.
Avoid any paper trails if you can , technically the 28% capital gains tax still apply to precious metals.

In my opinion..... gold is a better investment. There is just a larger percentage to be made when it jumps. Good example..... would be selling to ARA. They offer 98% of spot melt..... only 90% on silver. Doesnt take up as much space either

I may be way off on this one, but one of my thoughts on why the price of silver will start to move up going forward is the renewable energy field.

Seems the crypto-currency run is in full force with many derivatives forming. It takes more and more energy to 'mine' these coins. Reading articles about how these things are 'mined' it seems these 'mining rigs' are needing more power and these companies or whatever they are deemed, are looking into renewable/alternative forms of energy to keep their rigs going. I think that form of energy is going to be solar....hence the need for silver

Silver is more an industrial metal than and investment type metal. For the most part its mined as a by product ( there are very few silver only mining operations).

As we move more into the technology realm, with mining rigs, more and more new technology products, more new weapons, etc,, silver is a part of all of that.

So to me at $16 spot, it's a bargain. If they gold/silver ratio even starts to move back towards the historical average one of two things have to happen...the price of gold plummets or the price of silver, relative to gold, moves 3-4 times as fast upward.

Also, if the reports are valid that JP Morgan has over 600 million PHYSICAL ounces of silver in their vaults, I would assume based on that entities shady character, they are banking on the silver prices rising in the future.

As always, the naked shorting will keep both gold and silver prices at an artificial low. It is when the players on the other side ask for delivery of the actual product instead of settling in cash, will the price truly rise. That is when silver will take off...when the entities that need physical silver for things like solar panels, wire, etc.ask for the real product in abundance. Right now they settle in cash and then buy it. Not sure how long that will last as all the fiat currencies are being watered down.

Reports are that Russia, China, Iran are forming an alliance to trade oil and bypass sanctions via a basket of currency that includes gold, crypto currencies and the yuan...bypassing the dollar. Once that gets rolling watch out.

Its almost the end of the year. Each year all my clad that I find detecting or that I save via change is converted into two things...a nice bottle of Johnnie Walker Blue for the New Years Eve celebration, and Morgan Silver Dollars.

Cant' wait for the 2017 conversion !!! Any day now.

American silver coinage seems to be the best bet. Bars and rounds can be harder to sell as they may be harder to authenticate for purity. As a buyer you are well protected through e-bay. I prefer halves and have bought rolls for not much over spot of silver content. Good way to get some very fine examples of Walkers although very fine examples are not considered rare. If selling you may want to find a different venue than e-bay which shouldn't be hard to do with American coinage.

Dirtmover,

I think some of those older American silver coins are works of art. I love buying quality coins like Morgans, Merc's, Barber quarters, Walkers, Seated's...all of them.

I like it when my 18 year old son comes over and say's "wow..cool' as I show him and proceeds to start looking through my coin book and asking questions.

therover61 Wrote:
-------------------------------------------------------
> Dirtmover,
>
> I think some of those older American silver coins
> are works of art. I love buying quality coins like
> Morgans, Merc's, Barber quarters, Walkers, Seated'
> s...all of them.
>
> I like it when my 18 year old son comes over and s
> ay's "wow..cool' as I show him and proceeds to sta
> rt looking through my coin book and asking questio
> ns.


Agree most early coins from all parts of the globe are works of art.....the mint here in Canada now is turning out Disney World fluff. Cartoon coins to make a buck.