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View Full Version : Cheapest, easiest, best way to buy silver?



Larry Edgerton
11-09-2014, 5:54 PM
I want to put some money into silver, not coins, just silver. I do not want to be involved with any government agencies if possible, but just want to buy at the going rate.

Advise?

Larry

Bruce Volden
11-09-2014, 8:02 PM
Well I've seen you've had several views but no responses so I guess I'll say sumpin.
I made a tidy profit on silver back in the 80's when I bought @ $3 and sold @ $11 BUT am no expert!
I believe I used one of the MANY advertised sellers (won't name them) advertising on the TV / radio.
At that time they wanted me to set aside +/- $5K to "leach" off my account. I said NO as I just wanted physical
possession, and they sent me the silver I wanted and I sat on it for awhile. I got the Engelhart (sp) stuff but I think it's all pretty much the same.
I don't know your purpose for buying it but at this time I'm thinking of playing again.
BTW I made lotsa money playing silver------------BUT-------lost lotsa money playing platinum. Ain't going there no mo.

Bruce

Jim Matthews
11-09-2014, 9:07 PM
I was bit by the same bug, once.

Check coinflation for the spot price, to find the spread between the "ask" and "buy" price.

I recommend Liberty dollars, Franklin halves and pre-1965 Quarters/Dimes.

If you're worried about hyperinflation, understand that the presumption that solver coins will be accepted as currency is an untestable premise.

It could be wrong.

Don't forget that you have to carry this stuff, and it's heavy.

FWIW - I invest in knowing my neighbors and keeping my well running. If the SHTF scenario plays out, fresh water will be the most immediate need for everyone.

Myk Rian
11-09-2014, 9:38 PM
Platinum was my winner. Sold it at $2,000 oz.

Mel Fulks
11-09-2014, 11:25 PM
Jim's idea is the most used way to easily and safely buy silver. You could also buy ,from a dealer, some silver ugly jewelry. Not nearly as convenient and easily resold though. P.S. Not saying silver jewelry is ugly, just that if dealers find
it to be considered "out of style" they sometimes just sell it by ounce price.

Steve Peterson
11-10-2014, 1:11 AM
One method to acquire silver is to buy the stock symbol SLV. I am not sure if this would be completely safe if a disaster strikes, since you don't actually have possession of the silver. The fees should be the same as buying stocks, somewhere around $10 per transaction.

Another method is to buy what is called junk silver, as in pre-1964 coins in bulk quantities. Coin dealers may be able to set you up and you can see it before handing over your money. It should be relatively easy to sell.

I have heard that you need to get an appraisal if you try to sell bars of pure silver.

Steve

Larry Edgerton
11-10-2014, 8:50 AM
My reasons are not anything as dramatic as a total collapse of the government.

My wife is a lot younger than I and although I have spared no expense on quality in our new home there are going to be things that will need money in the future. For example I used lifetime shingles, so I am sure I will never have to replace them, but my wife will. If I put money in the bank earmarked for this by the time it needs shingles, if I put in the cost today it will not do the job in 20 years. If I put the money in silver it will be relative to the value of the dollar at the time.

I choose to buy silver over gold as the historic percentage relationship between the costs of the two metals is out of whack right now and I feel that silver is more realistic.

Thanks for you're reply's so far, keep them coming. Personal experiance is good.

Larry

Grant Wilkinson
11-10-2014, 11:03 AM
In Canada, we can buy the Sprott Silver fund. You own real silver bars or whatever they put up silver in. I don't know if you can buy into this fund from the US, but you could check. They have a very good reputation in Canada.

Brian Elfert
11-10-2014, 1:20 PM
Will a pawn shop sell you silver they planned to melt? I know on that Pawn Stars show they have customers come in and sometimes they say they will only pay the value of the silver in an item.

Jerry Thompson
11-10-2014, 1:26 PM
I bought silver bars at a coin deal. Inglehard (s) and sealed in thick plastic. The dealer has been there for 40+ years. Now if silver doubles I can break even.

Larry Edgerton
11-11-2014, 8:11 AM
In Canada, we can buy the Sprott Silver fund. You own real silver bars or whatever they put up silver in. I don't know if you can buy into this fund from the US, but you could check. They have a very good reputation in Canada.

The problem I have with trusts is I trust no one quite as much as I trust myself.

Larry

Shawn Pixley
11-11-2014, 12:19 PM
I can't tell you much about silver for investment. My wife buys silver for her work (silversmith). But silver prices fluxuate a lot (avg of 13% per year over last ten, six years up & 4 years down). She buys sheet, wire, rod and shot (mix of sterling silver and fine silver). Only the casting shot is sold at spot price, all others are sold with a mark-up. Presumably, investment ingots are sold at spot price and labled .999. The price is around $15 per troy ounce now. A thousand ounces would be around $15k. That will weigh >60 troy pounds.

If this is investment, get ingots. If this is about a collapse, get casting shot so you can dole out smaller quantities. There is a small difference between spot price buying and selling. I don't invest in silver.

Michael Weber
11-11-2014, 12:27 PM
I have bought from this company in Portland, Or. http://www.ajpm.com They have been around for a long time. You can buy most any precious metal. Bullion bars from 1 oz up to many countries coins.

Wade Lippman
11-11-2014, 1:33 PM
If I put the money in silver it will be relative to the value of the dollar at the time.

Larry

Wouldn't it be incredible is something like that was actually possible! You might have enough for a roof, or it might be a great boat anchor. Personally I would leave my wife a S&P 500 index fund.

Bert Kemp
11-11-2014, 3:35 PM
I have a Biotech stock thats making 135 % right now its over double in price from when I bought it . No guarantee it will stay that way but I'm in for the long haul. My brother buys silver and hass been for some years and he's losing. He buys a lot of his silver on ebay.

roger wiegand
11-11-2014, 4:50 PM
A diversified portfolio of a small number of very low cost index funds (large cap, small cap, international, developing country, commodity, long and short term bonds) is really hard to beat over any significant period of time. Eliminate fees at every opportunity-- a very hard thing to do with precious metals-- fees quickly eat your profits.

Brian Ashton
11-11-2014, 6:48 PM
Years ago I was buying and selling the metal. I stuck to buying direct from the bank, can't get much more reliable than that. Keep all your receipts, much easier to del back with them! Stuck to the small bars also, easier to unload...