Gold or Silver to Invest In?

[Dr.3D]

Thanks, can anyone make some recommendations as to where to buy one-ounce silver rounds?

You might consider this place: http://silverprice.com/

 

[Grey Fedora]

They look a little pricey. Any other recommendations? I thought about Builliondirect.com but they are in Texas like me so I'd have to pay a 8.25% sales tax.

 

[Arklatex]

The physical stuff is great to own for a SHTF scenario. Mining stocks though provide leverage, 10% increase in gold price can add 50% to a mining companies bottom line.

Silver is great, buying silver grain is the cheapest way to purchase it:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=160298019259

The highest premiums are paid for bullion coins like the american silver eagles and maple leafs. Like llepard said, $250K in silver is the size of a small car, $250K in gold can fit in a ladies purse. The premiums for gold are higher. Silver tarnishes over time, gold doesn't. Both have been used as money since the beginning of time, the word for money in many languages of the world is the same word for silver.


How is the price of precious metals so low?!?! I don't know why, but it's a damn good time to buy in my opinion, especially silver!! Solid gold is too pricey for me! I like being to buy silver and immediately you can turn around it and sell it if need be, gold though you have to take the premium you paid for it into account.

 

[Jbrabble]

Great thread, should be stickied.

 

[Grey Fedora]

Thank you! How do I go about selling silver grain if I need to convert back to FRNs? Would I sell it to a refiner? I'm new to silver and gold, so I'm all ears to anything else you all can tell me.

I'm still trying to find some places to buy silver rounds. Ampex seems to be three months behind on orders.

 

[Josh_LA]

Isn't it better to own coins? Last time the government confiscated gold/silver you could keep the coins but you had to turn in bullion. Right?

true that rare coins may be kept, if you're that much paranoid, for beginners, you might just want bang for buck

 

[Grey Fedora]

If I were to get 1 oz silver bars, what would be the best way to convert them back to FRNs?

 

[rockjoa]

Try local coin shops and pawn shops, just make sure you are getting a fair deal. You can also try selling online and ebay, there are always buyers.

 

[Josh_LA]

If I were to get 1 oz silver bars, what would be the best way to convert them back to FRNs?

same way you bought it.

eBay, and Ron Paul nutjobs will always be happy to buy them back.

try not to use established (pawn, coin) shops as it's a sign you've come to last resort, you'll usually get the worst deal.

 

[Dr.3D]

They look a little pricey. Any other recommendations? I thought about Builliondirect.com but they are in Texas like me so I'd have to pay a 8.25% sales tax.

http://shop.ebay.com/merchant/jkesilver

 

[N.cognito1776]

I have to say, I ordered from Bullion Direct, before the crash in the economy.

Then, they said the items were "Trade Affected." And were backordered or something, so I had to send them a harsh email just to get them to refund the full purchase price, without the cancellation fees they were wanting to charge me.

SO....

I don't recommend them at all,

I like APMEX much better now, fast shipping, secure ordering, and good prices.

However, I buy most of my gold and silver on fee-bay I mean eBay.

To get started, you need to understand how the market is working right now.

Since the crash, silver and gold have remained fairly steady at the same prices, even though the Spot or Melt prices have dropped considerably.

Look around, search for what you're looking for, Silver Eagles, old Silver Quarters, or silver grain, or silver bars.

Most everything is becoming a little hard to find, because everybody is stocking up on silver, or so it seems.

Most bars available now are miscellaneous bars, it's hard to find buffalo bars, or JM bars, in 1 Oz.


Honestly, I'd recommend that if you wanted to buy silver, buy it and keep it for when the nation is in real trouble, like food riots, and other events. You'll need silver during that time.

 

[sevin]

If I were to get 1 oz silver bars, what would be the best way to convert them back to FRNs?

same way you bought it.

eBay, and Ron Paul nutjobs will always be happy to buy them back.

try not to use established (pawn, coin) shops as it's a sign you've come to last resort, you'll usually get the worst deal.

But if TSHTF and everyone is desperate for food, I really wonder if anybody will be buying silver on eBay. I suppose it depends on how bad things are, but assuming it gets so bad that selling on eBay is not an option and coin shops just rip people off, I wonder if there will be any stores that will accept silver in trade for food/supplies. Thoughts?

 

[Perry]

I wouldn't touch gold right now. Silver on the other hand has been forced down. Pull up a chart people.

 

[Mr. Goldbug]

I would go with silver.

Two reasons. First, silver is more industrial than gold and will outperform gold when the markets finally bottom out. Second, it's cheaper and in short supply.

I'm personally looking at NWTMint as a place to purchase some physical silver. But as with Colorado Gold the situation is the same. U.S. Mint has been rationing so this has caused delivery delays. But if you purchase now, you can lock in a price and have it delivered when its worth more.

 

[sevin]

Either is always good to have.

One guy has good prices on ebay, i've bought some silver from him, and it was a pretty cheap product. Grain form, he also has other stuff.

If you look at the completed listings, this guy is selling 22k gold coins for as little as a few dollars. You sure he's selling real gold and silver?

 

[Dr.3D]

If you look at the completed listings, this guy is selling 22k gold coins for as little as a few dollars. You sure he's selling real gold and silver?

There is no mention of weight. Those may be just a few grams of gold each.

 

[Grey Fedora]

http://shop.ebay.com/merchant/jkesilver

This is actually a pretty good shop as far as pricing. I might even order something from him. Now, do silver rounds generally sell for above spot on eBay? I have been a little worried about buying silver rounds from Ampex and whoever else for $2 to $3 above spot but if I can get my money back on those without having to rely on silver prices going up several dollars an ounce, I won't worry too much about it.

Two reasons. First, silver is more industrial than gold and will outperform gold when the markets finally bottom out. Second, it's cheaper and in short supply.

Yeah, that's what I'm thinking, plus it seems more liquid.

 

[Dr.3D]

This is actually a pretty good shop as far as pricing. I might even order something from him. Now, do silver rounds generally sell for above spot on eBay? I have been a little worried about buying silver rounds from Ampex and whoever else for $2 to $3 above spot but if I can get my money back on those without having to rely on silver prices going up several dollars an ounce, I won't worry too much about it.

All fabricated silver that is under 1000 oz. Comex bars sell for above spot.

Actually, that shop belongs to the mother of Jason Hommel.

He has an interesting article in his newsletter and you can read it at the link below.
http://silverstockreport.com/2008/offer.html

 

[Shinerxx]

I have to say, I ordered from Bullion Direct, before the crash in the economy.

Then, they said the items were "Trade Affected." And were backordered or something, so I had to send them a harsh email just to get them to refund the full purchase price, without the cancellation fees they were wanting to charge me.

SO....

I don't recommend them at all,

I just received my order this evening from bullion direct that I paid for just a little over one month ago. I had trade defaulted items (Engelhard prospectors) in my order. BD shipped my order with Silver Eagles instead and gave me one free .999 round. I have no complaints because I was not planning on selling any of the items I ordered anytime in the near future. They even took the time to send a personalized apology letter. APMEX is great as well.

 

[Grey Fedora]

All fabricated silver that is under 1000 oz. Comex bars sell for above spot.

So what exactly is the spot price? Is it unrefined silver? Or just a base price of where to start out selling silver?

How do I determine how much is too much to pay over spot?

I'm actually thinking about buying from her but it appears that she only accepts Paypal and Paypal to me is a rip-off. I could consider starting a bank account for Paypal use only.