Silver Thread

[tips n tails]

I read the WTB Silver coins in the sale section, just wanted to throw this out there to those who buy silver or are thinking of buying it. Gainesville Silver.com and Provident Metals.com have prices that most local shops cant even compare to, I know the theory of supporting local shops all to well and Im by no means trying to demerit there business. Last week I bought some 10 oz silver bars from Provident metals at 89 cents over spot, with free shipping, just cant beat those prices. Maples, ASE, Phils, are also a great way to go. I guess this post would be more for the investor/stacker than a collector seeking certain coins but for bullion these two suppliers IMO are the way to go.

 

[FrankT]

Provident says 2.49 over spot on the website??

 

[tips n tails]

Yes Im sorry Frank, this was a special they were running last week. They have sales/specials couple times a month like the one I posted about. It would pay to watch their website.

 

[FrankT]

Yeah it is just do you have any idea how many site I "watch" now? Anyway see a deal post it that day, it would help the rest of us...LOL

 

[shootnstarz]

Yep, $.89 over spot w/free shipping is about as good a deal as you'll ever find. I'm not a fan of large bullion bars but that's where you get the least premium. APMEX had a $2.49 over spot sale last week for ASEs and occasionally have sales on other bullion.

I am so surprised at how low silver has stayed considering all the shortages in the last few months. Historically silver has been on a 16 to 1 ratio compared to gold prices. Right now it's something like 55 to 1. Now is the time to buy silver.

Rick

 

[tips n tails]

I sure will Frank! Just didnt think of it at the time.

 

[tips n tails]

Yep, $.89 over spot w/free shipping is about as good a deal as you'll ever find. I'm not a fan of large bullion bars but that's where you get the least premium. APMEX had a $2.49 over spot sale last week for ASEs and occasionally have sales on other bullion.

I am so surprised at how low silver has stayed considering all the shortages in the last few months. Historically silver has been on a 16 to 1 ratio compared to gold prices. Right now it's something like 55 to 1. Now is the time to buy silver.

Your right SNS, now would be a very good time to buy silver, generic rounds from private mints also carry low permiums. The bars themselves I bought were from a Private State Mint so they even carried a low permium compared to a Englehard or JM bar.

 

[FrankT]

OK so silver is 21.65 today, where and what can I buy the cheapest up to $2000

 

[tips n tails]

http://www.providentmetals.com/1-oz-golden-state-mint-999-fine-silver-bar.html or http://www.providentmetals.com/modern-buffalo-1-oz-999-fine-silver-bullion-round-iso-9001.html

Ones bars and the other is rounds Frank, both "Generic" pure silver.

 

[tips n tails]

Generic silver is "cheap" silver to where ASE,MAPLES, PHILS carry a permium, however you also get a better cash in vs. generic silver. ASE, MAPLES, PHILS to name just a few are also harder to "fake" vs a generic private minted 1 oz round. Its personal perference, I buy silver to buy silver, and what I mean by that is bullion, doesnt matter if its bars or rounds to me, I try to find lowest out there for the dollar spent. I do like maples though and they are a good looking coin that is cheaper than a ASE but still carries a permium.

 

[FrankT]

Which is more desirable or easy to move, coins or bars?

 

[tips n tails]

Coins come in a 20 round tube, maple leafs its 25 per tube. I personally would rather have 20 coins in a tube than 20 1oz bars, when it comes to bars I do just do the 10 oz ones. As far as desirable I wouldnt be able to help you with that. I know ASE, Maples, Philahormonics (sp) then rounds being on the low end of coins.

 

[shootnstarz]

It's all about the same as far as selling it. Coins, bullion coins and straight bullion all carry a premium that pretty much stays with the piece no matter what the spot does. This premium may vary slightly due to supply and demand but coins and bullion coins will usually always carry a higher premium than straight bullion.

I like it all, 90% US coins in smaller denominations (dimes, quarters, halves) will be easy to trade should the paper money become worthless. I like silver dollars because they're silver dollars and most in good shape can be quite valuable, though I don't have any rare ones. Bullion and bullion coins (ASE, Maples, Phillies, Kookas) are more for investment but can also be used for barter. This is the reason I like the smaller units over the 10 and 100 ounce bars.

If I had $2K to buy silver right now what I got would depend on what I already had. If I was starting out I would see if I could find some 90% junk coins. That or ASEs are my coins of choice. But it really doesn't matter what you buy, silver is silver.

For prices I'd first check with a local bullion broker, I use Roberts & Roberts here and haven't been able to beat their prices online. But if APMEX or the aforementioned sites have sales going on you may can do better with them. A few cents either way is no big deal for me in the small quantities I buy but in multi thou investments it can.

I can't help but feel the silver price is being artificially suppressed, the worldwide shortage should be drivng the price up.

Rick

 

[tips n tails]

Isnt that the truth Rick about the market being manipulated

 

[shootnstarz]

And down it continues to go, now at $19.75.

http://silverprice.org/

Rick

 

[tips n tails]

Yep today is a down day. I see the commission prices though have increased to try to off-set the down.

 

[FrankT]

I got 40 OPM's, all in cute plastic cases, thanks guys, will buy more as it goes down.

 

[tips n tails]

Atta boy Frank. Are these 10 oz or 1 oz bars you bought? What was the charge over spot?

 

[FrankT]

The are 1oz round with their stamp on them. 22.50 ea

 

[tips n tails]

Was this online? I ask because most coin shops where Im at, Crestview, FWB, Pcola alot of times have a shortage or as they come in they walk right back out.